Portage Bay Insurance
4333 Brooklyn Ave NE, Seattle, WA · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $58,987,288 | $59,761,537 | $24,631,882 |
| FY2024 | $55,609,001 | $51,897,937 | $15,372,234 |
| FY2023 | $62,536,564 | $67,193,743 | $4,693,330 |
| FY2022 | $43,679,880 | $52,270,627 | $5,510,455 |
| FY2021 | $59,637,964 | $56,248,304 | $18,202,800 |
| FY2020 | $26,048,700 | $28,573,638 | $14,813,140 |
| FY2019 | $27,318,555 | $40,456,608 | $17,338,078 |
| FY2018 | $26,275,036 | $33,137,663 | $30,476,131 |
| FY2017 | $26,572,917 | $13,559,388 | $37,338,758 |
| FY2016 | $22,338,122 | $23,875,429 | $24,325,229 |
| FY2015 | $22,687,825 | $31,366,766 | $25,862,536 |
| FY2014 | $22,357,055 | $20,697,251 | $34,541,477 |
| FY2013 | $20,556,096 | $28,249,928 | $32,881,673 |
| FY2012 | $17,544,434 | $18,082,650 | $40,575,505 |
Form 990 filings
The returns filed by Portage Bay Insurance (EIN 01-0717030), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $0 | 0% |
| Program service revenue | $58,983,067 | 100% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $59,251,063 | 99% |
| Management & general | $510,474 | 1% |
| Fundraising | $0 | 0% |
What the numbers show
- Program service revenue made up 100% of total revenue in FY2025.
- Program services accounted for 99% of functional expenses, management & general 1%, and fundraising 0%.
- 99% of functional expenses went to program services in FY2025. That is higher than 51.8% of 110 Mutual & Membership Benefit organizations nationwide (too few in WA for a state comparison).
- Net assets covered about 4.9 months of expenses at the end of the reporting year. That puts it in the 23rd percentile among 104 Mutual & Membership Benefit organizations in WA.
- Total revenue was higher than 94.3% of 106 Mutual & Membership Benefit organizations in WA.
- Total revenue rose from $17,544,434 in FY2012 to $58,987,288 in FY2025. Revenue increased in 8 and decreased in 5 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 10 of 14 reported years (FY2012, FY2013, FY2015, FY2016, FY2018, FY2019, FY2020, FY2022, FY2023, FY2025).
- The highest revenue on record here is $62,536,564 in FY2023.
- Net assets declined from $40,575,505 to $24,631,882 between FY2012 and FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (supporting organization, type unspecified).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
TO PROVIDE PROFESSIONAL, GENERAL, EDUCATORS LEGAL (INCLUDING EMPLOYMENT PRACTICES), AND AUTOMOBILE LIABILITY INSURANCE COVERAGE TO THE UNIVERSITY OF WASHINGTON AND ITS AFFILIATES.
IRS status
| Ruling year | 2005 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | Y990 — Mutual & Membership Benefit |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (supporting organization, type unspecified). |
Similar organizations
- State of Indiana Health Reimbursement Arrangement Hra — Spokane, WA · $26,487,841
- Northwest Fire Fighters Benefits Trust — Mukilteo, WA · $124,486,277
- Voluntary Employees Benefit Association Trust for Public — Spokane, WA · $129,366,966
- Asea-AFSCME Local 52 Health Benefits Trust — Bothell, WA · $193,260,298
- Voluntary Employees Beneficiary Assoc Tr for Pub Empl State of Wa — Spokane, WA · $226,969,367
- SEIU Healthcare Nw Health Benefits Trust — Seattle, WA · $504,106,267
Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
Think something here is wrong or should be removed? Use the contact form — we act on removal requests within 30 days.