The Skating Club of Boston

Analysis

The Skating Club of Boston is a registered charity in United States, based in Norwood, MA. It received its IRS tax-exemption ruling in September 2002, 24 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Skating Club of Boston reported income of $10.5m and spending of $11.9m, spending 114% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $30.5m to $10.5m (-66%), an average of -24% a year. The sharpest change came in the year to June 2020, when income dropped by 78%. Over the whole period it spent 65% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, The Skating Club of Boston sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Discovery Green Conservancy ($10.5m), Stratton Mountain School & Ski Foundation Inc ($10.5m) and Southern California Volleyball Association ($10.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $241k (2.0% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $63.7m against liabilities of $26.2m, net assets of $37.5m. It reported 276 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.