Colonial Figure Skating Club Inc

Analysis

Colonial Figure Skating Club Inc is a registered charity in United States, based in Acton, MA. It received its IRS tax-exemption ruling in July 2005, 21 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Colonial Figure Skating Club Inc reported income of $1.3m and spending of $1.3m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.7m to $1.3m (-23%), an average of -6.4% a year. The sharpest change came in the year to June 2020, when income dropped by 51%. Over the whole period it spent 111% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Colonial Figure Skating Club Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MA. Charities of a similar size with the same main cause include Sports Authority Foundation ($1.3m), Timbergrove Sports Association Inc ($1.3m) and Michelin Charity Golf Tournament ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.6% and program service revenue 95% of the total. Other salaries and wages came to $330k. At year end it held assets of $429k against liabilities of $331k, net assets of $97k. It reported 35 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.