Hot Tubes Development Cycling Team Inc

Analysis

Hot Tubes Development Cycling Team Inc is a registered charity in United States, based in Shirley, MA. It received its IRS tax-exemption ruling in January 2006, 20 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 December 2023, Hot Tubes Development Cycling Team Inc reported income of $185k and spending of $227k, spending 122% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $232k to $185k (-20%), an average of -5.5% a year. The sharpest change came in the year to December 2021, when income dropped by 32%. Over the whole period it spent 97% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Hot Tubes Development Cycling Team Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 56th percentile within MA. Charities of a similar size with the same main cause include Valley Twisters Gymnastics Club Inc ($185k), Cabo Collegiate ($185k) and Lake Region Snowmobile Club Inc ($185k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $48k (21% of expenses). At year end it held assets of $51k against liabilities of $5,349, net assets of $46k. It reported 1 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.