Charter Oak Amateur Boxing Academy

Analysis

Charter Oak Amateur Boxing Academy is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in July 2014, 12 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, Charter Oak Amateur Boxing Academy reported income of $254k and spending of $279k, spending 110% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income grew from $222k to $254k (+15%), an average of +14% a year. Over the whole period it spent 106% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Charter Oak Amateur Boxing Academy sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 56th percentile within CT. Charities of a similar size with the same main cause include Pembina County Annual Fair and Exhibition Association ($254k), Unit 323 Recreation Association ($254k) and Our Loving Mothers Children Inc ($254k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $65k. At year end it held assets of $418k against liabilities of $182k, net assets of $236k.