Lightning Basketball Inc

Analysis

Lightning Basketball Inc is a registered charity in United States, based in Levittown, NY. It received its IRS tax-exemption ruling in December 2001, 25 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 2022, Lightning Basketball Inc reported income of $1.6m and spending of $1.8m, spending 112% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.4m to $1.6m (+13%), an average of +4.0% a year. The sharpest change came in the year to December 2021, when income rose by 367%. Over the whole period it spent 105% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Lightning Basketball Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Greater Jacksonville Agricultural Fair Association Inc ($1.6m), Beach Cities Volleyball Club ($1.6m) and Hoop Bus Inc ($1.6m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 30% and program service revenue 70% of the total. Other salaries and wages came to $164k. At year end it held assets of $0 against liabilities of $0, net assets of $0. It reported 5 employees.