Metropolitan Oval Foundation Inc

Analysis

Metropolitan Oval Foundation Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in February 1999, 27 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 August 2023, Metropolitan Oval Foundation Inc reported income of $2.0m and spending of $2.1m, spending 103% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.5m to $2.0m (+38%), an average of +8.4% a year. The sharpest change came in the year to August 2023, when income rose by 19%. Over the whole period it spent 95% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Metropolitan Oval Foundation Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 83rd percentile within NY. Charities of a similar size with the same main cause include Center for Healing and Justice Through Sport ($2.0m), Mudsock Youth Athletics ($2.0m) and Ohio Youth Hockey Association Inc ($2.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 5.4% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $7,000 (0.3% of expenses). Other salaries and wages came to $747k. At year end it held assets of $2.2m against liabilities of $1.1m, net assets of $1.1m. It reported 6 employees.