Thomas Shipman Sr Memorial Youth Center Inc

Analysis

Thomas Shipman Sr Memorial Youth Center Inc is a registered charity in United States, based in Lake Placid, NY. It received its IRS tax-exemption ruling in February 1997, 29 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, Thomas Shipman Sr Memorial Youth Center Inc reported income of $98k and spending of $101k, spending 103% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $72k to $98k (+35%), an average of +35% a year. The sharpest change came in the year to December 2023, when income rose by 35%. Over the whole period it spent 120% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Thomas Shipman Sr Memorial Youth Center Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 36th percentile within NY. Charities of a similar size with the same main cause include Myto Field Hockey Inc ($98k), Nam Knights Lehigh Valley ($98k) and Chatham Football Club Inc ($98k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 66% of the total. At year end it held assets of $362k against liabilities of $10k, net assets of $351k.