Laredo Heat Youth Soccer

Analysis

Laredo Heat Youth Soccer is a registered charity in United States, based in Laredo, TX. It received its IRS tax-exemption ruling in January 2005, 21 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 December 2023, Laredo Heat Youth Soccer reported income of $254k and spending of $284k, spending 112% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $261k to $254k (-2.4%), an average of -1.2% 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, Laredo Heat Youth Soccer 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 63rd percentile within TX. Charities of a similar size with the same main cause include Marathon County Youth Hockey Inc ($254k), Boulder Poseidons Swim Team ($254k) and Tatums Garden Foundation Inc ($254k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% of the total. Other salaries and wages came to $29k. At year end it held assets of $4,917 against liabilities of $31k, net assets of -$26k. 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.