Madison Hoop Dreams Inc

Analysis

Madison Hoop Dreams Inc is a registered charity in United States, based in Madison, CT. It received its IRS tax-exemption ruling in November 2007, 19 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, Madison Hoop Dreams Inc reported income of $116k and spending of $115k, spending 99% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $77k to $116k (+50%), an average of +50% a year. The sharpest change came in the year to December 2023, when income rose by 50%. Over the whole period it spent 97% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Madison Hoop Dreams Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 39th percentile within CT. Charities of a similar size with the same main cause include Lakeshore Basketball Inc ($116k), Albany Berkeley Youth Volleyball League ($116k) and Faribault Booster Club ($116k).

On its Form 990-EZ for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $7,980 against liabilities of $0, net assets of $7,980.