Verona United Soccer Assoc Inc

Analysis

Verona United Soccer Assoc Inc is a registered charity in United States, based in Verona, NJ. It received its IRS tax-exemption ruling in March 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 July 2022, Verona United Soccer Assoc Inc reported income of $159k and spending of $246k, spending 155% of what it took in. Across the 4 years on record, from July 2019 to July 2022, income fell from $209k to $159k (-24%), an average of -8.6% a year. The sharpest change came in the year to July 2021, when income rose by 81%. Over the whole period it spent 103% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Verona United Soccer Assoc Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 56th percentile within NJ. Charities of a similar size with the same main cause include Skating Club of Andover Inc ($159k), Allegany County Federation of Snowmobilers Inc ($159k) and CGBD Bingo Booster Club ($159k).

On its Form 990 for the period ending July 2022, revenue came from program service revenue 100% of the total. At year end it held assets of $157k against liabilities of $125k, net assets of $32k.