Red Wave Swim Team

Analysis

Red Wave Swim Team is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in February 1987, 39 years ago. 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 September 2023, Red Wave Swim Team reported income of $880k and spending of $974k, spending 111% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $726k to $880k (+21%), an average of +4.9% a year. The sharpest change came in the year to September 2021, when income rose by 51%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Red Wave Swim Team sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 81st percentile within NJ. Charities of a similar size with the same main cause include El Campito Inc ($880k), Sea Island Community Development Funds Inc ($880k) and Ny Helmets to Hardhats Inc ($880k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $97k (10.0% of expenses). At year end it held assets of $222k against liabilities of $0, net assets of $222k. It reported 12 employees.