Reading Ice Arena Authority Inc

Analysis

Reading Ice Arena Authority Inc is a registered charity in United States, based in Reading, MA. It received its IRS tax-exemption ruling in December 1992, 34 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 June 2023, Reading Ice Arena Authority Inc reported income of $990k and spending of $1.0m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $890k to $990k (+11%), an average of +2.7% a year. The sharpest change came in the year to June 2020, when income dropped by 20%. Over the whole period it spent 102% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Reading Ice Arena Authority Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MA. Charities of a similar size with the same main cause include Camp Allen Inc ($990k), The Skating Club of Wilmington Inc ($991k) and Iowa Soccer Club Incorporated ($990k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 92% of the total. Compensation of current officers, directors and key employees was $243k (24% of expenses). Other salaries and wages came to $154k. At year end it held assets of $754k against liabilities of $174k, net assets of $580k. It reported 17 employees.