Parkette National Gymnastic Team Inc

Analysis

Parkette National Gymnastic Team Inc is a registered charity in United States, based in Allentown, PA. It received its IRS tax-exemption ruling in March 1978, 48 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 August 2023, Parkette National Gymnastic Team Inc reported income of $2.3m and spending of $2.2m, spending 95% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $2.4m to $2.3m (-3.2%), an average of -0.8% a year. The sharpest change came in the year to August 2020, when income dropped by 28%. Over the whole period it spent 99% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Parkette National Gymnastic Team Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within PA. Charities of a similar size with the same main cause include National Muzzle Loading Rifle Association ($2.3m), Bavarian United Soccer Club Inc ($2.3m) and Valor Soccer ($2.3m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 0.6% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $146k (6.6% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $2.4m against liabilities of $294k, net assets of $2.1m. It reported 67 employees.