Steel City Rowing Corporation

Analysis

Steel City Rowing Corporation is a registered charity in United States, based in Verona, PA. It received its IRS tax-exemption ruling in January 1999, 27 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, Steel City Rowing Corporation reported income of $219k and spending of $329k, spending 150% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $224k to $219k (-2.0%), an average of -0.5% a year. The sharpest change came in the year to December 2021, when income rose by 110%. Over the whole period it spent 165% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Steel City Rowing Corporation sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 53rd percentile within PA. Charities of a similar size with the same main cause include Mitchell Skating and Hockey Association ($219k), Shoreline Greenway Trail Inc ($219k) and Laguna Niguel Girls Softball League ($219k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 21% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $47k (14% of expenses). Other salaries and wages came to $9,580. At year end it held assets of $2.5m against liabilities of $0, net assets of $2.5m. It reported 11 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.