Palumbo Soccer Club

Analysis

Palumbo Soccer Club is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in February 2013, 13 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 December 2023, Palumbo Soccer Club reported income of $461k and spending of $497k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $385k to $461k (+20%), an average of +4.6% a year. The sharpest change came in the year to December 2021, when income rose by 101%. Over the whole period it spent 100% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Palumbo Soccer Club sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 67th percentile within PA. Charities of a similar size with the same main cause include Rise Volleyball Inc ($461k), Tosa Kickers Soccer Association Inc ($462k) and Bcfa Inc ($461k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 86% of the total. At year end it held assets of $113k against liabilities of $0, net assets of $113k.