Special Olympics Maryland Inc

Analysis

Special Olympics Maryland Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in December 1970, 56 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, Special Olympics Maryland Inc reported income of $7.0m and spending of $6.4m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.5m to $7.0m (+28%), an average of +6.3% a year. The sharpest change came in the year to December 2021, when income rose by 34%. Over the whole period it spent 84% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Special Olympics Maryland Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MD. Charities of a similar size with the same main cause include Lincoln Youth Complex ($7.0m), Maryland State Fair and Agricultural Society Inc ($7.0m) and Odyssey Charities ($6.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% of the total. Compensation of current officers, directors and key employees was $381k (6.0% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $9.7m against liabilities of $1.4m, net assets of $8.3m. It reported 48 employees.