Special Olympics Connecticut Inc

Analysis

Special Olympics Connecticut Inc is a registered charity in United States, based in Hamden, CT. It received its IRS tax-exemption ruling in October 1987, 39 years ago. 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, Special Olympics Connecticut Inc reported income of $5.3m and spending of $5.5m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.8m to $5.3m (-8.6%), an average of -2.2% a year. The sharpest change came in the year to December 2021, when income rose by 38%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Special Olympics Connecticut 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 92nd percentile, and in the 91st percentile within CT. Charities of a similar size with the same main cause include Mt Spokane 2000 ($5.3m), Down Syndrome Association of Central Ohio ($5.3m) and Habitat for Humanity International Inc ($5.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $348k (6.3% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $11.8m against liabilities of $317k, net assets of $11.5m. It reported 35 employees.