Richfield Gymnastics Club

Analysis

Richfield Gymnastics Club is a registered charity in United States, based in Bloomington, MN. It received its IRS tax-exemption ruling in May 1973, 53 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a private operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Richfield Gymnastics Club reported income of $656k and spending of $659k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $553k to $656k (+18%), an average of +4.3% a year. The sharpest change came in the year to December 2021, when income rose by 53%. 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, Richfield Gymnastics Club sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 73rd percentile within MN. Charities of a similar size with the same main cause include Hot Topic All Stars Inc ($656k), Oregon Futbol Academy ($656k) and The Crew Center ($655k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.7% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $64k (9.7% of expenses). Other salaries and wages came to $250k. At year end it held assets of $383k against liabilities of $0, net assets of $383k. It reported 35 employees.