Lockport Ice Arena & Sports Center Inc

Analysis

Lockport Ice Arena & Sports Center Inc is a registered charity in United States, based in Lockport, NY. It received its IRS tax-exemption ruling in May 2008, 18 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 August 2023, Lockport Ice Arena & Sports Center Inc reported income of $1.2m and spending of $1.8m, spending 143% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $1.2m to $1.2m (-1.5%), an average of -0.4% a year. The sharpest change came in the year to August 2021, when income rose by 43%. Over the whole period it spent 131% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Lockport Ice Arena & Sports Center Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 78th percentile within NY. Charities of a similar size with the same main cause include Pittsburgh Elite Volleyball Association ($1.2m), Growth Opportunities Through Athletics Learning & Service Goals ($1.2m) and Commercial Real Estate Women Foundation ($1.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 16% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $80k (4.6% of expenses). Other salaries and wages came to $397k. At year end it held assets of $12.5m against liabilities of $8.2m, net assets of $4.4m. It reported 32 employees.