Reading United Soccer Club Inc

Analysis

Reading United Soccer Club Inc is a registered charity in United States, based in Reading, MA. It received its IRS tax-exemption ruling in February 2010, 16 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, Reading United Soccer Club Inc reported income of $260k and spending of $227k, spending 87% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $213k to $260k (+22%), an average of +5.1% a year. The sharpest change came in the year to August 2022, when income rose by 122%. Over the whole period it spent 88% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Reading United Soccer Club Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 61st percentile within MA. Charities of a similar size with the same main cause include Sauk Prairie Youth Hockey Association Inc ($260k), Milan USA Academy Incorporated ($260k) and Harinam Festivals Incorporated ($260k).

On its Form 990 for the period ending August 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $7,405 (3.3% of expenses). At year end it held assets of $308k against liabilities of $164k, net assets of $144k.