Watertown Figure Skate Club Inc

Analysis

Watertown Figure Skate Club Inc is a registered charity in United States, based in Watertown, SD. It received its IRS tax-exemption ruling in June 2014, 12 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 June 2023, Watertown Figure Skate Club Inc reported income of $1.9m and spending of $88k, leaving 95% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $311k to $1.9m (+500%), an average of +500% a year. The sharpest change came in the year to June 2023, when income rose by 500%. Over the whole period it spent 7.4% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Watertown Figure Skate Club Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within SD. Charities of a similar size with the same main cause include Club One Az ($1.9m), Nashville Elite Hockey Club Inc ($1.9m) and Impact United Soccer Club ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 3.9% of the total. At year end it held assets of $2.1m against liabilities of $347, net assets of $2.1m.