Carol S Petrea Youth Golf Foundation Inc

Analysis

Carol S Petrea Youth Golf Foundation Inc is a registered charity in United States, based in Shallotte, NC. It received its IRS tax-exemption ruling in September 2004, 22 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Carol S Petrea Youth Golf Foundation Inc reported income of $440k and spending of $546k, spending 124% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $773k to $440k (-43%), an average of -17% a year. The sharpest change came in the year to December 2021, when income rose by 75%. Over the whole period it spent 97% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Carol S Petrea Youth Golf Foundation Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 67th percentile within NC. Charities of a similar size with the same main cause include Cecil County Fair Inc ($440k), Friends of the Ashland County Park District ($440k) and Gillette Soccer Club Inc ($440k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 86% and program service revenue 13% of the total. Other salaries and wages came to $283k. At year end it held assets of $2.3m against liabilities of $182k, net assets of $2.1m. It reported 12 employees.