Southeast Soccer Club Corp

Analysis

Southeast Soccer Club Corp is a registered charity in United States, based in Waterford, CT. It received its IRS tax-exemption ruling in August 2013, 13 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 2024, Southeast Soccer Club Corp reported income of $624k and spending of $655k, spending 105% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $307k to $624k (+103%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 59%. Over the whole period it spent 99% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Southeast Soccer Club Corp sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within CT. Charities of a similar size with the same main cause include Flower Mound Youth Sports Association Inc ($623k), Ignite Hoops ($624k) and Holmdel Youth Soccer Associates Inc ($623k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 2.1% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $68k (10% of expenses). At year end it held assets of $325k against liabilities of $216k, net assets of $109k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.