Pleasure Island Soccer Association Inc

Analysis

Pleasure Island Soccer Association Inc is a registered charity in United States, based in Carolina BCH, NC. 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 December 2022, Pleasure Island Soccer Association Inc reported income of $567k and spending of $613k, spending 108% of what it took in. Across the 3 years on record, from December 2020 to December 2022, income grew from $304k to $567k (+87%), an average of +37% a year. The sharpest change came in the year to December 2021, when income rose by 55%. Over the whole period it spent 109% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Pleasure Island Soccer Association Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within NC. Charities of a similar size with the same main cause include Friends of West University Parks Fund ($567k), Newport Beach Baseball Association ($567k) and Friends of the Schuykill Navy ($566k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 2.0% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $75k (12% of expenses). Other salaries and wages came to $65k. At year end it held assets of $99k against liabilities of $153k, net assets of -$54k. It reported 4 employees.

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.