USA Artistic Swimming

Analysis

USA Artistic Swimming is a registered charity in United States, based in Colorado Springs, CO. It received its IRS tax-exemption ruling in October 1980, 46 years ago. 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 2023, USA Artistic Swimming reported income of $2.7m and spending of $3.0m, spending 114% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $1.7m to $2.7m (+57%), an average of +9.5% a year. The sharpest change came in the year to December 2021, when income rose by 93%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, USA Artistic Swimming 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 88th percentile, and in the 88th percentile within CO. Charities of a similar size with the same main cause include Paramount Center Inc ($2.7m), Habitat for Humanity International Inc ($2.7m) and Center for the Advocacy for the Rights & Interests of the Elderly ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 34% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $151k (4.9% of expenses). Other salaries and wages came to $625k. At year end it held assets of $702k against liabilities of $1.0m, net assets of -$315k. It reported 12 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.