Swiminc Inc

Analysis

Swiminc Inc is a registered charity in United States, based in Worthington, OH. It received its IRS tax-exemption ruling in April 2002, 24 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 September 2023, Swiminc Inc reported income of $1.8m and spending of $1.9m, spending 103% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.2m to $1.8m (+56%), an average of +12% a year. The sharpest change came in the year to September 2021, when income rose by 241%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Swiminc 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 85th percentile, and in the 85th percentile within OH. Charities of a similar size with the same main cause include Technology Association of Grantmakers Inc ($1.8m), American Federation of Muslims of Indian Origin ($1.8m) and National Association for Interpretation ($1.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 43% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $230k (12% of expenses). Other salaries and wages came to $831k. At year end it held assets of $815k against liabilities of $151k, net assets of $664k. It reported 130 employees.