San Diego Fleet Week Foundation

Analysis

San Diego Fleet Week Foundation is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in January 2003, 23 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 2023, San Diego Fleet Week Foundation reported income of $423k and spending of $498k, spending 118% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $424k to $423k (-0.3%), an average of -0.1% a year. The sharpest change came in the year to December 2020, when income dropped by 40%. Over the whole period it spent 101% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, San Diego Fleet Week Foundation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 69th percentile within CA. Charities of a similar size with the same main cause include South Carolina Recreation & Park Assn ($423k), McLean County Pony Baseball Inc ($423k) and Hingham Sports Partnership Inc ($423k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $93k (19% of expenses). Other salaries and wages came to $14k. At year end it held assets of $53k against liabilities of $87k, net assets of -$34k. 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.