Terre Haute Torpedoes Inc

Analysis

Terre Haute Torpedoes Inc is a registered charity in United States, based in Terre Haute, IN. It received its IRS tax-exemption ruling in April 1998, 28 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Terre Haute Torpedoes Inc reported income of $161k and spending of $179k, spending 111% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $232k to $161k (-31%), an average of -8.7% a year. The sharpest change came in the year to August 2021, when income rose by 59%. Over the whole period it spent 106% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Terre Haute Torpedoes Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 47th percentile within IN. Charities of a similar size with the same main cause include Voice in Sport Foundation ($161k), Surge Volleyball Club Ri ($161k) and Appalachian Premier Volleyball Academy ($161k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 90% and program service revenue 9.6% of the total. Other salaries and wages came to $87k. At year end it held assets of $50k against liabilities of $0, net assets of $50k. It reported 42 employees.