Palatine Swim Team

Analysis

Palatine Swim Team is a registered charity in United States, based in Palatine, IL. It received its IRS tax-exemption ruling in July 2000, 26 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, Palatine Swim Team reported income of $469k and spending of $449k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $437k to $469k (+7.2%), an average of +1.8% a year. The sharpest change came in the year to December 2021, when income rose by 64%. Over the whole period it spent 104% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Palatine Swim Team sits at the 85th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within IL. Charities of a similar size with the same main cause include Fremont Ice Association ($469k), North Platte Legion Baseball ($469k) and High Country Junior Volleyball Club Inc ($468k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 99% of the total. Other salaries and wages came to $216k. At year end it held assets of $322k against liabilities of $139k, net assets of $183k. It reported 2 employees.