Grayslake Galaxy Soccer Club Inc

Analysis

Grayslake Galaxy Soccer Club Inc is a registered charity in United States, based in Grayslake, IL. It received its IRS tax-exemption ruling in June 2006, 20 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 July 2023, Grayslake Galaxy Soccer Club Inc reported income of $600k and spending of $691k, spending 115% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income fell from $614k to $600k (-2.2%), an average of -0.6% a year. The sharpest change came in the year to July 2021, when income rose by 43%. Over the whole period it spent 91% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Grayslake Galaxy Soccer Club Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within IL. Charities of a similar size with the same main cause include Maxwell M Corpening Jr Memorial Center Inc ($600k), Midland Soccer Association Inc ($601k) and Cotuit Athletic Association Inc ($600k).

On its Form 990 for the period ending July 2023, revenue came from program service revenue 98% of the total. Compensation of current officers, directors and key employees was $3,636 (0.5% of expenses). Other salaries and wages came to $204k. At year end it held assets of $610k against liabilities of $9,752, net assets of $600k.