Detroit Skating Club Inc

Analysis

Detroit Skating Club Inc is a registered charity in United States, based in Bloomfld HLS, MI. It received its IRS tax-exemption ruling in June 1994, 32 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 May 2023, Detroit Skating Club Inc reported income of $2.6m and spending of $2.5m, spending 96% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $2.2m to $2.6m (+21%), an average of +4.9% a year. The sharpest change came in the year to May 2023, when income rose by 18%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Detroit Skating Club Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within MI. Charities of a similar size with the same main cause include Golden Circle Senior Citizens Council ($2.6m), Abide Network Inc ($2.6m) and The Manna Project Inc ($2.6m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 6.7% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $97k (3.8% of expenses). Other salaries and wages came to $661k. At year end it held assets of $5.6m against liabilities of $4.3m, net assets of $1.3m. It reported 31 employees.