Traverse City Figure Skating Club

Analysis

Traverse City Figure Skating Club is a registered charity in United States, based in Traverse City, MI. It received its IRS tax-exemption ruling in October 1996, 30 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 August 2023, Traverse City Figure Skating Club reported income of $456k and spending of $381k, spending 84% of its income. Across the 6 years on record, from May 2019 to August 2023, income grew from $335k to $456k (+36%), an average of +6.4% a year. The sharpest change came in the year to August 2020, when income rose by 388%. Over the whole period it spent 96% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Traverse City Figure Skating Club sits at the 84th 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 MI. Charities of a similar size with the same main cause include Carroll Emerald Belles Booster Club ($456k), New River United Soccer Association ($456k) and River City Athletics ($455k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 3.2% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $41k (11% of expenses). Other salaries and wages came to $8,601. At year end it held assets of $117k against liabilities of $1,278, net assets of $116k. It reported 22 employees.