Boyne Area Gymnastics Inc

Analysis

Boyne Area Gymnastics Inc is a registered charity in United States, based in Boyne City, 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 December 2023, Boyne Area Gymnastics Inc reported income of $158k and spending of $191k, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $246k to $158k (-36%), an average of -11% a year. The sharpest change came in the year to December 2020, when income dropped by 48%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Boyne Area Gymnastics Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 48th percentile within MI. Charities of a similar size with the same main cause include Parent Booster USA Inc ($158k), Pennsylvania State Association of County Fairs ($158k) and Seattle Community College Parent Cooperative Preschool ($158k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $9,560 (5.0% of expenses). Other salaries and wages came to $69k. At year end it held assets of $272k against liabilities of $18k, net assets of $254k. It reported 13 employees.