Outer Banks Sporting Events Inc

Analysis

Outer Banks Sporting Events Inc is a registered charity in United States, based in Kill Devil HL, NC. It received its IRS tax-exemption ruling in December 2010, 16 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 2022, Outer Banks Sporting Events Inc reported income of $383k and spending of $405k, spending 106% of what it took in. Across the 5 years on record, from December 2018 to December 2022, income grew from $363k to $383k (+5.4%), an average of +1.3% a year. The sharpest change came in the year to December 2022, when income rose by 290%. Over the whole period it spent 114% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Outer Banks Sporting Events Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within NC. Charities of a similar size with the same main cause include Dewitt Area Swim Team ($383k), Gouverneur Agricultural & Mechanical Society ($383k) and United States Dragon Boat Federation ($383k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 25% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $49k (12% of expenses). Other salaries and wages came to $26k. At year end it held assets of $187k against liabilities of $282k, net assets of -$94k. It reported 2 employees.