Richfield Swim Club

Analysis

Richfield Swim Club is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in May 2021, 5 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, Richfield Swim Club reported income of $288k and spending of $215k, leaving 25% of income unspent that year. Across the 6 years on record, from August 2018 to August 2023, income grew from $251k to $288k (+15%), an average of +2.8% a year. The sharpest change came in the year to August 2021, when income rose by 36%. 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, Richfield Swim Club sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 60th percentile within MN. Charities of a similar size with the same main cause include Johnstown Youth Athletic Association Inc ($288k), Matadors Baseball Academy ($288k) and Lanier Athletic Association Inc ($288k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 0.6% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $56k (26% of expenses). Other salaries and wages came to $47k. At year end it held assets of $186k against liabilities of $0, net assets of $186k. It reported 12 employees.