Minnesota Flyers Gymnastics Inc

Analysis

Minnesota Flyers Gymnastics Inc is a registered charity in United States, based in Detroit Lakes, MN. It received its IRS tax-exemption ruling in April 1997, 29 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 2023, Minnesota Flyers Gymnastics Inc reported income of $884k and spending of $538k, leaving 39% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $400k to $884k (+121%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 69%. Over the whole period it spent 84% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Minnesota Flyers Gymnastics Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within MN. Charities of a similar size with the same main cause include North Carolina Recreation and Park Association Inc ($884k), CF Academy Inc ($885k) and Colorado Titans Basketball Club ($884k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 43% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $29k (5.4% of expenses). Other salaries and wages came to $319k. At year end it held assets of $790k against liabilities of $12k, net assets of $778k. It reported 46 employees.