Braemar-City of Lakes Figure Skating Club

Analysis

Braemar-City of Lakes Figure Skating Club is a registered charity in United States, based in Edina, MN. It received its IRS tax-exemption ruling in March 1989, 37 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 May 2023, Braemar-City of Lakes Figure Skating Club reported income of $397k and spending of $366k, spending 92% of its income. Across the 4 years on record, from May 2020 to May 2023, income grew from $254k to $397k (+56%), an average of +16% a year. The sharpest change came in the year to May 2022, when income rose by 31%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Braemar-City of Lakes Figure Skating Club sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within MN. Charities of a similar size with the same main cause include Christian Service Council of Grant County ($397k), Lone Star Circus Arts Center Inc ($397k) and New York Appleseed Inc ($397k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 4.7% and program service revenue 93% of the total. At year end it held assets of $293k against liabilities of $310, net assets of $293k.