Magic City Figure Skating Club

Analysis

Magic City Figure Skating Club is a registered charity in United States, based in Minot, ND. It received its IRS tax-exemption ruling in September 1983, 43 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 June 2024, Magic City Figure Skating Club reported income of $323k and spending of $289k, spending 89% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $156k to $323k (+107%), an average of +16% a year. The sharpest change came in the year to June 2021, when income rose by 52%. Over the whole period it spent 90% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Magic City Figure Skating Club sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 58th percentile within ND. Charities of a similar size with the same main cause include Valley Foundation Inc ($323k), Stonewall Sports ($324k) and Community Assisted Tenant Controlled Housing Inc ($323k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 9.0% and program service revenue 65% of the total. Other salaries and wages came to $84k. At year end it held assets of $280k against liabilities of $1,700, net assets of $278k. It reported 13 employees.