Gymnastics Inc

Analysis

Gymnastics Inc is a registered charity in United States, based in Minot, ND. It received its IRS tax-exemption ruling in March 1992, 34 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, Gymnastics Inc reported income of $519k and spending of $497k, spending 96% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $370k to $519k (+40%), an average of +7.0% a year. The sharpest change came in the year to June 2021, when income rose by 25%. Over the whole period it spent 93% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Gymnastics Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 67th percentile within ND. Charities of a similar size with the same main cause include Whatcom County Youth Soccer Association ($519k), Portland Ultimate ($519k) and California Interscholastic Federation Foundation ($519k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 1.7% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $74k (15% of expenses). Other salaries and wages came to $137k. At year end it held assets of $2.3m against liabilities of $1.5m, net assets of $841k. It reported 37 employees.