Ghisallo Cycling Initiative

Analysis

Ghisallo Cycling Initiative is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in May 2013, 13 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ghisallo Cycling Initiative reported income of $562k and spending of $721k, spending 128% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $562k (-49%), an average of -16% a year. The sharpest change came in the year to December 2021, when income dropped by 24%. 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, Ghisallo Cycling Initiative sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within TX. Charities of a similar size with the same main cause include Carolina Aquatics Swim Club Inc ($562k), Playmaker Futbol Academy ($562k) and Chesapeake United Soccer Club Inc ($562k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $80k (11% of expenses). Other salaries and wages came to $340k. At year end it held assets of $857k against liabilities of $54k, net assets of $803k. It reported 15 employees.