Quicksilver Swimming

Analysis

Quicksilver Swimming is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in March 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Quicksilver Swimming reported income of $2.6m and spending of $2.4m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $2.6m (+92%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 66%. Over the whole period it spent 92% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Quicksilver Swimming sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include South Atlantic Conference ($2.6m), Triangle Volleyball Club Inc ($2.6m) and Middle Tyger Community Center ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.8% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $457k (19% of expenses). Other salaries and wages came to $842k. At year end it held assets of $1.3m against liabilities of $245k, net assets of $1.0m. It reported 29 employees.