Elite Gymnastics Academy Inc

Analysis

Elite Gymnastics Academy Inc is a registered charity in United States, based in North Freedom, WI. It received its IRS tax-exemption ruling in August 2020, 6 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 December 2023, Elite Gymnastics Academy Inc reported income of $227k and spending of $197k, spending 87% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $141k to $227k (+62%), an average of +27% a year. The sharpest change came in the year to December 2022, when income rose by 30%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Elite Gymnastics Academy Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 56th percentile within WI. Charities of a similar size with the same main cause include Lopez Canyon Conference Center ($227k), Waves of Wilmington Inc ($227k) and PTA California Congress of Parents Teachers & Students Inc ($227k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $74k (38% of expenses). Other salaries and wages came to $5,213. At year end it held assets of $53k against liabilities of $25k, net assets of $28k. It reported 5 employees.