Open Squash Inc

Analysis

Open Squash Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 2014, 12 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, Open Squash Inc reported income of $4.0m and spending of $4.2m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $321k to $4.0m (+1158%), an average of +88% a year. The sharpest change came in the year to December 2020, when income rose by 1281%. Over the whole period it spent 105% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Open Squash Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include Camp Solomon Schechter Inc ($4.0m), Waller County Fair Association ($4.0m) and Angels Baseball Foundation Inc ($4.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $113k (2.7% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $13.4m against liabilities of $14.6m, net assets of -$1.1m. It reported 21 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.