Watertown Area Swim Club

Analysis

Watertown Area Swim Club is a registered charity in United States, based in Watertown, SD. It received its IRS tax-exemption ruling in March 1977, 49 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 August 2023, Watertown Area Swim Club reported income of $272k and spending of $274k, spending 101% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $225k to $272k (+21%), an average of +4.8% a year. The sharpest change came in the year to August 2021, when income rose by 38%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Watertown Area Swim Club sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within SD. Charities of a similar size with the same main cause include Amador County Arts Council ($272k), Hilltop Education Corporation ($272k) and Daily Bread Ministries Inc ($272k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 62% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $38k (14% of expenses). Other salaries and wages came to $93k. At year end it held assets of $180k against liabilities of $555, net assets of $180k. It reported 16 employees.