Charlotte Sports Foundation

Analysis

Charlotte Sports Foundation is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in June 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Charlotte Sports Foundation reported income of $18.5m and spending of $16.1m, spending 87% of its income. Across the 4 years on record, from March 2020 to March 2023, income grew from $13.7m to $18.5m (+35%), an average of +10% a year. The sharpest change came in the year to March 2022, when income rose by 31%. Over the whole period it spent 86% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Charlotte Sports Foundation sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Greater Midland Community Centers Inc ($18.2m), Lift for Life Academy Inc ($18.8m) and U S Kids Golf Foundation Inc ($18.0m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 39% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $678k (4.2% of expenses). Other salaries and wages came to $529k. At year end it held assets of $18.0m against liabilities of $572k, net assets of $17.4m. It reported 8 employees.