Aqualympics Inc

Analysis

Aqualympics Inc is a registered charity in United States, based in Flushing, NY. It received its IRS tax-exemption ruling in September 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, Aqualympics Inc reported income of $495k and spending of $489k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $621k to $495k (-20%), an average of -5.5% a year. The sharpest change came in the year to December 2022, when income rose by 122%. Over the whole period it spent 103% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Aqualympics Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include St Viator Lions Hockey Club ($495k), Folsom Youth Basketball Association ($495k) and Gotham Girls FC Inc ($494k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $244k. At year end it held assets of $114k against liabilities of $146k, net assets of -$32k. It reported 43 employees.