Summit Basketball Club

Analysis

Summit Basketball Club is a registered charity in United States, based in Summit, NJ. It received its IRS tax-exemption ruling in July 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 December 2023, Summit Basketball Club reported income of $177k and spending of $152k, spending 86% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $129k to $177k (+37%), an average of +37% a year. The sharpest change came in the year to December 2023, when income rose by 37%. Over the whole period it spent 93% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Summit Basketball Club sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 58th percentile within NJ. Charities of a similar size with the same main cause include Cherokee Bluff Junior Bears Football and Cheerleading Organiza ($177k), West Portsmouth Youth Basketballassociation Inc ($177k) and Sparta Sports Boosters ($177k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 5.6% and program service revenue 94% of the total. At year end it held assets of $97k against liabilities of $0, net assets of $97k.