Patriot Aquatics

Analysis

Patriot Aquatics is a registered charity in United States, based in Irvine, CA. It received its IRS tax-exemption ruling in July 2015, 11 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 2022, Patriot Aquatics reported income of $660k and spending of $781k, spending 118% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $478k to $660k (+38%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 108%. Over the whole period it spent 118% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Patriot Aquatics sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 76th percentile within CA. Charities of a similar size with the same main cause include Tarkanian Basketball Academy Inc ($660k), Lancaster Aquatic Club ($661k) and South Jersey Hockey Club Inc ($660k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 5.7% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $169k (22% of expenses). Other salaries and wages came to $250k. At year end it held assets of $73k against liabilities of $240k, net assets of -$167k. 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.