Casco Bay Arena Inc

Analysis

Casco Bay Arena Inc is a registered charity in United States, based in Yarmouth, ME. It received its IRS tax-exemption ruling in September 2016, 10 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 June 2024, Casco Bay Arena Inc reported income of $478k and spending of $363k, leaving 24% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $280k to $478k (+71%), an average of +11% a year. The sharpest change came in the year to June 2024, when income rose by 42%. Over the whole period it spent 99% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Casco Bay Arena 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 69th percentile, and in the 66th percentile within ME. Charities of a similar size with the same main cause include Magic City Enterprises Foundation ($478k), Lake Wylie Athletic Association Inc ($478k) and Stonington Community Rowing Center ($478k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.5% and program service revenue 95% of the total. At year end it held assets of $2.0m against liabilities of $1.6m, net assets of $381k.