Velocity Aquatics

Analysis

Velocity Aquatics is a registered charity in United States, based in Delano, MN. It received its IRS tax-exemption ruling in December 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 August 2024, Velocity Aquatics reported income of $267k and spending of $265k, spending 99% of its income. Across the 4 years on record, from August 2021 to August 2024, income grew from $221k to $267k (+21%), an average of +6.6% a year. 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, Velocity Aquatics sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within MN. Charities of a similar size with the same main cause include Tempe Rowing Club ($267k), Westerville Amateur Soccer Association Inc ($267k) and Elk River Youth Baseball ($267k).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 0.8% and program service revenue 79% of the total. Other salaries and wages came to $165k. At year end it held assets of $101k against liabilities of $49k, net assets of $52k. It reported 17 employees.