Los Angeles Organizing Committee for the Olympic and Paralympic Gam

Analysis

Los Angeles Organizing Committee for the Olympic and Paralympic Gam is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in February 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 (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, Los Angeles Organizing Committee for the Olympic and Paralympic Gam reported income of $12.3m and spending of $78.4m, spending 635% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $567k to $12.3m (+2079%), an average of +85% a year. The sharpest change came in the year to December 2021, when income rose by 736%. Over the whole period it spent 420% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Los Angeles Organizing Committee for the Olympic and Paralympic Gam sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Aloha Foundation Inc ($12.3m), 661 Foundation ($12.5m) and United States Fencing Association ($12.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $11.0m (14% of expenses). Other salaries and wages came to $20.6m. At year end it held assets of $141.7m against liabilities of $361.4m, net assets of -$219.7m. It reported 157 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.