Biles World Champions Gymnastics Foundation

Analysis

Biles World Champions Gymnastics Foundation is a registered charity in United States, based in Spring, TX. It received its IRS tax-exemption ruling in April 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 July 2022, Biles World Champions Gymnastics Foundation reported income of $279k and spending of $318k, spending 114% of what it took in. Across the 3 years on record, from July 2020 to July 2022, income grew from $227k to $279k (+23%), an average of +11% a year. The sharpest change came in the year to July 2022, when income rose by 23%. Over the whole period it spent 100% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Biles World Champions Gymnastics Foundation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 65th percentile within TX. Charities of a similar size with the same main cause include Mudsock Youth Soccer Inc ($279k), South Eastern Aquatics Inc ($279k) and Tye Economic Development Corporation ($279k).

On its Form 990 for the period ending July 2022, revenue came from program service revenue 97% of the total. At year end it held assets of $56k against liabilities of $0, net assets of $56k.