Miami Hype

Analysis

Miami Hype is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in August 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 (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, Miami Hype reported income of $1.6m and spending of $1.6m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $563k to $1.6m (+185%), an average of +30% a year. The sharpest change came in the year to December 2021, when income rose by 141%. 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, Miami Hype sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within FL. Charities of a similar size with the same main cause include South Bend Youth Hockey Inc ($1.6m), Family YMCA of Emporia Greensville ($1.6m) and Plano Balloon Festival Inc ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $30k (1.9% of expenses). At year end it held assets of $947k against liabilities of $944k, net assets of $2,709.