V3 Sports Inc

Analysis

V3 Sports Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in August 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, V3 Sports Inc reported income of $23.2m and spending of $14.5m, leaving 38% of income unspent that year. The sharpest change came in the year to December 2022, when income rose by 185%. Over the whole period it spent 35% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, V3 Sports Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MN. Charities of a similar size with the same main cause include Indiana Sports Corporation ($22.8m), City Parks Foundation Inc ($23.4m) and Los Angeles Sports & Entertainment Commission ($22.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $189k (1.3% of expenses). Other salaries and wages came to $149k. It paid $126k in professional fundraising fees. At year end it held assets of $27.9m against liabilities of $2.8m, net assets of $25.0m. It reported 19 employees.