Old Bridge Hoops Academy Inc

Analysis

Old Bridge Hoops Academy Inc is a registered charity in United States, based in Old Bridge, NJ. It received its IRS tax-exemption ruling in July 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 December 2023, Old Bridge Hoops Academy Inc reported income of $89k and spending of $81k, spending 92% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $67k to $89k (+33%), an average of +33% a year. The sharpest change came in the year to December 2023, when income rose by 33%. Over the whole period it spent 90% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Old Bridge Hoops Academy Inc sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 41st percentile within NJ. Charities of a similar size with the same main cause include San Antonio Sports Association Inc ($89k), Elk River Zimmerman Rogers Youth Football ($89k) and American Youth Football Inc ($89k).

On its Form 990-EZ for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $1 against liabilities of $0, net assets of $1.