Iconic32 Sports Lab Inc

Analysis

Iconic32 Sports Lab Inc is a registered charity in United States, based in Floral Park, NY. It received its IRS tax-exemption ruling in March 2024, 2 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Iconic32 Sports Lab Inc reported income of $198k and spending of $168k, spending 85% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $10k to $198k (+1829%), an average of +168% a year. The sharpest change came in the year to December 2022, when income rose by 517%. Over the whole period it spent 62% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Iconic32 Sports Lab Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 51st percentile within NY. Charities of a similar size with the same main cause include Greater Melbourne Police Athletic League Inc ($198k), Hartland Youth Lacrosse Inc ($198k) and Triad United Rowing Association ($198k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $30k against liabilities of $0, net assets of $30k.