Halo Sports Inc

Analysis

Halo Sports Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in December 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, Halo Sports Inc reported income of $400k and spending of $313k, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $204k to $400k (+96%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 31%. Over the whole period it spent 95% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Halo Sports Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 66th percentile within NC. Charities of a similar size with the same main cause include Drive Nation Foundation ($400k), St Croix Swim Club ($400k) and Pompano Piranhas Inc ($399k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.5% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $161k (51% of expenses). At year end it held assets of $35k against liabilities of $2,362, net assets of $33k. It reported 4 employees.