Storm Aquatics

Analysis

Storm Aquatics is a registered charity in United States, based in Lake Stevens, WA. It received its IRS tax-exemption ruling in July 2004, 22 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 August 2023, Storm Aquatics reported income of $141k and spending of $155k, spending 110% of what it took in. Across the 2 years on record, from August 2022 to August 2023, income fell from $180k to $141k (-22%), an average of -22% a year. The sharpest change came in the year to August 2023, when income dropped by 22%. Over the whole period it spent 102% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Storm Aquatics sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 42nd percentile within WA. Charities of a similar size with the same main cause include Rocky Mountain HS Baseball Assoc ($141k), Track Shack Youth Foundation Inc ($141k) and Smithtown Township Lacrosse Inc ($141k).

On its Form 990-EZ for the period ending August 2023, revenue came from contributions and grants 21% of the total. At year end it held assets of $37k against liabilities of $0, net assets of $37k.