First State Gymnastics Athletic Association

Analysis

First State Gymnastics Athletic Association is a registered charity in United States, based in Newark, DE. It received its IRS tax-exemption ruling in March 1999, 27 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 June 2024, First State Gymnastics Athletic Association reported income of $51k and spending of $60k, spending 116% of what it took in. Across the 2 years on record, from June 2023 to June 2024, income fell from $62k to $51k (-17%), an average of -17% a year. The sharpest change came in the year to June 2024, when income dropped by 17%. Over the whole period it spent 108% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, First State Gymnastics Athletic Association sits at the 21st percentile: it is larger than about 21% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 18th percentile within DE. Charities of a similar size with the same main cause include Southeast Polk Youth Tackle Football League ($51k), Munising Hockey Assocation ($51k) and Hawthorne Soccer Association ($51k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 12% and program service revenue 93% of the total. At year end it held assets of $5,621 against liabilities of $0, net assets of $5,621.