Frederick Area Swim Team Inc

Analysis

Frederick Area Swim Team Inc is a registered charity in United States, based in Frederick, MD. It received its IRS tax-exemption ruling in April 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 December 2023, Frederick Area Swim Team Inc reported income of $383k and spending of $309k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $259k to $383k (+48%), an average of +10% a year. The sharpest change came in the year to December 2023, when income rose by 33%. Over the whole period it spent 84% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Frederick Area Swim Team Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 66th percentile within MD. Charities of a similar size with the same main cause include Jam Hops Gymnastics Booster Club ($383k), Wabash Valley Family Sports Center Inc ($383k) and Hernando Soccer Club Inc ($382k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $107k (35% of expenses). Other salaries and wages came to $77k. At year end it held assets of $575k against liabilities of $8,000, net assets of $567k. It reported 19 employees.