Summit Gymnastics

Analysis

Summit Gymnastics is a registered charity in United States, based in Buffalo, WY. It received its IRS tax-exemption ruling in October 2005, 21 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 February 2024, Summit Gymnastics reported income of $75k and spending of $83k, spending 110% of what it took in. Across the 2 years on record, from February 2023 to February 2024, income grew from $69k to $75k (+8.2%), an average of +8.2% a year. Over the whole period it spent 114% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Summit Gymnastics sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 24th percentile within WY. Charities of a similar size with the same main cause include Central Bucks East Football Parents Club ($75k), O M N I Swim Club Inc ($75k) and Midland Empire Sports Association ($75k).

On its Form 990-EZ for the period ending February 2024, revenue came from contributions and grants 20% of the total. At year end it held assets of $35k against liabilities of $147, net assets of $35k.