Valley Area Swim Team Inc

Analysis

Valley Area Swim Team Inc is a registered charity in United States, based in Harrisonburg, VA. It received its IRS tax-exemption ruling in November 1992, 34 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 July 2024, Valley Area Swim Team Inc reported income of $265k and spending of $288k, spending 109% of what it took in. Across the 3 years on record, from July 2022 to July 2024, income grew from $159k to $265k (+66%), an average of +29% a year. The sharpest change came in the year to July 2023, when income rose by 43%. Over the whole period it spent 105% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Valley Area Swim Team Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within VA. Charities of a similar size with the same main cause include Outdoor Buddies Inc ($264k), 10th Mountain Lacrosse Inc ($265k) and Highlands Travel Baseball a NJ Nonprofit Corporation ($264k).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 92% of the total. Other salaries and wages came to $129k. At year end it held assets of $85k against liabilities of $3,521, net assets of $82k. It reported 14 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.