Poseidon Swimming Inc

Analysis

Poseidon Swimming Inc is a registered charity in United States, based in Chesterfld, VA. It received its IRS tax-exemption ruling in February 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 August 2023, Poseidon Swimming Inc reported income of $697k and spending of $720k, spending 103% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $687k to $697k (+1.5%), an average of +0.4% a year. The sharpest change came in the year to August 2020, when income dropped by 20%. Over the whole period it spent 98% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Poseidon Swimming Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within VA. Charities of a similar size with the same main cause include Gallatin Valley Golf Association ($697k), Socal Aquatics Association ($697k) and Byron Bible Camp ($697k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 72% and program service revenue 26% of the total. Other salaries and wages came to $235k. At year end it held assets of $262k against liabilities of $61k, net assets of $200k. It reported 22 employees.