Metropolitan Richmond Sports Backers Inc

Analysis

Metropolitan Richmond Sports Backers Inc is a registered charity in United States, based in Henrico, VA. It received its IRS tax-exemption ruling in July 1993, 33 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Metropolitan Richmond Sports Backers Inc reported income of $7.1m and spending of $6.9m, spending 97% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $4.2m to $7.1m (+70%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 32%. Over the whole period it spent 99% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Metropolitan Richmond Sports Backers Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within VA. Charities of a similar size with the same main cause include Maryland State Fair and Agricultural Society Inc ($7.0m), Tga USA ($7.1m) and Special Olympics Maryland Inc ($7.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 21% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $302k (4.4% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $3.2m against liabilities of $1.6m, net assets of $1.7m. It reported 39 employees.