Carolina Aquatic Team

Analysis

Carolina Aquatic Team is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in March 2003, 23 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 2023, Carolina Aquatic Team reported income of $549k and spending of $452k, spending 82% of its income. Across the 4 years on record, from July 2020 to July 2023, income grew from $333k to $549k (+65%), an average of +18% a year. The sharpest change came in the year to July 2022, when income rose by 32%. Over the whole period it spent 96% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Carolina Aquatic Team sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 71st percentile within NC. Charities of a similar size with the same main cause include Severna Park Swimming Association Inc ($549k), Elgin Stampeders Association Inc ($549k) and Ottawa County Parks Foundation Inc ($549k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 0.8% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $48k (11% of expenses). Other salaries and wages came to $94k. At year end it held assets of $178k against liabilities of $0, net assets of $178k. It reported 9 employees.