1st US Volunteer Cavalry Regiment

Analysis

1st US Volunteer Cavalry Regiment is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in January 1981, 45 years ago. 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 September 2023, 1st US Volunteer Cavalry Regiment reported income of $408k and spending of $466k, spending 114% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $450k to $408k (-9.3%), an average of -2.4% a year. The sharpest change came in the year to September 2020, when income dropped by 17%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, 1st US Volunteer Cavalry Regiment sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 70th percentile within FL. Charities of a similar size with the same main cause include Well House ($408k), 32nd Street Farmers Market Inc ($408k) and Molalla River Watch Inc ($408k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 86% and program service revenue 6.5% of the total. Other salaries and wages came to $31k. At year end it held assets of $1.1m against liabilities of $372k, net assets of $707k. It reported 1 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.