Memphis State Swimming Inc

Analysis

Memphis State Swimming Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in September 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Memphis State Swimming Inc reported income of $437k and spending of $366k, spending 84% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $355k to $437k (+23%), an average of +4.2% a year. The sharpest change came in the year to June 2023, when income rose by 3201%. Over the whole period it spent 101% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Memphis State Swimming Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 69th percentile within TN. Charities of a similar size with the same main cause include Ashley Ridge Athletics Booster Club ($437k), USA Swimming Inc ($437k) and Trenton Youth Wrestling and Learing Center ($437k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 13% and program service revenue 86% of the total. Other salaries and wages came to $170k. At year end it held assets of $102k against liabilities of $1,774, net assets of $100k. It reported 9 employees.