Tennessee Aquatics Inc

Analysis

Tennessee Aquatics Inc is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in April 1995, 31 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, Tennessee Aquatics Inc reported income of $1.2m and spending of $1.2m, spending 95% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $894k to $1.2m (+39%), an average of +8.5% a year. The sharpest change came in the year to August 2022, when income rose by 55%. 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, Tennessee Aquatics Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within TN. Charities of a similar size with the same main cause include Academy Sports of Long Island Inc ($1.2m), New England Mountain Bike Association Inc ($1.2m) and Boerne Soccer Club Inc ($1.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 71% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $90k (7.7% of expenses). Other salaries and wages came to $420k. At year end it held assets of $219k against liabilities of $192k, net assets of $28k. It reported 38 employees.