Classic Basketball Inc

Analysis

Classic Basketball Inc is a registered charity in United States, based in Fort Myers, FL. It received its IRS tax-exemption ruling in July 1991, 35 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 March 2023, Classic Basketball Inc reported income of $523k and spending of $507k, spending 97% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $425k to $523k (+23%), an average of +5.4% a year. The sharpest change came in the year to March 2022, when income rose by 2466%. Over the whole period it spent 112% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Classic Basketball Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 73rd percentile within FL. Charities of a similar size with the same main cause include Central Minnesota Basketball Club Inc ($523k), Papakolea Community Development Corporation ($523k) and Monroe Camp and Retreat Center Inc ($523k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 3.4% and program service revenue 95% of the total. At year end it held assets of $206k against liabilities of $0, net assets of $206k.