Myc Youth Sailing Foundation Inc

Analysis

Myc Youth Sailing Foundation Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in February 1992, 34 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 March 2023, Myc Youth Sailing Foundation Inc reported income of $367k and spending of $327k, spending 89% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $296k to $367k (+24%), an average of +5.5% a year. The sharpest change came in the year to March 2022, when income rose by 55%. Over the whole period it spent 88% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Myc Youth Sailing Foundation Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 68th percentile within FL. Charities of a similar size with the same main cause include North Carolina Baseball Academy Baseball Clubs Inc ($367k), Rocky Mountain District Hockey Inc ($367k) and Cambridge-Isanti Arena Corporation ($367k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 1.9% and program service revenue 98% of the total. Other salaries and wages came to $99k. At year end it held assets of $421k against liabilities of $0, net assets of $421k. It reported 3 employees.