St Thomas Yacht Club Foundation

Analysis

St Thomas Yacht Club Foundation is a registered charity in United States, based in Charlotte Ama, VI. It received its IRS tax-exemption ruling in April 2020, 6 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 December 2023, St Thomas Yacht Club Foundation reported income of $77k and spending of $157k, spending 203% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $158k to $77k (-51%), an average of -51% a year. The sharpest change came in the year to December 2023, when income dropped by 51%. Over the whole period it spent 94% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, St Thomas Yacht Club Foundation sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 36th percentile within VI. Charities of a similar size with the same main cause include Mt Pleasant Figure Skating Club ($77k), Cedar Rapids Girls Fastpitch Softball Association ($77k) and Grady County Dawgs Youth Football Team ($77k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $47k against liabilities of $0, net assets of $47k.