Cypress-Fairbanks Swim Club Inc

Analysis

Cypress-Fairbanks Swim Club Inc is a registered charity in United States, based in Cypress, TX. It received its IRS tax-exemption ruling in October 2021, 5 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 2022, Cypress-Fairbanks Swim Club Inc reported income of $1.8m and spending of $2.2m, spending 120% of what it took in. Across the 6 years on record, from August 2017 to August 2022, income grew from $1.6m to $1.8m (+13%), an average of +2.5% a year. The sharpest change came in the year to August 2021, when income rose by 42%. Over the whole period it spent 102% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Cypress-Fairbanks Swim Club Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 88th percentile within TX. Charities of a similar size with the same main cause include Texas Book Festival ($1.8m), Avalon Football Club ($1.8m) and Nordic Skiing Association of Anchorage ($1.8m).

On its Form 990 for the period ending August 2022, revenue came from contributions and grants 0.5% and program service revenue 99% of the total. Other salaries and wages came to $691k. At year end it held assets of $2.0m against liabilities of $0, net assets of $2.0m. It reported 96 employees.