Sokol Gymnastic Association of West Texas

Analysis

Sokol Gymnastic Association of West Texas is a registered charity in United States, based in West, TX. It received its IRS tax-exemption ruling in January 1982, 44 years ago. 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 September 2023, Sokol Gymnastic Association of West Texas reported income of $96k and spending of $110k, spending 115% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $56k to $96k (+70%), an average of +14% a year. The sharpest change came in the year to September 2022, when income rose by 45%. Over the whole period it spent 136% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sokol Gymnastic Association of West Texas sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 38th percentile within TX. Charities of a similar size with the same main cause include Mustard Seed Global Evangelistic Ministries ($96k), North Olmsted Soccer Organization ($96k) and Little League Baseball Inc ($96k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 13% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $4,462 (4.0% of expenses). Other salaries and wages came to $8,952. At year end it held assets of $1.1m against liabilities of $171k, net assets of $955k. It reported 11 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.