City of Midland Aquatics Inc

Analysis

City of Midland Aquatics Inc is a registered charity in United States, based in Midland, TX. It received its IRS tax-exemption ruling in September 1968, 58 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 December 2023, City of Midland Aquatics Inc reported income of $5.9m and spending of $4.5m, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.8m to $5.9m (+53%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 34%. Over the whole period it spent 92% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, City of Midland Aquatics Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within TX. Charities of a similar size with the same main cause include Friends of Great Smoky Mountain National Park Inc ($5.9m), Central Washington Fair Association ($5.9m) and Fsga Foundation Inc ($5.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $230k (5.1% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $16.9m against liabilities of $265k, net assets of $16.6m. It reported 195 employees.