First Colony Swim Team Inc

Analysis

First Colony Swim Team Inc is a registered charity in United States, based in Missouri City, TX. It received its IRS tax-exemption ruling in December 1985, 41 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 August 2023, First Colony Swim Team Inc reported income of $2.2m and spending of $2.2m, spending 99% of its income. Across the 4 years on record, from August 2020 to August 2023, income grew from $1.3m to $2.2m (+71%), an average of +20% a year. The sharpest change came in the year to August 2021, when income rose by 37%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, First Colony Swim Team Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include United Way of Henry County & Martinsville Inc ($2.2m), Because I Said I Would ($2.2m) and Rainbow Homes Inc ($2.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 0.0% and program service revenue 96% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $867k against liabilities of $12k, net assets of $854k.