Woodlands Swim Team

Analysis

Woodlands Swim Team is a registered charity in United States, based in The Woodlands, TX. It received its IRS tax-exemption ruling in April 1986, 40 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, Woodlands Swim Team reported income of $1.2m and spending of $1.2m, spending 99% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.1m to $1.2m (+5.8%), an average of +1.4% a year. The sharpest change came in the year to August 2020, when income dropped by 32%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Woodlands Swim Team sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 85th percentile within TX. Charities of a similar size with the same main cause include White Horse Village Endowment Fund Inc ($1.2m), Northeast Michigan Family Resource Center Inc ($1.2m) and Chaska Community Hockey Association Inc ($1.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 0.8% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $85k (7.2% of expenses). Other salaries and wages came to $497k. At year end it held assets of $749k against liabilities of $44k, net assets of $705k. It reported 28 employees.