Metropolitan Equestrian Team Inc

Analysis

Metropolitan Equestrian Team Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2011, 15 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 March 2023, Metropolitan Equestrian Team Inc reported income of $692k and spending of $1.1m, spending 154% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income grew from $242k to $692k (+186%), an average of +42% a year. The sharpest change came in the year to March 2022, when income rose by 79%. Over the whole period it spent 129% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Metropolitan Equestrian Team Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Carolina Rise ($692k), Orono Westonka Soccer Club Inc ($692k) and Elkhorn Valley Christian Service Camp ($692k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 99% and program service revenue 1.3% of the total. Compensation of current officers, directors and key employees was $233k (22% of expenses). Other salaries and wages came to $1,908. At year end it held assets of $336k against liabilities of $568k, net assets of -$232k. It reported 7 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.