Prime Aquatics Inc

Analysis

Prime Aquatics Inc is a registered charity in United States, based in Alcoa, TN. It received its IRS tax-exemption ruling in August 2016, 10 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 December 2023, Prime Aquatics Inc reported income of $353k and spending of $353k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $435k to $353k (-19%), an average of -5.1% a year. The sharpest change came in the year to December 2021, when income rose by 29%. 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, Prime Aquatics Inc 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 65th percentile, and in the 66th percentile within TN. Charities of a similar size with the same main cause include Red Wing High School Hockey Club ($353k), Lexington Youth Soccer Association Inc ($353k) and San Diego East County Aquatics ($353k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 10% and program service revenue 90% of the total. Other salaries and wages came to $133k. At year end it held assets of $300k against liabilities of $41, net assets of $299k. It reported 9 employees.