Qi Tao Inc

Analysis

Qi Tao Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 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, Qi Tao Inc reported income of $82k and spending of $83k, spending 102% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $74k to $82k (+11%), an average of +11% a year. Over the whole period it spent 101% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Qi Tao Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 32nd percentile within NY. Charities of a similar size with the same main cause include Downingtown East Ice Hockey Club ($81k), Champlin Park HS Dugout Club ($82k) and NLV Ice Hockey Booster Club ($81k).

On its Form 990-EZ for the period ending December 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $3,771 against liabilities of $35k, net assets of -$31k.