Sharks Swim Club

Analysis

Sharks Swim Club is a registered charity in United States, based in Friendswood, TX. It received its IRS tax-exemption ruling in May 2018, 8 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 July 2024, Sharks Swim Club reported income of $976k and spending of $931k, spending 95% of its income. Across the 6 years on record, from July 2019 to July 2024, income grew from $552k to $976k (+77%), an average of +12% a year. The sharpest change came in the year to July 2021, when income rose by 53%. Over the whole period it spent 93% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Sharks Swim Club sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 83rd percentile within TX. Charities of a similar size with the same main cause include Death Valley Conservancy ($975k), Camp Chaverim Inc ($977k) and 1000gm Inc ($975k).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 18% and program service revenue 82% of the total. Other salaries and wages came to $397k. At year end it held assets of $449k against liabilities of $0, net assets of $449k. It reported 31 employees.