Velodrome Development Foundation

Analysis

Velodrome Development Foundation is a registered charity in United States, based in West Chester, PA. It received its IRS tax-exemption ruling in April 2018, 8 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Velodrome Development Foundation reported income of $86k and spending of $99k, spending 116% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $153k to $86k (-44%), an average of -25% a year. The sharpest change came in the year to December 2022, when income dropped by 59%. Over the whole period it spent 101% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Velodrome Development Foundation sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 31st percentile within PA. Charities of a similar size with the same main cause include Grayson Mens Tip Off Club Inc ($86k), It Starts with Soccer ($86k) and Manchester Township Athletic Association ($86k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. It paid $60k in professional fundraising fees. At year end it held assets of $2,135 against liabilities of $0, net assets of $2,135.