Sarasota Sharks Incorporated

Analysis

Sarasota Sharks Incorporated is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in September 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 June 2023, Sarasota Sharks Incorporated reported income of $1.7m and spending of $1.4m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $1.7m (+13%), an average of +3.0% a year. The sharpest change came in the year to June 2020, when income dropped by 44%. Over the whole period it spent 79% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Sarasota Sharks Incorporated sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within FL. Charities of a similar size with the same main cause include Yuma Study Center Inc ($1.7m), Camp Gray Inc ($1.7m) and George & Raymond Frank Foundation ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 20% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $117k (8.4% of expenses). Other salaries and wages came to $594k. At year end it held assets of $1.9m against liabilities of $239k, net assets of $1.7m. It reported 46 employees.