Lets Skate

Analysis

Lets Skate is a registered charity in United States, based in Sioux Falls, SD. It received its IRS tax-exemption ruling in January 2021, 5 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, Lets Skate reported income of $445k and spending of $137k, leaving 69% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $852k to $445k (-48%), an average of -48% a year. The sharpest change came in the year to December 2023, when income dropped by 48%. Over the whole period it spent 27% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Lets Skate sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within SD. Charities of a similar size with the same main cause include Rio Grande Valley Community Foundation ($445k), Coon Rapids Mat Bandits Wrestling Club ($445k) and Jefferson Charitable Golf Foundatio N Inc ($445k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $56k (41% of expenses). Other salaries and wages came to $34k. At year end it held assets of $1.4m against liabilities of $0, net assets of $1.4m. It reported 2 employees.