Verona Area Swim Team

Analysis

Verona Area Swim Team is a registered charity in United States, based in Verona, WI. It received its IRS tax-exemption ruling in April 2019, 7 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 August 2023, Verona Area Swim Team reported income of $446k and spending of $406k, spending 91% of its income. Across the 2 years on record, from August 2022 to August 2023, income grew from $275k to $446k (+62%), an average of +62% a year. The sharpest change came in the year to August 2023, when income rose by 62%. Over the whole period it spent 88% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Verona Area Swim Team 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 WI. Charities of a similar size with the same main cause include Chequamegon Area Mountain Bike Association ($446k), Santa Margarita Pop Warner Inc ($446k) and United States Australian Football League ($446k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 3.4% and program service revenue 98% of the total. Other salaries and wages came to $124k. At year end it held assets of $187k against liabilities of $82k, net assets of $105k. It reported 9 employees.