Albany Area Gymnastics Association

Analysis

Albany Area Gymnastics Association is a registered charity in United States, based in Albany, MN. 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 (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, Albany Area Gymnastics Association reported income of $365k and spending of $326k, spending 89% of its income. The sharpest change came in the year to December 2022, when income rose by 30%. Over the whole period it spent 54% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Albany Area Gymnastics Association sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within MN. Charities of a similar size with the same main cause include Tre & Associates Inc ($365k), United Soccer Club Inc ($366k) and Connecticut Jr Huskies ($365k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $47k (14% of expenses). Other salaries and wages came to $62k. At year end it held assets of $1.4m against liabilities of $1.1m, net assets of $328k. It reported 22 employees.