Sport and Entertainment Corporation of Maryland

Analysis

Sport and Entertainment Corporation of Maryland is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in November 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 December 2023, Sport and Entertainment Corporation of Maryland reported income of $14.4m and spending of $11.3m, leaving 22% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $688k to $14.4m (+1987%), an average of +175% a year. The sharpest change came in the year to December 2022, when income rose by 295%. Over the whole period it spent 103% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Sport and Entertainment Corporation of Maryland sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MD. Charities of a similar size with the same main cause include Town Branch Park Inc ($14.3m), Fresh Air Society ($14.4m) and Divers Alert Network ($14.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $175k (1.6% of expenses). Other salaries and wages came to $263k. At year end it held assets of $246k against liabilities of $0, net assets of $246k. It reported 4 employees.