Colorado Dragon Boat Festival

Analysis

Colorado Dragon Boat Festival is a registered charity in United States, based in Wheat Ridge, CO. It received its IRS tax-exemption ruling in June 2003, 23 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 October 2023, Colorado Dragon Boat Festival reported income of $582k and spending of $512k, spending 88% of its income. Across the 5 years on record, from October 2019 to October 2023, income grew from $390k to $582k (+49%), an average of +10% a year. The sharpest change came in the year to October 2022, when income rose by 184%. Over the whole period it spent 77% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Colorado Dragon Boat Festival sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 70th percentile within CO. Charities of a similar size with the same main cause include National Club Swimming Association ($582k), Lake Zurich Baseball & Softball Assoc Inc ($583k) and North Port Youth Soccer Inc ($582k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 34% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $127k (25% of expenses). At year end it held assets of $678k against liabilities of $38k, net assets of $640k. It reported 2 employees.