Sports Biz Cares Ltd

Analysis

Sports Biz Cares Ltd is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in September 2019, 7 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Sports Biz Cares Ltd reported income of $471k and spending of $507k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $33k to $471k (+1330%), an average of +94% a year. The sharpest change came in the year to December 2020, when income rose by 523%. Over the whole period it spent 103% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Sports Biz Cares Ltd sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within NC. Charities of a similar size with the same main cause include Uptown Whittier Improvement Association ($471k), Lawrence County Economic Growth Council Inc ($471k) and Downtown Ontario Improvement Association ($471k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. Other salaries and wages came to $149k. At year end it held assets of $111k against liabilities of $163k, net assets of -$51k. It reported 16 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.