Texas Tar Heels Basketball Academy Inc

Analysis

Texas Tar Heels Basketball Academy Inc is a registered charity in United States, based in Lewisville, TX. It received its IRS tax-exemption ruling in January 2020, 6 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, Texas Tar Heels Basketball Academy Inc reported income of $395k and spending of $415k, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $264k to $395k (+49%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 37%. Over the whole period it spent 99% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Texas Tar Heels Basketball Academy Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 71st percentile within TX. Charities of a similar size with the same main cause include Mt Ascutney Outdoors Inc ($395k), Belgrade Baseball Inc ($395k) and St Louis Legacy Ice Foundation ($395k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $81k (20% of expenses). Other salaries and wages came to $5,338. At year end it held assets of $51k against liabilities of $34k, net assets of $17k. It reported 1 employees.