Hydra Aquatics Inc

Analysis

Hydra Aquatics Inc is a registered charity in United States, based in Gahanna, OH. It received its IRS tax-exemption ruling in October 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hydra Aquatics Inc reported income of $579k and spending of $581k, spending 100% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $194k to $579k (+198%), an average of +44% a year. The sharpest change came in the year to December 2021, when income rose by 136%. Over the whole period it spent 83% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Hydra Aquatics Inc 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 73rd percentile within OH. Charities of a similar size with the same main cause include Walnut Creek Masters Swimming Association ($579k), Keweenaw Trails Services Inc ($579k) and Friends of Hoop Seattle ($578k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.6% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $13k (2.2% of expenses). Other salaries and wages came to $245k. At year end it held assets of $447k against liabilities of $152k, net assets of $296k. It reported 65 employees.