Teams Elite Synchronized Skating Club

Analysis

Teams Elite Synchronized Skating Club is a registered charity in United States, based in Wauconda, IL. It received its IRS tax-exemption ruling in July 2021, 5 years ago. 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 March 2023, Teams Elite Synchronized Skating Club reported income of $1.6m and spending of $1.7m, spending 105% of its income. Across the 3 years on record, from March 2021 to March 2023, income grew from $27k to $1.6m (+5792%), an average of +668% a year. The sharpest change came in the year to March 2022, when income rose by 5305%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Teams Elite Synchronized Skating Club sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within IL. Charities of a similar size with the same main cause include Industrial Areas Foundation ($1.6m), All Hallows Community ($1.6m) and Habitat for Humanity International Inc ($1.6m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 100% and program service revenue 0.4% of the total. At year end it held assets of $158k against liabilities of $23k, net assets of $135k. It reported 1 employees.