Swim with Mike Foundation

Analysis

Swim with Mike Foundation is a registered charity in United States, based in Pasadena, CA. It received its IRS tax-exemption ruling in March 2021, 5 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Swim with Mike Foundation reported income of $1.5m and spending of $1.1m, leaving 30% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income fell from $6.3m to $1.5m (-76%), an average of -38% a year. The sharpest change came in the year to December 2022, when income dropped by 59%. Over the whole period it spent 23% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Swim with Mike Foundation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within CA. Charities of a similar size with the same main cause include Baltimore Educational Scholarship Trust Inc ($1.5m), North Platte Catholic Shools Endowment-Trust Inc ($1.5m) and Montessori in Motion ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% of the total. Compensation of current officers, directors and key employees was $75k (7.0% of expenses). At year end it held assets of $9.1m against liabilities of $20k, net assets of $9.1m. It reported 3 employees.