Vegas Elite Basketball Club

Analysis

Vegas Elite Basketball Club is a registered charity in United States, based in Las Vegas, NV. It received its IRS tax-exemption ruling in February 2013, 13 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, Vegas Elite Basketball Club reported income of $898k and spending of $950k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $505k to $898k (+78%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 65%. Over the whole period it spent 97% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Vegas Elite Basketball Club sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within NV. Charities of a similar size with the same main cause include Turnin2 Sports Inc ($897k), Hartford County 4-H Camp Inc ($899k) and Perry Hall Recreation and Parks Council ($895k).

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 $50k (5.3% of expenses). At year end it held assets of $158k against liabilities of $28k, net assets of $130k.