Atlantis Sports

Analysis

Atlantis Sports is a registered charity in United States, based in Arvada, CO. It received its IRS tax-exemption ruling in September 2022, 4 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, Atlantis Sports reported income of $512k and spending of $783k, spending 153% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $300k to $512k (+71%), an average of +31% a year. The sharpest change came in the year to December 2022, when income rose by 157%. Over the whole period it spent 70% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Atlantis Sports sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 68th percentile within CO. Charities of a similar size with the same main cause include Friends of the Washington Canoe Club ($512k), Penuel Inc ($512k) and Patriot Training Foundation ($512k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 7.1% of the total. Compensation of current officers, directors and key employees was $227k (29% of expenses). Other salaries and wages came to $119k. At year end it held assets of $426k against liabilities of $207, net assets of $426k. It reported 4 employees.