Rapid 5 Project

Analysis

Rapid 5 Project is a registered charity in United States, based in Columbus, OH. It received its IRS tax-exemption ruling in July 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Rapid 5 Project reported income of $1.2m and spending of $1.4m, spending 118% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income grew from $1.1m to $1.2m (+8.2%), an average of +8.2% a year. 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, Rapid 5 Project sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within OH. Charities of a similar size with the same main cause include Wasatch Kids Camps ($1.2m), Blitz United Soccer Club-Tulsa in ($1.2m) and Shelby High School Athletic Booster Club ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $221k (15% of expenses). Other salaries and wages came to $395k. At year end it held assets of $716k against liabilities of $21k, net assets of $695k. It reported 3 employees.