Shark Wave Aquatic Team Inc

Analysis

Shark Wave Aquatic Team Inc is a registered charity in United States, based in Jonesboro, AR. It received its IRS tax-exemption ruling in February 2023, 3 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 August 2023, Shark Wave Aquatic Team Inc reported income of $107k and spending of $100k, spending 94% of its income. Across the 2 years on record, from August 2022 to August 2023, income grew from $53k to $107k (+102%), an average of +102% a year. The sharpest change came in the year to August 2023, when income rose by 102%. Over the whole period it spent 80% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Shark Wave Aquatic Team Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 37th percentile within AR. Charities of a similar size with the same main cause include Kimberly Park Tennis Association ($107k), Idaho BMX Inc ($107k) and Abington Area Girls Softball League Inc ($107k).

On its Form 990-EZ for the period ending August 2023, revenue came from contributions and grants 17% and program service revenue 3.7% of the total. At year end it held assets of $33k against liabilities of $1,425, net assets of $32k.