1000gm Inc

Analysis

1000gm Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in June 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, 1000gm Inc reported income of $975k and spending of $1.1m, spending 112% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $328k to $975k (+197%), an average of +197% a year. The sharpest change came in the year to December 2023, when income rose by 197%. Over the whole period it spent 109% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, 1000gm Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within CA. Charities of a similar size with the same main cause include Partners Fore Golf Inc ($975k), Death Valley Conservancy ($975k) and New York Elite FC Inc ($974k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $31k against liabilities of $150k, net assets of -$118k.