Friends of Team Armenia Basketball

Analysis

Friends of Team Armenia Basketball is a registered charity in United States, based in Glendale, CA. It received its IRS tax-exemption ruling in November 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, Friends of Team Armenia Basketball reported income of $396k and spending of $193k, leaving 51% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $55k to $396k (+619%), an average of +619% a year. The sharpest change came in the year to December 2023, when income rose by 619%. Over the whole period it spent 49% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Friends of Team Armenia Basketball sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 68th percentile within CA. Charities of a similar size with the same main cause include Northern Virginia Sports Association Inc ($395k), Boilermaker Aquatics Inc ($396k) and Belgrade Baseball Inc ($395k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 51% of the total. At year end it held assets of $230k against liabilities of $0, net assets of $230k.