P7 Sports Academy Foundation

Analysis

P7 Sports Academy Foundation is a registered charity in United States, based in Cordova, TN. 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, P7 Sports Academy Foundation reported income of $112k and spending of $60k, leaving 46% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $2,350 to $112k (+4650%), an average of +4650% a year. The sharpest change came in the year to December 2023, when income rose by 4650%. Over the whole period it spent 53% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, P7 Sports Academy Foundation sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 40th percentile within TN. Charities of a similar size with the same main cause include Springwood Swim Team ($112k), Kerosene Lamp Foundation ($112k) and West Coast Equine Foundation ($112k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $54k against liabilities of $0, net assets of $54k.