Seattle Synchronized Swim Team

Analysis

Seattle Synchronized Swim Team is a registered charity in United States, based in Kirkland, WA. It received its IRS tax-exemption ruling in April 1976, 50 years ago. 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, Seattle Synchronized Swim Team reported income of $89k and spending of $94k, spending 106% of what it took in. Across the 2 years on record, from August 2022 to August 2023, income fell from $110k to $89k (-19%), an average of -19% a year. The sharpest change came in the year to August 2023, when income dropped by 19%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Seattle Synchronized Swim Team sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 29th percentile within WA. Charities of a similar size with the same main cause include Mt Vernon Youth Baseball Inc ($89k), Bright Bridge Foundation ($89k) and Michigan STS Inc ($89k).

On its Form 990-EZ for the period ending August 2023, revenue came from contributions and grants 42% and program service revenue 51% of the total. At year end it held assets of $20k against liabilities of $0, net assets of $20k.