Velocity Swimming

Analysis

Velocity Swimming is a registered charity in United States, based in Wenatchee, WA. It received its IRS tax-exemption ruling in June 1975, 51 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Velocity Swimming reported income of $294k and spending of $277k, spending 94% of its income. Across the 4 years on record, from August 2019 to August 2023, income grew from $240k to $294k (+22%), an average of +7.0% a year. The sharpest change came in the year to August 2023, when income rose by 31%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Velocity Swimming sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 59th percentile within WA. Charities of a similar size with the same main cause include Carbon Business Development Council Inc ($294k), Advocate ($294k) and United Way of Greater Hartsville ($294k).

On its Form 990 for the period ending August 2023, revenue came from program service revenue 91% of the total. Other salaries and wages came to $118k. It paid $205 in professional fundraising fees. At year end it held assets of $245k against liabilities of $6,156, net assets of $239k. It reported 15 employees.