Lake Oswego Swim Club

Analysis

Lake Oswego Swim Club is a registered charity in United States, based in Lake Oswego, OR. It received its IRS tax-exemption ruling in April 1986, 40 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 December 2023, Lake Oswego Swim Club reported income of $926k and spending of $905k, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $650k to $926k (+42%), an average of +9.3% a year. The sharpest change came in the year to December 2021, when income rose by 70%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake Oswego Swim Club sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within OR. Charities of a similar size with the same main cause include Springfield Business Development Corporation ($926k), Oklahoma Childrens Theatre Inc ($926k) and Richmond Rescue Incorporated ($926k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $139k (15% of expenses). Other salaries and wages came to $289k. At year end it held assets of $334k against liabilities of -$20k, net assets of $354k. It reported 19 employees.