Lake Merritt Rowing Club Inc

Analysis

Lake Merritt Rowing Club Inc is a registered charity in United States, based in Oakland, CA. It received its IRS tax-exemption ruling in May 1963, 63 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 March 2024, Lake Merritt Rowing Club Inc reported income of $256k and spending of $215k, spending 84% of its income. Across the 6 years on record, from September 2019 to March 2024, income grew from $219k to $256k (+17%), an average of +3.2% a year. The sharpest change came in the year to March 2023, when income rose by 111%. Over the whole period it spent 89% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Lake Merritt Rowing Club Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 61st percentile within CA. Charities of a similar size with the same main cause include Clarence Swim Club Inc ($256k), Temecula Youth Basketball Leagues ($256k) and Community Swim Club Inc ($256k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 4.4% and program service revenue 94% of the total. Other salaries and wages came to $66k. At year end it held assets of $577k against liabilities of $28k, net assets of $549k. It reported 8 employees.