Irvine Novaquatics

Analysis

Irvine Novaquatics is a registered charity in United States, based in Irvine, CA. It received its IRS tax-exemption ruling in February 1978, 48 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, Irvine Novaquatics reported income of $4.4m and spending of $4.4m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.2m to $4.4m (+37%), an average of +8.2% a year. The sharpest change came in the year to December 2021, when income dropped by 100%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Irvine Novaquatics sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include Massachusetts Higher Education ($4.4m), China Outreach Ministries Inc ($4.4m) and Burleigh County Council on Aging ($4.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.9% and program service revenue 98% of the total. Other salaries and wages came to $2.5m. At year end it held assets of $2.1m against liabilities of $107k, net assets of $2.0m. It reported 62 employees.