Gymnastics Olympica USA Inc

Analysis

Gymnastics Olympica USA Inc is a registered charity in United States, based in Santa Clarita, CA. It received its IRS tax-exemption ruling in February 1980, 46 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 June 2023, Gymnastics Olympica USA Inc reported income of $1.8m and spending of $1.8m, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.3m to $1.8m (+33%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 118%. Over the whole period it spent 125% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Gymnastics Olympica USA Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within CA. Charities of a similar size with the same main cause include Kauai Economic Development Board Inc ($1.8m), Columbus Marathon ($1.8m) and Crisis Center ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.5% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $375k (21% of expenses). Other salaries and wages came to $633k. At year end it held assets of $1.9m against liabilities of $2.1m, net assets of -$213k. It reported 43 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.