Class Aquatics Inc

Analysis

Class Aquatics Inc is a registered charity in United States, based in Thousand Oaks, CA. It received its IRS tax-exemption ruling in March 1987, 39 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 September 2023, Class Aquatics Inc reported income of $293k and spending of $300k, spending 102% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $284k to $293k (+2.9%), an average of +0.7% a year. The sharpest change came in the year to September 2022, when income rose by 45%. Over the whole period it spent 116% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Class Aquatics Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 63rd percentile within CA. Charities of a similar size with the same main cause include Wonky Hearts Animal Haven Inc ($293k), Women for Sobriety Inc ($293k) and Aware Inc ($293k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $44k (15% of expenses). Other salaries and wages came to $106k. At year end it held assets of $7,692 against liabilities of $151k, net assets of -$143k. It reported 7 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.