Air Race Classic Inc

Analysis

Air Race Classic Inc is a registered charity in United States, based in Fort Collins, CO. It received its IRS tax-exemption ruling in July 2002, 24 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 September 2023, Air Race Classic Inc reported income of $131k and spending of $125k, spending 95% of its income. Across the 2 years on record, from September 2022 to September 2023, income grew from $119k to $131k (+11%), an average of +11% a year. Over the whole period it spent 90% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Air Race Classic Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 40th percentile within CO. Charities of a similar size with the same main cause include Legends Basketball Inc ($131k), Nazca Sport Club Inc ($131k) and Trailblazers Booster Club ($131k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 35% and program service revenue 59% of the total. At year end it held assets of $271k against liabilities of $7,958, net assets of $264k.