National Museum of Racing Inc

Analysis

National Museum of Racing Inc is a registered charity in United States, based in Saratoga SPGS, NY. It received its IRS tax-exemption ruling in April 1952, 74 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, National Museum of Racing Inc reported income of $4.6m and spending of $4.0m, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.9m to $4.6m (-6.7%), an average of -1.7% a year. The sharpest change came in the year to December 2022, when income rose by 61%. Over the whole period it spent 69% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, National Museum of Racing Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Hoff Barthelson Music School ($4.6m), Theatre for Children Inc ($4.6m) and Florida Public Broadcasting Service Inc ($4.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 3.8% of the total. Compensation of current officers, directors and key employees was $126k (3.2% of expenses). Other salaries and wages came to $728k. At year end it held assets of $31.3m against liabilities of $103k, net assets of $31.2m. It reported 39 employees.