Far Hills Race Meeting Association Inc

Analysis

Far Hills Race Meeting Association Inc is a registered charity in United States, based in Far Hills, NJ. It received its IRS tax-exemption ruling in June 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 December 2023, Far Hills Race Meeting Association Inc reported income of $3.4m and spending of $3.7m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.3m to $3.4m (+4.2%), an average of +1.0% a year. The sharpest change came in the year to December 2021, when income rose by 873%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Far Hills Race Meeting Association Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within NJ. Charities of a similar size with the same main cause include Brooklyn Center for Families in Crisis Inc ($3.4m), Habitat for Humanity of ($3.4m) and Black Spectrum Theatre Co Inc Roy Wilkins Park ($3.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 97% of the total. At year end it held assets of $7.3m against liabilities of $20k, net assets of $7.3m. It reported 3 employees.