Retired Racehorse Project Ltd

Analysis

Retired Racehorse Project Ltd is a registered charity in United States, based in Edgewater, MD. It received its IRS tax-exemption ruling in April 2011, 15 years ago. Its declared purposes cover animal-related, which this site groups under animals. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Retired Racehorse Project Ltd reported income of $1.0m and spending of $1.1m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $1.0m (-7.0%), an average of -1.8% a year. The sharpest change came in the year to December 2021, when income rose by 40%. Over the whole period it spent 104% of the income it received.

Among 14,470 United States charities whose main cause is animals and that reported income, Retired Racehorse Project Ltd 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 80th percentile, and in the 79th percentile within MD. Charities of a similar size with the same main cause include Animal Spay and Neuter a Non-Profit Clinic ($1.0m), Havanese Rescue Inc ($1.0m) and It Takes a Village Animal Rescue & Resources ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 8.4% of the total. Compensation of current officers, directors and key employees was $82k (7.7% of expenses). Other salaries and wages came to $260k. At year end it held assets of $370k against liabilities of $321k, net assets of $48k. It reported 9 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.