Motorsports Charities Inc

Analysis

Motorsports Charities Inc is a registered charity in United States, based in Daytona Beach, FL. It received its IRS tax-exemption ruling in October 2005, 21 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Motorsports Charities Inc reported income of $5.0m and spending of $4.2m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.2m to $5.0m (+53%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 51%. Over the whole period it spent 80% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Motorsports Charities Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Community Health Access Network ($5.0m), Jewish Federation of Ocean County ($5.0m) and Pat Tillman Foundation ($4.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $226k (5.4% of expenses). Other salaries and wages came to $455k. At year end it held assets of $7.1m against liabilities of $368k, net assets of $6.7m. It reported 9 employees.