Snipe Class International Racing Association USA

Analysis

Snipe Class International Racing Association USA is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in June 2006, 20 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Snipe Class International Racing Association USA reported income of $52k and spending of $55k, spending 105% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $65k to $52k (-20%), an average of -20% a year. The sharpest change came in the year to December 2023, when income dropped by 20%. Over the whole period it spent 94% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Snipe Class International Racing Association USA sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 22nd percentile within CA. Charities of a similar size with the same main cause include Mansfield Invitational Inc ($52k), Coast Conference Athletic Association ($52k) and Las Lomas Football Foundation ($52k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 35% of the total. At year end it held assets of $332k against liabilities of $8,543, net assets of $323k.