XXX Racing

Analysis

XXX Racing is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in August 2005, 21 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, XXX Racing reported income of $71k and spending of $83k, spending 118% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $76k to $71k (-7.4%), an average of -7.4% a year. Over the whole period it spent 103% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, XXX Racing sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 29th percentile within IL. Charities of a similar size with the same main cause include Montgomery County Senior Sports Association ($71k), Philadelphia Athletics Youth Sports Association ($71k) and Little League Baseball Inc ($71k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 22% and program service revenue 64% of the total. At year end it held assets of $71k against liabilities of $0, net assets of $71k.