Snipe Class International Racing Association

Analysis

Snipe Class International Racing Association is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in December 1980, 46 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, Snipe Class International Racing Association reported income of $95k and spending of $89k, spending 94% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $127k to $95k (-25%), an average of -25% a year. The sharpest change came in the year to December 2023, when income dropped by 25%. Over the whole period it spent 77% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Snipe Class International Racing Association sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 38th percentile within CA. Charities of a similar size with the same main cause include Viking Boosters Club Inc ($95k), Half-Shire Historical Society ($95k) and South Carolina Association for the Education of Young Children ($95k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 71% of the total. At year end it held assets of $228k against liabilities of $485, net assets of $227k.