Indianapolis Motor Speedway Foundation Inc

Analysis

Indianapolis Motor Speedway Foundation Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in October 1959, 67 years ago. 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, Indianapolis Motor Speedway Foundation Inc reported income of $42.6m and spending of $6.6m, leaving 85% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.2m to $42.6m (+720%), an average of +69% a year. The sharpest change came in the year to December 2022, when income rose by 184%. Over the whole period it spent 32% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Indianapolis Motor Speedway Foundation Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within IN. Charities of a similar size with the same main cause include Tiegerman School ($42.6m), J N Pew Jr Charitable Trust ($42.6m) and The Corning Museum of Glass ($42.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 7.1% of the total. Compensation of current officers, directors and key employees was $684k (10% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $65.1m against liabilities of $1.4m, net assets of $63.7m. It reported 129 employees.