Racing Industry Charitable Foundation Inc

Analysis

Racing Industry Charitable Foundation Inc is a registered charity in United States, based in Cicero, IL. It received its IRS tax-exemption ruling in July 1983, 43 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, Racing Industry Charitable Foundation Inc reported income of $774k and spending of $740k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $869k to $774k (-11%), an average of -2.9% a year. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Racing Industry Charitable Foundation Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within IL. Charities of a similar size with the same main cause include Long Bay Symphonic Society Ltd ($774k), Portland Gay Mens Chorus Inc ($774k) and Celebration Lutheran School Inc ($774k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $121k (16% of expenses). Other salaries and wages came to $288k. At year end it held assets of $342k against liabilities of $30k, net assets of $312k. It reported 9 employees.