Racing for Kids

Analysis

Racing for Kids is a registered charity in United States, based in Harbor SPGS, MI. It received its IRS tax-exemption ruling in February 2000, 26 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Racing for Kids reported income of $249k and spending of $290k, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $455k to $249k (-45%), an average of -14% a year. The sharpest change came in the year to December 2021, when income rose by 80%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Racing for Kids sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 58th percentile within MI. Charities of a similar size with the same main cause include Terri Schiavo Life & Hope Network Inc ($249k), Pregnancy Hope Center ($249k) and Putnam First Cancer Fund Inc ($249k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% of the total. Other salaries and wages came to $15k. At year end it held assets of $185k against liabilities of $24k, net assets of $161k. It reported 2 employees.