Downtown Racine Corp

Analysis

Downtown Racine Corp is a registered charity in United States, based in Racine, WI. It received its IRS tax-exemption ruling in June 1982, 44 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Downtown Racine Corp reported income of $222k and spending of $225k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $198k to $222k (+12%), an average of +3.0% a year. The sharpest change came in the year to December 2021, when income rose by 21%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Racine Corp sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 55th percentile within WI. Charities of a similar size with the same main cause include Northeast Pa Manufacturers and Employers Council Inc ($222k), Graces of Gurley Inc ($222k) and Womens League for Community Services ($222k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% of the total. Compensation of current officers, directors and key employees was $97k (43% of expenses). Other salaries and wages came to $53k. At year end it held assets of $153k against liabilities of $70k, net assets of $83k. It reported 12 employees.