Racor Inc

Analysis

Racor Inc is a registered charity in United States, based in Eau Claire, WI. It received its IRS tax-exemption ruling in June 1985, 41 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, Racor Inc reported income of $179k and spending of $158k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $212k to $179k (-16%), an average of -4.3% a year. The sharpest change came in the year to December 2023, when income dropped by 17%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Racor Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 50th percentile within WI. Charities of a similar size with the same main cause include Northwest Association of Educational Opportunity Programs ($179k), Arizona Natural History Association Inc ($179k) and Georgia Youth Science & Technology Center Inc ($179k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 91% of the total. Compensation of current officers, directors and key employees was $7,740 (4.9% of expenses). Other salaries and wages came to $9,359. At year end it held assets of $1.0m against liabilities of $22k, net assets of $1.0m. It reported 5 employees.