Hawkeye Downs Inc

Analysis

Hawkeye Downs Inc is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in January 1978, 48 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, Hawkeye Downs Inc reported income of $869k and spending of $886k, spending 102% of its income. Across the 6 years on record, from September 2019 to December 2023, income grew from $505k to $869k (+72%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 801%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hawkeye Downs Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within IA. Charities of a similar size with the same main cause include Hoban Trust Fund Inc ($869k), Cristo Rey de LA Salle East Bay Work Program ($869k) and Ririe-Woodbury Dance Foundation ($868k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.9% and program service revenue 71% of the total. Other salaries and wages came to $187k. At year end it held assets of $277k against liabilities of $65k, net assets of $213k. It reported 60 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.