Kobuk 440 Racing Association Inc

Analysis

Kobuk 440 Racing Association Inc is a registered charity in United States, based in Kotzebue, AK. It received its IRS tax-exemption ruling in February 2014, 12 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Kobuk 440 Racing Association Inc reported income of $94k and spending of $121k, spending 129% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $108k to $94k (-13%), an average of -13% a year. Over the whole period it spent 125% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Kobuk 440 Racing Association Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 31st percentile within AK. Charities of a similar size with the same main cause include Lyrica Baroque ($94k), Cyrus E Dallin Art Museum Inc ($94k) and Thompson Falls Film & Theater Foundation ($94k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 7.9% of the total. At year end it held assets of $31k against liabilities of $295, net assets of $31k.