Avout Racing Inc

Analysis

Avout Racing Inc is a registered charity in United States, based in Littleton, CO. It received its IRS tax-exemption ruling in May 2020, 6 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Avout Racing Inc reported income of $176k and spending of $227k, spending 129% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $222k to $176k (-21%), an average of -11% a year. The sharpest change came in the year to December 2023, when income dropped by 34%. Over the whole period it spent 84% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Avout Racing Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 47th percentile within CO. Charities of a similar size with the same main cause include Greater Cleveland Football Foundation ($176k), Pacesetters Baseball Inc ($176k) and San Pedro Girls Softball Association Inc ($176k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 7.9% and program service revenue 92% of the total. At year end it held assets of $178k against liabilities of $6,411, net assets of $171k.