Racing for Heroes Inc

Analysis

Racing for Heroes Inc is a registered charity in United States, based in Milton, NC. It received its IRS tax-exemption ruling in April 2015, 11 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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, Racing for Heroes Inc reported income of $313k and spending of $285k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $171k to $313k (+83%), an average of +16% a year. The sharpest change came in the year to December 2020, when income rose by 37%. Over the whole period it spent 126% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Racing for Heroes Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 61st percentile within NC. Charities of a similar size with the same main cause include Coalition of New York State Health Homes Inc ($313k), Shawnee County Medical Society Foundation Inc ($313k) and Bridge to Shore Recovery ($313k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $246k against liabilities of $436k, net assets of -$190k.