Chinook Performance Racing

Analysis

Chinook Performance Racing is a registered charity in United States, based in Melfa, VA. It received its IRS tax-exemption ruling in December 2014, 12 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Chinook Performance Racing reported income of $146k and spending of $150k, spending 102% of its income. Across the 3 years on record, from December 2019 to December 2023, income fell from $254k to $146k (-42%), an average of -24% a year. The sharpest change came in the year to December 2022, when income dropped by 55%. Over the whole period it spent 105% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Chinook Performance Racing sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 46th percentile within VA. Charities of a similar size with the same main cause include Bennington Baseball Club ($146k), Arizona Gymnastics Foundation Inc ($146k) and Bethesda Center of Excellence Inc ($146k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 86% of the total. At year end it held assets of $92k against liabilities of $20k, net assets of $72k.

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.