Kyle Petty Charity Ride Trust Inc

Analysis

Kyle Petty Charity Ride Trust Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in March 2015, 11 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, Kyle Petty Charity Ride Trust Inc reported income of $421k and spending of $29k, leaving 93% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.6m to $421k (-84%), an average of -37% a year. The sharpest change came in the year to December 2021, when income rose by 148%. Over the whole period it spent 5.7% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Kyle Petty Charity Ride Trust Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 66th percentile within NC. Charities of a similar size with the same main cause include Orchard Park Soccer Club Inc ($420k), Pfxa Inc ($421k) and USA Club Rugby Association ($420k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% of the total. At year end it held assets of $6.3m against liabilities of $0, net assets of $6.3m.