Rootstock Racing

Analysis

Rootstock Racing is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in April 2016, 10 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, Rootstock Racing reported income of $122k and spending of $174k, spending 143% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $144k to $122k (-15%), an average of -15% a year. The sharpest change came in the year to December 2023, when income dropped by 15%. Over the whole period it spent 104% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Rootstock Racing sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 40th percentile within PA. Charities of a similar size with the same main cause include Reading Berks Junior Soccer League ($122k), Tuf All-Stars Inc ($122k) and Anguilla Tennis and Education Foundation Inc ($122k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 13% of the total. At year end it held assets of $60k against liabilities of $0, net assets of $60k.