Racine Community Foundation Inc

Analysis

Racine Community Foundation Inc is a registered charity in United States, based in Racine, WI. It received its IRS tax-exemption ruling in May 1976, 50 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Racine Community Foundation Inc reported income of $4.5m and spending of $4.5m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.8m to $4.5m (+20%), an average of +4.6% a year. The sharpest change came in the year to December 2020, when income rose by 87%. Over the whole period it spent 59% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Racine Community Foundation Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within WI. Charities of a similar size with the same main cause include Jewish Federation of San Antonio ($4.5m), The American University of Greece Foundation ($4.5m) and Eastern Carolina Communityfoundation Inc ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $165k (3.7% of expenses). Other salaries and wages came to $134k. At year end it held assets of $78.8m against liabilities of $7.5m, net assets of $71.3m. It reported 3 employees.