Speedway Childrens Charities

Analysis

Speedway Childrens Charities is a registered charity in United States, based in Concord, NC. It received its IRS tax-exemption ruling in July 1982, 44 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, Speedway Childrens Charities reported income of $5.5m and spending of $5.8m, spending 105% of its income. Across the 6 years on record, from September 2019 to December 2023, income grew from $4.3m to $5.5m (+27%), an average of +4.9% a year. The sharpest change came in the year to December 2020, when income rose by 249%. Over the whole period it spent 110% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Speedway Childrens Charities sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NC. Charities of a similar size with the same main cause include The Immokalee Foundation Inc ($5.5m), Endeavor Catalyst Inc ($5.5m) and Womens Foundation of Alabama ($5.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% of the total. Compensation of current officers, directors and key employees was $170k (2.9% of expenses). Other salaries and wages came to $519k. At year end it held assets of $1.2m against liabilities of $199k, net assets of $1.0m. It reported 10 employees.