Kyle Petty Charity Ride Inc

Analysis

Kyle Petty Charity Ride Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in March 2001, 25 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, Kyle Petty Charity Ride Inc reported income of $1.4m and spending of $1.4m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.4m (+13%), an average of +3.2% a year. The sharpest change came in the year to December 2022, when income rose by 205%. Over the whole period it spent 102% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Kyle Petty Charity Ride Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within NC. Charities of a similar size with the same main cause include Yumas Education Scholarship Fund for Kids Inc ($1.4m), NCF Carolinas Inc ($1.4m) and Emma Freeman Foundation Uwo H M Freeman ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% of the total. Compensation of current officers, directors and key employees was $106k (7.6% of expenses). Other salaries and wages came to $110k. At year end it held assets of $1.3m against liabilities of $233k, net assets of $1.0m. It reported 4 employees.