Motor Racing Outreach

Analysis

Motor Racing Outreach is a registered charity in United States, based in Concord, NC. It received its IRS tax-exemption ruling in July 1997, 29 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Motor Racing Outreach reported income of $1.9m and spending of $2.0m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.9m (+31%), an average of +7.0% a year. The sharpest change came in the year to December 2022, when income rose by 25%. Over the whole period it spent 98% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Motor Racing Outreach sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within NC. Charities of a similar size with the same main cause include Gather Inc ($1.9m), Society of St Vincent de Paul Foundation ($1.9m) and The Center of Hope of South County Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $102k (5.2% of expenses). Other salaries and wages came to $749k. At year end it held assets of $771k against liabilities of $397k, net assets of $374k. It reported 10 employees.