Living Legends of Auto Racing Inc

Analysis

Living Legends of Auto Racing Inc is a registered charity in United States, based in Port Orange, FL. It received its IRS tax-exemption ruling in December 2001, 25 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 (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, Living Legends of Auto Racing Inc reported income of $58k and spending of $54k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $90k to $58k (-36%), an average of -11% a year. The sharpest change came in the year to December 2020, when income dropped by 43%. Over the whole period it spent 114% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Living Legends of Auto Racing Inc sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 26th percentile within FL. Charities of a similar size with the same main cause include Ripon Community Swim Team Inc ($58k), Miss Rodeo Iowa Corporation ($58k) and Soroco Baseball Softball ($58k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $57k against liabilities of $0, net assets of $57k.