Kentucky Racing Health and Welfare Fund Inc

Analysis

Kentucky Racing Health and Welfare Fund Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in March 1980, 46 years ago. 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, Kentucky Racing Health and Welfare Fund Inc reported income of $1.2m and spending of $1.9m, spending 163% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $238k to $1.2m (+394%), an average of +49% a year. The sharpest change came in the year to December 2020, when income rose by 756%. Over the whole period it spent 130% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Kentucky Racing Health and Welfare Fund Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within KY. Charities of a similar size with the same main cause include Adopt a Family of Marin ($1.2m), Yankton Transit Inc ($1.2m) and Senior Services of Alexandria Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 128% of the total. Compensation of current officers, directors and key employees was $162k (8.4% of expenses). Other salaries and wages came to $209k. At year end it held assets of $8.7m against liabilities of $0, net assets of $8.7m. It reported 7 employees.