Team Faith Racing Ministry

Analysis

Team Faith Racing Ministry is a registered charity in United States, based in Mount Juliet, TN. It received its IRS tax-exemption ruling in February 1998, 28 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, Team Faith Racing Ministry reported income of $370k and spending of $339k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $356k to $370k (+4.0%), an average of +1.0% a year. The sharpest change came in the year to December 2021, when income rose by 40%. Over the whole period it spent 97% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Team Faith Racing Ministry sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 67th percentile within TN. Charities of a similar size with the same main cause include N4 Inc ($370k), A Commitment to Our Roots Inc ($370k) and Willow Christian Academy ($370k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $547 (0.2% of expenses). Other salaries and wages came to $58k. At year end it held assets of $54k against liabilities of $0, net assets of $54k. It reported 1 employees.