Skihawks Racing Team a Not for Profit Corporation

Analysis

Skihawks Racing Team a Not for Profit Corporation is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in November 2022, 4 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending April 2024, Skihawks Racing Team a Not for Profit Corporation reported income of $53k and spending of $56k, spending 106% of what it took in. Across the 6 years on record, from April 2019 to April 2024, income fell from $122k to $53k (-57%), an average of -15% a year. The sharpest change came in the year to April 2023, when income rose by 107%. Over the whole period it spent 80% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Skihawks Racing Team a Not for Profit Corporation sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 15th percentile within WA. Charities of a similar size with the same main cause include Transformational Leadership Resources Inc ($53k), California Society of Pediatric Dentists Foundation ($53k) and Mt Eustis Ski Hill ($53k).

On its Form 990-EZ for the period ending April 2024, revenue came from contributions and grants 49% and program service revenue 21% of the total. At year end it held assets of $258k against liabilities of $306, net assets of $257k.