Laguna Seca Raceway Fund

Analysis

Laguna Seca Raceway Fund is a registered charity in United States, based in Monterey, CA. It received its IRS tax-exemption ruling in April 2003, 23 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, Laguna Seca Raceway Fund reported income of $88k and spending of $34k, leaving 62% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $313k to $88k (-72%), an average of -72% a year. The sharpest change came in the year to December 2023, when income dropped by 72%. Over the whole period it spent 12% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Laguna Seca Raceway Fund sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 36th percentile within CA. Charities of a similar size with the same main cause include Framingham Youth Basketball Inc ($88k), Immokalee Soccer Pit Cobras Inc ($88k) and Vermont Mountain Bike Advocate Inc ($88k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 141% of the total. At year end it held assets of $500k against liabilities of $0, net assets of $500k.