Racers for Tots Inc

Analysis

Racers for Tots Inc is a registered charity in United States, based in Carnegie, PA. It received its IRS tax-exemption ruling in July 2016, 10 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Racers for Tots Inc reported income of $108k and spending of $102k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $69k to $108k (+56%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 308%. Over the whole period it spent 94% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Racers for Tots Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 37th percentile within PA. Charities of a similar size with the same main cause include The D Truitt and Lorna Davis Foundation ($108k), Holy Trinity Greek Orthodox Foundation of Charlotte NC ($108k) and Artists Charitable Fund ($108k).

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 $43k against liabilities of $0, net assets of $43k.