NXG Youth Motorsports Inc

Analysis

NXG Youth Motorsports Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in October 2016, 10 years ago. 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 September 2023, NXG Youth Motorsports Inc reported income of $925k and spending of $573k, leaving 38% of income unspent that year. Across the 3 years on record, from September 2021 to September 2023, income grew from $651k to $925k (+42%), an average of +19% a year. The sharpest change came in the year to September 2023, when income rose by 39%. Over the whole period it spent 71% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, NXG Youth Motorsports Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within IN. Charities of a similar size with the same main cause include Rainbow Village Apts Inc ($925k), Your Neighborhood Connection LLC ($925k) and The George Chambers Resource Center Inc ($925k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 98% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $120k (21% of expenses). Other salaries and wages came to $117k. At year end it held assets of $717k against liabilities of $26k, net assets of $691k. It reported 4 employees.