Foxfield Racing LLC

Analysis

Foxfield Racing LLC is a registered charity in United States, based in Crozet, VA. It received its IRS tax-exemption ruling in January 2018, 8 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 2022, Foxfield Racing LLC reported income of $1.8m and spending of $1.4m, spending 82% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $60k to $1.8m (+2820%), an average of +208% a year. The sharpest change came in the year to December 2020, when income rose by 998%. Over the whole period it spent 71% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Foxfield Racing LLC sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within VA. Charities of a similar size with the same main cause include Silicon Valley Social Venture Fund ($1.8m), American Friends of the Parents Circle Families Forum ($1.8m) and Jewish Federation of Northeastern Pennsylania ($1.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 34% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $87k (6.1% of expenses). Other salaries and wages came to $95k. At year end it held assets of $988k against liabilities of $0, net assets of $988k. It reported 4 employees.