Racing Magpie

Analysis

Racing Magpie is a registered charity in United States, based in Rapid City, SD. It received its IRS tax-exemption ruling in June 2019, 7 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Racing Magpie reported income of $225k and spending of $309k, spending 138% of what it took in. Across the 2 years on record, from December 2021 to December 2022, income fell from $316k to $225k (-29%), an average of -29% a year. The sharpest change came in the year to December 2022, when income dropped by 29%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Racing Magpie sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 54th percentile within SD. Charities of a similar size with the same main cause include Catamaran Literary Reader ($225k), Off the Hook Arts ($225k) and Historic Stanley Home Foundation ($225k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 82% and program service revenue 6.9% of the total. Other salaries and wages came to $125k. At year end it held assets of $1.8m against liabilities of $1.7m, net assets of $108k. It reported 3 employees.