Lake Eldora Racing Team Association

Analysis

Lake Eldora Racing Team Association is a registered charity in United States, based in Boulder, CO. It received its IRS tax-exemption ruling in December 1975, 51 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 July 2023, Lake Eldora Racing Team Association reported income of $1.2m and spending of $1.3m, spending 114% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $1.1m to $1.2m (+4.3%), an average of +1.1% a year. The sharpest change came in the year to July 2021, when income rose by 45%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake Eldora Racing Team Association sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within CO. Charities of a similar size with the same main cause include JK Movement ($1.2m), Aqord ($1.2m) and Dha Housing Corp ($1.2m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 6.6% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $118k (8.9% of expenses). Other salaries and wages came to $766k. At year end it held assets of $603k against liabilities of $877, net assets of $602k. It reported 109 employees.