Racing for ALS Inc

Analysis

Racing for ALS Inc is a registered charity in United States, based in Apex, NC. It received its IRS tax-exemption ruling in December 2021, 5 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. 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, Racing for ALS Inc reported income of $877k and spending of $920k, spending 105% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $324k to $877k (+171%), an average of +39% a year. The sharpest change came in the year to December 2022, when income dropped by 100%. Over the whole period it spent 92% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Racing for ALS Inc sits at the 63rd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within NC. Charities of a similar size with the same main cause include Old Irving Park Community Clinic ($876k), Good Samaritan Rehabilitation Inc ($877k) and Hope Crisis Center ($876k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $210k against liabilities of $76k, net assets of $134k.