Racing for Mental Health Inc

Analysis

Racing for Mental Health Inc is a registered charity in United States, based in Joliet, IL. It received its IRS tax-exemption ruling in April 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Mental Health Inc reported income of $171k and spending of $171k, spending 100% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $87k to $171k (+98%), an average of +98% a year. The sharpest change came in the year to December 2023, when income rose by 98%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Racing for Mental Health Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 51st percentile within IL. Charities of a similar size with the same main cause include Aid for Humanity Inc ($171k), Dogsinvests ($171k) and Bible Optics Inc ($171k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $408 against liabilities of $0, net assets of $408.