Reno Air Racings Association Inc

Analysis

Reno Air Racings Association Inc is a registered charity in United States, based in Reno, NV. It received its IRS tax-exemption ruling in June 1970, 56 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 December 2023, Reno Air Racings Association Inc reported income of $10.7m and spending of $6.6m, leaving 38% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.8m to $10.7m (+122%), an average of +22% a year. The sharpest change came in the year to December 2021, when income rose by 337%. Over the whole period it spent 85% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Reno Air Racings Association Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 97th percentile within NV. Charities of a similar size with the same main cause include Row New York Inc ($10.7m), Carolinas Football Club ($10.7m) and Lower Town Riverfront Conservancy ($10.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.3% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $168k (2.5% of expenses). Other salaries and wages came to $265k. At year end it held assets of $4.4m against liabilities of $657k, net assets of $3.8m. It reported 21 employees.