Greater Fairbanks Racing Assn

Analysis

Greater Fairbanks Racing Assn is a registered charity in United States, based in Fairbanks, AK. It received its IRS tax-exemption ruling in December 1984, 42 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a suspense under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Greater Fairbanks Racing Assn reported income of $65k and spending of $68k, spending 104% of its income. Across the 3 years on record, from December 2019 to December 2023, income grew from $44k to $65k (+50%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 72%. Over the whole period it spent 118% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Greater Fairbanks Racing Assn sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 21st percentile within AK. Charities of a similar size with the same main cause include Marina Soccer Association ($65k), Ascension Project ($65k) and Youth 1st Community Initiative ($65k).

On its Form 990-EZ for the period ending December 2023, revenue came from program service revenue 81% of the total. At year end it held assets of $198k against liabilities of $0, net assets of $198k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.