Racing Industry Charitable Foundation Inc
- Assets
- $342.0k
- Revenue
- $773.8k
- Investments
- $0.0
- Employees
- 9
- Location
- Cicero, IL
- Founding
- 07/1983
- Data as of
- 12/2023
- EIN
- 36-3073230
Organization Overview
Racing Industry Charitable Foundation Inc is located in Cicero, IL. The organization was established in 1983. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Racing Industry Charitable Foundation Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Racing Industry Charitable Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Racing Industry Charitable Foundation Inc generated $773.8k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $740.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MEDICAL, DENTAL, MENTAL AND SOCIAL SERVICES TO HORSE CARE WORKERS AT ILLINOIS RACE TRACKS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MEDICAL, DENTAL, MENTAL AND SOCIAL SERVICES TO HORSE CARE WORKERS AT ILLINOIS RACE TRACKS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Miller President | OfficerTrustee | 3 | $0 |
Melissa Helton Vice President | OfficerTrustee | 0.2 | $0 |
Christina Vitone Secretary | OfficerTrustee | 0.2 | $0 |
John Walsh Treasurer | OfficerTrustee | 3 | $0 |
Tim Becker Director | Trustee | 0.2 | $0 |
Paul Coronado Executive Director | Officer | 40 | $90,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $750,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,778 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $769,778 |
| Total Program Service Revenue | $4,062 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $773,840 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $121,284 |
| Compensation of current officers, directors, key employees. | $14,296 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $288,133 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,240 |
| Payroll taxes | $37,441 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,315 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $141,163 |
| Advertising and promotion | $0 |
| Office expenses | $23,665 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,396 |
| Travel | $8,183 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,914 |
| Interest | $4,451 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,838 |
| Insurance | $16,058 |
| All other expenses | $0 |
| Total functional expenses | $740,362 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $761 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,022 |
| Net Land, buildings, and equipment | $75,121 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $243,086 |
| Other assets | $0 |
| Total assets | $341,990 |
| Accounts payable and accrued expenses | $21,042 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,560 |
| Total liabilities | $29,602 |
| Net assets without donor restrictions | $312,388 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $341,990 |