Racing For Kids
- Assets
- $184.9k
- Revenue
- $249.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Harbor Springs, MI
- Founding
- 02/2000
- Data as of
- 12/2023
- EIN
- 38-3457448
Organization Overview
Racing For Kids is located in Harbor Springs, MI. The organization was established in 2000. According to its NTEE Classification (E86) the organization is classified as: Patient & Family Support, under the broad grouping of Health Care and related organizations. As of 12/2023, Racing For Kids employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Racing For Kids 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 For Kids generated $249.2k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $289.9k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (4.3%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Racing For Kids has awarded 36 individual grants totaling $725,122. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
USING MOTORSPORTS TO CALL ATTENTION TO HEALTH CARE NEEDS OF CHILDREN
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRECT CONTRIBUTIONS TO VARIOUS CHILDREN'S HOSPITALS AND RELATED CHARITABLE ORGANIZATIONS
EXPENSES ARE CONNECTED WITH PAYROLL,MARKETING AND PROMOTIONS, TRAVEL, AND OTHER RELATED PROGRAM SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William W Pinsky MD President | OfficerTrustee | 2 | $0 |
Robert P Buhl Vice President | OfficerTrustee | 10 | $0 |
J Patrick Wright Treas, Secy, Exec Dir | OfficerTrustee | 30 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $201,580 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $201,580 |
| Total Program Service Revenue | $0 |
| 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 | $47,594 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $249,174 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $55,065 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $68,569 |
| Other salaries and wages | $15,383 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,685 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,298 |
| Fees for services: Accounting | $9,398 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,922 |
| Advertising and promotion | $2,887 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $44,627 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,584 |
| All other expenses | $12,278 |
| Total functional expenses | $289,894 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $153,669 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,207 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,846 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,141 |
| Total assets | $184,863 |
| Accounts payable and accrued expenses | $23,706 |
| 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 | $0 |
| Total liabilities | $23,706 |
| Net assets without donor restrictions | $0 |
| 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 | $161,157 |
| Total liabilities and net assets/fund balances | $184,863 |
Grants Awarded
Over the last fiscal year, Racing For Kids has awarded $127,744 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ASCENSION ST JOHN PROVIDENCE FOUNDATIONS PURPOSE: GENERAL SUPPORT | $32,564 |
HENRY FORD HEALTH SYSTEMS PURPOSE: GENERAL SUPPORT | $30,000 |
TEEN STREET SKILLS PURPOSE: GENERAL SUPPORT | $30,000 |
DETROIT MERCY LAW SCHOOL - DANIEL WRIGHT MEMORIAL SCHOLARSHIP PURPOSE: GENERAL SUPPORT | $5,180 |
BEAUMONT FOUNDATION PURPOSE: GENERAL SUPPORT | $30,000 |