Downtown Racine Corp
EIN: 391402470 · Racine, WI · NTEE: S31Z
| Metric | Value |
|---|---|
| Total Revenue | $308K |
| Total Expenses | $225K |
| Net Assets | $83K |
Is Downtown Racine Corp Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Downtown Racine Corp
Downtown Racine Corp (EIN: 391402470) is a nonprofit organization based in Racine, WI, classified under NTEE code S31Z. The organization reported total revenue of $308K and total assets of $148K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Downtown Racine Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Downtown Racine Corp is a small nonprofit that has been operating for 44 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $222K |
| Total Expenses | $225K |
| Surplus / Deficit | $-2,694 |
| Total Assets | $153K |
| Total Liabilities | $70K |
| Net Assets | $83K |
| Operating Margin | -1.2% |
| Debt-to-Asset Ratio | 45.9% |
| Months of Reserves | 8.2 months |
Financial Health Grade: B
In 2023, Downtown Racine Corp reported a deficit of $3K with expenses exceeding revenue, holds 8.2 months of operating reserves (strong position), has a debt-to-asset ratio of 45.9% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Downtown Racine Corp's revenue has declined at a compound annual growth rate (CAGR) of -2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -4.3% | +8.9% | +4.4% |
| 2022 | +2.7% | +9.9% | -0.8% |
| 2021 | +21.1% | +4.5% | +77.5% |
| 2020 | -5.6% | -14.3% | +27.5% |
| 2019 | -6.7% | +10.3% | +5.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1982 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Downtown Racine Corp has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Downtown Racine Corp with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $3K, with expenses exceeding revenue.
- Debt-to-asset ratio: 45.9%.
Frequently Asked Questions about Downtown Racine Corp
Is Downtown Racine Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Downtown Racine Corp (EIN: 391402470) insufficient data. 0 red flags identified, 0 strengths noted.
How does Downtown Racine Corp spend its money?
Detailed spending breakdown data is not yet available for Downtown Racine Corp. Check back for updated IRS 990 analysis.
Are donations to Downtown Racine Corp tax-deductible?
Downtown Racine Corp is registered as a tax-exempt nonprofit (EIN: 391402470). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Downtown Racine Corp located?
Downtown Racine Corp is headquartered in Racine, Wisconsin and files with the IRS under EIN 391402470. It is classified under NTEE code S31Z.
How many years of IRS 990 filings does Downtown Racine Corp have?
Downtown Racine Corp has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $308K in total revenue.
Filing History
IRS 990 filing history for Downtown Racine Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Downtown Racine Corp's revenue has declined by 22.8%, moving from $288K to $222K. Total assets increased by 205.6% over the same period, from $50K to $153K. Total functional expenses fell by 29.3%, from $318K to $225K. In its most recent filing year (2023), Downtown Racine Corp reported a deficit of $3K, with expenses exceeding revenue. The organization holds $70K in liabilities against $153K in assets (debt-to-asset ratio: 45.9%), resulting in net assets of $83K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $222K | $225K | $153K | $70K | — | — |
| 2022 | $232K | $207K | $147K | $61K | — | — |
| 2021 | $226K | $188K | $148K | $87K | — | View 990 |
| 2020 | $187K | $180K | $83K | $61K | — | — |
| 2019 | $198K | $210K | $65K | $50K | — | View 990 |
| 2018 | $212K | $190K | $62K | $34K | — | View 990 |
| 2017 | $207K | $206K | $27K | $22K | — | View 990 |
| 2016 | $192K | $210K | $28K | $24K | — | View 990 |
| 2015 | $217K | $204K | $41K | $19K | — | View 990 |
| 2014 | $225K | $224K | $27K | $17K | — | View 990 |
| 2013 | $222K | $209K | $37K | $27K | — | View 990 |
| 2012 | $222K | $243K | $41K | $47K | — | View 990 |
| 2011 | $288K | $318K | $50K | $87K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $222K, expenses of $225K, and assets of $153K (revenue -4.3% year-over-year).
- 2022: Revenue of $232K, expenses of $207K, and assets of $147K (revenue +2.7% year-over-year).
- 2021: Revenue of $226K, expenses of $188K, and assets of $148K (revenue +21.1% year-over-year).
- 2020: Revenue of $187K, expenses of $180K, and assets of $83K (revenue -5.6% year-over-year).
- 2019: Revenue of $198K, expenses of $210K, and assets of $65K (revenue -6.7% year-over-year).
- 2018: Revenue of $212K, expenses of $190K, and assets of $62K (revenue +2.3% year-over-year).
- 2017: Revenue of $207K, expenses of $206K, and assets of $27K (revenue +8.2% year-over-year).
- 2016: Revenue of $192K, expenses of $210K, and assets of $28K (revenue -11.6% year-over-year).
- 2015: Revenue of $217K, expenses of $204K, and assets of $41K (revenue -3.7% year-over-year).
- 2014: Revenue of $225K, expenses of $224K, and assets of $27K (revenue +1.6% year-over-year).
- 2013: Revenue of $222K, expenses of $209K, and assets of $37K (revenue +0.0% year-over-year).
- 2012: Revenue of $222K, expenses of $243K, and assets of $41K (revenue -23.1% year-over-year).
- 2011: Revenue of $288K, expenses of $318K, and assets of $50K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Downtown Racine Corp:
Data Sources and Methodology
This transparency report for Downtown Racine Corp is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.