Racing For Heroes Inc
EIN: 464449419 · Milton, NC · NTEE: F30
| Metric | Value |
|---|---|
| Total Revenue | $218K |
| Total Expenses | $285K |
| Net Assets | $-189,584 |
Is Racing For Heroes Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Racing For Heroes Inc
Racing For Heroes Inc (EIN: 464449419) is a nonprofit organization based in Milton, NC, classified under NTEE code F30. The organization reported total revenue of $218K and total assets of $216K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Racing For Heroes Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Racing For Heroes Inc is a small nonprofit that has been operating for 11 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 3.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $313K |
| Total Expenses | $285K |
| Surplus / Deficit | +$28K |
| Total Assets | $246K |
| Total Liabilities | $436K |
| Net Assets | $-189,584 |
| Operating Margin | 9.0% |
| Debt-to-Asset Ratio | 176.9% |
| Months of Reserves | 10.4 months |
Financial Health Grade: A
In 2023, Racing For Heroes Inc reported a surplus of $28K with revenue exceeding expenses, holds 10.4 months of operating reserves (strong position), has a debt-to-asset ratio of 176.9% (high leverage).
Financial Trends
Over 10 years of filings (2014–2023), Racing For Heroes Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -23.2% | -42.4% | +13.7% |
| 2022 | +31.1% | +0.8% | -26.1% |
| 2021 | +32.8% | +51.5% | +75.5% |
| 2020 | +36.6% | +45.0% | +90.9% |
| 2019 | -81.3% | -74.6% | -45.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2015 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Racing For Heroes Inc 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 Racing For Heroes Inc 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 surplus of $28K, with revenue exceeding expenses.
- Debt-to-asset ratio: 176.9%.
Frequently Asked Questions about Racing For Heroes Inc
Is Racing For Heroes Inc a legitimate charity?
Racing For Heroes Inc (EIN: 464449419) is a registered tax-exempt nonprofit based in North Carolina. It has 10 years of IRS 990 filings on record. Total revenue: $218K. No red flags identified. Financial health grade: A.
How does Racing For Heroes Inc spend its money?
Racing For Heroes Inc reported $218K in total revenue in IRS 990 filings. 10 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Racing For Heroes Inc tax-deductible?
Racing For Heroes Inc is registered as a tax-exempt nonprofit (EIN: 464449419). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Racing For Heroes Inc located?
Racing For Heroes Inc is headquartered in Milton, North Carolina and files with the IRS under EIN 464449419. It is classified under NTEE code F30.
How many years of IRS 990 filings does Racing For Heroes Inc have?
Racing For Heroes Inc has 10 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 $218K in total revenue.
Filing History
IRS 990 filing history for Racing For Heroes Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Racing For Heroes Inc's revenue has grown by 37.5%, moving from $228K to $313K. Total assets increased by 1368877.8% over the same period, from $18 to $246K. Total functional expenses rose by 25.1%, from $228K to $285K. In its most recent filing year (2023), Racing For Heroes Inc reported a surplus of $28K, with revenue exceeding expenses. The organization holds $436K in liabilities against $246K in assets (debt-to-asset ratio: 176.9%), resulting in net assets of $-189,584.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $313K | $285K | $246K | $436K | — | — |
| 2022 | $407K | $494K | $217K | $452K | — | View 990 |
| 2021 | $311K | $490K | $293K | $455K | — | View 990 |
| 2020 | $234K | $323K | $167K | $169K | — | — |
| 2019 | $171K | $223K | $88K | $0 | — | View 990 |
| 2018 | $918K | $877K | $161K | $20K | — | View 990 |
| 2017 | $210K | $208K | $135K | $0 | — | View 990 |
| 2016 | $258K | $129K | $133K | $0 | — | View 990 |
| 2015 | $117K | $113K | $4K | $0 | — | View 990 |
| 2014 | $228K | $228K | $18 | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $313K, expenses of $285K, and assets of $246K (revenue -23.2% year-over-year).
- 2022: Revenue of $407K, expenses of $494K, and assets of $217K (revenue +31.1% year-over-year).
- 2021: Revenue of $311K, expenses of $490K, and assets of $293K (revenue +32.8% year-over-year).
- 2020: Revenue of $234K, expenses of $323K, and assets of $167K (revenue +36.6% year-over-year).
- 2019: Revenue of $171K, expenses of $223K, and assets of $88K (revenue -81.3% year-over-year).
- 2018: Revenue of $918K, expenses of $877K, and assets of $161K (revenue +336.6% year-over-year).
- 2017: Revenue of $210K, expenses of $208K, and assets of $135K (revenue -18.4% year-over-year).
- 2016: Revenue of $258K, expenses of $129K, and assets of $133K (revenue +120.8% year-over-year).
- 2015: Revenue of $117K, expenses of $113K, and assets of $4K (revenue -48.7% year-over-year).
- 2014: Revenue of $228K, expenses of $228K, and assets of $18.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Racing For Heroes Inc:
Data Sources and Methodology
This transparency report for Racing For Heroes Inc 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.