Racing Magpie
EIN: 834658072 · Rapid City, SD · NTEE: A20
| Metric | Value |
|---|---|
| Total Revenue | $515K |
| Total Expenses | $309K |
| Net Assets | $108K |
Is Racing Magpie Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Racing Magpie
Racing Magpie (EIN: 834658072) is a nonprofit organization based in Rapid City, SD, classified under NTEE code A20. The organization reported total revenue of $515K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Racing Magpie's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Racing Magpie is a small nonprofit that has been operating for 7 years, with 3 years of IRS 990 filings on record (2020–2022). Revenue has grown at a compound annual rate of 35.3%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $225K |
| Total Expenses | $309K |
| Surplus / Deficit | $-84,943 |
| Total Assets | $1.8M |
| Total Liabilities | $1.7M |
| Net Assets | $108K |
| Operating Margin | -37.8% |
| Debt-to-Asset Ratio | 93.9% |
| Months of Reserves | 68.5 months |
Financial Health Grade: C
In 2022, Racing Magpie reported a deficit of $85K with expenses exceeding revenue, holds 68.5 months of operating reserves (strong position), has a debt-to-asset ratio of 93.9% (high leverage).
Financial Trends
Over 3 years of filings (2020–2022), Racing Magpie's revenue has grown at a compound annual growth rate (CAGR) of 35.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -29.0% | +78.1% | +111.1% |
| 2021 | +158.0% | +140.8% | +1558.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2019 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Racing Magpie 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 Magpie 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 (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $85K, with expenses exceeding revenue.
- Debt-to-asset ratio: 93.9%.
Frequently Asked Questions about Racing Magpie
Is Racing Magpie a legitimate charity?
Based on AI analysis of IRS 990 filings, Racing Magpie (EIN: 834658072) insufficient data. 0 red flags identified, 0 strengths noted.
How does Racing Magpie spend its money?
Detailed spending breakdown data is not yet available for Racing Magpie. Check back for updated IRS 990 analysis.
Are donations to Racing Magpie tax-deductible?
Racing Magpie is registered as a tax-exempt nonprofit (EIN: 834658072). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Racing Magpie located?
Racing Magpie is headquartered in Rapid City, South Dakota and files with the IRS under EIN 834658072. It is classified under NTEE code A20.
How many years of IRS 990 filings does Racing Magpie have?
Racing Magpie has 3 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $515K in total revenue.
Filing History
IRS 990 filing history for Racing Magpie showing financial trends over 3 years of public records:
Over 3 years of IRS 990 filings (2020–2022), Racing Magpie's revenue has grown by 83.2%, moving from $123K to $225K. Total assets increased by 3401.5% over the same period, from $50K to $1.8M. Total functional expenses rose by 328.9%, from $72K to $309K. In its most recent filing year (2022), Racing Magpie reported a deficit of $85K, with expenses exceeding revenue. The organization holds $1.7M in liabilities against $1.8M in assets (debt-to-asset ratio: 93.9%), resulting in net assets of $108K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $225K | $309K | $1.8M | $1.7M | — | View 990 |
| 2021 | $316K | $174K | $837K | $644K | — | View 990 |
| 2020 | $123K | $72K | $50K | $0 | — | — |
Year-by-Year Financial Summary
- 2022: Revenue of $225K, expenses of $309K, and assets of $1.8M (revenue -29.0% year-over-year).
- 2021: Revenue of $316K, expenses of $174K, and assets of $837K (revenue +158.0% year-over-year).
- 2020: Revenue of $123K, expenses of $72K, and assets of $50K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Racing Magpie:
Data Sources and Methodology
This transparency report for Racing Magpie 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.