Racing With Jesus Ministries Inc
Racing With Jesus Ministries: Declining Revenue, High Administrative Costs
EIN: 222514506 · Tolland, CT · Updated: 2026-04-04
Is Racing With Jesus Ministries Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Racing With Jesus Ministries Inc directs 20% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Racing With Jesus Ministries Inc
Racing With Jesus Ministries Inc (EIN: 222514506) is a nonprofit organization based in Tolland, CT. The organization reported total revenue of $248K and total assets of $741K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Racing With Jesus Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Racing With Jesus Ministries Inc is a small nonprofit that has been operating for 40 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $83K |
| Total Expenses | $107K |
| Surplus / Deficit | $-23,595 |
| Total Assets | $632K |
| Total Liabilities | $46K |
| Net Assets | $586K |
| Operating Margin | -28.4% |
| Debt-to-Asset Ratio | 7.3% |
| Months of Reserves | 71.1 months |
Financial Health Grade: B
In 2023, Racing With Jesus Ministries Inc reported a deficit of $24K with expenses exceeding revenue, holds 71.1 months of operating reserves (strong position), has a debt-to-asset ratio of 7.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Racing With Jesus Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -22.6% | +13.6% | -0.1% |
| 2022 | -9.7% | +12.6% | +6.1% |
| 2021 | -78.4% | -50.9% | +5.5% |
| 2020 | +607.5% | +114.4% | +170.6% |
| 2019 | -27.2% | -24.1% | -2.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7100 |
| IRS Ruling Date | 1986 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Racing With Jesus Ministries Inc with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 60%
- programs: 20%
- fundraising: 20%
According to IRS 990 filings, Racing With Jesus Ministries Inc allocates its expenses as follows: admin: 60%, programs: 20%, fundraising: 20%. Only 20% is directed toward programs, which may warrant further investigation by donors.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $24K, with expenses exceeding revenue.
- Debt-to-asset ratio: 7.3%.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, which is unusual for an organization with significant assets and expenses, potentially indicating unrecorded benefits or volunteer leadership.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Racing With Jesus Ministries Inc's IRS 990 filings:
- Significant and consistent decline in revenue over the past four years, from $549,785 in 2020 to $83,077 in 2023.
- Expenses frequently exceed revenue, leading to a reduction in net assets in several years.
- High proportion of expenses allocated to administrative costs, given the reported 0% compensation for key personnel.
- The organization's net assets have grown despite revenue declines, from $208,688 in 2019 to $631,816 in 2023, which warrants further investigation given the expense patterns.
- Lack of clarity on how the mission is being achieved with declining revenue and reported zero compensation for leadership.
Strengths
The following positive indicators were identified for Racing With Jesus Ministries Inc:
- Maintains a substantial asset base, with total assets reported at $631,816 in 2023.
- Low liabilities reported, with $46,042 in 2023, indicating good financial solvency in terms of debt.
Frequently Asked Questions about Racing With Jesus Ministries Inc
Is Racing With Jesus Ministries Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Racing With Jesus Ministries Inc (EIN: 222514506) significant concerns. Mission Score: 45/100. 5 red flags identified, 2 strengths noted.
How does Racing With Jesus Ministries Inc spend its money?
Racing With Jesus Ministries Inc directs 20% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Racing With Jesus Ministries Inc tax-deductible?
Racing With Jesus Ministries Inc is registered as a tax-exempt nonprofit (EIN: 222514506). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Racing With Jesus Ministries Inc do?
Racing With Jesus Ministries Inc is a nonprofit organization in the Unknown sector, located in Tolland, Connecticut. It is classified under NTEE code Unknown.
How much revenue does Racing With Jesus Ministries Inc have?
Racing With Jesus Ministries Inc reported total revenue of $247,758. Based on 13 IRS 990 filings on record.
What are Racing With Jesus Ministries Inc's total assets?
Racing With Jesus Ministries Inc holds total assets of $741,348 as reported in IRS 990 filings.
Where is Racing With Jesus Ministries Inc located?
Racing With Jesus Ministries Inc is based in Tolland, Connecticut.
What is Racing With Jesus Ministries Inc's EIN?
Racing With Jesus Ministries Inc's Employer Identification Number (EIN) is 222514506. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Racing With Jesus Ministries Inc?
Racing With Jesus Ministries Inc is classified under NTEE code Unknown (Unknown).
Is Racing With Jesus Ministries Inc a registered 501(c)(3)?
Racing With Jesus Ministries Inc appears in IRS records (EIN: 222514506). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Racing With Jesus Ministries Inc file IRS Form 990?
Yes, Racing With Jesus Ministries Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Racing With Jesus Ministries Inc's revenue in 2023?
In the 202312 filing period, Racing With Jesus Ministries Inc reported total revenue of $83,077, total expenses of $106,672, and net assets of $631,816.
Is Racing With Jesus Ministries Inc's revenue growing or declining?
Racing With Jesus Ministries Inc's revenue is declining. Revenue went from $107,328 (202212) to $83,077 (202312), a -22.6% change. Based on 13 filings on record.
What is Racing With Jesus Ministries Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Racing With Jesus Ministries Inc covers tax period 202312. It shows revenue of $83,077, expenses of $106,672, total assets of $631,816, and liabilities of $46,042.
How much does Racing With Jesus Ministries Inc spend on programs vs administration?
Based on IRS 990 analysis, Racing With Jesus Ministries Inc allocates approximately 20% of expenses to program services, 60% to administrative costs, and 20% to fundraising. Overhead costs appear high relative to program spending.
Is Racing With Jesus Ministries Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Racing With Jesus Ministries Inc shows mixed signals. Mission Score: 45/100 (Fair). 5 red flags identified. 2 strengths noted.
What are the red flags for Racing With Jesus Ministries Inc?
The following concerns were identified: Significant and consistent decline in revenue over the past four years, from $549,785 in 2020 to $83,077 in 2023.. Expenses frequently exceed revenue, leading to a reduction in net assets in several years.. High proportion of expenses allocated to administrative costs, given the reported 0% compensation for key personnel.. The organization's net assets have grown despite revenue declines, from $208,688 in 2019 to $631,816 in 2023, which warrants further investigation given the expense patterns.. Lack of clarity on how the mission is being achieved with declining revenue and reported zero compensation for leadership.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Racing With Jesus Ministries Inc's strengths?
Positive indicators for Racing With Jesus Ministries Inc include: Maintains a substantial asset base, with total assets reported at $631,816 in 2023.. Low liabilities reported, with $46,042 in 2023, indicating good financial solvency in terms of debt.. These findings are derived from AI analysis of the organization's financial filings.
How does Racing With Jesus Ministries Inc compensate executives?
Executive compensation is reported as $0 across all available filings, which is unusual for an organization with significant assets and expenses, potentially indicating unrecorded benefits or volunteer leadership. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Racing With Jesus Ministries Inc?
- The organization's 990-EZ filings show a consistent decline in revenue from $549,785 in 2020 to $83,077 in 2023. - Total expenses have exceeded revenue in multiple years, including $106,672 in expenses against $83,077 in revenue in 2023. - The organization consistently reports 0% compensation for officers, directors, trustees, and key employees. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
How does Racing With Jesus Ministries Inc. manage to increase its net assets from $208,688 in 2019 to $631,816 in 2023, despite a significant decline in revenue and expenses often exceeding income?
The increase in net assets, despite revenue declines and expense overruns, suggests potential non-cash contributions, investment gains, or significant asset revaluation not immediately apparent from the provided summary data. Further investigation into their balance sheet and statement of functional expenses would be necessary.
Given the reported 0% compensation for officers and key employees, what are the primary drivers of the organization's substantial administrative and fundraising expenses?
Without compensation for key personnel, the administrative and fundraising expenses (e.g., $106,672 in total expenses in 2023) likely stem from operational overheads such as rent, utilities, supplies, professional fees, or other non-personnel related costs. A detailed breakdown of functional expenses would clarify this.
Filing History
IRS 990 filing history for Racing With Jesus Ministries Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Racing With Jesus Ministries Inc's revenue has grown by 9.2%, moving from $76K to $83K. Total assets increased by 2937.1% over the same period, from $21K to $632K. Total functional expenses rose by 36.2%, from $78K to $107K. In its most recent filing year (2023), Racing With Jesus Ministries Inc reported a deficit of $24K, with expenses exceeding revenue. The organization holds $46K in liabilities against $632K in assets (debt-to-asset ratio: 7.3%), resulting in net assets of $586K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $83K | $107K | $632K | $46K | — | View 990 |
| 2022 | $107K | $94K | $633K | $23K | — | — |
| 2021 | $119K | $83K | $596K | $75 | — | — |
| 2020 | $550K | $170K | $565K | $4K | — | — |
| 2019 | $78K | $79K | $209K | $28K | — | View 990 |
| 2018 | $107K | $105K | $213K | $31K | — | View 990 |
| 2017 | $106K | $99K | $217K | $36K | — | View 990 |
| 2016 | $127K | $138K | $216K | $42K | — | View 990 |
| 2015 | $99K | $101K | $226K | $42K | — | View 990 |
| 2014 | $76K | $81K | $28K | $35K | — | View 990 |
| 2013 | $67K | $67K | $4K | $5K | — | View 990 |
| 2012 | $59K | $81K | $5K | $7K | — | View 990 |
| 2011 | $76K | $78K | $21K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $83K, expenses of $107K, and assets of $632K (revenue -22.6% year-over-year).
- 2022: Revenue of $107K, expenses of $94K, and assets of $633K (revenue -9.7% year-over-year).
- 2021: Revenue of $119K, expenses of $83K, and assets of $596K (revenue -78.4% year-over-year).
- 2020: Revenue of $550K, expenses of $170K, and assets of $565K (revenue +607.5% year-over-year).
- 2019: Revenue of $78K, expenses of $79K, and assets of $209K (revenue -27.2% year-over-year).
- 2018: Revenue of $107K, expenses of $105K, and assets of $213K (revenue +1.1% year-over-year).
- 2017: Revenue of $106K, expenses of $99K, and assets of $217K (revenue -16.7% year-over-year).
- 2016: Revenue of $127K, expenses of $138K, and assets of $216K (revenue +27.9% year-over-year).
- 2015: Revenue of $99K, expenses of $101K, and assets of $226K (revenue +30.2% year-over-year).
- 2014: Revenue of $76K, expenses of $81K, and assets of $28K (revenue +13.7% year-over-year).
- 2013: Revenue of $67K, expenses of $67K, and assets of $4K (revenue +14.0% year-over-year).
- 2012: Revenue of $59K, expenses of $81K, and assets of $5K (revenue -22.7% year-over-year).
- 2011: Revenue of $76K, expenses of $78K, and assets of $21K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Racing With Jesus Ministries Inc:
Data Sources and Methodology
This transparency report for Racing With Jesus Ministries 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.