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Racing for Kids

Tax-deductible

Harbor Spgs, MI501(c)(3)Health CareEIN 38-3457448Revenue $312K in FY2024

On file with the IRSracingforkids.org8120 Lindy Ln, 49740-9028 · Harbor Spgs, MITax-exempt since Feb 2000Publicly supported charity — 170(b)(1)(A)(vi)

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Using motorsports to call attention to health care needs of children

501(c)(3) charity; gifts are tax-deductible.
64¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $4K a year · 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
64%
of spending
Worth a look: 64% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 3.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $97K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$3K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$312K
+25% vs prior year
Spent
$360K
To programs
64%
Net assets
$115K
By yearFY2020–FY2024
Revenue
$312K
FY2024▲ +25%
Tap a bar for its year
Revenue by fiscal year
FY2020$220K
FY2021$396K
FY2022$437K
FY2023$249K
FY2024$312K
Expenses
$360K
FY2024▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$219K
FY2021$334K
FY2022$392K
FY2023$290K
FY2024$360K
Net assets
$115K
FY2024▼ -29%
Tap a bar for its year
Net assets by fiscal year
FY2020$94K
FY2021$156K
FY2022$202K
FY2023$161K
FY2024$115K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2000.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

64 cents of each dollar spent went to programs.

Program services 64% · $230K Management & general 24% · $87K Fundraising 12% · $42K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Robert P Buhl
Vice President
$0Pt VII · Sec A
J Patrick Wright
Treas, Secy, Exec Dir
$0Pt VII · Sec A
See Racing for Kids executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes children's healthcare needs through motorsports events.

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Provided by the organization

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2 programs · $230K · in their own filed words · FY2024
01

Expenses are connected with payroll,marketing and promotions, travel, and other related program services.

$199Kprogram expense
02

Direct contributions to various children's hospitals and related charitable organizations

$31Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Konzen Family FoundationFY2024$50K
Gs Donor Advised Philanthropy Fund for Wealth Management INCFY2024$15K
Benson & Edith Ford FundFY2024$10K
The McCallister Family FoundationFY2024$10K
Community Foundation for Southeast MichiganFY2024$8K
Maureen Wright Family Charitable and Scholarship FundFY2024$3K
William & Martha Ford FundFY2024$1K
Total grants receivedfrom 7 funders$97K
See all 7 funders →
Grants paid · 16 grants · $301K · 2020–2024
Childrens Hospital of Michigan FoundationMI · FY2024$13,000
Henry Ford Health St John FoundationMI · FY2024$6,679
Childrens Hospital of Michigan FoundationMI · FY2023$52,500
Henry Ford Health St John FoundationMI · FY2022$32,564
Teen Street SkillsMI · FY2022$30,000
Beaumont Health FoundationMI · FY2022$30,000
Henry Ford Health SystemMI · FY2022$30,000
University of Detroit MercyMI · FY2022$5,180
Henry Ford Health SystemMI · FY2021$28,000
Henry Ford Health St John FoundationMI · FY2021$28,000
Beaumont Health FoundationMI · FY2021$17,000
Childrens Hospital of Michigan FoundationMI · FY2021$17,000
St Vincent Hospital and Health Care Center INCMO · FY2020$5,000
James Whitcomb Riley Memorial AssociationIN · FY2020$5,000
Grosse Pointe Chamber of Commerce INCMI · FY2020$640
Childrens Hospital of Michigan FoundationMI · FY2020$500

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$312K
Ln 12
Gifts and grantsLn 1h$281K
Other incomeLn 4–11$31K
Money outPt IX
$360K
Ln 25
Programscol B$230K
Managementcol C$87K
Fundraisingcol D$42K
Owns and owesPt X
$115K
net assets · Ln 32
Cash and savingsLn 1–2$113K
Total assetsLn 16$118K
LiabilitiesLn 26$3K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$281K
Other incomeLn 4–11$31K
Total revenueLn 12$312K
Assets in detailPt X, end of year
CashLn 1$113K
Cash and savings togetherLn 1–2$113K
Land, buildings, equipmentLn 10c$3K
Other assetsLn 15$2K
Total assetsLn 16$118K
LiabilitiesLn 26$3K
Net assetsLn 32$115K
OperationsPt I, VI
EmployeesI 52
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$154K$113K
Land, buildings, equipmentLn 10c$3K$3K
Total assetsLn 16$185K$118K
LiabilitiesLn 26$24K$3K
Net assetsLn 32$161K$115K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$31K$31K
Pay of disqualified personsLn 6$123K$87K$18K$18K
Other salaries and wagesLn 7$19K$11K$5K$3K
Accounting feesLn 11c$10K$10K
Advertising and promotionLn 12$21K$16K$2K$3K
Office expensesLn 13$2K$2K
OccupancyLn 16$11K$11K
TravelLn 17$73K$49K$25K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$59K$36K$6K$17K
All other expensesLn 24e$8K$6K$2K
Total functional expensesLn 25$360K$230K$87K$42K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $312K$360K−$48K$115K 990 PDF
FY2023 $249K$290K−$41K$161K 990 PDF
FY2022 $437K$392K$45K$202K 990 PDF
FY2021 $396K$334K$63K$156K 990 PDF
FY2020 $220K$219K$2K$94K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $311,746 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $201,580$280,968
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $47,594$30,778
I-12 Total revenuePrior year $249,174$311,746
I-13 Grants and similar amounts paidPrior year $55,065$31,179
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $91,637$142,425
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $143,192$186,476
I-18 Total expensesPrior year $289,894$360,080
I-19 Revenue less expensesPrior year −$40,720−$48,334
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $311,746 across 4 lines filed
VIII-1f All other contributions, gifts and grants$280,968
VIII-1h Total contributions, gifts and grants$280,968
VIII-8 Net income from fundraising eventsExcluded from tax $30,778$30,778
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $30,778$311,746
Part IX · Statement of functional expenses $360,080 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $31,179$31,179
IX-6 Pay of disqualified personsPrograms $87,359 · Management $17,818 · Fundraising $18,132$123,309
IX-7 Other salaries and wagesPrograms $11,470 · Management $4,823 · Fundraising $2,823$19,116
IX-11c Accounting feesManagement $9,933$9,933
IX-12 Advertising and promotionPrograms $15,653 · Management $1,967 · Fundraising $3,032$20,652
IX-13 Office expensesManagement $1,952$1,952
IX-16 OccupancyManagement $10,601$10,601
IX-17 TravelPrograms $48,686 · Management $24,768$73,454
IX-23 InsuranceManagement $3,349$3,349
IX-24 Other expenses (24a–d)Programs $35,948 · Management $6,378 · Fundraising $16,514$58,840
IX-24e All other expensesManagement $5,737 · Fundraising $1,958$7,695
IX-25 Total functional expensesPrograms $230,295 · Management $87,326 · Fundraising $42,459$360,080
Part X · Balance sheet $118,332 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $153,669$113,486
X-4 Accounts receivableStart of year $21,207$0
X-10c Land, buildings and equipment, netStart of year $2,846$2,846
X-15 Other assetsStart of year $7,141$2,000
X-16 Total assetsStart of year $184,863$118,332
X-17 Accounts payable and accrued expensesStart of year $23,706$3,433
X-26 Total liabilitiesStart of year $23,706$3,433
X-32 Total net assets or fund balancesStart of year $161,157$114,899
X-33 Total liabilities and net assetsStart of year $184,863$118,332
Part XI · Reconciliation of net assets $114,899 net assets at year end
XI-1 Total revenue$311,746
XI-2 Total expenses$360,080
XI-3 Revenue less expenses−$48,334
XI-4 Net assets at start of year$161,157
XI-8 Prior period adjustments$2,076
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$114,899

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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