Racing Magpie FY2021 filing

Tax-deductible

Rapid City, SD501(c)(3)Arts & CultureEIN 83-4658072Revenue $316K in FY2021

On file with the IRSracingmagpie.com801 E Saint Andrew St, 57701-3928 · Rapid City, SDTax-exempt since Jun 2019Publicly supported charity — 170(b)(1)(A)(vi)

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To elevate and amplify native and other artists and their communities through education, cultural, and research programs.

501(c)(3) charity; gifts are tax-deductible.
48¢ of each $1 spent went to programs.
$42K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · 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
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $78K a year · 22% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
48%
of spending
Concern: 48% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$42K
to officers and key staff · 24% of spending
Worth a look: pay to officers and key staff is 24% of spending; over 20%.
Pt VII · Sec A
Cash reserves
27 mo
of spending, in cash
Looks good: 27.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $827K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$644K
77% of total assets
Worth a look: liabilities are 77% of assets; over 65%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$316K
+158% vs prior year
Spent
$174K
To programs
48%
Net assets
$193K
By yearFY2020–FY2023
Revenue
$316K
FY2021▲ +158%
Tap a bar for its year
Revenue by fiscal year
FY2020$123K
FY2021$316K
FY2022$225K
FY2023$515K
Expenses
$174K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$174K
FY2022$309K
FY2023$340K
Net assets
$193K
FY2021▲ +282%
Tap a bar for its year
Net assets by fiscal year
FY2020$50K
FY2021$193K
FY2022$108K
FY2023$234K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Jun 2019.

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

Where the money goes

48 cents of each dollar spent went to programs.

Program services 48% · $84K Management & general 52% · $90K Fundraising 0% · $193

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

5 people listed on the 990; $42K paid to officers and key staff.

Part VII, Section A · reportable compensation
Director
$41,538Pt VII · Sec A
President
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Creative Dir
$0Pt VII · Sec A

Peter Strong’s $72K as Director is at the 66th percentile of top reported officer pay among 2216 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2023FY2022FY2021
Peter Strong$71,657$68,727$41,538
Mary Bordeaux$31,500$14,538—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Supports Native and other artists and communities through education, cultural, and research programs.

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Provided by the organization

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1 program · $84K · in their own filed words · FY2021
01

To elevate and amplify native and other artists and their communities through education, cultural, and research programs.

$84Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Arts MidwestFY2024$67K
Total grants receivedfrom 6 funders$827K
See all 6 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$316K
Ln 12
Gifts and grantsLn 1h$294K
Fees for servicesLn 2g$21K
Other incomeLn 4–11$1K
Money outPt IX
$174K
Ln 25
Programscol B$84K
Managementcol C$90K
Fundraisingcol D$193
Owns and owesPt X
$193K
net assets · Ln 32
Cash and savingsLn 1–2$397K
Total assetsLn 16$837K
LiabilitiesLn 26$644K
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$294K
Government grantsLn 1e$15K
Fees for servicesLn 2g$21K
Other incomeLn 4–11$1K
Total revenueLn 12$316K
Assets in detailPt X, end of year
CashLn 1$397K
Cash and savings togetherLn 1–2$397K
Land, buildings, equipmentLn 10c$440K
Total assetsLn 16$837K
LiabilitiesLn 26$644K
Net assetsLn 32$193K
OperationsPt I, VI
EmployeesI 53
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$48K$397K
Land, buildings, equipmentLn 10c$2K$440K
Total assetsLn 16$50K$837K
LiabilitiesLn 26$0$644K
Net assetsLn 32$50K$193K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$68K$68K
Other fees for servicesLn 11g$40K$36K$3K
Office expensesLn 13$6K$1K$4K
OccupancyLn 16$27K$22K$5K
Depreciation, depletion and amortizationLn 22$7K$6K$1K
Other expenses (24a–d)Ln 24$27K$18K$8K$193
Total functional expensesLn 25$174K$84K$90K$193

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $515K$340K$175K$234K 990 PDF
FY2022 $225K$309K−$85K$108K 990 PDF
FY2021 Viewing $316K$174K$142K$193K 990 PDF
FY2020 $123K$50K 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 FY2021 990 (6 parts)
Part I · Summary $316,238 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $122,580$293,854
I-9 Program service revenue$21,369
I-10 Investment income$0
I-11 Other revenue$1,015
I-12 Total revenuePrior year $122,580$316,238
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$67,570
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $72,165$106,216
I-18 Total expensesPrior year $72,165$173,786
I-19 Revenue less expensesPrior year $50,415$142,452
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $316,238 across 6 lines filed
VIII-1e Government grants$14,900
VIII-1f All other contributions, gifts and grants$278,954
VIII-1h Total contributions, gifts and grants$293,854
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $21,369$21,369
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,015$1,015
VIII-12 Total revenueRelated to mission $22,384$316,238
Part IX · Statement of functional expenses $173,786 across 6 lines filed
IX-7 Other salaries and wagesManagement $67,570$67,570
IX-11g Other fees for servicesPrograms $36,475 · Management $3,273$39,748
IX-13 Office expensesPrograms $1,474 · Management $4,107$5,581
IX-16 OccupancyPrograms $21,802 · Management $5,042$26,844
IX-22 Depreciation, depletion and amortizationPrograms $5,548 · Management $1,387$6,935
IX-24 Other expenses (24a–d)Programs $18,493 · Management $8,422 · Fundraising $193$27,108
IX-25 Total functional expensesPrograms $83,792 · Management $89,801 · Fundraising $193$173,786
Part X · Balance sheet $836,507 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $48,481$396,995
X-10c Land, buildings and equipment, netStart of year $1,959$439,512
X-16 Total assetsStart of year $50,440$836,507
X-17 Accounts payable and accrued expenses$1,540
X-25 Other liabilities$260,167
X-26 Total liabilitiesStart of year $0$643,615
X-27 Net assets without donor restrictionsStart of year $20,688$188,892
X-28 Net assets with donor restrictionsStart of year $29,752$4,000
X-32 Total net assets or fund balancesStart of year $50,440$192,892
X-33 Total liabilities and net assetsStart of year $50,440$836,507
Part XI · Reconciliation of net assets $192,892 net assets at year end
XI-1 Total revenue$316,238
XI-2 Total expenses$173,786
XI-3 Revenue less expenses$142,452
XI-4 Net assets at start of year$50,440
XI-10 Net assets at end of year$192,892

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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