Racing Thoughts Inc
- Assets
- $132.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Brooklyn, NY
- Founding
- 08/1996
- Data as of
- 06/2024
- EIN
- 13-3835811
Organization Overview
Racing Thoughts Inc is located in Brooklyn, NY. The organization was established in 1996. According to its NTEE Classification (A62) the organization is classified as: Dance, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Racing Thoughts Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Racing Thoughts Inc generated $97.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.0%) each year. All expenses for the organization totaled $80.7k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (5.8%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3
JANE COMFORT AND COMPANY STARTED THE FISCAL YEAR WITH REHEARSALS FOR A NEW WORK, NEGOTIATION #351, WHICH PREMIERED IN SEPTEMBER AT THE 2023 DANCENOW FESTIVAL AT JOE'S PUB IN NEW YORK CITY. IN OCTOBER, JANE WAS COMMISSIONED BY NYS DANCE FORCE TO MENTOR NY STATE ARTIST OLIVE PRINCE. JANE SPENT A WEEK IN ITHACA WITH HER AND HER COMPANY, GIVING FEEDBACK ON HER CHOREOGRAPHY AND CHALLENGING HER TO TAKE MORE RISKS. THE COMPANY CELEBRATED THE PREMIERE OF THE DOCUMENTARY FILM ABOUT JANE COMFORT'S LIFE AND CHOREOGRAPHIC WORK, ENTITLED "BREAKING FORM," AT THE 2024 DANCE ON CAMERA FILM FESTIVAL AT LINCOLN CENTER TO A SOLD OUT AUDIENCE. THIS FEATURE LENGTH FILM, DIRECTED BY ACCLAIMED DOCUMENTARIAN ALEXANDRA NIKOLCHEV, INCLUDES CONTRIBUTIONS FROM FORMER PERFORMERS, COMPOSERS, AND ARTISTS WHO HAVE WORKED WITH THE COMPANY AS WELL AS IMPACTFUL HISTORICAL FOOTAGE FROM PERIODS IN NEW YORK CITY THAT ARE RELEVANT TO MS. COMFORT'S CHOREOGRAPHIC HISTORY. "BREAKING FORM" WAS SCREENED AT FESTIVALS IN MARTHA'S VINEYARD AND AT THE WORLD-RENOWNED JACOB'S PILLOW DANCE FESTIVAL, TO EXCELLENT FEEDBACK AND SPIRITED DISCUSSION. JANE BEGAN REHEARSING FOR A NEW WORK FOR THE 2024 DANCENOW FESTIVAL IN JUNE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jane Comfort Artistic Dir. | 30 | $1,500 | |
Cynthia Svigals Secretary | 2 | $0 | |
Lawton Fitt Director | 2 | $0 | |
John Comfort Director | 2 | $0 | |
Sukey Wagner President | 2 | $0 | |
Nancy Fitzpatrick Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $90,089 |
| Total Program Service Revenue | $4,000 |
| Membership dues | $0 |
| Investment income | $2,638 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $1,167 |
| Total Revenue | $97,894 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $16,542 |
| Professional fees and other payments to independent contractors | $24,116 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $40,003 |
| Total expenses | $80,661 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $128,795 |
| Other assets | $0 |
| Total assets | $132,833 |
| Total liabilities | $4,384 |
| Net assets or fund balances | $128,449 |