Racing For Kids
- Assets
- $158.0k
- Revenue
- $396.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Grosse Pointe Farms, MI
- Founding
- 02/2000
- Data as of
- 12/2021
- EIN
- 38-3457448
Organization Overview
Racing For Kids is located in Grosse Pointe Farms, MI. The organization was established in 2000. According to its NTEE Classification (E86) the organization is classified as: Patient & Family Support, under the broad grouping of Health Care and related organizations. As of 12/2021, Racing For Kids employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Racing For Kids 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 12/2021, Racing For Kids generated $396.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $333.7k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Racing For Kids has awarded 31 individual grants totaling $597,378. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
USING MOTORSPORTS TO CALL ATTENTION TO HEALTH CARE NEEDS OF CHILDREN
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRECT CONTRIBUTIONS TO VARIOUS CHILDREN'S HOSPITALS AND RELATED CHARITABLE ORGANIZATIONS
EXPENSES ARE CONNECTED WITH PAYROLL,MARKETING AND PROMOTIONS, TRAVEL, AND OTHER RELATED PROGRAM SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Patrick Wright Treas, Secy, Exec Dir | OfficerTrustee | 30 | $0 |
William W Pinsky MD President | OfficerTrustee | 2 | $0 |
Robert P Buhl Vice President | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $238,516 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $238,516 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $157,789 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $396,305 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $97,840 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $62,201 |
| Other salaries and wages | $33,197 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,181 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $518 |
| Fees for services: Accounting | $7,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $35,483 |
| Advertising and promotion | $16,696 |
| Office expenses | $6,042 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,000 |
| Travel | $32,445 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,180 |
| All other expenses | $3,660 |
| Total functional expenses | $333,724 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,466 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,207 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,437 |
| Net Land, buildings, and equipment | $2,846 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $157,956 |
| Accounts payable and accrued expenses | $1,521 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,521 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $156,435 |
| Total liabilities and net assets/fund balances | $157,956 |
Grants Awarded
Over the last fiscal year, Racing For Kids has awarded $90,170 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Detroit, MI PURPOSE: GENERAL SUPPORT | $28,000 |
St Louis, MO PURPOSE: GENERAL SUPPORT | $28,000 |
Detroit, MI PURPOSE: GENERAL SUPPORT | $17,170 |
Southfield, MI PURPOSE: GENERAL SUPPORT | $17,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Racing For Kids has recieved totaling $0.
| Awarding Organization | Amount |
|---|---|
Grace Fleming Reinhold Scholarship Trust Sanibel, FL PURPOSE: EDUCATION | $0 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Make-A-Wish Foundation Of Ohio Kentucky And Indiana Inc Columbus, OH | $15,872,839 | $13,599,516 |
Make-A-Wish Foundation Of Michigan Brighton, MI | $10,107,725 | $9,980,417 |
Ronald Mcdonald House Charities Of Northeast Ohio Inc Cleveland, OH | $36,230,740 | $6,843,245 |
Make-A-Wish Foundation Of Wisconsin Inc Wauwatosa, WI | $20,875,834 | $8,322,945 |
Ronald Mcdonald House Charities Inc Youngstown, OH | $0 | $1,738,198 |
Ronald Mcdonald House Charities Of Central Ohio Inc Columbus, OH | $58,634,339 | $11,417,646 |
Ronald Mcdonald House Charities Of Eastern Wisconsin Inc Wauwatosa, WI | $44,058,995 | $8,974,077 |
The Rainbow Connection Rochester, MI | $4,575,197 | $3,692,285 |
Wellness Plan Medical Centers Foundation Detroit, MI | $21,645,852 | $1,827,669 |
Ronald Mcdonald House Charities Of Central Indiana Inc Indianapolis, IN | $15,485,004 | $4,081,551 |
Riley Cheer Guild Inc Indianapolis, IN | $2,832,608 | $2,416,808 |
Ronald Mcdonald House Charities Of Northwest Ohio Inc Toledo, OH | $11,226,275 | $1,341,682 |