Overview
What is Racing Industry Charitable Foundation Inc?
Racing Industry Charitable Foundation Inc is a nonprofit organization, headquartered in Cicero, Illinois, specifically at 3501 South Laramie Avenue. Their primary mission is to extend essential medical, dental, mental, and social support services to the dedicated workforce responsible for the well-being of horses at various race tracks in Illinois. With a team of nine individuals, the foundation is committed to improving the overall well-being of these horse care workers, ensuring they receive the necessary care and resources to maintain their health and wellness.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%
The Racing Industry Charitable Foundation Inc has achieved an impressive Four-Star out of Four Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial health. With an overall score of 94%, the organization demonstrates solid practices in governance, including a fully independent board and comprehensive financial oversight, which are critical for fostering trust among donors.
Strengths of the foundation include a high program expense ratio of 85.86%, indicating that a significant portion of its funding is directed towards its charitable programs. Additionally, the foundation maintains robust policies regarding conflict of interest, whistleblower protections, and document retention, which further underscores its transparency and ethical management.
While the organization exhibits many strengths in accountability and financial practices, the data does not indicate any specific limitations or areas needing improvement. Overall, the Racing Industry Charitable Foundation Inc stands out as a well-managed nonprofit dedicated to supporting the racing community.
This AI summary has been generated from information found on Charity Navigator.
Is Racing Industry Charitable Foundation Inc legitimate?
Racing Industry Charitable Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Racing Industry Charitable Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $112,890
Professional Fundraising Fees: $0
Other Salaries and Wages: $240,993
For more financial information, click here
What is the mission statement of Racing Industry Charitable Foundation Inc?
The Racing Industry Charitable Foundation Inc is committed to providing essential medical, dental, mental, and social services to the horse care workers at Illinois race tracks. Their mission is to ensure the well-being of these individuals, recognizing their crucial role in the racing industry. By offering these services, the foundation aims to support the health and overall well-being of these workers, enhancing their quality of life.
Who is the CEO of Racing Industry Charitable Foundation Inc?
Paul Coronado is the President (8/1/22-12/31/22) of Racing Industry Charitable Foundation Inc.
What is the revenue of Racing Industry Charitable Foundation Inc?
Racing Industry Charitable Foundation Inc's revenue in 2022 was $766,664.
Who are the executives of Racing Industry Charitable Foundation Inc and what are their salaries?
The average compensation at Racing Industry Charitable Foundation Inc during 2022 was $39,320. There are 9 employees at Racing Industry Charitable Foundation Inc.
Here are 11 key members and their salaries:
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- Compensation: $80,000
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- Other: $32,890
Where can I find the form 990 for Racing Industry Charitable Foundation Inc?
Racing Industry Charitable Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Racing Industry Charitable Foundation Inc
Racing Industry Charitable Foundation Inc is committed to providing essential medical, dental, mental, and social services to the dedicated horse care workers at Illinois race tracks. This nonprofit organization's mission is centered around addressing the well-being of these individuals, recognizing their vital role in the horse racing industry. By offering a comprehensive range of services, Racing Industry Charitable Foundation Inc aims to support the physical and emotional health of horse care workers, ensuring they can continue their critical work with optimal wellness.
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Impact
October, 2024
Racing Industry Charitable Foundation Inc significantly impacts the lives of horse care workers at Illinois race tracks by offering vital medical, dental, mental, and social services. This support is essential for the well-being of these workers, who often face unique challenges in their profession. By addressing healthcare needs, the foundation helps ensure that these workers can maintain their health and quality of life, enabling them to perform their duties effectively. The organization plays a crucial role in fostering a safer, healthier work environment within the racing industry in Illinois, ultimately contributing to the overall welfare of the community involved in horse racing.
This information is meant to be a general summary of Racing Industry Charitable Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $4,291
- Gross Receipts: $766,664
Assets and Liabilities:
- Total Assets: $345,384
- Total Liabilities: $66,474
- Net Assets: $278,910
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COPAYMENTS
Revenue
$4,291
Organization Details
Founding Year
1979
Phone
(708) 343-9375Principal Officer
Paul Coronado
Main Address
3501 SOUTH LARAMIE AVENUE, CICERO, IL, 608044503
NTEE Category
Code: Z99 - Unknown
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