Racing Thoughts Inc

Nonprofit profile at a glance

EIN
133835811
IRS 990-EZ coverage
2009–2024
Forms available
Form 990-EZ 2024
Location
Brooklyn, NY, USA
Phone
2122265109
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Dance

Reported finances

Revenue
$53,707
Expenses
$39,641
Assets
$145,284
Liabilities
$2,769

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • Sukey Wagner (President)

People named in this filing

  • Jane Comfort (Artistic Dir.)
  • Cynthia Svigals (Secretary)
  • Lawton Fitt (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Racing Thoughts was formed to support the artistic work of Jane Comfort and Company. Jane Comfort has been choreographing since 1978 and creates dance theater works that are dedicated to achieving a new fusion of text and movement as a means of deep social commentary.

What it reported doing in 2024

Jane Comfort began the fiscal year with rehearsals for a new work, Only an Expert, which premiered in September at the 2024 DanceNOW festival at Joes Pub in New York City. Her documentary feature length film, "Breaking Form," continued to screen throughout the country, winning best film at the Big Sky Film Festival, and audience favorite at the Sans Souci Film Festival. It traveled to the American Dance Festivals film festival in Durham, NC, Louisville, TN, Portugal, England, and San Franciscos Dance Film Festival where Jane, filmmaker and "Breaking Form" director Alexandra Nikolchev, and co-producer Leslie Cuyjet traveled to participate in the post screening talk. The film was shown at Lincoln Center again in April 2025 to a sold out audience. In the Q&As following these screenings, Jane taught the audiences the sign language version of the first verse of Amazing Grace which everyone sang and signed together. The film ends with footage of the company signing Amazing Grace, and audiences have loved doing it themselves. The company has joined with Cinema Guild to make the film available to educators throughout the country.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 100
  • Sustainability: 65
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.4%; rating input score 55
  • Program expense ratio: 75.1%; rating input score 75

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 26.2%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 3.66; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 8.8%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: -3.2% per year; rating input score 0; 39th percentile among comparable filings
  • Revenue growth: -2.4% per year; rating input score 0; 42nd percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 55.4% of revenue deployed · 75.1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $30K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.