Liabilities / Assets
69th percentile
Higher debt load relative to assets than 69% of similar nonprofits.
Racing Thoughts Inc.
990EZ • Fiscal year 2023 • EIN 13-3835811
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.04x
Liabilities / Revenue
74th percentile
Higher debt load relative to revenue than 74% of similar nonprofits.
Net Margin
14th percentile
Higher net margin than 14% of similar nonprofits.
Top Officer Pay
80th percentile
Higher top officer pay than 80% of similar nonprofits.
Top officer pay equals 4.0% of source-year revenue.
Asset Growth
24th percentile
Faster asset growth than 24% of similar nonprofits.
Revenue Growth
86th percentile
Faster revenue growth than 86% of similar nonprofits.
Balance Sheet
Assets
Down$115,762
Down $26,207 (-18%) from 2022
Net Assets
Down$111,216
Down $25,789 (-19%) from 2022
Liabilities
Down$4,546
Down $418 (-8.4%) from 2022
Revenue And Expenses
Revenue
Up$96,992
Up $49,457 (+104%) from 2022
Expenses
Up$122,781
Up $84,917 (+224%) from 2022
Net Income
Down-$25,789
Down $35,460 (-367%) from 2022
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2022 to Jun 30, 2023
- Signed
- Apr 23, 2024
- Return Version
- 2022v5.0
- Gross Receipts
- $96,992
Mission and Program 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.
Program Services
| Description | Grants | Expenses |
|---|---|---|
| Jane Comfort and Company successfully performed its Unvarnished America tour, finally, which had been long postponed due to COVID-19 scheduling adjustments. The tour presented a new evening of assembled works at the University of Rochester in Rochester, NY and Hobart and William-Smith College in Geneva, NY, as well as a virtual showing in Washington DC at Dance Place. The tour engaged both recurring and new dancers to perform for this landmark season. Artistic Director Jane Comfort also did extensive collegiate teaching in association with these tours. Jane toured to Estonia, where she set her work Amazing Grace on a group of choreographers, and created a new work for two dancers. The company completed post-production for the documentary film about Jane Comfort's life and choreographic work, entitled "Breaking Form," by the end of FY23 and began submitting the film to festivals worldwide. 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. In June, Jane also began rehearsals on a new work, Negotiation #351, which would premiere in Fall 23. | - | $109,303 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Jane Comfort | Artistic Director | PT | $3,850 | - | $3,850 |
| Cynthia Svigals | Secretary | - | $0 | - | - |
| Lawton Fitt | Director | - | $0 | - | - |
| John Comfort | Director | - | $0 | - | - |
| Suki Wagner | President | - | $0 | - | - |
| Nancy Fitzpatrick | Director | - | $0 | - | - |
| Adrian Doherty | Treasurer | - | $0 | - | - |
| Don McCoy | Director | - | $0 | - | - |
Filing and Contact Details
Filer
- Filer Name
- Racing Thoughts Inc
- EIN
- 13-3835811
- Phone
- 2122265109
- Address
- 41 Eastern Parkway 9A, Brooklyn, NY 11238
Signing Officer
- Name
- Jane Comfort
- Title
- Artistic Director
- Signed
- 2024-04-23
- Discuss with paid preparer
- Yes
Preparer
- Firm
- Mary G Sormeley CPA
- Address
- 560 Day Ave, Ridgefield, NJ 07657
- Preparer
- Mary G Sormeley
- Phone
- 2018328922
Supplemental Narrative
Additional Explanations
Other Expenses.1002
“Office Expenses $2731”
Other Expenses.1003
“Information Technology $243”
Other Expenses.1009
“Depreciation $274”
Other Expenses.1012
“Insurance $1707”
Other Expenses.1
“Touring costs $8637”
Other Expenses.2
“Production costs $6365”
Other Expenses.3
“Payroll service $1283”
Other Expenses.4
“Hospitality $809”
Other Expenses.5
“Bank and transaction fees $634”
Other Expenses.6
“Dues and memberships $261”
Other Expenses.7
“Filing fees $150”
Other Expenses.8
“Fundraising expense $54”
Other Expenses.9
“Local transportation $40”
Other Assets.1004
“Miscellaneous - Beginning $274 Miscellaneous - Ending $0”
Other Assets.1011
“Prepaid Expenses and Deferred Charges - Beginning $2206 Prepaid Expenses and Deferred Charges - Ending $0”
Total Liabilities.1001
“Accounts Payable and Accrued Expenses - Beginning $3746 Accounts Payable and Accrued Expenses - Ending $2022”
Total Liabilities.1
“Direct deposit liabilities - Beginning $207 Direct deposit liabilities - Ending $0”
Total Liabilities.2
“P/R liabilities - Beginning $1011 P/R liabilities - Ending $2524”
Raw XML Appendix213 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt | 0 | Jane Comfort and Company successfully performed its Unvarnished America tour, finally, which had been long postponed due to COVID-19 scheduling adjustments. The tour presented a new evening of assembled works at the University of Rochester in Rochester, NY and Hobart and William-Smith College in Geneva, NY, as well as a virtual showing in Washington DC at Dance Place. The tour engaged both recurring and new dancers to perform for this landmark season. Artistic Director Jane Comfort also did extensive collegiate teaching in association with these tours. Jane toured to Estonia, where she set her work Amazing Grace on a group of choreographers, and created a new work for two dancers. The company completed post-production for the documentary film about Jane Comfort's life and choreographic work, entitled "Breaking Form," by the end of FY23 and began submitting the film to festivals worldwide. 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. In June, Jane also began rehearsals on a new work, Negotiation #351, which would premiere in Fall 23. |
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| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
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| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Office Expenses $2731 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | Information Technology $243 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Depreciation $274 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | Insurance $1707 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | Touring costs $8637 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | Production costs $6365 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | Payroll service $1283 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | Hospitality $809 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | Bank and transaction fees $634 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 9 | Dues and memberships $261 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 10 | Filing fees $150 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 11 | Fundraising expense $54 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 12 | Local transportation $40 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 13 | Miscellaneous - Beginning $274 Miscellaneous - Ending $0 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 14 | Prepaid Expenses and Deferred Charges - Beginning $2206 Prepaid Expenses and Deferred Charges - Ending $0 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 15 | Accounts Payable and Accrued Expenses - Beginning $3746 Accounts Payable and Accrued Expenses - Ending $2022 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 16 | Direct deposit liabilities - Beginning $207 Direct deposit liabilities - Ending $0 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 17 | P/R liabilities - Beginning $1011 P/R liabilities - Ending $2524 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Other Expenses.1002 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Other Expenses.1003 |
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| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Other Expenses.1012 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Other Expenses.1 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | Other Expenses.2 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | Other Expenses.3 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | Other Expenses.4 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 8 | Other Expenses.5 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 9 | Other Expenses.6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 10 | Other Expenses.7 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 11 | Other Expenses.8 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 12 | Other Expenses.9 |
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| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 15 | Total Liabilities.1001 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 16 | Total Liabilities.1 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 17 | Total Liabilities.2 |
| ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd | 0 | AAL1 |
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| ReturnHeader/BuildTS | 0 | 2023-04-26 12:10:37Z |
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| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Jane Comfort |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | Artistic Dir. |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2024-04-23 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | Racing Thoughts Inc |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | RACI |
| ReturnHeader/Filer/EIN | 0 | 133835811 |
| ReturnHeader/Filer/PhoneNum | 0 | 2122265109 |
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| ReturnHeader/Filer/USAddress/CityNm | 0 | Brooklyn |
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| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 11238 |
| ReturnHeader/IRSResponsiblePrtyInfoCurrInd | 0 | true |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 823782880 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | Mary G Sormeley CPA |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 560 Day Ave |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | Ridgefield |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | NJ |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 07657 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 2018328922 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | Mary G Sormeley |
| ReturnHeader/PreparerPersonGrp/SelfEmployedInd | 0 | X |
| ReturnHeader/ReturnTs | 0 | 2024-04-23T04:18:56-07:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990EZ |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm | 0 | Jane |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm | 0 | Comfort |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2022-07-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2023-06-30 |
| ReturnHeader/TaxYr | 0 | 2022 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2023 • Form 990EZDetailed filing. Detailed filing data is available for this year.
- Assets
- $115,762
- Liabilities
- $4,546
- Net assets
- $111,216
- Revenue
- $96,992
- Expenses
- $122,781
- Net income
- -$25,789