Civic Intelligence

Magpie Creative

990 • Fiscal year 2021 • EIN 83-4658072

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 02, 2022

Organization ProfileRACINGMAGPIE.COM
PO Box 2950Rapid City, SD 57709

(605) 646-3321

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

92nd percentile

0.77x

Higher debt load relative to assets than 92% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

94th percentile

2.04x

Higher debt load relative to revenue than 94% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

84th percentile

45%

Higher net margin than 84% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

64th percentile

$41,538

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 13.1% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

99th percentile

1558%

Faster asset growth than 99% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

91st percentile

158%

Faster revenue growth than 91% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$836,507

Up $786,067 (+1558%) from 2020

Net Assets

Up

$192,892

Up $142,452 (+282%) from 2020

Liabilities

$643,615

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin84th percentile

Revenue

Up

$316,238

Up $193,658 (+158%) from 2020

Expenses

Up

$173,786

Up $101,621 (+141%) from 2020

Net Income

Up

$142,452

Up $92,037 (+183%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2020: $50,440Net Assets 2020: $50,4402020Assets 2021: $836,507Liabilities 2021: $643,615Net Assets 2021: $192,8922021Assets 2022: $1,766,143Liabilities 2022: $1,658,193Net Assets 2022: $107,9502022Assets 2023: $1,057,467Liabilities 2023: $823,597Net Assets 2023: $233,8702023

Highlighted filing

2021

Assets$836,507
Liabilities$643,615
Net Assets$192,892
Open 2021 Filing

Operations Trend

Revenue Growth91st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2020: $122,580Expenses 2020: $72,165Net Income 2020: $50,4152020Revenue 2021: $316,238Expenses 2021: $173,786Net Income 2021: $142,4522021Revenue 2022: $224,542Expenses 2022: $309,485Net Income 2022: -$84,9432022Revenue 2023: $514,812Expenses 2023: $339,697Net Income 2023: $175,1152023

Highlighted filing

2021

Revenue$316,238
Expenses$173,786
Net Income$142,452
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 2, 2022
Return Version
2021v4.0
Gross Receipts
$316,238
Mission and Program Overview

Mission

To elevate and amplify native and other artists and their communities through education, cultural, and research programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,959$439,512▲ $437,553
Cash and Non-Interest-Bearing Accounts$48,481$396,995▲ $348,514
Total Assets$50,440$836,507▲ $786,067
Liabilities
Mortgage Notes Payable Secured by Investment Property-$381,908-
Other Liabilities-$260,167-
Accounts Payable and Accrued Expenses-$1,540-
Total Liabilities$0$643,615▲ $643,615
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$20,688$188,892▲ $168,204
Net Assets With Donor Restrictions$29,752$4,000▼ $25,752
Total Net Assets Fund Balance$50,440$192,892▲ $142,452
Total Liabilities and Net Assets / Fund Balance$50,440$836,507▲ $786,067

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$362,437$6,622$369,059
Land$68,000-$68,000
Equipment$9,075$313$9,388
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Peter StrongDirectorFT$41,538$41,538

Board Members and Trustees

NameTitle
Molina ParkerPresident
Mary BordeauxCreative Director
Linda AndersonSecretary
Wade PattonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$293,854
Program Service Revenue
$21,369
Investment Income
$0
Other Revenue
$1,015
All Other Contributions
$278,954
Change in Net Assets
$142,452
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$106,216
Salaries, Compensation, and Employee Benefits$67,570
Total Fundraising Expense$193
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$67,570-$67,570
Fees for Services Other$36,475$3,273-$39,748
Occupancy$21,802$5,042-$26,844
Depreciation Depletion$5,548$1,387-$6,935
Office Expenses$1,474$4,107-$5,581
Other Expenses$1,145$997$193$2,335
Total Functional Expenses$83,792$89,801$193$173,786
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Rockefeller Trust Account$224,271
Four Bands Loc$21,034
Lakota Funds Loc$14,862
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The form 990 is reviewed by the executive director and made available to the board members to review prior to filing.”

Form 990, Page 6, Part VI, Line 15A

“The compensation level for the executive director is set by the board of directors. For other employees, the executive director recommends pay level and the board approves/dissaproves.”

Form 990, Page 6, Part VI, Line 15B

“Officers are not compensated, the board is a volunteer board. No key employees other than executive director.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, including copies of the tax returns, are available upon request using the contact information found on the website for the organization.”

Filing and Contact Details

Filer

Filer Name
Racing Magpie
EIN
83-4658072
Address
PO BOX 2950, RAPID CITY, SD 57709

Signing Officer

Name
Peter Strong
Title
Director
Phone
6056463321
Signed
2022-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Molina Parker
Formed
2019
Legal Domicile
Sd
Voting Board Members
5
Independent Board Members
5
Employees
3
Volunteers
10

Preparer

Firm
Fenenga Desmet & Company LLC
Address
PO BOX 748, WINNER, SD 57580
Preparer
Anna Desmet
Phone
6058421757
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contract services 36,475 3,273 0”

Raw XML Appendix331 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND MADE AVAILABLE TO THE BOARD MEMBERS TO REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE COMPENSATION LEVEL FOR THE EXECUTIVE DIRECTOR IS SET BY THE BOARD OF DIRECTORS. FOR OTHER EMPLOYEES, THE EXECUTIVE DIRECTOR RECOMMENDS PAY LEVEL AND THE BOARD APPROVES/DISSAPROVES.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACT SERVICES 36,475 3,273 0
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0RACINGMAGPIE.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PETER STRONG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06056463321
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RACING MAGPIE
ReturnHeader/Filer/BusinessNameControlTxt0RACI
ReturnHeader/Filer/EIN0834658072
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 2950
ReturnHeader/Filer/USAddress/CityNm0RAPID CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SD
ReturnHeader/Filer/USAddress/ZIPCd057709
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205804965
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FENENGA DESMET & COMPANY LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 748
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WINNER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd057580
ReturnHeader/PreparerPersonGrp/PhoneNum06058421757
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ANNA DESMET
ReturnHeader/ReturnTs02022-11-17T11:40:01-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PETER
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0STRONG
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$836,507
Liabilities
$643,615
Net assets
$192,892
Revenue
$316,238
Expenses
$173,786
Net income
$142,452
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$1.06$0.82$0.23$0.51$0.34$0.18
2022Detailed filing. Detailed filing data is available for this year.$1.77$1.66$0.11$0.22$0.31$0.08
2021Detailed filing. Detailed filing data is available for this year.$0.84$0.64$0.19$0.32$0.17$0.14
2020Detailed filing. Detailed filing data is available for this year.$0.05$0.05$0.12$0.07$0.05