Civic Intelligence

Magpie Creative

990 • Fiscal year 2022 • EIN 83-4658072

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

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

93rd percentile

0.94x

Higher debt load relative to assets than 93% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

7.38x

Higher debt load relative to revenue than 97% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

9th percentile

-38%

Higher net margin than 9% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

54th percentile

$68,727

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 30.6% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

95th percentile

111%

Faster asset growth than 95% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

14th percentile

-29%

Faster revenue growth than 14% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$1,766,143

Up $929,636 (+111%) from 2021

Net Assets

Down

$107,950

Down $84,942 (-44%) from 2021

Liabilities

Up

$1,658,193

Up $1,014,578 (+158%) from 2021

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin9th percentile

Revenue

Down

$224,542

Down $91,696 (-29%) from 2021

Expenses

Up

$309,485

Up $135,699 (+78%) from 2021

Net Income

Down

-$84,943

Down $227,395 (-160%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth95th 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

2022

Assets$1,766,143
Liabilities$1,658,193
Net Assets$107,950
Open 2022 Filing

Operations Trend

Revenue Growth14th 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

2022

Revenue$224,542
Expenses$309,485
Net Income-$84,943
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$224,542
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
Cash and Non-Interest-Bearing Accounts$396,995$1,336,719▲ $939,724
Land, Buildings, and Equipment, Net$439,512$429,424▼ $10,088
Total Assets$836,507$1,766,143▲ $929,636
Liabilities
Other Liabilities$260,167$1,235,267▲ $975,100
Mortgage Notes Payable Secured by Investment Property$381,908$412,450▲ $30,542
Accounts Payable and Accrued Expenses$1,540$10,476▲ $8,936
Total Liabilities$643,615$1,658,193▲ $1,014,578
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$188,892$107,950▼ $80,942
Net Assets With Donor Restrictions$4,000--
Total Net Assets Fund Balance$192,892$107,950▼ $84,942
Total Liabilities and Net Assets / Fund Balance$836,507$1,766,143▲ $929,636

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$352,975$16,084$369,059
Land$68,000-$68,000
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Peter StrongDirectorFT$68,727$68,727
Mary BordeauxCreative DirectorPT$14,538$14,538

Board Members and Trustees

NameTitle
Molina ParkerPresident
Linda AndersonSecretary
Wade PattonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$183,588
Program Service Revenue
$15,393
Investment Income
$0
Other Revenue
$25,561
All Other Contributions
$82,088
Change in Net Assets
$-84,943
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$155,012
Salaries, Compensation, and Employee Benefits$154,473
Total Fundraising Expense$10,196
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$93,722$25,071$6,248$125,041
Fees for Services Other$22,700$2,347$1,200$26,247
Interest$20,005--$20,005
Other Employee Benefits$14,993$3,998$1,000$19,991
Occupancy$10,628$7,815-$18,443
Travel$12,933--$12,933
Depreciation Depletion$7,567$2,018$504$10,089
Payroll Taxes$7,081$1,888$472$9,441
Insurance$5,812$1,550$387$7,749
Other Expenses$3,808$69$385$4,262
Information Technology$1,930$1,137-$3,067
Office Expenses$454$427-$881
Advertising$652$221-$873
Total Functional Expenses$252,437$46,852$10,196$309,485
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
Waterers Trust Account$1,000,000
Rockefeller Trust Account$185,347
Propel Trust Account$49,920
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
2023-11-15
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 XI, Line 9

“Book / tax depreciation difference 1”

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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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OFFICERS ARE NOT COMPENSATED, THE BOARD IS A VOLUNTEER BOARD. NO KEY EMPLOYEES OTHER THAN EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, INCLUDING COPIES OF THE TAX RETURNS, ARE AVAILABLE UPON REQUEST USING THE CONTACT INFORMATION FOUND ON THE WEBSITE FOR THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd057580
ReturnHeader/PreparerPersonGrp/PhoneNum06058421757
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ANNA DESMET
ReturnHeader/ReturnTs02023-11-15T19:20:10-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PETER
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0STRONG
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,766,143
Liabilities
$1,658,193
Net assets
$107,950
Revenue
$224,542
Expenses
$309,485
Net income
-$84,943
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