North Carolina Motorsports Foundation Inc
- Assets
- $52.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Concord, NC
- Founding
- 03/2004
- Data as of
- 06/2024
- EIN
- 20-0333635
Organization Overview
North Carolina Motorsports Foundation Inc is located in Concord, NC. The organization was established in 2004. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Motorsports Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, North Carolina Motorsports Foundation Inc generated $29.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.3%) each year. All expenses for the organization totaled $32.9k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (7.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3
WORKING WITH INDIVIDUALS AND ORGANIZATIONS INVOLVED IN THE MOTORSPORT INDUSTRY IN NORTH CAROLINA WHO HAVE AN INTEREST IN BENEFITTING OTHER CHARITABLE ORGANIZATIONS AND IMPROVING ECONOMIC DEVELOPMENT IN NORTH CAROLINA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Walter Chairman | 1 | $0 | |
Scott Lampe Vice-Chairma | 1 | $0 | |
Dave Morton Treasurer | 1 | $0 | |
Wendy Stallings Secretary | 1 | $0 | |
Greta Ray Anderson Board Member | 1 | $0 | |
Brad Bostic Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $32,540 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | -$3,200 |
| Other Revenue | $0 |
| Total Revenue | $29,340 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $18,000 |
| Professional fees and other payments to independent contractors | $1,000 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $6,364 |
| Total expenses | $32,864 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $52,602 |
| Other assets | $0 |
| Total assets | $52,602 |
| Total liabilities | $360 |
| Net assets or fund balances | $52,242 |