Speedway Trails Association
- Assets
- $5.9m
- Revenue
- $120.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- 02/2009
- Data as of
- 12/2023
- EIN
- 26-1080365
Organization Overview
Speedway Trails Association is located in Indianapolis, IN. The organization was established in 2009. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood 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. Speedway Trails Association 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 12/2023, Speedway Trails Association generated $120.7k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 18.6% each year . All expenses for the organization totaled $100.3k during the year ending 12/2023. While expenses have increased by 15.4% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE & CONSTRUCT WALKING TRAILS IN INDIANA
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPEEDWAY TRAILS ASSOCIATION UNDERTOOK THE INITIATIVE TO EXPAND B&O RAIL-TRAIL WITHIN MARION COUNTY, IN. BUILDING WEST FROM MICHIGAN ST IN THE CITY OF INDIANAPOLIS TOWARDS THE HENDRICKS COUNTY LINE, 2.6-MILES OF ASPHALT HAVE BEEN ADDED TO THE TRAIL, ALONG WITH A BRIDGE OF APPROXIMATELY 100 METERS ACROSS EAGLE CREEK. KEY PARTNERS IN THE PROJECT INCLUDE CENTRAL INDIANA COMMUNITY FOUNDATION, TOWN OF SPEEDWAY, INDIANAPOLIS PARKS FOUNDATION, ALLISON TRANSMISSION, WILCOX ENVIRONMENTAL ENGINEERING, & ESKANAZI HEALTH. REFER TO PART-III OF FORM 990 FOR ADDITIONAL INFORMATION. THROUGH 2023, $527,359 HAS BEEN SPENT ON LAND ACQUISITION FOR THE PROJECT. ADDITIONAL COSTS OF $5,274,475 HAS BEEN SPENT ON THE DESIGN & ENGINEERING, MANAGEMENT, & CONSTRUCTION OF THE TRAIL EXTENSION. SPEEDWAY TRAILS ASSOCIATION HAS BEEN AWARDED A GRANT OF $4,893,470 FROM STATE OF INDIANA'S NEXT LEVEL TRAILS PROGRAM AS PRIMARY FUNDING FOR THE PROJECT.
SPEEDWAY TRAILS ASSOCIATION MAINTAINS TRAILS IN THE GENERAL VICINITY OF TOWN OF SPEEDWAY, IN. ASSOCIATION OWNS LAND OF FORMER PEORIA & EASTERN RAILROAD RIGHT-OF-WAY WHICH HAS BEEN REBUILT AS APPROXIMATELY 1-MILE OF ASPHALT TRAIL. EXPENSES WERE INCURRED TO MAINTAIN THE TRAIL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Merrit President | Officer | 2 | $0 |
Beverly Katterhenry Vice President | Officer | 20 | $0 |
David Santelik Treasruer | Officer | 1 | $0 |
Michelle Lowry Secretary | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Beaty Construction Inc Trail Construction | 12/30/22 | $3,071,007 |
Infrastructure Engineering Inc Trail Design | 12/30/22 | $246,542 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,200 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,273 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $52,473 |
| Total Program Service Revenue | $0 |
| Investment income | $11,507 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $56,749 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $120,729 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,306 |
| Office expenses | $220 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,059 |
| All other expenses | $0 |
| Total functional expenses | $100,320 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,108 |
| Savings and temporary cash investments | $286,613 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,482,578 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,935,299 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $135,208 |
| Net assets with donor restrictions | $5,800,091 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,935,299 |