Solar Car Challenge Foundation
- Assets
- $57.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Plano, TX
- Founding
- 03/2011
- Data as of
- 12/2021
- EIN
- 27-4536063
Organization Overview
Solar Car Challenge Foundation is located in Plano, TX. The organization was established in 2011. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Solar Car Challenge Foundation 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 12/2021, Solar Car Challenge Foundation generated $194.4k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $252.7k during the year ending 12/2021. While expenses have increased by 13.9% per year over the past 6 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
(1) THE SOLAR CAR CHALLENGE EDUCATION PROGRAM TAUGHT 6,500 STUDENTS AND TEACHERS HOW TO PLAN, DESIGN, ENGINEER, AND BUILD A ROADWORTHY SOLAR CAR THROUGH IN-PERSON AND VIRTUAL WORKSHOPS. (2) THE SOLAR CAR CHALLENGE FOUNDATION HOSTED A RACING EVENT AT THE TEXAS MOTOR SPEEDWAY THAT ALLOWED STUDENT SOLAR CAR TEAMS FROM AROUND THE COUNTRY TO BOTH DISPLAY AND SAFELY RACE THEIR VEHICLES. FORTY-FIVE TEAMS REGISTERED TO TAKE PART IN THE 2021 EVENT. (3) THE SOLAR CAR CHALLENGE HOSTED MULTIPLE NATIONAL WORKSHOPS TEACHING ENGINEERING AND PROJECT MANAGEMENT TO HIGH SCHOOL STUDENTS. THIS WAS DONE VIRTUALLY TO MINIMIZE COVID EXPOSURE. (4) THE SOLAR CAR CHALLENGE AND PARTICIPATING TEAMS SHARED THEIR PROJECT WITH BOTH ELEMENTARY SCHOOL STUDENTS AND MIDDLE SCHOOL STUDENTS AROUND THE COUNTRY. OUR GOAL IS TO INSPIRE YOUNGSTERS TO GET INVOLVED WITH SCIENCE AND ENGINEERING. (5) THE SOLAR CAR CHALLENGE CONTINUED ITS "CHALLENGE" TO HIGH SCHOOL STUDENTS TO BUILD A VEHICLE, POWER THAT VEHICLE BY THE SUN, AND TO DRIVE THAT VEHICLE AT A WORLD FAMOUS NASCAR TRACE (THE TEXAS MOTOR SPEEDWAY) IN FORT WORTH, TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lehman Marks President | 60 | $0 | |
William Shih Vice-President | 5 | $0 | |
Jarrett Dunn Race Operations | 3 | $0 | |
Chris Jones Chief Race Judge | 2 | $0 | |
Michael Foree Technology | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $156,629 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $37,800 |
| Total Revenue | $194,429 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $11,388 |
| Printing, publications, postage, and shipping | $8,285 |
| Other expenses | $224,040 |
| Total expenses | $252,713 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $57,404 |
| Other assets | $0 |
| Total assets | $57,404 |
| Total liabilities | $0 |
| Net assets or fund balances | $57,404 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Solar Car Challenge Foundation has recieved totaling $68,911.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $20,911 |
Lightner Sams Foundation Inc Wilmington, DE PURPOSE: SUMMER INTERN PROGRAM | $20,000 |
Caraway Family Foundation Wilmington, DE PURPOSE: JULY 2021 SOLAR CAR CHALLENGE COMPETITION | $15,000 |
Lightner Sams Foundation Inc Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $12,000 |
Baker Hughes Foundation Houston, TX PURPOSE: GENERAL SUPPORT | $500 |
Baker Hughes Foundation Houston, TX PURPOSE: GENERAL SUPPORT | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Firstline Schools Inc New Orleans, LA | $25,158,781 | $60,437,770 |
Education Service Center Region Xii Of Texas Waco, TX | $21,686,581 | $37,093,935 |
New Meridian Corporation Austin, TX | $22,335,966 | $20,374,244 |
Belle Chasse Academy Inc Belle Chasse, LA | $29,416,847 | $17,545,847 |
Village Tech Schools Duncanville, TX | $32,290,922 | $14,785,373 |
Bexar County Performing Arts Center Foundation San Antonio, TX | $183,646,136 | $8,087,390 |
Leading Educators Inc New Orleans, LA | $10,160,201 | $9,461,961 |
Hispanic Association Of Colleges And Universities San Antonio, TX | $14,909,180 | $14,551,149 |
Passages America Israel Inc Allen, TX | $8,997,691 | $7,060,714 |
Extend-A-Care Inc Austin, TX | $4,350,683 | $9,102,758 |
Educate Girls Austin, TX | $42,960,470 | $14,126,525 |
Evolution Acadamy Richardson, TX | $15,542,643 | $6,925,248 |