International Soap Box Derby Inc
- Assets
- $2.8m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 15
- Location
- Akron, OH
- Founding
- 11/2000
- Data as of
- 09/2022
- EIN
- 34-1141558
Organization Overview
International Soap Box Derby Inc is located in Akron, OH. The organization was established in 2000. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 09/2022, International Soap Box Derby Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Soap Box Derby 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 09/2022, International Soap Box Derby Inc generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.4m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE INTERNATIONAL SOAP BOX DERBY IS A NON-PROFIT YOUTH EDUCATION AND LEADERSHIP DEVELOPMENT ORGANIZATION WHOSE MISSION IS TO BUILD KNOWLEDGE AND CHARACTER, AND TO CREATE MEANINGFUL EXPERIENCES THROUGH FAIR AND HONEST RACING COMPETITIONS, STEM CURRICULUMS, AND OTHER COMMUNITY-FOCUSED ACTIVITIES. OUR CORE VALUES INCLUDE YOUTH EDUCATION AND LEADERSHIP DEVELOPMENT; FAMILY ENGAGEMENT AND ENRICHMENT; HONESTY, INTEGRITY AND PERSEVERANCE; INNOVATION AND ENTREPRENEURSHIP; TEAMWORK AND COLLABORATION; MENTORING; VOLUNTEERISM; AND COMMITMENT TO COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INTERNATIONAL SOAP BOX DERBY, THRU NUMEROUS LOCAL CITY AND RALLY RACES RUN THROUGHOUT THE UNITED STATES AND THE WORLD AND VIA THE ANNUAL ALL-AMERICAN RACE IN AKRON, OHIO SERVE AN ESTIMATED 7,500 CHILDREN AND ADULTS. THIS RESULTS IN FAMILIES SPENDING HOURS TOGETHER IN PREPARATION, BUILDING, AND RACING THESE GRAVITY-POWERED CARS.
NEARLY 800 SCHOOLS AND 30,000 STUDENTS PARTICIPATED IN THE DERBY'S STEM BASED EDUCATION PROGRAM. THE PROGRAM USES THE TOOLS AND VALUES OF SOAP BOX DERBY EDUCATION PROGRAM IS DESIGNED TO PROVIDE K-12 EDUCATORS AND STUDENTS WITH THE PROJECT AND STANDARDS-BASED, INTER-CURRICULAR LEARNING OPPORTUNITIES FOR STUDENTS AND EDUCATORS TO BECOME ENGAGED IN AN ACTIVITY THAT IS GRAVITY POWERED AND STEM DRIVEN! THE CULMINATING ACTIVITY OF THE PROGRAM IS A OUTING TO THE HISTORY DERBY DOWNS WHERE FIFTH AND SIXTH GRADE STUDENTS SPEND 90 MINUTES ENGAGING IN LEARNING ACTIVITIES THAT ENFORCE THE PRINCIPLES OF PHYSICS, PROVIDE OPPORTUNITIES FOR CREATIVITY, AND ENCOURAGE TEAMWORK AND COLLABORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bret Treier Chairman | OfficerTrustee | 2 | $0 |
Nate Sargent Vice Chairman | OfficerTrustee | 2 | $0 |
Ollie Pannell Treasurer | OfficerTrustee | 2 | $0 |
Patricia Roy Secretary | OfficerTrustee | 2 | $0 |
Bethany Lawrence Director | Trustee | 2 | $0 |
Ej Brinson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $490 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $285,498 |
| All other contributions, gifts, grants, and similar amounts not included above | $649,316 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $935,304 |
| Total Program Service Revenue | $321,737 |
| Investment income | $15,725 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$88 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $217,721 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,518,740 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $36,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $132,766 |
| Compensation of current officers, directors, key employees. | $86,298 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $330,501 |
| Pension plan accruals and contributions | $3,000 |
| Other employee benefits | $62,342 |
| Payroll taxes | $33,692 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,074 |
| Fees for services: Accounting | $12,588 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,016 |
| Fees for services: Other | $92,873 |
| Advertising and promotion | $25,706 |
| Office expenses | $34,912 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,588 |
| Travel | $8,463 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,044 |
| Interest | $12,719 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $86,945 |
| Insurance | $101,577 |
| All other expenses | $19,681 |
| Total functional expenses | $1,381,232 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $271,584 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $102,342 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $173,271 |
| Inventories for sale or use | $259,092 |
| Prepaid expenses and deferred charges | $18,498 |
| Net Land, buildings, and equipment | $1,786,382 |
| Investments—publicly traded securities | $232,030 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,843,199 |
| Accounts payable and accrued expenses | $96,276 |
| Grants payable | $257,111 |
| Deferred revenue | $66,577 |
| 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 | $83,042 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $503,006 |
| Net assets without donor restrictions | $2,340,193 |
| Net assets with donor restrictions | $0 |
| 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 | $2,843,199 |