Indianapolis Motor Speedway Foundation Inc
- Assets
- $7.1m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 99
- Location
- Indianapolis, IN
- Founding
- 10/1959
- Data as of
- 12/2020
- EIN
- 35-6013771
Organization Overview
Indianapolis Motor Speedway Foundation Inc is located in Indianapolis, IN. The organization was established in 1959. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Indianapolis Motor Speedway Foundation Inc employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indianapolis Motor Speedway 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 12/2020, Indianapolis Motor Speedway Foundation Inc generated $4.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $3.5m during the year ending 12/2020. While expenses have increased by 12.2% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE INDIANAPOLIS MOTOR SPEEDWAY MUSEUM CELEBRATES MORE THAN A CENTURY OF THE INNOVATION, THRILL, AND CULTURAL SIGNIFICANCE OF MOTOR RACING AT THE INDIANAPOLIS MOTOR SPEEDW
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INDIANAPOLIS MOTOR SPEEDWAY FOUNDATION, INC. OPERATES A MUSEUM AND GUIDED TOURS THAT ARE OPEN TO THE GENERAL PUBLIC. THE MUSEUM INCLUDES EXHIBITS RELATED TO ANTIQUE AUTOMOBILES, THE INTERNATIONAL SPORT OF AUTO RACING AND THE HISTORY THEREOF. THE GUIDED BUS TOURS PROVIDE ACCESS TO BEHIND THE SCENE AREAS AT THE INDIANAPOLIS MOTOR SPEEDWAY. IN ADDITION, THE MUSEUM PROVIDES FREE ADMISSION TO EDUCATIONAL PROGRAMS FOR FOURTH GRADERS TO COINCIDE WITH INDIANA'S FOURTH GRADE FOCUS ON STATE HISTORY, SERVING MORE THAN 11,711 STUDENTS. THE MUSEUM ALSO CONDUCTS A SCHOOL DAY PROGRAM EACH MAY FOR FIVE PRACTICE DAYS FOR THE INDIANAPOLIS 500 MILE RACE. 3,025 STUDENTS PARTICIPATED IN 2019 AND 0 IN 2020 / 2021
RESTORATION TO PRESERVE EDUCATE AND CELEBRATE RACING HISTORY THROUGH ITEMS THAT ARE ON DISPLAY OR PARTICIPATE IN RACING CEREMONIES
THE DISTINGUISHED SPEAKER SERIES AND FUEL UP FRIDAYS INFORM, EDUCATE AND ENTERTAIN RACING ENTHUSIASTS THROUGH STORY-TELLING BY AND DISCUSSIONS WITH ICONIC RACING PERSONALITIES. DUE TO PANDEMIC RESTRICTIONS NO SPEAKER SERIES EVENTS WERE HELD IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Joseph Hale Jr President | Officer | 40 | $340,750 |
Constance Lund Treasurer And Director | OfficerTrustee | 2 | $0 |
Jeffrey B Smith Secretary And Director | OfficerTrustee | 0.5 | $0 |
Robert R Dyson Chair And Director | OfficerTrustee | 0.5 | $0 |
Gene Perkins Director | Trustee | 0.5 | $0 |
Fred J Nation Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Indianapolis Motor Speedway Llc Prof & Managerial | 12/30/16 | $1,570,890 |
Wilhelm Corp Construction Construction | 12/30/16 | $241,341 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $99,010 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,844,048 |
| Noncash contributions included in lines 1a–1f | $652,105 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,943,058 |
| Total Program Service Revenue | $604,761 |
| Investment income | $88,150 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,414 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,043,586 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $26,366 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,708,335 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| 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. | $105,000 |
| Compensation of current officers, directors, key employees. | $57,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,259,409 |
| Pension plan accruals and contributions | $49,253 |
| Other employee benefits | $223,009 |
| Payroll taxes | $106,126 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,801 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,469 |
| Fees for services: Other | $195,576 |
| Advertising and promotion | $32,987 |
| Office expenses | $58,861 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,000,367 |
| Travel | $7,292 |
| 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 | $75,685 |
| Insurance | $102,984 |
| All other expenses | $0 |
| Total functional expenses | $3,509,095 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,903,417 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $773,000 |
| Accounts receivable, net | $44,215 |
| 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 | $86,822 |
| Net Land, buildings, and equipment | $744,818 |
| Investments—publicly traded securities | $3,580,512 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,132,784 |
| Accounts payable and accrued expenses | $200,540 |
| Grants payable | $0 |
| Deferred revenue | $27,589 |
| 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 | $4,789 |
| Total liabilities | $232,918 |
| Net assets without donor restrictions | $5,717,378 |
| Net assets with donor restrictions | $1,182,488 |
| 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 | $7,132,784 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Indianapolis Motor Speedway Foundation Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Hulman & Company Foundation Inc Terre Haute, IN PURPOSE: GENERAL OPERATING EXPENSES | $25,000 |
Endowment Analysis
| Beg. Balance | $1,473,754 |
| Earnings | $496,852 |
| Admin Expense | $15,333 |
| Net Contributions | $1,464,833 |
| Ending Balance | $3,420,106 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ed Uihlein Family Foundation Lake Forest, IL | $7,123,989 | $4,757,675 |
Joseph L & Sarah S Marcum Foundation Chicago, IL | $0 | $6,419,437 |
Kraft Heinz Company Foundation Chicago, IL | $398,764 | $8,002,636 |
State Farm Companies Foundation Bloomington, IL | $9,666,483 | $1,134 |
Bayer Fund St Louis, MO | $65,640,119 | $9,167,249 |
Marie C & Joseph C Wilson Foundation Chicago, IL | $0 | $53,412 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
Alphawood Foundation Chicago, IL | $96,386,448 | $15,256,055 |
Steans Family Foundation Chicago, IL | $0 | $20,140,801 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Roger And Susan Stone Family Foundation Northbrook, IL | $23,476,805 | $8,385,528 |
Galashiels Fund Ltd Northbrook, IL | $154,593,436 | $48,314,988 |