Motorsports Museum & Hall Of Fame Of America Foundation Inc
- Assets
- $2.7m
- Revenue
- $975.5k
- Investments
- $0.0
- Employees
- 13
- Location
- Daytona Beach, FL
- Founding
- 08/1988
- Data as of
- 12/2021
- EIN
- 38-2779981
Organization Overview
Motorsports Museum & Hall Of Fame Of America Foundation Inc is located in Daytona Beach, FL. The organization was established in 1988. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Motorsports Museum & Hall Of Fame Of America Foundation Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Motorsports Museum & Hall Of Fame Of America 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 12/2021, Motorsports Museum & Hall Of Fame Of America Foundation Inc generated $975.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $826.0k during the year ending 12/2021. While expenses have increased by 12.9% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER KNOWLEDGE ABOUT MOTORSPORTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDUCTION--PROGRAM TO ELECT AND INDUCT PEOPLE INTO THE MOTORSPORTS HALL OF FAME.
MUSEUM-THIS IS THE COST TO OPEN AND MAINTAIN THE SPACE WHERE ITEMS ARE ON DISPLAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Levy President | OfficerTrustee | 40 | $100,000 |
Donna Sprague Vice Preside | OfficerTrustee | 40 | $50,000 |
Ross Hotz Treasurer | OfficerTrustee | $0 | |
Mark Moskowitz Vice Chairma | OfficerTrustee | $0 | |
Adam Saal Secretary | OfficerTrustee | $0 | |
Scott Atherton Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $100,059 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $397,775 |
| Noncash contributions included in lines 1a–1f | $105,200 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $497,834 |
| Total Program Service Revenue | $288,351 |
| Investment income | $133,057 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $56,244 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $975,486 |
| 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. | $150,000 |
| Compensation of current officers, directors, key employees. | $15,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $169,542 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,616 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,380 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $110 |
| Office expenses | $5,438 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $96,806 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $90 |
| Interest | $717 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,674 |
| Insurance | $17,048 |
| All other expenses | $53,037 |
| Total functional expenses | $826,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,195 |
| Savings and temporary cash investments | $60,912 |
| 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 | $446,045 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,616,360 |
| Investments—publicly traded securities | $539,172 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,733,684 |
| Accounts payable and accrued expenses | $50,732 |
| 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 | $50,732 |
| Net assets without donor restrictions | $0 |
| 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 | $2,682,952 |
| Total liabilities and net assets/fund balances | $2,733,684 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Motorsports Museum & Hall Of Fame Of America Foundation Inc has recieved totaling $11,519.
| Awarding Organization | Amount |
|---|---|
Jeep Beach Inc Ormond Beach, FL PURPOSE: GENERAL SUPPORT | $7,500 |
Scott And Nancy Atherton Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $4,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $19 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Palm Beach Maritime Museum Inc Lantana, FL | $20,865,906 | $12,542,003 |
Barber Vintage Motorsports Museum Birmingham, AL | $96,854,317 | $20,184,084 |
National Center For Civil And Humanrights Inc Atlanta, GA | $28,909,465 | $12,210,926 |
Atlanta Hall Management Inc Atlanta, GA | $34,614,233 | $3,372,998 |
Naval Aviation Museum Foundation Inc Pensacola, FL | $33,055,724 | $12,296,659 |
Cook Museum Of Natural Science Decatur, AL | $31,863,685 | $9,083,410 |
Sun N Fun Fly In Inc Lakeland, FL | $10,303,437 | $7,398,461 |
Museum Of Science & History Of Jacksonville Inc Jacksonville, FL | $14,983,828 | $9,624,822 |
Museum Of Arts & Sciences Daytona Beach, FL | $83,635,410 | $4,243,163 |
Georgia Museums Inc Cartersville, GA | $34,504,271 | $6,701,117 |
Museum Of Science And Industry Inc Tampa, FL | $2,652,725 | $2,773,775 |
Museum Of Aviation At Robins Air Force Base Georgia Foundation Inc Warner Robins, GA | $2,983,793 | $2,917,153 |