National Sprint Car Hall Of Fame & Museum Foundation Inc
- Assets
- $7.8m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 27
- Location
- Knoxville, IA
- Founding
- 09/1987
- Data as of
- 09/2021
- EIN
- 42-1276468
Organization Overview
National Sprint Car Hall Of Fame & Museum Foundation Inc is located in Knoxville, IA. The organization was established in 1987. 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 09/2023, National Sprint Car Hall Of Fame & Museum Foundation Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Sprint Car Hall Of Fame & Museum 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 09/2021, National Sprint Car Hall Of Fame & Museum Foundation Inc generated $2.5m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $1.0m during the year ending 09/2021. 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
PRESERVING OPEN WHEEL RACING
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING MEMBERSHIPS TO OUR ORGANIZATION, PRESENTING AWARDS, BANQUETS, AND HALL OF FAME CEREMONIES, MAINTAINING A MUSEUM SHOWING THE HISTORY OF THE SPORT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Baker Executive Di | Trustee | 40 | $105,749 |
Kelly Behnken Board Member | Trustee | 1 | $0 |
Misha Geisert Board Member | Trustee | 1 | $0 |
David Goodson Board Member | Trustee | 1 | $0 |
Frank Jorgensen Board Member | Trustee | 1 | $0 |
Archie Kuntz Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,470,080 |
| Investment income | $10,783 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $75,730 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $570,816 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $89,608 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,501,286 |
| Statement of Expenses | |
|---|---|
| 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. | $94,999 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $314,941 |
| Pension plan accruals and contributions | $8,100 |
| Other employee benefits | $56,549 |
| Payroll taxes | $33,163 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,935 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $62,276 |
| Office expenses | $16,961 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,059 |
| Travel | $30,602 |
| 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 | $118,364 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,035,045 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,275 |
| Savings and temporary cash investments | $344,246 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,761 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $127,820 |
| Prepaid expenses and deferred charges | $45,845 |
| Investments—publicly traded securities | $787,888 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $724,000 |
| Total assets | $7,797,948 |
| Accounts payable and accrued expenses | $32,119 |
| Grants payable | $0 |
| Deferred revenue | $35,709 |
| 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 | $364,228 |
| Total liabilities | $432,056 |
| Net assets without donor restrictions | $7,365,892 |
| 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 |
| Total liabilities and net assets/fund balances | $7,365,892 |