Racing History Preservation Group Inc
- Assets
- $1.1m
- Revenue
- $281.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Loudon, NH
- Founding
- 09/2011
- Data as of
- 12/2021
- EIN
- 45-1292067
Organization Overview
Racing History Preservation Group Inc, operating under the name New England Racing Museum, is located in Loudon, NH. The organization was established in 2011. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New England Racing Museum 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, New England Racing Museum generated $281.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.7%) each year. All expenses for the organization totaled $162.5k during the year ending 12/2021. 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
TO PROMOTE & PRESERVE MOTORSPORTS RACING HISTORY IN THE NORTHEAST AREA FOR THE BENEFIT OF THE PUBLIC, AND TO DEVELOP & HOLD FUNDS TO PROVIDE RESOURCES TO PRESERVE SUCH HISTORY INCLUDING RELATED RECORDS & ARTIFACTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE & PRESERVE MOTORSPORTS RACING HISTORY IN THE NORTHEAST AREA FOR THE BENEFIT OF THE PUBLIC, AND TO DEVELOP & HOLD FUNDS TO PROVIDE RESOURCES TO PRESERVE SUCH HISTORY INCLUDING RELATED RECORDS & ARTIFACTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Netishen Executive Di | OfficerTrustee | 50 | $69,525 |
Robert Bianchi Vice Preside | OfficerTrustee | 20 | $0 |
Richard Berggren President | OfficerTrustee | 50 | $0 |
Andrew Cusack Secretary | OfficerTrustee | 20 | $0 |
Donald Humphrey Jr Treasurer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $20,340 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $170,809 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $191,149 |
| Total Program Service Revenue | $58,236 |
| Investment income | $32,080 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $281,465 |
| 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 | $3,887 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $69,525 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,641 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $756 |
| Advertising and promotion | $9,130 |
| Office expenses | $6,922 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,750 |
| 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 | $22,500 |
| Insurance | $7,316 |
| All other expenses | $4,602 |
| Total functional expenses | $162,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $110,974 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $675,141 |
| Investments—publicly traded securities | $317,174 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,103,289 |
| Accounts payable and accrued expenses | $0 |
| 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 | $1,356 |
| Total liabilities | $1,356 |
| Net assets without donor restrictions | $1,101,933 |
| 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 | $1,103,289 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Racing History Preservation Group Inc has recieved totaling $13,248.
| Awarding Organization | Amount |
|---|---|
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $13,248 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Peabody Essex Museum Inc Salem, MA | $834,878,169 | $57,993,478 |
Naismith Memorial Basketball Hall Of Fame Inc 1150 West Columbus Ave Springfield, MA | $33,159,743 | $5,379,532 |
Shelburne Museum Incorporated Shelburne, VT | $56,455,494 | $11,449,784 |
Trustees Of The Berkshire Museum Pittsfield, MA | $81,632,008 | $9,528,887 |
Uss Constitution Museum Inc Boston, MA | $13,690,451 | $5,109,219 |
Maine Maritime Museum Bath, ME | $19,147,299 | $3,611,205 |
Museum Of Afro American History Inc Boston, MA | $10,612,334 | $1,101,120 |
Uss Massachusetts Memorial Comm Inc Fall River, MA | $12,015,976 | $3,270,153 |
Maine Mineral & Gem Museum Bethel, ME | $14,617,603 | $769,092 |
Lake Champlain Maritime Museum At Basin Harbor Incorporated Vergennes, VT | $5,854,954 | $3,154,369 |
Fuller Craft Museum Inc Brockton, MA | $9,806,445 | $1,524,275 |
Fairbanks Museum And Planetarium St Johnsbury, VT | $8,045,613 | $2,594,399 |