J&a Racing Foundation Inc
- Assets
- $3.1k
- Revenue
- $2.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 02/2015
- Data as of
- 12/2021
- EIN
- 47-2437738
Organization Overview
J&a Racing Foundation Inc is located in Virginia Beach, VA. The organization was established in 2015. According to its NTEE Classification (W12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. J&a Racing 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, J&a Racing Foundation Inc generated $2.5k 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 (43.2%) each year. All expenses for the organization totaled $4.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, J&a Racing Foundation Inc has awarded 59 individual grants totaling $217,671. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
CORPORATION PROVIDES CHARITABLE ASSISTANCE TO MEET THE NEEDS OF UNDERPRIVILEGED CHILDREN IN THE HAMPTON ROADS AREA; SUPPORTS ORGANIZATIONS FUNDING RESEARCH AND PREVENTION FOR DISEASES SUCH AS CANCER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Frostick Director | 0.5 | $0 | |
Jerry Frostick Director | 0.5 | $0 | |
Ryan Conrad Director | 0.5 | $0 | |
Lori Cooper Director | 0.5 | $0 | |
Kate Napolitano VP Of Marketing | 0.5 | $0 | |
Heather Pearl Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,500 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,500 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $1,775 |
| Contributions, gifts, grants paid | $3,030 |
| Total expenses and disbursements | $4,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,065 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,065 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, J&a Racing Foundation Inc has awarded $29,916 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
Virginia Beach, VA PURPOSE: SUPPORT VOLUNTEER EFFORTS AT WE PROMISE FOUNDATION | $5,000 |
Virginia Beach, VA PURPOSE: SUPPORT VOLUNTEER EFFORTS AT WE PROMISE FOUNDATION | $5,000 |
Virginia Beach, VA PURPOSE: TO SUPPORT ANIMALS AND ELIMINATE THEIR SUFFERING | $2,795 |
Virginia Beach, VA PURPOSE: TO SUPPORT ANIMALS AND ELIMINATE THEIR SUFFERING | $2,795 |
MAKAYLA HARVEY PURPOSE: A SCHOLARSHIP GIVEN TO A SENIOR THAT IS A SON OR DAUGHTER OF A LAW ENFORCEMENT EMPLOYEE. | $2,500 |
ACCESS COLLEGE FOUNDATION PURPOSE: HELPING CHILDREN OF SOUTH HAMPTON ROADS PUBLIC SCHOOLS GO TO COLLEGE | $2,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that J&a Racing Foundation Inc has recieved totaling $12,500.
| Awarding Organization | Amount |
|---|---|
Coliseum Central Business Improvement District Inc Hampton, VA PURPOSE: EVENT SPONSOR | $10,000 |
Vandeventer Black Foundation Inc Norfolk, VA PURPOSE: SHAMROCK - YFI SCHOOL PROGRAM | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pt Fund Inc Washington, DC | $1,857,256 | $2,899,847 |
Centerstone Military Services Inc Nashville, TN | $1,764,392 | $3,661,896 |
Christopher Coffland Memorial Fund Inc Timonium, MD | $647,690 | $1,477,090 |
Kids Cancer Alliance Inc Louisville, KY | $1,595,560 | $1,331,527 |
Neal C Nichols Foundation Inc Falls Church, VA | $11,503,189 | $4,263,085 |
Bowlers To Veterans Link Inc Fairfax, VA | $2,168,201 | $1,273,730 |
Rouben And Violet Jiji Foundation Towson, MD | $13,701,428 | $480,892 |
America Salutes You Llc Mclean, VA | $198,314 | $662,144 |
Coalfield Water Development Fun Inc Coeburn, VA | $20,428,381 | $814,226 |
Warrior Reunion Foundation Cockeysville, MD | $331,681 | $550,232 |
Jason And Adriana West Foundation Cary, NC | $5,027,452 | $160,716 |
Cleveland High School Band Parents Association Garner, NC | $80,928 | $387,764 |