Minnesota Quarter Midget Racing Association
- Assets
- $53.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Elko New Market, MN
- Founding
- 04/1993
- Data as of
- 12/2022
- EIN
- 47-5301072
Organization Overview
Minnesota Quarter Midget Racing Association is located in Elko New Market, MN. The organization was established in 1993. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Quarter Midget Racing Association 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 12/2022, Minnesota Quarter Midget Racing Association generated $62.4k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 34.2% each year . All expenses for the organization totaled $32.0k during the year ending 12/2022. While expenses have increased by 1.4% per year over the past 2 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
PROVIDE A YOUTH RACING PLATFORM FOR YOUTH
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Rose President | 5 | $0 | |
Jon Olson President | 3 | $0 | |
Katie Olson Treasurer | 3 | $0 | |
Jessica Fredrickson Secretary | 1 | $0 | |
Rookie Coordinator David Fredrickson | 1 | $0 | |
Katrina Larson Marketing And Pr | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,906 |
| Total Program Service Revenue | $21,931 |
| Membership dues | $6,200 |
| Investment income | $21 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $62,401 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $650 |
| Occupancy, rent, utilities, and maintenance | $5,325 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $26,020 |
| Total expenses | $31,995 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $53,706 |
| Other assets | $0 |
| Total assets | $53,706 |
| Total liabilities | $0 |
| Net assets or fund balances | $53,706 |