Checkered Flag Committee Inc
- Assets
- $229.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Daytona Beach, FL
- Founding
- 01/1999
- Data as of
- 12/2021
- EIN
- 59-3169440
Organization Overview
Checkered Flag Committee Inc is located in Daytona Beach, FL. The organization was established in 1999. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Checkered Flag Committee Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Checkered Flag Committee Inc generated $21.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (32.9%) each year. All expenses for the organization totaled $44.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (25.1%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO AID AND ASSIST IN PROMOTING BUSINESS INTEREST AND ECONOMIC GROWTH OF MOTORSPORTS ENTERTAINMENT AND INDUSTRY ACTIVITIES, AND EDUCATING THE PUBLIC ON THE ECONOMIC BENEFITS OF SUCH ACTIVITIES AND OTHER RELATED SPORTING EVENTS HELD IN VOLUSIA COUNTY, FLORIDA.
Describe the Organization's Program Activity:
Part 3
AID AND ASSIST PROMOTION OF INTEREST AND GROWTH OF MOTORSPORTS ACTIVITIES, EDUCATE PUBLIC ON BENEFITS OF THESE AND OTHER RELATED ACTIVITIES.
THE ORGANIZATION MADE GRANTS TO LOCAL COMMUNITY ORGANIZATIONS THAT WERE QUALIFIED IRC SECTION 501(C)(3) ORGANIZATIONS. THE FUNDS WERE GRANTED WITH AN EMPHASIS ON EARMARKED PROJECTS VERSUS GENERAL OPERATING FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Reece Director | 1 | $0 | |
Rufus Johnson Director | 1 | $0 | |
Dave Freer Director | 1 | $0 | |
Michael Sznapstajler Director | 1 | $0 | |
Joe Cameron Director | 1 | $0 | |
Tim Huth Chairman | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $16,407 |
| Gain or Loss | $4,793 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $21,200 |
| 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 | $5,275 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $3,310 |
| Total expenses | $44,585 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $9,853 |
| Other assets | $0 |
| Total assets | $229,140 |
| Total liabilities | $0 |
| Net assets or fund balances | $229,140 |
Grants Awarded
Over the last fiscal year, Checkered Flag Committee Inc has awarded $25,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Daytona Beach, FL PURPOSE: SUPPORT MUSEUM ENDOWMENT AND PROVIDE COMMUNITY SUPPORT FOR THE MUSEUM'S ACTIVITIES, MAINTENANCE, AND DAILY OPERATIONS. | $10,000 |
Daytona Beach, FL PURPOSE: RAISE FUNDS AND INCREASE VOLUNTEERISM TO SUPPORT CHARITABLE CAUSES | $5,000 |
Daytona Beach, FL PURPOSE: RAISE FUNDS FOR RECOGNITION OF SPEEDIATRICS PROGRAM AND ALLOW HALIFAX HEALTH TO CONTINUE TO SERVE THE COMMUNITY. | $5,000 |
THE CITY OF DAYTONA BEACH PURPOSE: RAISE FUNDS FOR LOCAL COMMUNITY IMPROVEMENT. | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Corenet Global Inc Atlanta, GA | $22,405,208 | $10,074,155 |
Visit Pensacola Inc Pensacola, FL | $2,535,965 | $7,930,486 |
Allinial Global Lawrenceville, GA | $3,508,006 | $7,173,344 |
The Florida Restaurant & Lodging Association Inc Tallahassee, FL | $14,927,226 | $6,472,755 |
Florida Sugar Cane League Inc Clewiston, FL | $7,160,509 | $7,506,531 |
Georgia Chamber Of Commerce Inc Atlanta, GA | $7,473,907 | $7,231,952 |
American Accounting Association Lakewood Ranch, FL | $12,441,964 | $7,536,784 |
Ims Global Learning Consortium Inc Lake Mary, FL | $12,539,659 | $7,120,866 |
Southern Pine Inspection Bureau Pensacola, FL | $6,165,981 | $6,410,663 |
Georgia Society Of Certified Public Accountants Inc Atlanta, GA | $8,640,811 | $5,890,900 |
Montgomery Area Chamber Of Commerce Montgomery, AL | $3,766,840 | $6,554,835 |
Carpet & Rug Institute Inc Dalton, GA | $7,916,112 | $6,354,333 |