Music City Quarter Midget Racing Association
- Assets
- $25.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Hermitage, TN
- Founding
- 03/2004
- Data as of
- 12/2019
- EIN
- 61-1425553
Organization Overview
Music City Quarter Midget Racing Association is located in Hermitage, TN. The organization was established in 2004. 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. Music City 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 12/2019, Music City Quarter Midget Racing Association generated $22.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (18.6%) each year. All expenses for the organization totaled $44.1k during the year ending 12/2019. 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
2019
Describe the Organization's Program Activity:
Part 3
HOSTED NUMEROUS AMATEUR RACES WITH 10-60 CHILDREN IN EACH RACE TO EDUCATE AND TRAIN THEM IN SPORTSMANSHIP, CONFIDENCE, AND PREPARATION FOR NATIONAL EVENTS. ALL CHILDREN WERE PRESENTED WITH AWARDS FOR PARTICIPATING IN EVERY EVENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chuck Lockhart Treasurer | 10 | $0 | |
Lori James President | 10 | $0 | |
Mike Crafton Vice Preside | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,275 |
| Total Program Service Revenue | $12,119 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $22,394 |
| 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 | $1,449 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $42,647 |
| Total expenses | $44,096 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $24,912 |
| Other assets | $0 |
| Total assets | $25,249 |
| Total liabilities | $0 |
| Net assets or fund balances | $25,249 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hermitage Country Club Inc Manakinsabot, VA | $22,972,475 | $8,736,242 |
International Town-Country Club Inc Fairfax, VA | $30,278,923 | $13,361,224 |
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Mid-Eastern Athletic Conference Norfolk, VA | $5,958,489 | $11,151,768 |
Arkansas State University Red Wolves Foundation Inc State University, AR | $49,039,332 | $6,488,806 |
Atlanta Country Club Inc Marietta, GA | $25,768,489 | $8,068,669 |
Old Warson Country Club St Louis, MO | $23,490,544 | $9,066,776 |
Athens Country Club Inc Athens, GA | $21,763,288 | $8,069,383 |
Shoal Creek Shoal Creek, AL | $12,950,565 | $9,210,708 |
Cherokee Country Club Knoxville, TN | $33,935,565 | $11,523,295 |
Princess Anne Country Club Inc Virginia Beach, VA | $27,152,387 | $11,095,440 |
Chattanooga Golf And Country Club Chattanooga, TN | $23,843,931 | $15,215,377 |