Caribbean Drag Racing Association Inc
- Assets
- $682.8k
- Revenue
- $686.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Christiansted, VI
- Founding
- Data as of
- 06/2022
- EIN
- 66-0824289
Organization Overview
Caribbean Drag Racing Association Inc is located in Christiansted, VI. 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. Caribbean Drag Racing Association 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 06/2022, Caribbean Drag Racing Association Inc generated $686.2k in total revenue. All expenses for the organization totaled $30.3k during the year ending 06/2022. While expenses have increased by 72.3% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE SAFE AND STRUCTURED DRAG RACING IN THE US VIRGIN ISLANDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE SAFE AND STRUCTURED DRAG RACING IN THE US VIRGIN ISLANDS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ramon Cuencas Treasurer | Officer | 0 | $0 |
Larry Jones Vice President | Officer | 0 | $0 |
Arthur S Hector Sr President | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $675,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,538 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $686,038 |
| Total Program Service Revenue | $0 |
| Investment income | $207 |
| 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 | $686,245 |
| 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 | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $182 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $5,708 |
| Insurance | $4,706 |
| All other expenses | $0 |
| Total functional expenses | $30,287 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $203,507 |
| 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 | $479,276 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $682,783 |
| 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 |
| Total liabilities | $1 |
| Net assets without donor restrictions | $682,782 |
| 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 | $682,783 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Usvi Soccer Federation Inc Kingshill, VI | $4,443,277 | $2,259,905 |
Virgin Islands Olympic Committee Inc St Croix, VI | $0 | $1,448,012 |
Project Shine Inc St Thomas, VI | $11,955 | $374,675 |
St Thomas Swimming Association Inc St Thomas, VI | $724,187 | $349,037 |
St Croix Swimming Association Kingshill, VI | $285,074 | $234,549 |
St Croix Education Initiative Inc Kingshill, VI | $219,892 | $393,114 |