Foxfield Racing Llc
- Assets
- $988.0k
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 4
- Location
- Charlottesville, VA
- Founding
- 01/2018
- Data as of
- 12/2022
- EIN
- 81-5011713
Organization Overview
Foxfield Racing Llc, operating under the name Save Foxfield Races, is located in Charlottesville, VA. The organization was established in 2018. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Save Foxfield Races employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Save Foxfield Races 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, Save Foxfield Races generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 37.5% each year . All expenses for the organization totaled $1.4m during the year ending 12/2022. While expenses have increased by 33.0% per year over the past 6 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
FOSTER CONSERVATION OF OPEN SPACE USING STEEPLECHASE RACING TO SUPPORT LOCAL PHILANTHROPY
Describe the Organization's Program Activity:
Part 3 - Line 4a
ESTABLISH AND SUPPORT A LONG-TERM PHILANTHROPIC PARTNERSHIP: GARTH ROAD PRESERVATION SUPPORTED CAMP HOLIDAY TRAILS WITH A $53,000 CASH DONATION AND HABITAT FOR HUMANITY WITH A $50,000 CASH DONATION AND HELPED SPREAD THE MISSIONS OF BOTH TO THE FOXFIELD COMMUNITY.
RUN THE SPRING AND FALL FOXFIELD RACES IN LINE WITH THE STEEPLECHASE TRADITION IN ALBEMARLE COUNTY. THE SUCCESSFUL RACES ARE REQUIRED WITHIN THE AGREEMENT TO MAINTAIN THE OPEN SPACE AND SUPPORT THE PHILANTHROPIC AIMS OF THE ORGANIZATION.
IMPROVE, MAINTAIN AND CONSERVE THE FOXFIELD PROPERTY AND ITS OPEN SPACE. AN IRRIGATION SYSTEM WAS INSTALLED, AND THE PROPERTY HOSTED SEVERAL COMMUNITY EVENTS IN ACCORDANCE WITH THE EASEMENT AND IN LINE WITH THE MISSION TO GIVE BACK TO THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John G Macfarlane III President | OfficerTrustee | 1 | $0 |
Landon Hilliard Director | Trustee | 1 | $0 |
Harry Burn Treasurer | OfficerTrustee | 1 | $0 |
Kelsey Cox Executive Director | Officer | 45 | $87,118 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $599,023 |
| Noncash contributions included in lines 1a–1f | $5,234 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $599,023 |
| Total Program Service Revenue | $1,114,459 |
| Investment income | $800 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,700 |
| 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 | $20,592 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,753,574 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $102,629 |
| 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. | $87,119 |
| Compensation of current officers, directors, key employees. | $13,068 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $94,650 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,416 |
| Payroll taxes | $14,886 |
| Fees for services: Management | $975 |
| Fees for services: Legal | $11,182 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $99,667 |
| Office expenses | $7,946 |
| Information technology | $6,000 |
| Royalties | $0 |
| Occupancy | $50,346 |
| 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 | $12,430 |
| Insurance | $27,992 |
| All other expenses | $70,852 |
| Total functional expenses | $1,431,987 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $742,805 |
| 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 | $146,717 |
| Investments—publicly traded securities | $98,455 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $987,977 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $987,977 |
| Total liabilities and net assets/fund balances | $987,977 |
Grants Awarded
Over the last fiscal year, Foxfield Racing Llc has awarded $101,629 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GREATER CHARLOTTESVILLE HABITAT FOR HUMANITY PURPOSE: UNRESTRICTED OPERATING SUPPORT | $50,000 |
CAMP HOLIDAY TRAILS PURPOSE: UNRESTRICTED OPERATING SUPPORT | $51,629 |