Raceway Gives Foundation

Organization Overview

Raceway Gives Foundation is located in Madison, IL. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Raceway Gives Foundation 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 12/2023, Raceway Gives Foundation generated $198.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (28.4%) each year. All expenses for the organization totaled $219.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

THE RACEWAY GIVES FOUNDATION HAS BEEN CREATED BY WORLD WIDE TECHNOLOGY RACEWAY (WWTR) TO LEVERAGE THE RESOURCES AND TECHNOLOGY OPPORTUNITIES ASSOCIATED WITH MOTORSPORTS TO PROVIDE PROGRAMS THAT ENHANCE EDUCATION AND CAREER OPPORTUNITIES FOR YOUTH AGES 8 - 18 WITH A FOCUS ON THE GIFTED, DIVERSE AND UNDERSERVED AS WELL AS AREA MILITARY FAMILIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ROAD TO INDY: TO FOSTER THE DEVELOPMENT OF TALENT AMONG DIVERSE AND UNDERSERVED YOUTH, SCHOLARSHIP PROGRAMS SUPPORTING PARTICIPATION IN THE GATEWAY I-DRIVE AND IGNITE RACING SERIES WILL BE DEVELOPED FOR DESERVING TALENT.


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Board, Officers & Key Employees

Name (title)Compensation
Curtis Francois
President
$0
Amy Francois
Treasurer
$0
Larry Albus
Director
$10,500
Chris Blair
Secretary
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$46,191
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$142,500
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$188,691
Total Program Service Revenue$0
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events -$17,575
Net Income from Gaming Activities $27,397
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $198,513

Grants Awarded

Over the last fiscal year, Raceway Gives Foundation has awarded $109,000 in support to 2 organizations.

Grant RecipientAmount

GATEWAY ACQUISITIONS INC

PURPOSE: INDYCAR BACK TO SCHOOL TEACHER PROGRAM AND NASCAR CUP UNITED WAY INITIATIVE

$95,000

JACKIE JOYNER-KERSEE FOUNDATION

PURPOSE: JJK 5K AT 2023 NASCAR

$14,000
View Grant Profile

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