Racing For Als Inc
- Assets
- $207.9k
- Revenue
- $264.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Apex, NC
- Founding
- Data as of
- 12/2021
- EIN
- 85-0750246
Organization Overview
Racing For Als Inc is located in Apex, NC. According to its NTEE Classification (G50) the organization is classified as: Nerve, Muscle & Bone Diseases, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Racing For Als 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 12/2021, Racing For Als Inc generated $264.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $274.6k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS AND AWARENESS FOR RESEARCH AND TREATMENT OF MOTOR NEURON DISEASE (ALS).
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING CALENDAR YEAR 2021 RACING FOR ALS, INC. ADMINISTERED GRANTS IN SUPPORT AND CARE OF INDIVIDUALS WITH ALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Lloyd President | Officer | 5 | $0 |
Marya Lloyd Secretary | Officer | 5 | $0 |
David Lloyd Jr Treasurer | Officer | 5 | $0 |
Cameron Singleton Vice-President | Officer | 5 | $0 |
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 | $264,042 |
| Noncash contributions included in lines 1a–1f | $6,247 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $264,042 |
| Total Program Service Revenue | $0 |
| Investment income | $1 |
| 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 | $264,600 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $95,000 |
| Grants and other assistance to domestic individuals. | $32,500 |
| 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 | $3,449 |
| Fees for services: Accounting | $2,478 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,000 |
| Advertising and promotion | $24,239 |
| Office expenses | $56 |
| Information technology | $354 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,398 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $603 |
| Interest | $2,573 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,963 |
| Insurance | $14,872 |
| All other expenses | $6,913 |
| Total functional expenses | $274,612 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,231 |
| Savings and temporary cash investments | $47,752 |
| 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 | $152,870 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $207,853 |
| 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 | $46,780 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $46,780 |
| 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 | $161,073 |
| Total liabilities and net assets/fund balances | $207,853 |
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