North Carolina Motorsports Foundation Inc
- Assets
- $59.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Concord, NC
- Founding
- 03/2004
- Data as of
- 06/2021
- EIN
- 20-0333635
Organization Overview
North Carolina Motorsports Foundation Inc is located in Concord, NC. The organization was established in 2004. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Motorsports Foundation 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 06/2021, North Carolina Motorsports Foundation Inc generated $36.1k 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 (6.0%) each year. All expenses for the organization totaled $30.9k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (9.8%) per year over the past 5 years. 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
2021
Describe the Organization's Program Activity:
Part 3
WORKING WITH INDIVIDUALS AND ORGANIZATIONS INVOLVED IN THE MOTORSPORTS INDUSTRY IN NORTH CAROLINA WHO HAVE AN INTEREST IN BENEFITTING OTHER CHARITABLE ORGANIZATIONS AND IMPROVING ECONOMIC DEVELOPMENT IN NORTH CAROLINA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Miller Executive Direc | 30 | $14,700 | |
Patrick Rogers Chairman | 1 | $0 | |
Marjorie Benbow Director | 1 | $0 | |
Greg Walter Vice Chair | 1 | $0 | |
David Morton Treasurer | 1 | $0 | |
Greg Fornelli Chairman | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $12 |
| Total Program Service Revenue | $36,120 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $36,132 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $14,700 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $16,235 |
| Total expenses | $30,935 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $59,087 |
| Other assets | $0 |
| Total assets | $59,087 |
| Total liabilities | $0 |
| Net assets or fund balances | $59,087 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that North Carolina Motorsports Foundation Inc has recieved totaling $12.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $12 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |
Richmond Metropolitan Convention & Vistors Bureau Richmond, VA | $6,099,091 | $8,138,093 |
Knoxville Convention & Visitors Bureau Inc Knoxville, TN | $5,768,468 | $5,619,069 |
South Carolina I-77 Alliance Richburg, SC | $4,361,702 | $6,505,378 |
Access To Capital For Entrepreneurs Inc Cleveland, GA | $88,796,114 | $11,013,240 |
Columbia Metropolitan Convention And Visitors Bureau Columbia, SC | $6,376,262 | $4,843,981 |
Srs Community Reuse Organization Aiken, SC | $6,557,053 | $4,875,445 |
Grove Park Foundation Inc Atlanta, GA | $25,190,874 | $3,791,912 |
Alexandria Convention And Visitors Association Inc Alexandria, VA | $744,565 | $3,884,098 |
Vibrant Memphis Inc Memphis, TN | $19,880,886 | $2,783,167 |
Hampton Roads Economic Development Alliance Norfolk, VA | $4,122,075 | $4,031,039 |