North Carolina Center For Automotive Research Inc
- Assets
- $8.3m
- Revenue
- $756.3k
- Investments
- $0.0
- Employees
- 20
- Location
- Garysburg, NC
- Founding
- 02/2006
- Data as of
- 12/2023
- EIN
- 20-2981615
Organization Overview
North Carolina Center For Automotive Research Inc is located in Garysburg, NC. The organization was established in 2006. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. As of 12/2023, North Carolina Center For Automotive Research Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Center For Automotive Research 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 12/2023, North Carolina Center For Automotive Research Inc generated $756.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $1.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
BUILD AND OPERATE AN AUTOMOTIVE TESTING & RESEARCH FACILITY AND TO PROMOTE AND ENHANCE THE EFFICIENT USE OF FOSSIL FUELS AND ALTERNATE FUELS IN MOTOR TRANSPORTORATION
Describe the Organization's Program Activity:
PROMOTE AND CREATE INTEREST IN A VEHICLE RESEARCH AND FURNISH A FACILITY FOR VEHICLE TEXTING AND PROMOTE DRIVER EDUCATION AND SAFETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Brown President | Officer | 1 | $0 |
Nick Ellis Director | Trustee | 1 | $0 |
Fred Gallasch Director | Trustee | 1 | $0 |
David Hansen Director | Trustee | 1 | $0 |
David King Director | Trustee | 1 | $0 |
Paul Pearce Director | Trustee | 1 | $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 | $30,043 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,043 |
| Total Program Service Revenue | $702,907 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $700 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $756,300 |
| 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 | $141,496 |
| Pension plan accruals and contributions | $1,870 |
| Other employee benefits | $26,870 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,576 |
| Fees for services: Accounting | $37,904 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $118,493 |
| Advertising and promotion | $5,377 |
| Office expenses | $465 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $66,705 |
| Travel | $1,790 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,652 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $557,822 |
| Insurance | $50,066 |
| All other expenses | $3,823 |
| Total functional expenses | $1,169,596 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $347,815 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $98,773 |
| 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 | $11,640 |
| Net Land, buildings, and equipment | $7,792,856 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,251,084 |
| Accounts payable and accrued expenses | $8,246 |
| Grants payable | $0 |
| Deferred revenue | $27,680 |
| 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 | $1,773,814 |
| Other liabilities | $0 |
| Total liabilities | $1,809,740 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $6,441,344 |
| 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 | $8,251,084 |
Grants Awarded
Over the last fiscal year, North Carolina Center For Automotive Research Inc has awarded $105,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ELECTRIC VEHICLE CHALLENGE PURPOSE: PROMOTE ELECTRIC VEH | $15,600 |
DUDLEY HIGH SCHOOL PURPOSE: PROMOTE ELECTIC VEHI | $10,750 |
HALIFAX COMMUNITY COLLEGE PURPOSE: DRIVER TRAINING | $12,600 |
NORTHAMPTON PUBLIC SCHOOLS PURPOSE: AUTO EDUCATION | $66,550 |