Indianapolis Motor Speedway Foundation Inc

Organization Overview

Indianapolis Motor Speedway Foundation Inc is located in Indianapolis, IN. The organization was established in 1959. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Indianapolis Motor Speedway Foundation Inc employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indianapolis Motor Speedway 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 12/2020, Indianapolis Motor Speedway Foundation Inc generated $4.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $3.5m during the year ending 12/2020. While expenses have increased by 12.2% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

THE INDIANAPOLIS MOTOR SPEEDWAY MUSEUM CELEBRATES MORE THAN A CENTURY OF THE INNOVATION, THRILL, AND CULTURAL SIGNIFICANCE OF MOTOR RACING AT THE INDIANAPOLIS MOTOR SPEEDW

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE INDIANAPOLIS MOTOR SPEEDWAY FOUNDATION, INC. OPERATES A MUSEUM AND GUIDED TOURS THAT ARE OPEN TO THE GENERAL PUBLIC. THE MUSEUM INCLUDES EXHIBITS RELATED TO ANTIQUE AUTOMOBILES, THE INTERNATIONAL SPORT OF AUTO RACING AND THE HISTORY THEREOF. THE GUIDED BUS TOURS PROVIDE ACCESS TO BEHIND THE SCENE AREAS AT THE INDIANAPOLIS MOTOR SPEEDWAY. IN ADDITION, THE MUSEUM PROVIDES FREE ADMISSION TO EDUCATIONAL PROGRAMS FOR FOURTH GRADERS TO COINCIDE WITH INDIANA'S FOURTH GRADE FOCUS ON STATE HISTORY, SERVING MORE THAN 11,711 STUDENTS. THE MUSEUM ALSO CONDUCTS A SCHOOL DAY PROGRAM EACH MAY FOR FIVE PRACTICE DAYS FOR THE INDIANAPOLIS 500 MILE RACE. 3,025 STUDENTS PARTICIPATED IN 2019 AND 0 IN 2020 / 2021


RESTORATION TO PRESERVE EDUCATE AND CELEBRATE RACING HISTORY THROUGH ITEMS THAT ARE ON DISPLAY OR PARTICIPATE IN RACING CEREMONIES


THE DISTINGUISHED SPEAKER SERIES AND FUEL UP FRIDAYS INFORM, EDUCATE AND ENTERTAIN RACING ENTHUSIASTS THROUGH STORY-TELLING BY AND DISCUSSIONS WITH ICONIC RACING PERSONALITIES. DUE TO PANDEMIC RESTRICTIONS NO SPEAKER SERIES EVENTS WERE HELD IN 2021.


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Board, Officers & Key Employees

Name (title)Compensation
John Joseph Hale Jr
President
$340,750
Constance Lund
Treasurer And Director
$0
Jeffrey B Smith
Secretary And Director
$0
Robert R Dyson
Chair And Director
$0
Gene Perkins
Director
$0
Fred J Nation
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Indianapolis Motor Speedway Llc
Prof & Managerial
$1,570,890
Wilhelm Corp Construction
Construction
$241,341
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$99,010
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,844,048
Noncash contributions included in lines 1a–1f $652,105
Total Revenue from Contributions, Gifts, Grants & Similar$1,943,058
Total Program Service Revenue$604,761
Investment income $88,150
Tax Exempt Bond Proceeds $0
Royalties $2,414
Net Rental Income $0
Net Gain/Loss on Asset Sales $2,043,586
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $26,366
Miscellaneous Revenue$0
Total Revenue $4,708,335

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Indianapolis Motor Speedway Foundation Inc has recieved totaling $25,000.

Awarding OrganizationAmount
Hulman & Company Foundation Inc

Terre Haute, IN

PURPOSE: GENERAL OPERATING EXPENSES

$25,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,473,754
Earnings$496,852
Admin Expense$15,333
Net Contributions$1,464,833
Ending Balance$3,420,106

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