Kyle Petty Charity Ride Inc
- Assets
- $1.7m
- Revenue
- $429.8k
- Investments
- $0.0
- Employees
- 4
- Location
- Charlotte, NC
- Founding
- 03/2001
- Data as of
- 12/2021
- EIN
- 56-2230609
Organization Overview
Kyle Petty Charity Ride Inc is located in Charlotte, NC. The organization was established in 2001. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Kyle Petty Charity Ride Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kyle Petty Charity Ride 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, Kyle Petty Charity Ride Inc generated $429.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $398.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.8%) per year over the past 7 years. 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
KPCR ENGAGES IN ACTIVITIES TO BENEFIT HOSPITALS AND OTHER CHARITABLE ORGANIZATIONS WHICH ASSIST CHILDREN AFFLICTED WITH DISEASE OR INJURY AND TO PROMOTE COMMUNITY AWARENESS OF THE NEEDS OF CHILDREN WITH SERIOUS DISEASES, ILLNESS AND INJURY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS TO VARIOUS COMMUNITY & CHILDREN'S CHARITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Morgan Castano Petty Executive Director | Officer | 40 | $106,029 |
Kyle E Petty President | OfficerTrustee | 0 | $0 |
Terry Campbell Treasurer | OfficerTrustee | 0 | $0 |
Morri Irvin Secretary | OfficerTrustee | 0 | $0 |
Mike Heafner Asst. Secretary | OfficerTrustee | 0 | $0 |
Jon Manafort Vice President | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $200,028 |
| Related organizations | $0 |
| Government grants | $32,122 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $232,150 |
| Total Program Service Revenue | $0 |
| Investment income | $23,008 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,345 |
| Net Income from Fundraising Events | $172,352 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $429,789 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $125,000 |
| 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. | $96,390 |
| Compensation of current officers, directors, key employees. | $38,556 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $91,326 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,928 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,301 |
| Office expenses | $1,177 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $22,032 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,760 |
| Insurance | $17,566 |
| All other expenses | $5,392 |
| Total functional expenses | $398,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $973,498 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,709 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,518 |
| Prepaid expenses and deferred charges | $76,000 |
| Net Land, buildings, and equipment | $1,375 |
| Investments—publicly traded securities | $593,240 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,660,340 |
| Accounts payable and accrued expenses | $24,503 |
| Grants payable | $0 |
| Deferred revenue | $512,630 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $537,133 |
| Net assets without donor restrictions | $1,123,207 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,660,340 |
Grants Awarded
Over the last fiscal year, Kyle Petty Charity Ride Inc has awarded $805,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Charlotte, NC PURPOSE: TO ASSIST CHILDREN INFLICTED WITH DISEASE OR INJURY AND TO PROMOTE COMMUNITY AWARENESS OF THE NEEDS OF CHILDREN WITH SERIOUS DISEASES, ILLNESS AND INJURY. | $505,500 |
Randleman, NC PURPOSE: TO ASSIST CHILDREN INFLICTED WITH DISEASE OR INJURY AND TO PROMOTE COMMUNITY AWARENESS OF THE NEEDS OF CHILDREN WITH SERIOUS DISEASES, ILLNESS AND INJURY. | $300,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Kyle Petty Charity Ride Inc has recieved totaling $31,966.
| Awarding Organization | Amount |
|---|---|
Sam And Labibie Azar Family Foundation Inc Atlanta, GA PURPOSE: GENERAL CHARITABLE PURPOSES | $11,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $11,000 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $9,966 |
Endowment Analysis
| Beg. Balance | $4,530,108 |
| Earnings | $666,452 |
| Admin Expense | $25,681 |
| Net Contributions | $69,346 |
| Ending Balance | $5,240,225 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ninth District Opportunity Inc Gainesville, GA | $20,597,568 | $53,356,026 |
Nema Foundation Inc Tallulah Falls, GA | $40,863,488 | $61,480,995 |
Gary Sinise Foundation Nashville, TN | $79,715,180 | $58,070,139 |
Jefferson Scholars Foundation Charlottesville, VA | $761,742,846 | $36,629,374 |
The Pauley Family Foundation Richmond, VA | $2,022,061,315 | $1,899,350,410 |
College Foundation Of The University Of Virginia Charlottesville, VA | $252,362,262 | $51,045,128 |
Philanthropic Impact Foundation Nashville, TN | $919,847 | $18,241,201 |
Aston Park Health Care Center Inc Asheville, NC | $17,105,214 | $12,530,764 |
New Morning Foundation Columbia, SC | $9,598,750 | $10,587,010 |
James Family Charitable Foundation Charlottesville, VA | $171,150,056 | $16,638,935 |
Silver Valley Research Foundation Mclean, VA | $1,699,232 | $12,100,000 |
York Foundation Herndon, VA | $79,294,285 | $7,194,037 |