D R I V E One
- Assets
- $52.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Ray Twp, MI
- Founding
- 09/2013
- Data as of
- 12/2022
- EIN
- 61-1707440
Organization Overview
D R I V E One is located in Ray Twp, MI. The organization was established in 2013. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. D R I V E One 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 12/2022, D R I V E One generated $180.1k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $166.4k during the year ending 12/2022. While expenses have increased by 12.2% per year over the past 8 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.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
THE STUDENTS COMPLETED THE '74 Z28 CAMARO RESTORATION PROJECT FOR THE DETROIT AUTORAMA. THE CAMARO FINISHED 1ST IN THE HIGH SCHOOL CUSTOM CLASS, AND 1ST IN RESTORED '73-'78, BEATING SEVERAL PROFESSIONAL BUILDS.STUDENTS ALSO UPDATED A 1986 IROC CAMARO FOR THE 2022 DRAG RACING SEASON AND ENTERED IT ALONGSIDE THE CAMARO AT THE IX PISTON-POWER AUTORAMA IN CLEVELAND, OHIO. SEVEN STUDENTS SPENT THE WEEKEND IN NORTHEAST OHIO, SHARING THEIR PROJECT VEHICLES AND NETWORKING WITH INDUSTRY. THE IROC FINISHED 2ND IN SUPER COMP AT CLEVELAND, WHILE THE '74 FINISHED 3RD IN RESTORED '73-'78, BEATEN ONLY BY TWO MILLION-DOLLAR CONCOURS BUILDS.THE HAGERTY DRIVER'S FOUNDATION PRESENTED DRIVE ONE WITH A $25,000 GRANT AT THE INAUGURAL DETROIT CONCOURS. THE '74 CAMARO ATTENDED THE EVENT, AND STUDENTS WERE AGAIN ABLE TO NETWORK WITH INDUSTRY PROFESSIONALS.THE STUDENTS BEGAN RESTORING FOUR PAST PROJECT VEHICLES FOR THE UPCOMING 70TH ANNUAL DETROIT AUTORAMA. THE MICHIGAN HOT ROD ASSOCIATION (MHRA) GAVE DRIVE ONE A LARGE FOOTPRINT IN THE 2023 SHOW TO CELEBRATE THE 50TH ANNIVERSARY OF STUDENT-BUILT PROJECT CARS AT "AMERICA'S GREATEST HOT ROD SHOW". THE FOUR PAST PROJECTS JOINED THE 2022-23 PROJECT VEHICLES: A 1967 PONTIAC GTO AND A 1969 PONTIAC LEMANS CONVERTIBLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Tregembo Sr President | 1 | $0 | |
Dianne Vanmarter Secretary | 1 | $0 | |
Janice Hedge Treasurer | 4 | $0 | |
Dale Burke Trustee | 1 | $0 | |
Frank Hudson Trustee | 1 | $0 | |
Rick Fewer Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $180,092 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $180,092 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $42,177 |
| Occupancy, rent, utilities, and maintenance | $92,238 |
| Printing, publications, postage, and shipping | $2,384 |
| Other expenses | $29,640 |
| Total expenses | $166,439 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $33,210 |
| Other assets | $0 |
| Total assets | $52,293 |
| Total liabilities | $72,270 |
| Net assets or fund balances | -$19,977 |