Laguna Seca Raceway Fund in Monterey, California (CA)
Table of contents:
| Laguna Seca Raceway Fund | |
| Employer Identification Number (EIN) | 753088903 |
| Name of Organization | Laguna Seca Raceway Fund |
| In Care of Name | Jim Harris |
| Address | PO BOX 2078, Monterey, CA 93942-2078 |
| Subsection | Charitable Organization |
| Ruling Date | 04/2003 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $100,000 to $499,999 |
| Income | $10,000 to $24,999 |
| Filing Requirement | 990 - Required to file Form 990-N - Income less than $25,000 per year |
| Asset Amount | $185,471 |
| Amount of Income | $22,692 |
| Form 990 Revenue Amount | $22,692 |
| National Taxonomy of Exempt Entities (NTEE) | Recreation, Sports, Leisure, Athletics: Single Organization Support |
Non-representatives - add comments:
Amount of income in 2013: $22,692 (it was $41,562 in 2012)
| This organization: | $22,692 |
| Other organizations performing similar types of work: | $62,399 |
Assets in 2013: $185,471 (it was $388,487 in 2012)
| This organization: | $185,471 |
| Other organizations performing similar types of work: | $90,509 |
Expenses in 2013: $225,949
| Laguna Seca Raceway Fund: | $225,949 |
| Other organizations performing similar types of work: | $48,179 |
Income to expenses ratio in 2013: 0.1
| This organization: | 0.1 |
| Other organizations performing similar types of work: | 1.5 |
Grants share in income in 2013: 100.0%
| This organization: | 100.0% |
| Other organizations performing similar types of work: | 55.7% |
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $48,851 | $41,562 | $22,692 |
| Contributions, gifts, grants, and similar amounts received | $48,851 | $41,562 | $22,692 |
| Program service revenue including government fees and contracts | $0 | $0 | $0 |
| Membership dues and assessments | $0 | $0 | $0 |
| Investment income | $0 | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 |
| Other revenue | $0 | $0 | $0 |
| Total expenses | $10,594 | $12,245 | $225,949 |
| Total net assets | $358,415 | $387,732 | $184,475 |
| Excess/Deficit for the year | $38,257 | $29,317 | $-203,257 |
| Net assets or fund balances at beginning of year | $320,158 | $358,415 | $387,732 |
| Other changes in net assets or fund balances | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $387,732 | $184,475 | |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $360,622 | $388,487 | $185,471 |
| Total liabilities | $2,207 | $755 | $996 |
| Net assets or fund balances | $358,415 | $387,732 | $184,475 |
| Other Information | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | |
| Were any significant changes made to the organizing or governing documents? | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | No | No | |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No | |
| Total amount involved | $0 | $0 | |
| Initiation fees and capital contributions | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi) |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public Support | $185,703 |
| Subtotal Support | $185,703 |
| Gifts, grants, contributions, and membership fees received | $185,703 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support | $0 |
| Total Support | $198,457 |
| Public Support | $185,703 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $12,559 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income. Do not include gain or loss from the sale of capital assets | $195 |
| Gross receipts from related activities, etc. | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Death Valley Conservancy | Po Box 3595, Santa Barbara, CA 93130 | CA | 2009-01 | $23,913,435 |
| 2 | Los Angeles Parks Foundation | 11973 San Vicente Blvd Ste 200, Los Angeles, CA 90049-5098 | CA | 2008-08 | $3,136,409 |
| 3 | Coe Park Preservation Fund | 480 Hale St, Palo Alto, CA 94301-2207 | CA | 2012-01 | $327,137 |
| 4 | Friends Of Pioneer Park | 1300 Cedar St, Calistoga, CA 94515-1608 | CA | 2013-07 | $159,465 |
| 5 | Friends Of The San Diego County Fairgrounds | 2260 Jimmy Durante Blvd Surfside Pl, Del Mar, CA 92014 | CA | 2010-07 | $159,281 |
| 6 | Scotts Valley Parks & Recreation Advocates | One Civic Center Dr, Scotts Valley, CA 95066-4197 | CA | 2000-03 | $43,695 |
| 7 | Trails4all Inc | 13720 Florine Ave, Paramount, CA 90723-2133 | CA | 1997-01 | $33,624 |
| 8 | Amir S Garden Foundation | Po Box 337, Sunland, CA 91041 | CA | 2007-09 | $0 |
| 9 | Atascadero Performing Arts Center Committee | Po Box 690, Atascadero, CA 93423 | CA | 1992-03 | $0 |
| 10 | East County Aquatics Foundation | 15428 Sleepy Creek Rd, El Cajon, CA 92021 | CA | 2009-03 | $0 |
| 11 | Friends Of Camp Silverado, Camp Silverado | 231 R Evans Av, Vallejo, CA 94590 | CA | 2012-09 | $0 |
| 12 | Friends Of El Dorado Dog Park Inc | Po Box 8620, Long Beach, CA 90808 | CA | 2011-02 | $0 |
| 13 | Friends Of South Gate Parks | 4900 Southern Avenue, South Gate, CA 90280 | CA | 1997-06 | $0 |
| 14 | Friends Of The Otay Valley Regional Park | 12598 Portada Place, San Diego, CA 92130 | CA | 1997-01 | $0 |
| 15 | Friends Of The Parks | 710 Pier Avenue, Hermosa Beach, CA 90254 | CA | 2004-09 | $0 |
| 16 | Friends Of The San Jose Rose Garden | 1375 Emory Street, San Jose, CA 95126 | CA | 2008-09 | $0 |
| 17 | League To Skate Lake Tahoe | PO BOX 9443, Truckee, CA 96162-7443 | CA | 2007-03 | $0 |
| 18 | Martin-Fontana Parks Association | 117 Branham Lane 137, Sanjose, CA 95118 | CA | 2011-02 | $0 |
| 19 | Monterey Sports Center Foundation | Po Box 222297, Carmel, CA 93922 | CA | 2010-11 | $0 |
| 20 | Patrons Of The Half Moon Bay Dog Park | 703 Alsace Lorraine, Half Moon Bay, CA 94019 | CA | 2009-12 | $0 |
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