North Carolina Motorsports Foundation Inc in Concord, North Carolina (NC)
Table of contents:
| North Carolina Motorsports Foundation Inc | |
| Employer Identification Number (EIN) | 200333635 |
| Name of Organization | North Carolina Motorsports Foundation Inc |
| Address | 5555 Concord Pkwy S Ste 332, Concord, NC 28027-4632 |
| Subsection | Charitable Organization |
| Ruling Date | 03/2004 |
| 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 | 06/2014 |
| Assets | $25,000 to $99,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 - Required to file Form 990-N - Income less than $25,000 per year |
| Asset Amount | $65,203 |
| Amount of Income | $49,803 |
| Form 990 Revenue Amount | $49,803 |
| National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Economic Development |
Non-representatives - add comments:
Amount of income in 2014: $49,803 (it was $53,090 in 2013)
| North Carolina Motorsports Foundation Inc: | $49,803 |
| Other organizations performing similar types of work: | $135,279 |
Assets in 2014: $65,203 (it was $65,059 in 2013)
| North Carolina Motorsports Foundation Inc: | $65,203 |
| Other organizations performing similar types of work: | $114,906 |
Expenses in 2013: $58,073
| North Carolina Motorsports Foundation Inc: | $58,073 |
| Other organizations performing similar types of work: | $121,073 |
Income to expenses ratio in 2013: 0.9
| This organization: | 0.9 |
| Other organizations performing similar types of work: | 1.4 |
Grants share in income in 2013: 99.9%
| This organization: | 99.9% |
| Other organizations performing similar types of work: | 8.8% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $56,926 | $53,090 | |
| Contributions, gifts, grants, and similar amounts received | $56,920 | $53,030 | |
| Program service revenue including government fees and contracts | $0 | $0 | |
| Membership dues and assessments | $0 | $0 | |
| Investment income | $6 | $60 | |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | |
| Net income/loss from gaming and fundraising events | $39,500 | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 | |
| Other revenue | $0 | $0 | |
| Total expenses | $65,195 | $58,073 | |
| Total net assets | $70,042 | $65,059 | |
| Excess/Deficit for the year | $-8,269 | $-4,983 | |
| Net assets or fund balances at beginning of year | $67,399 | $70,042 | |
| Other changes in net assets or fund balances | $10,912 | $0 | |
| Net assets or fund balances at end of year | $70,042 | $65,059 | |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $67,399 | $77,180 | $65,059 |
| Total liabilities | $0 | $7,138 | $0 |
| Net assets or fund balances | $70,042 | $65,059 | |
| 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 | |
| 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 | |
| Gross receipts for public use of club facilities | $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: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975 |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $109,950 |
| Subtotal | $109,950 |
| Gifts, grants, contributions, and membership fees received | $109,950 |
| Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | $0 |
| Gross receipts from activities that are not an unrelated trade or business under section 513 | $0 |
| 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 |
| Less | $0 |
| Amounts received from disqualified persons | $0 |
| Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support | $0 |
| Total support | $110,066 |
| Public support | $109,950 |
| Subtotal | $116 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $116 |
| Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | West River Foundation For Economic And Community Development | PO BOX 605, Sturgis, SD 57785-0605 | SD | 2000-10 | $1,093,865 |
| 2 | Renew North Carolina Foundation Inc | 2000 Renaissance Plaza, Greensboro, NC 27401 | NC | 2014-01 | $1,321,356 |
| 3 | Southern Rural Development Initiative Inc | 128 E Hargett Street, Raleigh, NC 27601-1460 | NC | 1996-05 | $1,206,314 |
| 4 | Direct Establishments, Del Sol Const And Landscaping | PO BOX 3202, Cary, NC 27519-3202 | NC | 2014-06 | $1,200,000 |
| 5 | Sequoyah Fund Inc | 810 Acquioni Rd, Cherokee, NC 28719 | NC | 2014-11 | $807,122 |
| 6 | Wayne County Development Allianceinc | PO BOX 1280, Goldsboro, NC 27533-1280 | NC | 2009-12 | $754,350 |
| 7 | Scotland Development Corporation | 606 Atkinson St, Laurinburg, NC 28352-4405 | NC | 2003-02 | $527,293 |
| 8 | Hillsborough Street Community Service Corporation | 2416 Hillsborough St, Raleigh, NC 27607-7248 | NC | 2011-06 | $461,198 |
| 9 | Wilkes Economic Development Corporation | 213 9th St, N Wilkesboro, NC 28659-4103 | NC | 2003-06 | $454,853 |
| 10 | Southeast Raleigh Assembly Inc, Sera Inc | 19 W Hargett St Ste 200, Raleigh, NC 27601-2937 | NC | 2010-04 | $229,968 |
| 11 | The Surry County Economic Development Foundation Inc | P O Box 1282 118 Hamby Road-Suite 146, Dobson, NC 27017 | NC | 2007-05 | $193,833 |
| 12 | Caldwell 2020 Inc | 2855 Hickory Blvd, Hudson, NC 28638-2672 | NC | 2009-10 | $156,000 |
| 13 | Stanly County Convention And Visitors Bureau Inc | 1000 N 1st St Ste 11, Albemarle, NC 28001-2848 | NC | 2004-11 | $114,242 |
| 14 | Center For Creative Economy | 5212 Cedarwood Creek Drive, Winstonsalem, NC 27104 | NC | 2011-05 | $112,548 |
| 15 | Centralina Economic Development Commission Inc | 525 N Tryon St - 12th Fl, Charlotte, NC 28202-0202 | NC | 2007-03 | $112,177 |
| 16 | Cape Fear Future Foundation Inc | 1 Estelle Lee Pl, Wilmington, NC 28401-3360 | NC | 2010-10 | $106,740 |
| 17 | Sustainable Prosperity Inc | PO BOX 1758, Pittsboro, NC 27312-1758 | NC | 2011-02 | $100,200 |
| 18 | Unisal | 101 W Sugar Creek Rd Unit-2, Charlotte, NC 28213 | NC | 2003-03 | $64,665 |
| 19 | Triangle Technology Executives Council Inc, Ttec | 104 Pahlmeyer Pl, Cary, NC 27519-2880 | NC | 2009-12 | $51,744 |
| 20 | Thomasville Chamber Foundation Inc | PO BOX 1400, Thomasville, NC 27361-1400 | NC | 2009-12 | $37,500 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 3,253 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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