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Studebaker Drivers Club INC FY2022 filing

Not tax-deductible

South Bend, IN501(c)(7)Mutual / membership EIN 25-1381839Revenue $430K in FY2022

On file with the IRSstudebakerdriversclub.comPo Box 3044, 46619-0044 · South Bend, INTax-exempt since Jul 1980

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Provide membership services for restoration of vehicles; publication of "turning wheels" magazine; provide funds to run sdc museum; educate public

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
$13K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $29K a year · 7% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$13K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Plus $1.1M in investments, Pt X · Ln 11–13
Looks good: 7.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$80K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 16 voting members
Looks good: 15 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$430K
-14% vs prior year
Spent
$449K
Net assets
$1.3M
By yearFY2020–FY2024
Revenue
$430K
FY2022▼ -14%
Tap a bar for its year
Revenue by fiscal year
FY2020$378K
FY2021$497K
FY2022$430K
FY2023$402K
FY2024$440K
Expenses
$449K
FY2022▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$351K
FY2021$362K
FY2022$449K
FY2023$422K
FY2024$421K
Net assets
$1.3M
FY2022▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.2M
FY2021$1.3M
FY2022$1.3M
FY2023$1.3M
FY2024$1.3M

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1980.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

16 people listed on the 990; $13K paid to officers and key staff.

Part VII, Section A · reportable compensation
Jane Stinson
Treasurer
$12,600Pt VII · Sec A
Tom Sexton
Director
$100Pt VII · Sec A
Tom Curtis
Past President
$100Pt VII · Sec A
Allan Dias
Director
$100Pt VII · Sec A
Carl Thompson
Parlimentarian
$100Pt VII · Sec A
Ed Smith
Director
$100Pt VII · Sec A
Don Cox
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2022FY2021FY2020
Jane Stinson$12,600$12,600$12,600
Tom Curtis$100$100—
Carl Thompson$100——
Tom Sexton$100$100—
Allan Dias$100$100—
Ed Smith$100$100—
Carl Thomason—$100—
Frank Philippi—$100—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Studebaker Drivers Club INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers membership, publishes a magazine, funds a museum, and educates the public about vehicle restoration.

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2 programs · in their own filed words · FY2022
01

Publication of "turning wheels magazine" for members mailing and distribution costs of the magazine.

Pt IX · col B
02

Planning and execution of an international meet which includes a car show.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$430K
Ln 12
Gifts and grantsLn 1h$303K
Fees for servicesLn 2g$57K
Other incomeLn 4–11$49K
Money outPt IX
$449K
Ln 25
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$267K
Total assetsLn 16$1.4M
LiabilitiesLn 26$80K
PeoplePt VI, VII
16
listed · VII A
PaidVII A6
Voting boardVI 1a16
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$303K
Fees for servicesLn 2g$57K
Investment incomeLn 3$21K
Other incomeLn 4–11$49K
Gains on assetsLn 7$16K
Total revenueLn 12$430K
Assets in detailPt X, end of year
SavingsLn 2$267K
Cash and savings togetherLn 1–2$267K
InvestmentsLn 11–13$1.1M
Total assetsLn 16$1.4M
LiabilitiesLn 26$80K
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6500
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$331K$267K
InvestmentsLn 11–13$1.1M$1.1M
Total assetsLn 16$1.4M$1.4M
LiabilitiesLn 26$103K$80K
Net assetsLn 32$1.3M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$13K
Legal feesLn 11b$2K
Accounting feesLn 11c$11K
Advertising and promotionLn 12$1K
Information technologyLn 14$9K
InsuranceLn 23$9K
Other expenses (24a–d)Ln 24$392K
All other expensesLn 24e$11K
Total functional expensesLn 25$449K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $440K$421K$20K$1.3M 990 PDF
FY2023 $402K$422K−$19K$1.3M 990 PDF
FY2022 Viewing $430K$449K−$19K$1.3M 990 PDF
FY2021 $497K$362K$135K$1.3M 990 PDF
FY2020 $378K$351K$26K$1.2M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $429,587 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $430,741$302,725
I-9 Program service revenuePrior year $56,857$57,320
I-10 Investment incomePrior year $21,977$20,995
I-11 Other revenuePrior year −$12,168$48,547
I-12 Total revenuePrior year $497,407$429,587
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $13,300$13,100
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $348,921$435,521
I-18 Total expensesPrior year $362,221$448,621
I-19 Revenue less expensesPrior year $135,186−$19,034
Part VI · Governance 15 of 16 board members independent, 3 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members15
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $429,587 across 7 lines filed
Lines not itemized here account for $1,023 of total revenue; see the IRS return.
VIII-1b Membership dues$302,725
VIII-1h Total contributions, gifts and grants$302,725
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $57,320$57,320
VIII-3 Investment incomeUnrelated business $5,363$5,363
VIII-7 Net gain or loss on sales of assetsUnrelated business $15,632$15,632
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $10,124 · Unrelated business $37,400$47,524
VIII-12 Total revenueRelated to mission $68,467 · Unrelated business $58,395 · Excluded from tax $0$429,587
Part IX · Statement of functional expenses $448,621 across 8 lines filed
IX-5 Pay of current officers, directors and key staff$13,100
IX-11b Legal fees$1,575
IX-11c Accounting fees$11,000
IX-12 Advertising and promotion$1,200
IX-14 Information technology$9,330
IX-23 Insurance$8,898
IX-24 Other expenses (24a–d)$392,180
IX-24e All other expenses$11,338
IX-25 Total functional expenses$448,621
Part X · Balance sheet $1,360,310 assets, 8 lines filed
X-2 Savings and temporary cash investmentsStart of year $330,512$267,382
X-11 Publicly traded securitiesStart of year $1,071,977$1,092,928
X-16 Total assetsStart of year $1,402,489$1,360,310
X-25 Other liabilitiesStart of year $102,778$79,633
X-26 Total liabilitiesStart of year $102,778$79,633
X-27 Net assets without donor restrictionsStart of year $1,299,711$1,280,677
X-32 Total net assets or fund balancesStart of year $1,299,711$1,280,677
X-33 Total liabilities and net assetsStart of year $1,402,489$1,360,310
Part XI · Reconciliation of net assets $1,280,677 net assets at year end
XI-1 Total revenue$429,587
XI-2 Total expenses$448,621
XI-3 Revenue less expenses−$19,034
XI-4 Net assets at start of year$1,299,711
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,280,677

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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