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Highlands Motoring Foundation INC

Tax-deductible

Highlands, NC501(c)(3)Foundations & GrantmakersEIN 26-4597331Revenue $180K in FY2024

On file with the IRShighlandsmotoringfestival.comPo Box 442, 28741-0442 · Highlands, NCTax-exempt since Sep 2009Publicly supported — 509(a)(2)

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To fund local human needs charitable organizations

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 3 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
1 of 2
filings with a surplus
Average surplus $6K a year · 3% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $35K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$180K
-18% vs prior year
Spent
$185K
To programs
100%
Net assets
$56K
By yearFY2020–FY2024
Revenue
$180K
FY2024▼ -18%
Tap a bar for its year
Revenue by fiscal year
FY2020$27K
FY2021$156K
FY2022$180K
FY2023$219K
FY2024$180K
Expenses
$185K
FY2024▼ -8%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022Not on file
FY2023$201K
FY2024$185K
Net assets
$56K
FY2024▼ -8%
Tap a bar for its year
Net assets by fiscal year
FY2020$13K
FY2021$36K
FY2022$43K
FY2023$61K
FY2024$56K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2009.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $185K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
Steve Ham
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Steve Mehder
Treasurer
$0Pt VII · Sec A
See Highlands Motoring Foundation 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds local charities addressing human needs.

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Provided by the organization

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1 program · $185K · in their own filed words · FY2024
01

The entity sponsored the highlands motoring festival to generate funds donated to local human needs charities in highlands NC.

$185Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Highlands Chamber of Commerce INCFY2024$25K
Cbf FoundationFY2024$10K
Total grants receivedfrom 2 funders$35K
Grants paid · 2 grants · $210K · 2023–2024
Grants to Domistic Non-ProfitsNC · FY2024$105,000
Grants to Domistic Non-ProfitsNC · FY2023$105,001

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$180K
Ln 12
Fees for servicesLn 2g$140K
Gifts and grantsLn 1h$40K
Money outPt IX
$185K
Ln 25
Programscol B$185K
Owns and owesPt X
$56K
net assets · Ln 32
Cash and savingsLn 1–2$46K
Total assetsLn 16$56K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$40K
Fees for servicesLn 2g$140K
Total revenueLn 12$180K
Assets in detailPt X, end of year
CashLn 1$41K
SavingsLn 2$5K
Cash and savings togetherLn 1–2$46K
Total assetsLn 16$56K
LiabilitiesLn 26$0
Net assetsLn 32$56K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$57K$46K
Total assetsLn 16$61K$56K
LiabilitiesLn 26$0$0
Net assetsLn 32$61K$56K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$105K$105K
Legal feesLn 11b$850$850
OccupancyLn 16$4K$4K
Other expenses (24a–d)Ln 24$50K$50K
All other expensesLn 24e$25K$25K
Total functional expensesLn 25$185K$185K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $180K$185K−$5K$56K 990 PDF
FY2023 $219K$201K$18K$61K 990 PDF
FY2022 $180K$43K 990 PDF
FY2021 $156K$36K 990 PDF
FY2020 $27K$13K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $179,867 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $47,087$39,940
I-9 Program service revenuePrior year $171,630$139,927
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $218,717$179,867
I-13 Grants and similar amounts paidPrior year $105,001$105,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $95,913$79,900
I-18 Total expensesPrior year $200,914$184,900
I-19 Revenue less expensesPrior year $17,803−$5,033
Part VI · Governance 0 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $179,867 across 4 lines filed
Lines not itemized here account for $4,219 of total revenue; see the IRS return.
VIII-1a Federated campaigns$39,940
VIII-1h Total contributions, gifts and grants$39,940
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $135,708$135,708
VIII-12 Total revenueRelated to mission $139,927$179,867
Part IX · Statement of functional expenses $184,900 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $105,000$105,000
IX-11b Legal feesPrograms $850$850
IX-16 OccupancyPrograms $4,000$4,000
IX-24 Other expenses (24a–d)Programs $50,045$50,045
IX-24e All other expensesPrograms $25,005$25,005
IX-25 Total functional expensesPrograms $184,900 · Management $0 · Fundraising $0$184,900
Part X · Balance sheet $55,953 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $52,009$40,926
X-2 Savings and temporary cash investmentsStart of year $5,206$4,695
X-9 Prepaid expenses and deferred chargesStart of year $3,497$10,332
X-16 Total assetsStart of year $60,712$55,953
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $60,712$55,953
X-32 Total net assets or fund balancesStart of year $60,712$55,953
X-33 Total liabilities and net assetsStart of year $60,712$55,953
Part XI · Reconciliation of net assets $55,953 net assets at year end
XI-1 Total revenue$179,867
XI-2 Total expenses$184,900
XI-3 Revenue less expenses−$5,033
XI-4 Net assets at start of year$60,712
XI-8 Prior period adjustments$274
XI-10 Net assets at end of year$55,953

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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