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Wka Association FY2020 filing

Not tax-deductible

Concord, NC501(c)(7)Since 1985EIN 31-0810666Revenue $1.0M in FY2020

On file with the IRSworldkarting.comPo Box 626, 28026-0626 · Concord, NCTax-exempt since Jan 1972

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To provide a safe, fair, consistent, fun, and affordable environment for the beginner, hobbyist, and future stars of motorsports to fulfill their racing dreams.

82¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $15K a year · 1% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$195K
40% of total assets
Looks good: liabilities are 40% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
Spent
$1.1M
To programs
82%
Net assets
$297K
By yearFY2020–FY2025
Revenue
$1.0M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.0M
FY2021$1.5M
FY2022$1.6M
FY2023$1.6M
FY2024$1.4M
FY2025$1.4M
Expenses
$1.1M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$1.5M
FY2022$1.5M
FY2023$1.6M
FY2024$1.4M
FY2025$1.4M
Net assets
$297K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$297K
FY2021$290K
FY2022$309K
FY2023$297K
FY2024$295K
FY2025$312K

From the FY2020 Form 990 (year ending November 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1972.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $944K Management & general 18% · $204K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Chris Kardashian
District 1 Trustee
$0Pt VII · Sec A
Robby Harper
District 2 Trustee
$0Pt VII · Sec A
Chuck Gafrarar
District 3 Trustee
$0Pt VII · Sec A
Jamie Knopf
District 4 Trustee
$0Pt VII · Sec A
Scott Sanders
District 5 Trustee
$0Pt VII · Sec A
Pat Slattery
District 6 Trustee
$0Pt VII · Sec A
George Sieracki
District 7 Trustee
$0Pt VII · Sec A
See Wka Association 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

Helps people race cars affordably in a fun, safe environment.

Questions for Wka Association

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Provided by the organization

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3 programs · $944K · in their own filed words · FY2019
01

Conducts and sanctions race events for the benefit of the members

$918Kprogram expense
02

Supply insurance for members during association sanctioned events.

$17Kprogram expense
03

Wka maintains a direct mail program to keep members informed of activities, events, and elections etc.

$9Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.0M
Ln 12
Fees for servicesLn 2g$984K
Gifts and grantsLn 1h$60K
Other incomeLn 4–11$667
Money outPt IX
$1.1M
Ln 25
Programscol B$944K
Managementcol C$204K
Owns and owesPt X
$297K
net assets · Ln 32
Cash and savingsLn 1–2$149K
Total assetsLn 16$492K
LiabilitiesLn 26$195K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$60K
Government grantsLn 1e$3K
Fees for servicesLn 2g$984K
Investment incomeLn 3$19
Other incomeLn 4–11$667
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$40K
SavingsLn 2$109K
Cash and savings togetherLn 1–2$149K
InvestmentsLn 11–13$234K
Land, buildings, equipmentLn 10c$28K
Other assetsLn 15$7K
Total assetsLn 16$492K
LiabilitiesLn 26$195K
Net assetsLn 32$297K
OperationsPt I, VI
EmployeesI 51
Fiscal year endsHeaderNovember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$119K$149K
InvestmentsLn 11–13$234K$234K
Land, buildings, equipmentLn 10c$41K$28K
Total assetsLn 16$486K$492K
LiabilitiesLn 26$85K$195K
Net assetsLn 32$400K$297K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$88K$88K
Pension plan contributionsLn 8$2K$2K
Other employee benefitsLn 9$5K$5K
Payroll taxesLn 10$9K$9K
Legal feesLn 11b$3K$3K
Other fees for servicesLn 11g$18K$4K$14K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$19K$19K
OccupancyLn 16$49K$49K
TravelLn 17$5K$5K
Conferences, conventions and meetingsLn 19$7K$7K
InterestLn 20$6K$6K
Depreciation, depletion and amortizationLn 22$12K$9K$4K
InsuranceLn 23$13K$13K
Other expenses (24a–d)Ln 24$892K$892K
All other expensesLn 24e$17K$6K$11K
Total functional expensesLn 25$1.1M$944K$204K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.4M$1.4M$17K$312K 990 PDF
FY2024 $1.4M$1.4M−$2K$295K 990 PDF
FY2023 $1.6M$1.6M−$12K$297K 990 PDF
FY2022 $1.6M$1.5M$19K$309K 990 PDF
FY2021 $1.5M$1.5M−$7K$290K 990 PDF
FY2020 Viewing $1.0M$1.1M−$103K$297K 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 FY2020 990 (6 parts)
Part I · Summary $1,044,098 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $56,642$59,905
I-9 Program service revenuePrior year $1,188,565$983,507
I-10 Investment incomePrior year $18$19
I-11 Other revenuePrior year $9,898$667
I-12 Total revenuePrior year $1,255,123$1,044,098
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $151,581$104,584
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,196,532$1,042,983
I-18 Total expensesPrior year $1,348,113$1,147,567
I-19 Revenue less expensesPrior year −$92,990−$103,469
Part VI · Governance 14 of 14 board members independent, 3 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-2 Family or business relationship among officers or directorsYes
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $1,044,098 across 7 lines filed
VIII-1b Membership dues$56,905
VIII-1e Government grants$3,000
VIII-1h Total contributions, gifts and grants$59,905
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $983,507$983,507
VIII-3 Investment incomeExcluded from tax $19$19
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $667$667
VIII-12 Total revenueRelated to mission $984,174 · Unrelated business $0 · Excluded from tax $19$1,044,098
Part IX · Statement of functional expenses $1,147,567 across 16 lines filed
IX-7 Other salaries and wagesManagement $88,297$88,297
IX-8 Pension plan contributionsManagement $2,308$2,308
IX-9 Other employee benefitsManagement $5,244$5,244
IX-10 Payroll taxesManagement $8,735$8,735
IX-11b Legal feesManagement $2,873$2,873
IX-11g Other fees for servicesPrograms $4,000 · Management $13,572$17,572
IX-12 Advertising and promotionPrograms $1,843$1,843
IX-13 Office expensesManagement $19,151$19,151
IX-16 OccupancyManagement $48,954$48,954
IX-17 TravelPrograms $4,908$4,908
IX-19 Conferences, conventions and meetingsPrograms $6,770$6,770
IX-20 InterestPrograms $5,606$5,606
IX-22 Depreciation, depletion and amortizationPrograms $8,736 · Management $3,642$12,378
IX-23 InsurancePrograms $13,333$13,333
IX-24 Other expenses (24a–d)Programs $892,326$892,326
IX-24e All other expensesPrograms $6,409 · Management $10,860$17,269
IX-25 Total functional expensesPrograms $943,931 · Management $203,636 · Fundraising $0$1,147,567
Part X · Balance sheet $491,938 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $30,529$40,171
X-2 Savings and temporary cash investmentsStart of year $88,028$109,008
X-4 Accounts receivableStart of year $85,566$73,641
X-10c Land, buildings and equipment, netStart of year $40,521$28,143
X-12 Other securitiesStart of year $234,310$234,310
X-15 Other assetsStart of year $6,665$6,665
X-16 Total assetsStart of year $485,619$491,938
X-25 Other liabilitiesStart of year $33,383$195,284
X-26 Total liabilitiesStart of year $85,496$195,284
X-32 Total net assets or fund balancesStart of year $400,123$296,654
X-33 Total liabilities and net assetsStart of year $485,619$491,938
Part XI · Reconciliation of net assets $296,654 net assets at year end
XI-1 Total revenue$1,044,098
XI-2 Total expenses$1,147,567
XI-3 Revenue less expenses−$103,469
XI-4 Net assets at start of year$400,123
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$296,654

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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