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Wka Association FY2021 filing

Not tax-deductible

Concord, NC501(c)(7)Since 1985EIN 31-0810666

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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.

86¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · 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
1 of 5
filings with a surplus
Average deficit $21K a year · 1% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$262K
47% of total assets
Looks good: liabilities are 47% 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
$1.5M
+47% vs prior year
Spent
$1.5M
To programs
86%
Net assets
$290K
By yearFY2020–FY2024
Revenue
$1.5M
FY2021▲ +47%
Revenue by fiscal year
FY2020$1.0M
FY2021$1.5M
FY2022$1.6M
FY2023$1.6M
FY2024$1.4M
FY2024$1.4M
Expenses
$1.5M
FY2021▲ +34%
Expenses by fiscal year
FY2020$1.1M
FY2021$1.5M
FY2022$1.5M
FY2023$1.6M
FY2024$1.4M
FY2024$1.4M
Net assets
$290K
FY2021▼ -2%
Net assets by fiscal year
FY2020$297K
FY2021$290K
FY2022$309K
FY2023$297K
FY2024$295K
FY2024$312K

From the FY2021 Form 990 (year ending November 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Jan 1972.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $1.3M Management & general 14% · $220K

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 (FY2020); the FY2021 filing did not itemize Part VII
Scott Sanders
District 5 Trustee
$0Pt VII · Sec A
Jamie Knopf
District 4 Trustee
$0Pt VII · Sec A
Chuck Gafrarar
District 3 Trustee
$0Pt VII · Sec A
Jerry White
District 8 Trustee
$0Pt VII · Sec A
George Sieracki
District 7 Trustee
$0Pt VII · Sec A
Pat Slattery
District 6 Trustee
$0Pt VII · Sec A
Robby Harper
District 2 Trustee
$0Pt VII · Sec A
$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.

Provided by the organization

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3 programs · $1.3M · in their own filed words · FY2020
01

Conducts and sanctions race events for the benefit of the members

$1.3Mprogram expense
02

Supply insurance for members during association sanctioned events.

$16Kprogram 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 FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.5M
Ln 12
Fees for servicesLn 2g$1.5M
Gifts and grantsLn 1h$64K
Other incomeLn 4–11$894
Money outPt IX
$1.5M
Ln 25
Programscol B$1.3M
Managementcol C$220K
Owns and owesPt X
$290K
net assets · Ln 32
Cash and savingsLn 1–2$264K
Total assetsLn 16$552K
LiabilitiesLn 26$262K
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$64K
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$23
Other incomeLn 4–11$894
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$156K
SavingsLn 2$108K
Cash and savings togetherLn 1–2$264K
InvestmentsLn 11–13$186K
Land, buildings, equipmentLn 10c$19K
Other assetsLn 15$7K
Total assetsLn 16$552K
LiabilitiesLn 26$262K
Net assetsLn 32$290K
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 FY21End FY21
Cash and savingsLn 1–2$149K$264K
InvestmentsLn 11–13$234K$186K
Land, buildings, equipmentLn 10c$28K$19K
Total assetsLn 16$492K$552K
LiabilitiesLn 26$195K$262K
Net assetsLn 32$297K$290K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$85K$85K
Pension plan contributionsLn 8$3K$3K
Other employee benefitsLn 9$5K$5K
Payroll taxesLn 10$8K$8K
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$17K$17K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$16K$16K
OccupancyLn 16$60K$60K
TravelLn 17$9K$9K
InterestLn 20$6K$6K
Depreciation, depletion and amortizationLn 22$9K$6K$3K
InsuranceLn 23$16K$16K
Other expenses (24a–d)Ln 24$1.3M$1.3M
All other expensesLn 24e$24K$9K$14K
Total functional expensesLn 25$1.5M$1.3M$220K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
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 Viewing $1.5M$1.5M−$7K$290K 990 PDF
FY2020 $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 FY2021 990 (5 parts)
Part I · Summary $1,530,529 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $59,905$63,966
I-9 Program service revenuePrior year $983,507$1,465,646
I-10 Investment incomePrior year $19$23
I-11 Other revenuePrior year $667$894
I-12 Total revenuePrior year $1,044,098$1,530,529
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $104,584$100,768
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,042,983$1,436,587
I-18 Total expensesPrior year $1,147,567$1,537,355
I-19 Revenue less expensesPrior year −$103,469−$6,826
Part VIII · Statement of revenue $1,530,529 across 6 lines filed
VIII-1b Membership dues$63,966
VIII-1h Total contributions, gifts and grants$63,966
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,465,646$1,465,646
VIII-3 Investment incomeExcluded from tax $23$23
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $894$894
VIII-12 Total revenueRelated to mission $1,466,540 · Unrelated business $0 · Excluded from tax $23$1,530,529
Part IX · Statement of functional expenses $1,537,355 across 16 lines filed
IX-7 Other salaries and wagesManagement $85,097$85,097
IX-8 Pension plan contributionsManagement $2,561$2,561
IX-9 Other employee benefitsManagement $4,868$4,868
IX-10 Payroll taxesManagement $8,242$8,242
IX-11b Legal feesManagement $7,682$7,682
IX-11c Accounting feesManagement $1,750$1,750
IX-11g Other fees for servicesManagement $16,542$16,542
IX-12 Advertising and promotionPrograms $2,819$2,819
IX-13 Office expensesManagement $15,980$15,980
IX-16 OccupancyManagement $60,222$60,222
IX-17 TravelPrograms $9,072$9,072
IX-20 InterestPrograms $6,416$6,416
IX-22 Depreciation, depletion and amortizationPrograms $5,936 · Management $2,868$8,804
IX-23 InsurancePrograms $16,449$16,449
IX-24 Other expenses (24a–d)Programs $1,267,274$1,267,274
IX-24e All other expensesPrograms $9,179 · Management $14,398$23,577
IX-25 Total functional expensesPrograms $1,317,145 · Management $220,210 · Fundraising $0$1,537,355
Part X · Balance sheet $551,594 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $40,171$156,003
X-2 Savings and temporary cash investmentsStart of year $109,008$107,681
X-4 Accounts receivableStart of year $73,641$76,355
X-10c Land, buildings and equipment, netStart of year $28,143$18,543
X-12 Other securitiesStart of year $234,310$186,347
X-15 Other assetsStart of year $6,665$6,665
X-16 Total assetsStart of year $491,938$551,594
X-25 Other liabilitiesStart of year $195,284$261,766
X-26 Total liabilitiesStart of year $195,284$261,766
X-32 Total net assets or fund balancesStart of year $296,654$289,828
X-33 Total liabilities and net assetsStart of year $491,938$551,594
Part XI · Reconciliation of net assets $289,828 net assets at year end
XI-1 Total revenue$1,530,529
XI-2 Total expenses$1,537,355
XI-3 Revenue less expenses−$6,826
XI-4 Net assets at start of year$296,654
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$289,828

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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