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Wka Association FY2024 filing

Not tax-deductible

Concord, NC501(c)(7)Since 1985EIN 31-0810666Revenue $1.4M in FY2024

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.

92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · 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
92%
of spending
Looks good: 92% 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
$242K
45% of total assets
Looks good: liabilities are 45% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.4M
-17% vs prior year
Spent
$1.4M
To programs
92%
Net assets
$295K
By yearFY2020–FY2025
Revenue
$1.4M
FY2024▼ -17%
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
$1.4M
FY2024▼ -18%
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
$295K
FY2024▼ -0.7%
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 FY2024 Form 990 (year ending November 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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

92 cents of each dollar spent went to programs.

Program services 92% · $1.2M Management & general 8% · $109K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Scott Sanders
District 5 Trustee
$0Pt VII · Sec A
Todd Brown
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
Dale Swartz JR
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
Dale Coffey
District 1 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.

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Provided by the organization

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3 programs · $1.2M · in their own filed words · FY2023
01

Conducts and sanctions race events for the benefit of the members

$1.2Mprogram expense
02

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

$19Kprogram expense
03

Supply insurance for members during association sanctioned events.

$17Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.4M
Ln 12
Fees for servicesLn 2g$1.3M
Gifts and grantsLn 1h$25K
Other incomeLn 4–11$1K
Money outPt IX
$1.4M
Ln 25
Programscol B$1.2M
Managementcol C$109K
Owns and owesPt X
$295K
net assets · Ln 32
Cash and savingsLn 1–2$236K
Total assetsLn 16$537K
LiabilitiesLn 26$242K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$25K
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$140
Other incomeLn 4–11$1K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$103K
SavingsLn 2$133K
Cash and savings togetherLn 1–2$236K
InvestmentsLn 11–13$186K
Land, buildings, equipmentLn 10c$31K
Other assetsLn 15$9K
Total assetsLn 16$537K
LiabilitiesLn 26$242K
Net assetsLn 32$295K
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 FY24End FY24
Cash and savingsLn 1–2$224K$236K
InvestmentsLn 11–13$186K$186K
Land, buildings, equipmentLn 10c$54K$31K
Total assetsLn 16$550K$537K
LiabilitiesLn 26$253K$242K
Net assetsLn 32$297K$295K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$21K$21K
Payroll taxesLn 10$6K$6K
Legal feesLn 11b$6K$6K
Other fees for servicesLn 11g$2K$2K
Advertising and promotionLn 12$16K$16K
Office expensesLn 13$13K$13K
OccupancyLn 16$47K$47K
TravelLn 17$81K$81K
InterestLn 20$22K$22K
Depreciation, depletion and amortizationLn 22$24K$21K$2K
InsuranceLn 23$17K$17K
Other expenses (24a–d)Ln 24$1.1M$1.1M
All other expensesLn 24e$19K$7K$12K
Total functional expensesLn 25$1.4M$1.2M$109K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.4M$1.4M$17K$312K 990 PDF
FY2024 Viewing $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 $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 FY2024 990 (6 parts)
Part I · Summary $1,351,835 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $49,101$24,875
I-9 Program service revenuePrior year $1,573,955$1,325,463
I-10 Investment incomePrior year $1,667$140
I-11 Other revenuePrior year $4,896$1,357
I-12 Total revenuePrior year $1,629,619$1,351,835
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $112,257$27,253
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,529,643$1,326,733
I-18 Total expensesPrior year $1,641,900$1,353,986
I-19 Revenue less expensesPrior year −$12,281−$2,151
Part VI · Governance 13 of 13 board members independent, 3 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
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 $1,351,835 across 6 lines filed
VIII-1b Membership dues$24,875
VIII-1h Total contributions, gifts and grants$24,875
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,325,463$1,325,463
VIII-3 Investment incomeRelated to mission $140$140
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,357$1,357
VIII-12 Total revenueRelated to mission $1,326,960 · Unrelated business $0 · Excluded from tax $0$1,351,835
Part IX · Statement of functional expenses $1,353,986 across 13 lines filed
IX-7 Other salaries and wagesManagement $21,350$21,350
IX-10 Payroll taxesManagement $5,903$5,903
IX-11b Legal feesManagement $5,619$5,619
IX-11g Other fees for servicesManagement $1,650$1,650
IX-12 Advertising and promotionPrograms $15,806$15,806
IX-13 Office expensesManagement $12,588$12,588
IX-16 OccupancyManagement $47,047$47,047
IX-17 TravelPrograms $80,928$80,928
IX-20 InterestPrograms $21,632$21,632
IX-22 Depreciation, depletion and amortizationPrograms $21,476 · Management $2,172$23,648
IX-23 InsurancePrograms $17,041$17,041
IX-24 Other expenses (24a–d)Programs $1,081,951$1,081,951
IX-24e All other expensesPrograms $6,533 · Management $12,290$18,823
IX-25 Total functional expensesPrograms $1,245,367 · Management $108,619 · Fundraising $0$1,353,986
Part X · Balance sheet $537,200 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $100,410$102,838
X-2 Savings and temporary cash investmentsStart of year $123,823$132,703
X-4 Accounts receivableStart of year $75,880$75,307
X-10c Land, buildings and equipment, netStart of year $54,296$30,648
X-12 Other securitiesStart of year $186,347$186,347
X-15 Other assetsStart of year $9,357$9,357
X-16 Total assetsStart of year $550,113$537,200
X-17 Accounts payable and accrued expensesStart of year −$6,978−$13,845
X-25 Other liabilitiesStart of year $260,187$256,292
X-26 Total liabilitiesStart of year $253,209$242,447
X-32 Total net assets or fund balancesStart of year $296,904$294,753
X-33 Total liabilities and net assetsStart of year $550,113$537,200
Part XI · Reconciliation of net assets $294,753 net assets at year end
XI-1 Total revenue$1,351,835
XI-2 Total expenses$1,353,986
XI-3 Revenue less expenses−$2,151
XI-4 Net assets at start of year$296,904
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$294,753

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

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