Classic Car Collection FY2021 filing

Tax-deductible

Kearney, NE501(c)(3)Arts & CultureEIN 45-2560489Revenue −$1.0M in FY2021

On file with the IRSccckearney.com3600 E Hwy 30 Suite B, 68847-9790 · Kearney, NETax-exempt since Jun 2012Publicly supported charity — 170(b)(1)(A)(vi)

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Celebrate the heritage of the automobile and its place in american culture by continuing to educate and entertain the general public

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
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
3 of 5
filings with a surplus
Average deficit $202K a year · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 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
$305K
To programs
77%
Net assets
$7K
By yearFY2021–FY2025
Revenue
−$1.0M
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021−$1.0M
FY2022$164K
FY2023$255K
FY2024$110K
FY2025$240K
Expenses
$305K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$305K
FY2022$60K
FY2023$139K
FY2024$113K
FY2025$131K
Net assets
$7K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$7K
FY2022$111K
FY2023$227K
FY2024$224K
FY2025$442K

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 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 Jun 2012.

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

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $236K Management & general 23% · $69K

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 (FY2020); the FY2021 filing did not itemize Part VII
Board Member
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Classic Car Collection 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

Educate and entertain the public about the automobile's heritage and cultural impact.

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Provided by the organization

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3 programs · $236K · in their own filed words · FY2020
01

Other program expense

$236Kprogram expense
02

Maintaining exhibits and building

$232program expense
03

Maintaining car collection

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$15K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
−$1.0M
Ln 12
Gifts and grantsLn 1h$108K
Fees for servicesLn 2g$48K
Money outPt IX
$305K
Ln 25
Programscol B$236K
Managementcol C$69K
Owns and owesPt X
$7K
net assets · Ln 32
Cash and savingsLn 1–2$13K
Total assetsLn 16$8K
LiabilitiesLn 26$1K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$108K
Fees for servicesLn 2g$48K
Gains on assetsLn 7−$3.6M
Total revenueLn 12−$1.0M
Assets in detailPt X, end of year
CashLn 1$13K
Cash and savings togetherLn 1–2$13K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$8K
LiabilitiesLn 26$1K
Net assetsLn 32$7K
OperationsPt I, VI
EmployeesI 55
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$5K$13K
Land, buildings, equipmentLn 10c$461K$0
Total assetsLn 16$4.8M$8K
LiabilitiesLn 26$3.4M$1K
Net assetsLn 32$1.3M$7K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$10K$10K
Advertising and promotionLn 12$322$322
Office expensesLn 13$1K$800$200
OccupancyLn 16$238K$190K$48K
Depreciation, depletion and amortizationLn 22$36K$29K$7K
InsuranceLn 23$10K$8K$2K
Other expenses (24a–d)Ln 24$8K$6K$2K
All other expensesLn 24e$2K$1K$469
Total functional expensesLn 25$305K$236K$69K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $240K$131K$109K$442K 990 PDF
FY2024 $110K$113K−$3K$224K 990 PDF
FY2023 $255K$139K$116K$227K 990 PDF
FY2022 $164K$60K$104K$111K 990 PDF
FY2021 Viewing −$1.0M$305K−$1.3M$7K 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 (6 parts)
Part I · Summary −$1,030,214 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,174$107,566
I-9 Program service revenuePrior year $53,221$47,944
I-10 Investment incomePrior year −$16,685−$3,563,160
I-11 Other revenuePrior year $114$2,377,436
I-12 Total revenuePrior year $42,824−$1,030,214
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 $71,676$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $306,992$305,174
I-18 Total expensesPrior year $378,668$305,174
I-19 Revenue less expensesPrior year −$335,844−$1,335,388
Part VI · Governance 11 of 11 board members independent, 3 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue −$1,030,214 across 6 lines filed
VIII-1f All other contributions, gifts and grants$107,566
VIII-1h Total contributions, gifts and grants$107,566
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $47,944$47,944
VIII-7 Net gain or loss on sales of assetsRelated to mission −$3,563,160−$3,563,160
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,377,436$2,377,436
VIII-12 Total revenueRelated to mission −$1,137,780 · Unrelated business $0 · Excluded from tax $0−$1,030,214
Part IX · Statement of functional expenses $305,174 across 8 lines filed
IX-11c Accounting feesManagement $10,100$10,100
IX-12 Advertising and promotionPrograms $322$322
IX-13 Office expensesPrograms $800 · Management $200$1,000
IX-16 OccupancyPrograms $190,234 · Management $47,559$237,793
IX-22 Depreciation, depletion and amortizationPrograms $28,917 · Management $7,229$36,146
IX-23 InsurancePrograms $8,115 · Management $2,029$10,144
IX-24 Other expenses (24a–d)Programs $6,438 · Management $1,700$8,138
IX-24e All other expensesPrograms $1,062 · Management $469$1,531
IX-25 Total functional expensesPrograms $235,888 · Management $69,286 · Fundraising $0$305,174
Part X · Balance sheet $8,371 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $4,933$12,511
X-8 Inventories for sale or useStart of year $4,537−$4,140
X-10c Land, buildings and equipment, netStart of year $460,659$0
X-15 Other assetsStart of year $4,288,831$0
X-16 Total assetsStart of year $4,758,960$8,371
X-17 Accounts payable and accrued expensesStart of year $21,582$1,455
X-26 Total liabilitiesStart of year $3,416,656$1,455
X-27 Net assets without donor restrictionsStart of year −$1,952,356$6,916
X-28 Net assets with donor restrictionsStart of year $3,294,660$0
X-32 Total net assets or fund balancesStart of year $1,342,304$6,916
X-33 Total liabilities and net assetsStart of year $4,758,960$8,371
Part XI · Reconciliation of net assets $6,916 net assets at year end
XI-1 Total revenue−$1,030,214
XI-2 Total expenses$305,174
XI-3 Revenue less expenses−$1,335,388
XI-4 Net assets at start of year$1,342,304
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,916

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

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