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Laguna Seca Raceway Foundation FY2024 filing

Tax-deductible

Monterey, CA501(c)(3)Since 2002Recreation & Sports EIN 75-3088903Revenue $726K in FY2024

On file with the IRSPo Box 2538, 93942-2538 · Monterey, CATax-exempt since Apr 2003Publicly supported charity — 170(b)(1)(A)(vi)

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Laguna Seca Raceway Foundation raises funds for capital improvements at the Laguna Seca recreational area to help improve the overall participant and spectator experience for the benefit of the entire community of monterey county.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
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 4
filings with a surplus
Average surplus $17K a year · 6% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Looks good: 9.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $122K
Fine: 1 funder names 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
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$726K
+727% vs prior year
Spent
$515K
To programs
97%
Net assets
$721K
By yearFY2022–FY2025
Revenue
$726K
FY2024▲ +727%
Tap a bar for its year
Revenue by fiscal year
FY2022$313K
FY2023$88K
FY2024$726K
FY2025$22K
Expenses
$515K
FY2024▲ ×15
Tap a bar for its year
Expenses by fiscal year
FY2022$16K
FY2023$34K
FY2024$515K
FY2025$515K
Net assets
$721K
FY2024▲ +44%
Tap a bar for its year
Net assets by fiscal year
FY2022$433K
FY2023$500K
FY2024$721K
FY2025$231K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
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 Apr 2003.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $501K Management & general 3% · $14K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
Arthur Cook
President
$0Pt VII · Sec A
Carl Moore
Vice President
$0Pt VII · Sec A
Steve Fields
Treasurer
$0Pt VII · Sec A
Mary Schley
Secretary
$0Pt VII · Sec A
Richard Renard
Executive Director
$0Pt VII · Sec A
See Laguna Seca Raceway Foundation 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 capital improvements at Laguna Seca Recreational Area.

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Provided by the organization

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1 program · $501K · in their own filed words · FY2024
01

Raised funds for capital improvement projects for laguna seca raceway. Scooters were purchased and donated to the laguna seca volunteer association in 2024.

$501Kprogram 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
Classic Sports Racing GroupFY2024$122K
Total grants receivedfrom 1 funder$122K
Grants paid · 2 grants · $1.0M · 2024–2025
Friends of Laguna SecaCA · FY2025$500,000
Friends of Laguna SecaCA · FY2024$500,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$726K
Ln 12
Gifts and grantsLn 1h$758K
Investment incomeLn 3$14K
Money outPt IX
$515K
Ln 25
Programscol B$501K
Managementcol C$14K
Owns and owesPt X
$721K
net assets · Ln 32
Cash and savingsLn 1–2$394K
Total assetsLn 16$721K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$758K
Fundraising eventsLn 1c$150K
Investment incomeLn 3$14K
Gains on assetsLn 7$3K
Total revenueLn 12$726K
Assets in detailPt X, end of year
CashLn 1$394K
Cash and savings togetherLn 1–2$394K
InvestmentsLn 11–13$327K
Total assetsLn 16$721K
LiabilitiesLn 26$0
Net assetsLn 32$721K
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
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$300K$394K
InvestmentsLn 11–13$200K$327K
Total assetsLn 16$500K$721K
LiabilitiesLn 26$0$0
Net assetsLn 32$500K$721K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$500K$500K
Accounting feesLn 11c$2K$2K
Investment management feesLn 11f$3K$3K
Other fees for servicesLn 11g$135$135
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$996$996
Information technologyLn 14$294$294
InsuranceLn 23$1K$574$573
Other expenses (24a–d)Ln 24$7K$7K
Total functional expensesLn 25$515K$501K$14K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $22K$515K−$493K$231K 990 PDF
FY2024 Viewing $726K$515K$210K$721K 990 PDF
FY2023 $88K$34K$54K$500K 990 PDF
FY2022 $313K$16K$297K$433K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $725,611 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $124,035$757,734
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $6,432$14,378
I-11 Other revenuePrior year −$42,687−$46,501
I-12 Total revenuePrior year $87,780$725,611
I-13 Grants and similar amounts paidPrior year $26,452$500,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $7,230$15,147
I-18 Total expensesPrior year $33,682$515,147
I-19 Revenue less expensesPrior year $54,098$210,464
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 $725,611 across 7 lines filed
VIII-1c Fundraising events$149,913
VIII-1f All other contributions, gifts and grants$607,821
VIII-1h Total contributions, gifts and grants$757,734
VIII-3 Investment incomeExcluded from tax $11,826$11,826
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,552$2,552
VIII-8 Net income from fundraising eventsExcluded from tax −$46,501−$46,501
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$32,123$725,611
Part IX · Statement of functional expenses $515,147 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $500,000$500,000
IX-11c Accounting feesManagement $2,092$2,092
IX-11f Investment management feesManagement $2,511$2,511
IX-11g Other fees for servicesManagement $135$135
IX-12 Advertising and promotionManagement $1,451$1,451
IX-13 Office expensesManagement $996$996
IX-14 Information technologyPrograms $294$294
IX-23 InsurancePrograms $574 · Management $573$1,147
IX-24 Other expenses (24a–d)Management $6,521$6,521
IX-25 Total functional expensesPrograms $500,868 · Management $14,279 · Fundraising $0$515,147
Part X · Balance sheet $721,164 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $300,443$393,718
X-12 Other securitiesStart of year $199,835$327,446
X-16 Total assetsStart of year $500,278$721,164
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $500,278$721,164
X-33 Total liabilities and net assetsStart of year $500,278$721,164
Part XI · Reconciliation of net assets $721,164 net assets at year end
XI-1 Total revenue$725,611
XI-2 Total expenses$515,147
XI-3 Revenue less expenses$210,464
XI-4 Net assets at start of year$500,278
XI-5 Net unrealized gains (losses) on investments$10,422
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$721,164

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

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