Foxfield Racing LLC FY2021 filing

Tax-deductible

Charlottesvle, VA501(c)(3)Foundations & GrantmakersEIN 81-5011713

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The organization is dedicated to the preservation of open space and the conservation of natural resources in virginia, and furthers these purposes by both implementing methods to preserve and conserve land, and using legal means to prohibit the sale and/or improper development of natural resources. To facilitate its mission, in 2020 the organization expanded its activities to include the operation of community events on property known as Foxfield in albemarle county, virginia, thereby preserving such real estate as open space available to the public for community activities which are consistent with its historic use, such as a biannual steeplechase (including Foxfield races) and other events that have taken place on the property since 1978.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
$47K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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
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
4 of 4
filings with a surplus
Average surplus $326K a year · 23% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$47K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 9.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $143K
Looks good: 5 funders name it on their filings; 3 or more.
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
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$944K
+43% vs prior year
Spent
$672K
To programs
89%
Net assets
$666K
By yearFY2020–FY2024
Revenue
$944K
FY2021▲ +43%
Revenue by fiscal year
FY2020$659K
FY2021$944K
FY2022$1.8M
FY2024$2.3M
Expenses
$672K
FY2021▲ +154%
Expenses by fiscal year
FY2020$265K
FY2021$672K
FY2022$1.4M
FY2024$1.9M
Net assets
$666K
FY2021▲ +69%
Net assets by fiscal year
FY2020$394K
FY2021$666K
FY2022$988K
FY2024$2.0M

From the FY2021 Form 990 · 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 2018.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $599K Management & general 5% · $31K Fundraising 6% · $42K

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

4 people listed on the 990; $47K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$46,942Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Kelsey Cox’s $76K as Executive Director is at the 15th percentile of top reported officer pay among 1690 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2022FY2021
Kelsey Cox$75,659$87,118$46,942

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Preserves Virginia's open spaces and natural resources through land conservation and legal action.

Provided by the organization

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3 programs · $599K · in their own filed words · FY2021
01

Run the fall foxfield races in line with the steeplechase tradition in albemarle county. The successful races are required within the agreement to maintain the open space and support the philanthropic aims of the organization.

$421Kprogram expense
02

Establish and Support a Long-Term Philanthropic Partnership

Garth road preservation supported habitat for humanity with a $50,000 cash donation and help in spreading the habitat mission to the foxfield community.

$89Kprogram expense
03

Improve, maintain and conserve the foxfield property and its open space. The property is then available for the races and other events as allowed by the conservation easement.

$89Kprogram 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
See all 5 funders →
Grants paid · 5 grants · $274K · 2021–2024

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$944K
Ln 12
Gifts and grantsLn 1h$627K
Fees for servicesLn 2g$297K
Other incomeLn 4–11$20K
Money outPt IX
$672K
Ln 25
Programscol B$599K
Managementcol C$31K
Fundraisingcol D$42K
Owns and owesPt X
$666K
net assets · Ln 32
Cash and savingsLn 1–2$531K
Total assetsLn 16$666K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$627K
Noncash giftsLn 1g$40K
Fees for servicesLn 2g$297K
Investment incomeLn 3$14
Other incomeLn 4–11$20K
Gains on assetsLn 7−$451
Total revenueLn 12$944K
Assets in detailPt X, end of year
CashLn 1$531K
Cash and savings togetherLn 1–2$531K
InvestmentsLn 11–13$92K
Land, buildings, equipmentLn 10c$43K
Total assetsLn 16$666K
LiabilitiesLn 26$0
Net assetsLn 32$666K
OperationsPt I, VI
EmployeesI 53
VolunteersI 628
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
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$299K$531K
InvestmentsLn 11–13$62K$92K
Land, buildings, equipmentLn 10c$34K$43K
Total assetsLn 16$395K$666K
LiabilitiesLn 26$229$0
Net assetsLn 32$394K$666K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$50K$50K
Pay of current officers, directors and key staffLn 5$51K$36K$8K$8K
Other salaries and wagesLn 7$92K$83K$9K
Other employee benefitsLn 9$20K$18K$2K
Payroll taxesLn 10$9K$8K$929
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$9K$9K
Advertising and promotionLn 12$41K$33K$8K
Office expensesLn 13$5K$4K$752$752
Information technologyLn 14$4K$2K$700$700
OccupancyLn 16$36K$25K$5K$5K
Depreciation, depletion and amortizationLn 22$10K$10K
InsuranceLn 23$16K$12K$2K$2K
Other expenses (24a–d)Ln 24$302K$294K$4K$4K
All other expensesLn 24e$24K$24K
Total functional expensesLn 25$672K$599K$31K$42K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.3M$1.9M$318K$2.0M 990 PDF
FY2023 Not on file
FY2022 $1.8M$1.4M$322K$988K 990 PDF
FY2021 Viewing $944K$672K$272K$666K 990 PDF
FY2020 $659K$265K$394K$394K 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 $944,162 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $659,168$627,339
I-9 Program service revenuePrior year $0$296,716
I-10 Investment incomePrior year $0−$437
I-11 Other revenuePrior year $0$20,544
I-12 Total revenuePrior year $659,168$944,162
I-13 Grants and similar amounts paidPrior year $0$50,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $66,258$173,315
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $198,658$448,919
I-18 Total expensesPrior year $264,916$672,234
I-19 Revenue less expensesPrior year $394,252$271,928
Part VIII · Statement of revenue $944,162 across 8 lines filed
Lines not itemized here account for $2,544 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$627,339
VIII-1g Noncash contributions (included above)$40,209
VIII-1h Total contributions, gifts and grants$627,339
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $296,716$296,716
VIII-3 Investment incomeExcluded from tax $14$14
VIII-6 Net rental income or lossExcluded from tax $18,000$18,000
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$451−$451
VIII-12 Total revenueRelated to mission $296,716 · Unrelated business $0 · Excluded from tax $20,107$944,162
Part IX · Statement of functional expenses $672,234 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $50,000$50,000
IX-5 Pay of current officers, directors and key staffPrograms $35,854 · Management $7,683 · Fundraising $7,683$51,220
IX-7 Other salaries and wagesPrograms $83,185 · Fundraising $9,243$92,428
IX-9 Other employee benefitsPrograms $18,337 · Fundraising $2,037$20,374
IX-10 Payroll taxesPrograms $8,364 · Fundraising $929$9,293
IX-11b Legal feesManagement $1,176$1,176
IX-11c Accounting feesManagement $9,194$9,194
IX-12 Advertising and promotionPrograms $32,515 · Fundraising $8,164$40,679
IX-13 Office expensesPrograms $3,510 · Management $752 · Fundraising $752$5,014
IX-14 Information technologyPrograms $2,100 · Management $700 · Fundraising $700$3,500
IX-16 OccupancyPrograms $25,287 · Management $5,419 · Fundraising $5,419$36,125
IX-22 Depreciation, depletion and amortizationPrograms $10,227$10,227
IX-23 InsurancePrograms $11,537 · Management $2,472 · Fundraising $2,472$16,481
IX-24 Other expenses (24a–d)Programs $294,064 · Management $4,074 · Fundraising $4,101$302,239
IX-24e All other expensesPrograms $24,284$24,284
IX-25 Total functional expensesPrograms $599,264 · Management $31,470 · Fundraising $41,500$672,234
Part X · Balance sheet $666,293 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $299,281$530,552
X-10c Land, buildings and equipment, netStart of year $33,683$43,364
X-11 Publicly traded securitiesStart of year $61,630$92,377
X-16 Total assetsStart of year $394,594$666,293
X-26 Total liabilitiesStart of year $229$0
X-32 Total net assets or fund balancesStart of year $394,365$666,293
X-33 Total liabilities and net assetsStart of year $394,594$666,293
Part XI · Reconciliation of net assets $666,293 net assets at year end
XI-1 Total revenue$944,162
XI-2 Total expenses$672,234
XI-3 Revenue less expenses$271,928
XI-4 Net assets at start of year$394,365
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$666,293

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

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