Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2020.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
98 cents of each dollar spent went to programs.
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.
Larry Albus’s $35K as Director is at the 26th percentile of top reported officer pay among 1993 $100K–1M youth development 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
| Name | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Larry Albus | $35,000 | $31,500 | $10,500 |
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
Empowers underserved youth and military families through motorsports-linked education and career programs.
Questions for Raceway Gives Foundation
Your first name shows with your question. Raceway Gives Foundation answers here, for everyone.
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Road to Indy
To foster the development of talent among diverse and underserved youth, scholarship programs supporting participation in the gateway I-drive and ignite racing series will be developed for deserving talent.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $0 | $509K |
| Total assetsLn 16 | $0 | $509K |
| LiabilitiesLn 26 | $0 | $9K |
| Net assetsLn 32 | $0 | $500K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Other fees for servicesLn 11g | $244K | $241K | $3K | |
| Office expensesLn 13 | $894 | $894 | ||
| Other expenses (24a–d)Ln 24 | $9K | $9K | $511 | |
| Total functional expensesLn 25 | $254K | $250K | $4K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $221K | $215K | $6K | $706K | 990 PDF |
| FY2024 | $213K | $266K | −$53K | $700K | 990 PDF |
| FY2023 | $199K | $220K | −$21K | $753K | 990 PDF |
| FY2022 | $875K | $187K | $688K | $774K | 990 PDF |
| FY2021 | $264K | $678K | −$414K | $86K | 990 PDF |
| FY2020 Viewing | $755K | $254K | $500K | $500K | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $754,610 revenue, 12 lines filed
Part VI · Governance 3 of 3 board members independent, 2 to look at
Part VIII · Statement of revenue $754,610 across 5 lines filed
Part IX · Statement of functional expenses $254,295 across 3 lines filed
Part X · Balance sheet $509,265 assets, 6 lines filed
Part XI · Reconciliation of net assets $500,315 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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