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
82 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
4 people listed on the 990; $10K paid to officers and key staff.
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.
See Raceway Gives Foundation executive salaries →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.
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 FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $124K | $52K |
| Land, buildings, equipmentLn 10c | $694K | $694K |
| Total assetsLn 16 | $818K | $754K |
| LiabilitiesLn 26 | $44K | $598 |
| Net assetsLn 32 | $774K | $753K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $109K | $109K | ||
| Grants to domestic individualsLn 2 | $27K | $27K | ||
| Pay of current officers, directors and key staffLn 5 | $10K | $10K | ||
| Accounting feesLn 11c | $8K | $8K | ||
| Other fees for servicesLn 11g | $28K | $14K | $14K | |
| Advertising and promotionLn 12 | $9K | $9K | ||
| Other expenses (24a–d)Ln 24 | $28K | $19K | $9K | |
| All other expensesLn 24e | $48 | $48 | ||
| Total functional expensesLn 25 | $220K | $180K | $40K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS Jun 9, 2026 | $221K | $215K | $6K | $706K | 990 PDF |
| FY2024Filed with the IRS Aug 5, 2025 | $213K | $266K | −$53K | $700K | 990 PDF |
| FY2023 ViewingFiled with the IRS Aug 23, 2024 | $199K | $220K | −$21K | $753K | 990 PDF |
| FY2022Filed with the IRS Dec 22, 2023 | $875K | $187K | $688K | $774K | 990 PDF |
| FY2021Filed with the IRS Nov 15, 2022 | $264K | $678K | −$414K | $86K | 990 PDF |
| FY2020Filed with the IRS Nov 15, 2021 | $755K | $254K | $500K | $500K | 990 PDF |
Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $198,513 revenue, 12 lines filed
Part VI · Governance 3 of 4 board members independent, 2 to look at
Part VIII · Statement of revenue $198,513 across 5 lines filed
Part IX · Statement of functional expenses $219,591 across 8 lines filed
Part X · Balance sheet $753,523 assets, 11 lines filed
Part XI · Reconciliation of net assets $752,925 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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