Civic Intelligence

Air Race Classic Inc.

990 • Fiscal year 2023 • EIN 03-0443003

Oct 01, 2022 to Sep 30, 2023 • Filed on Nov 20, 2023

Organization ProfileN/A
107 Kent DriveNorth Wales, PA 19454

(267) 261-7667

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

72nd percentile

0.03x

Higher debt load relative to assets than 72% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

79th percentile

0.06x

Higher debt load relative to revenue than 79% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

53rd percentile

5.0%

Higher net margin than 53% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

52nd percentile

2.1%

Faster asset growth than 52% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

54th percentile

7.9%

Faster revenue growth than 54% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$271,466

Up $5,473 (+2.1%) from 2022

Net Assets

Up

$263,508

Up $6,522 (+2.5%) from 2022

Liabilities

Down

$7,958

Down $1,049 (-12%) from 2022

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin53rd percentile

Revenue

Up

$131,214

Up $9,585 (+7.9%) from 2022

Expenses

Up

$124,692

Up $25,135 (+25%) from 2022

Net Income

Down

$6,522

Down $15,550 (-70%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2010: $65,825Liabilities 2010: $500Net Assets 2010: $65,3252010Assets 2011: $81,309Liabilities 2011: $500Net Assets 2011: $80,8092011Assets 2012: $98,955Liabilities 2012: $500Net Assets 2012: $98,4552012Assets 2013: $105,403Liabilities 2013: $0Net Assets 2013: $105,4032013Assets 2014: $137,883Liabilities 2014: $2,2752014Assets 2015: $178,238Liabilities 2015: $5,4502015Assets 2016: $198,699Liabilities 2016: $4,100Net Assets 2016: $194,5992016Assets 2017: $208,178Liabilities 2017: $3,1252017Assets 2018: $244,426Liabilities 2018: $2,825Net Assets 2018: $241,6012018Assets 2019: $231,459Liabilities 2019: $2,225Net Assets 2019: $229,2342019Assets 2020: $223,051Liabilities 2020: $12,993Net Assets 2020: $210,0582020Assets 2021: $246,007Liabilities 2021: $11,093Net Assets 2021: $234,9142021Assets 2022: $265,993Liabilities 2022: $9,007Net Assets 2022: $256,9862022Assets 2023: $271,466Liabilities 2023: $7,958Net Assets 2023: $263,5082023Assets 2024: $290,877Liabilities 2024: $7,409Net Assets 2024: $283,4682024Assets 2025: $305,981Liabilities 2025: $8,234Net Assets 2025: $297,7472025

Highlighted filing

2023

Assets$271,466
Liabilities$7,958
Net Assets$263,508
Open 2023 Filing

Operations Trend

Revenue Growth54th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200K$150K$100K$50K$0-$50KRevenue 2010: $81,327Expenses 2010: $59,858Net Income 2010: $21,4692010Revenue 2011: $89,857Expenses 2011: $74,373Net Income 2011: $15,4842011Revenue 2012: $84,299Expenses 2012: $66,653Net Income 2012: $17,6462012Revenue 2013: $80,684Expenses 2013: $74,236Net Income 2013: $6,4482013Revenue 2014: $94,635Expenses 2014: $64,430Net Income 2014: $30,2052014Revenue 2015: $113,830Expenses 2015: $76,650Net Income 2015: $37,1802015Revenue 2016: $165,551Expenses 2016: $143,740Net Income 2016: $21,8112016Revenue 2017: $131,171Expenses 2017: $120,717Net Income 2017: $10,4542017Revenue 2018: $114,209Expenses 2018: $77,661Net Income 2018: $36,5482018Revenue 2019: $102,369Expenses 2019: $114,736Net Income 2019: -$12,3672019Revenue 2020: $31,440Expenses 2020: $50,616Net Income 2020: -$19,1762020Revenue 2021: $55,899Expenses 2021: $31,043Net Income 2021: $24,8562021Revenue 2022: $121,629Expenses 2022: $99,557Net Income 2022: $22,0722022Revenue 2023: $131,214Expenses 2023: $124,692Net Income 2023: $6,5222023Revenue 2024: $150,846Expenses 2024: $130,886Net Income 2024: $19,9602024Revenue 2025: $114,696Expenses 2025: $100,417Net Income 2025: $14,2792025

Highlighted filing

2023

Revenue$131,214
Expenses$124,692
Net Income$6,522
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Nov 20, 2023
Return Version
2022v5.0
Gross Receipts
$213,418
Mission and Program Overview

Mission

To develop and advance aviation education

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$247,538$253,011▲ $5,473
Inventories for Sale or Use$6,253$6,253→ $0
Land, Buildings, and Equipment, Net$5,387$5,387→ $0
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$265,993$271,466▲ $5,473
Other Assets Total$6,815$6,815→ $0
Liabilities
Deferred Revenue$9,007$7,958▼ $1,049
Total Liabilities$9,007$7,958▼ $1,049
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$185,859$188,218▲ $2,359
Net Assets With Donor Restrictions$71,127$75,290▲ $4,163
Total Net Assets Fund Balance$256,986$263,508▲ $6,522
Total Liabilities and Net Assets / Fund Balance$265,993$271,466▲ $5,473

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,387-$5,387
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Donna HarrisPresident
Lin CaywoodVice President
Sherry KandleSecretary
Linda EvansTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$46,029
Program Service Revenue
$77,225
Investment Income
$4,264
Other Revenue
$3,696
All Other Contributions
$46,029
Change in Net Assets
$6,522
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$124,692
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$13,148$39,915-$13,148
All Other Expenses$6,786$3,356-$10,142
Advertising$3,399--$3,399
Insurance-$3,197-$3,197
Fees for Services Legal-$1,794-$1,794
Fees for Services Accounting-$1,165-$1,165
Travel-$519-$519
Office Expenses-$22-$22
Total Functional Expenses$74,724$49,968$0$124,692
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Air Race Classic
EIN
03-0443003
Phone
2672617667
Address
107 KENT DRIVE, NORTH WALES, PA 19454

Signing Officer

Name
Linda Evans
Title
Treasurer
Signed
2023-11-20
Discuss with paid preparer
Yes

Organization Details

Voting Board Members
4
Independent Board Members
0
Employees
0

Preparer

Firm
Mcgrath Nothman Pc
Address
11000 N SCOTTSDALE RD STE 220, SCOTTSDALE, AZ 85254
Preparer
Paul R Nothman
Phone
4809511040
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01007
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt03882
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt06427
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt019101
IRS990ScheduleA/InvestmentIncomeCYPct00.04100
IRS990ScheduleA/InvestmentIncomePYPct00.03020
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IRS990ScheduleA/OtherIncome509Grp/TotalAmt0-3234
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearAmt04777
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearMinus1YearAmt0-5272
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IRS990ScheduleA/PublicSupportPY509Pct00.97700
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0125134
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt054892
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt046026
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0100527
IRS990ScheduleA/Total509Grp/TotalAmt0449833
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0134339
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0118600
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt055899
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt049908
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0106954
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0465700
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt05387
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05387
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05387
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0265993
IRS990/TotalAssetsEOYAmt0271466
IRS990/TotalAssetsGrp/BOYAmt0265993
IRS990/TotalAssetsGrp/EOYAmt0271466
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt046029
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt049968
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt074724
IRS990/TotalFunctionalExpensesGrp/TotalAmt0124692
IRS990/TotalGrossUBIAmt06308
IRS990/TotalLiabilitiesBOYAmt09007
IRS990/TotalLiabilitiesEOYAmt07958
IRS990/TotalLiabilitiesGrp/BOYAmt09007
IRS990/TotalLiabilitiesGrp/EOYAmt07958
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0256986
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0263508
IRS990/TotalProgramServiceExpensesAmt074724
IRS990/TotalProgramServiceRevenueAmt077225
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt078877
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0131214
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt06308
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0265993
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0271466
IRS990/TravelGrp/ManagementAndGeneralAmt0519
IRS990/TravelGrp/TotalAmt0519
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/USAddress/AddressLine1Txt0107 KENT DRIVE
IRS990/USAddress/CityNm0NORTH WALES
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019454
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LINDA EVANS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AIR RACE CLASSIC
ReturnHeader/Filer/BusinessNameControlTxt0AIRR
ReturnHeader/Filer/EIN0030443003
ReturnHeader/Filer/PhoneNum02672617667
ReturnHeader/Filer/USAddress/AddressLine1Txt0107 KENT DRIVE
ReturnHeader/Filer/USAddress/CityNm0NORTH WALES
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd019454
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0860804062
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCGRATH NOTHMAN PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt011000 N SCOTTSDALE RD STE 220
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SCOTTSDALE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AZ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd085254
ReturnHeader/PreparerPersonGrp/PhoneNum04809511040
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Paul R Nothman
ReturnHeader/ReturnTs02023-11-20T11:17:29-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LINDA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0EVANS
ReturnHeader/TaxPeriodBeginDt02022-10-01
ReturnHeader/TaxPeriodEndDt02023-09-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$271,466
Liabilities
$7,958
Net assets
$263,508
Revenue
$131,214
Expenses
$124,692
Net income
$6,522
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.06$0.08$2.98$1.15$1.00$0.14
2024Detailed filing. Detailed filing data is available for this year.$2.91$0.07$2.83$1.51$1.31$0.20
2023Detailed filing. Detailed filing data is available for this year.$2.71$0.08$2.64$1.31$1.25$0.07
2022Detailed filing. Detailed filing data is available for this year.$2.66$0.09$2.57$1.22$1.00$0.22
2021Detailed filing. Detailed filing data is available for this year.$2.46$0.11$2.35$0.56$0.31$0.25
2020Detailed filing. Detailed filing data is available for this year.$2.23$0.13$2.10$0.31$0.51$0.19
2019Detailed filing. Detailed filing data is available for this year.$2.31$0.02$2.29$1.02$1.15$0.12
2018Detailed filing. Detailed filing data is available for this year.$2.44$0.03$2.42$1.14$0.78$0.37
2017Summary only. Only limited summary data is available for this year.$2.08$0.03$1.31$1.21$0.10
2016Detailed filing. Detailed filing data is available for this year.$1.99$0.04$1.95$1.66$1.44$0.22
2015Summary only. Only limited summary data is available for this year.$1.78$0.05$1.14$0.77$0.37
2014Summary only. Only limited summary data is available for this year.$1.38$0.02$0.95$0.64$0.30
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.05$0.00$1.05$0.81$0.74$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$0.01$0.98$0.84$0.67$0.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.81$0.01$0.81$0.90$0.74$0.15
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.66$0.01$0.65$0.81$0.60$0.21