Civic Intelligence

Cabarrus County Tourism Authority

990 • Fiscal year 2016 • EIN 26-2726341

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 18, 2016

Organization ProfileWWW.CABARRUSCVB.COM
10099 Weddington Rd No 102Concord, NC 28027

(800) 848-3740

Siviq Scores

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

Liabilities / Assets

35th percentile

0.08x

Higher debt load relative to assets than 35% of similar nonprofits.

2016 filings • NTEE S • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

14th percentile

0.05x

Higher debt load relative to revenue than 14% of similar nonprofits.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2016

Net Margin

69th percentile

16%

Higher net margin than 69% of similar nonprofits.

2016 filings • NTEE S • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

17th percentile

$131,794

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Balance Sheet
Liabilities / Assets35th percentile

Assets

$3,833,090

No earlier filing loaded for comparison.

Net Assets

$3,538,406

No earlier filing loaded for comparison.

Liabilities

$294,684

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin69th percentile

Revenue

$5,444,428

No earlier filing loaded for comparison.

Expenses

$4,584,546

No earlier filing loaded for comparison.

Net Income

$859,882

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$10M$5.0M$0Assets 2016: $3,833,090Liabilities 2016: $294,684Net Assets 2016: $3,538,4062016Assets 2017: $4,279,825Liabilities 2017: $580,638Net Assets 2017: $3,699,1872017Assets 2018: $3,894,977Liabilities 2018: $417,185Net Assets 2018: $3,477,7922018Assets 2019: $4,249,810Liabilities 2019: $576,106Net Assets 2019: $3,673,7042019Assets 2020: $3,846,907Liabilities 2020: $596,931Net Assets 2020: $3,249,9762020Assets 2021: $5,282,456Liabilities 2021: $1,049,853Net Assets 2021: $4,232,6032021Assets 2022: $8,063,508Liabilities 2022: $2,092,621Net Assets 2022: $5,970,8872022Assets 2023: $7,825,518Liabilities 2023: $2,235,540Net Assets 2023: $5,589,9782023Assets 2025: $9,884,202Liabilities 2025: $2,938,667Net Assets 2025: $6,945,5352025

Highlighted filing

2016

Assets$3,833,090
Liabilities$294,684
Net Assets$3,538,406
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$10M$5.0M$0-$5.0MRevenue 2016: $5,444,428Expenses 2016: $4,584,546Net Income 2016: $859,8822016Revenue 2017: $5,586,931Expenses 2017: $5,426,150Net Income 2017: $160,7812017Revenue 2018: $5,736,244Expenses 2018: $5,957,639Net Income 2018: -$221,3952018Revenue 2019: $5,770,181Expenses 2019: $5,574,269Net Income 2019: $195,9122019Revenue 2020: $4,157,600Expenses 2020: $4,581,328Net Income 2020: -$423,7282020Revenue 2021: $3,753,868Expenses 2021: $2,771,239Net Income 2021: $982,6292021Revenue 2022: $6,458,365Expenses 2022: $4,720,081Net Income 2022: $1,738,2842022Revenue 2023: $7,240,239Expenses 2023: $7,621,148Net Income 2023: -$380,9092023Revenue 2025: $7,770,158Expenses 2025: $7,375,763Net Income 2025: $394,3952025

Highlighted filing

2016

Revenue$5,444,428
Expenses$4,584,546
Net Income$859,882
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 18, 2016
Return Version
2015v2.1
Gross Receipts
$5,444,428
Mission and Program Overview

Mission

Drive visitation to cabarrus county to generate the maximum impact through hotel stays and visitor spending.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$2,814,157$3,296,159▲ $482,002
Cash and Non-Interest-Bearing Accounts$2,315,357$3,060,150▲ $744,793
Accounts Receivable$415,128$451,494▲ $36,366
Land, Buildings, and Equipment, Net$253,799$242,247▼ $11,552
Pd in Cap Srpls Land Bldg Eqp Fund$0$242,247▲ $242,247
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$2,984,284$3,833,090▲ $848,806
Other Assets Total$0$79,199▲ $79,199
Liabilities
Accounts Payable and Accrued Expenses$170,127$162,253▼ $7,874
Other Liabilities$0$132,431▲ $132,431
Total Liabilities$170,127$294,684▲ $124,557
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,814,157$3,538,406▲ $724,249
Total Liabilities and Net Assets / Fund Balance$2,984,284$3,833,090▲ $848,806

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$87,092$159,790-
Equipment$7,826$63,430-
Leasehold Improvements$147,329$55,581-
Compensation and Service Providers
Top Officer Pay17th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Donna CarpenterPresident/CEOFT$131,794$131,794

Board Members and Trustees

NameTitle
Jennifer ParsleyChairman
Angie BrownBoard Member
Elizabeth PooleBoard Member
Joel GriffinBoard Member
Pritesh NagarjiBoard Member
Ray SoporowskiBoard Member
Scott PadgettBoard Member
Tim HaglerBoard Member
Troy TaylorBoard Member
Vinay PatelBoard Member
Tammy Trexler WhaleySecretary
Pamela DuboisTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Charlotte Motor SpeedwayMarketing/sponsorshipsPO BOX 600, Concord, NC 28027$511,191
SimpleviewMarketing7458 N LA CHOLLA BLVD SUITE 100, Tucson, AZ 85741$243,625
Weddington Road PartnersRentPO BOX 40, New London, NC 28127$143,970
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,387,075
Investment Income
$3,202
Other Revenue
$54,151
Change in Net Assets
$859,882

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,444,428
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$5,444,428
Total Revenue per Form 990
$5,444,428
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,277,455
Salaries, Compensation, and Employee Benefits$1,307,091
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$596,976$105,349-$702,325
Other Salaries and Wages$515,105$90,901-$606,006
Current Officers, Directors, Trustees, and Key Employees$328,965$58,053-$387,018
Other Expenses$227,106$40,077-$267,183
Occupancy$150,043$26,478-$176,521
Other Employee Benefits$128,937$22,754-$151,691
Pension Plan Contributions$75,003$13,236-$88,239
Payroll Taxes$63,016$11,121-$74,137
Depreciation Depletion$51,090$9,016-$60,106
Office Expenses$45,608$8,049-$53,657
Information Technology$43,033$7,594-$50,627
Insurance$16,276$2,872-$19,148
Fees for Services Accounting$10,605$1,871-$12,476
Total Functional Expenses$3,896,865$687,681$0$4,584,546

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,584,546
Total Expenses per Audited Statements$4,584,546
Total Expenses per Form 990$4,584,546
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Tim HaglerMember of Board & Vp of Community Relations - Charlotte Motor SpeedwayTHE ORGANIZATION HAS A MARKETING AGREEMENT WITH CHARLOTTE MOTOR SPEEDWAY AND THE ORGANIZATION PAID CHARLOTTE MOTOR SPEEDWAY $500,000 DURING THE YEAR ENDED JUNE 30, 2016.No$500,000
Ray SoporowskiMember of Board & General Manager - Concord MillsTHE ORGANIZATION HAS A MARKETING AGREEMENT WITH CONCORD MILLS AND THE ORGANIZATION PAID CONCORD MILLS $20,000 DURING THE YEAR ENDED JUNE 30, 2016.No$20,000
Jennifer ParsleyMember of Board & Owner of Adventures in MotorsportsTHE ORGANIZATION PAID ADVENTURES IN MOTORSPORTS $1,800 DURING THE YEAR ENDED JUNE 30, 2016 FOR ASSISTANCE WITH DESTINATION TOURS.No$1,800
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$83,701
Deferred Inflows of Resources$48,730
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
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 11

“A draft copy of the 990 return was presented to the board of directors at their regularly scheduled meeting for review and approval.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy was distributed annually to the board of directors and the employees. Within the policy there are procedures for communicating concerns to supervisors and the board of directors.”

Form 990, Part VI, Section B, Line 15A

“Salary of the ceo is determined by the board of directors. The organization used comparable data from other resources such as destination marketng association international for ceo compensation.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy and financial statements are available for public inspection at the organization's office upon request. Organizations staff are available to provide supervision and answer any questions the inquiring party may have.”

Filing and Contact Details

Filer

Filer Name
Cabarrus County Tourism Authority
EIN
26-2726341
Phone
8008483740
Address
10099 WEDDINGTON RD NO 102, CONCORD, NC 28027
Doing Business As
Cabarrus County Convention and Visitors Bureau

Signing Officer

Name
John Mills
Title
Executive Vice President
Phone
7044567962
Signed
2016-11-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Mills
Formed
2008
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
24
Volunteers
20

Preparer

Firm
Potter & Company Pa
Address
434 COPPERFIELD BLVD NE STE A, CONCORD, NC 28025
Preparer
Samual M Leder CPA
Phone
7047868189
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Gasb 68 adjustment -135,633.”

Form 990, Part XI, Line 2C

“The audit committee assumes responsibility for oversight of the audit and the selection of the independent auditor.”

Financial Statement Notes

PART X, LINE 2:

“The organization has adopted asc 740-10, effective for audit years ending after december 15, 2009, as it relates to uncertain tax positions for the years ended june 30, 2016 and has evaluated its tax positions for all open tax years. The organization is not currently under audit nor has the organization been contacted by the internal revenue service. Based on the evaluation of the organizations tax positions, management believes all positions taken would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions have been recorded for the years ended june 30, 2016”

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IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt07594
IRS990/InformationTechnologyGrp/ProgramServicesAmt043033
IRS990/InformationTechnologyGrp/TotalAmt050627
IRS990/InsuranceGrp/ManagementAndGeneralAmt02872
IRS990/InsuranceGrp/ProgramServicesAmt016276
IRS990/InsuranceGrp/TotalAmt019148
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt03202
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt03202
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0278801
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0253799
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0242247
IRS990/LandBldgEquipCostOrOtherBssAmt0521048
IRS990/LegalDomicileStateCd0NC
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0DRIVE VISITATION TO CABARRUS COUNTY TO GENERATE THE MAXIMUM IMPACT THROUGH HOTEL STAYS AND VISITOR SPENDING.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt02814157
IRS990/NetAssetsOrFundBalancesEOYAmt03538406
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt026478
IRS990/OccupancyGrp/ProgramServicesAmt0150043
IRS990/OccupancyGrp/TotalAmt0176521
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt08049
IRS990/OfficeExpensesGrp/ProgramServicesAmt045608
IRS990/OfficeExpensesGrp/TotalAmt053657
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt079199
IRS990/OtherChangesInNetAssetsAmt0-135633
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt022754
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0128937
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0151691
IRS990/OtherExpensesGrp/Desc0SPONSORSHIP/EVENT EXPEN
IRS990/OtherExpensesGrp/Desc1OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc2COLLATERAL PRODUCTION/B
IRS990/OtherExpensesGrp/Desc3ADMINISTRATION FEE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0160716
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt183702
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt245892
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt340077
IRS990/OtherExpensesGrp/ProgramServicesAmt0910726
IRS990/OtherExpensesGrp/ProgramServicesAmt1474324
IRS990/OtherExpensesGrp/ProgramServicesAmt2260052
IRS990/OtherExpensesGrp/ProgramServicesAmt3227106
IRS990/OtherExpensesGrp/TotalAmt01071442
IRS990/OtherExpensesGrp/TotalAmt1558026
IRS990/OtherExpensesGrp/TotalAmt2305944
IRS990/OtherExpensesGrp/TotalAmt3267183
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt0132431
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0DONATED REVENUE
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt042490
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt111661
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt042490
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt111661
IRS990/OtherRevenueTotalAmt054151
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt090901
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0515105
IRS990/OtherSalariesAndWagesGrp/TotalAmt0606006
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt011121
IRS990/PayrollTaxesGrp/ProgramServicesAmt063016
IRS990/PayrollTaxesGrp/TotalAmt074137
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0242247
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt013236
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt075003
IRS990/PensionPlanContributionsGrp/TotalAmt088239
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0JOHN MILLS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/Desc0OCCUPANCY TAX
IRS990/ProgramServiceRevenueGrp/Desc1ADVERTISING FEES
IRS990/ProgramServiceRevenueGrp/Desc2PROGRAM FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05343668
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt136280
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt27127
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05343668
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt136280
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt27127
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt03068
IRS990/PYOtherExpensesAmt02864913
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt04905223
IRS990/PYRevenuesLessExpensesAmt0720567
IRS990/PYSalariesCompEmpBnftPaidAmt01322811
IRS990/PYTotalExpensesAmt04187724
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04908291
IRS990/ReconcilationRevenueExpnssAmt0859882
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02814157
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt03296159
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt07826
IRS990ScheduleD/EquipmentGrp/DepreciationAmt063430
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt071256
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt04584546
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0147329
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt055581
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0202910
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt087092
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0159790
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0246882
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt083701
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt148730
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET PENSION LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED INFLOWS OF RESOURCES
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt05444428
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS ADOPTED ASC 740-10, EFFECTIVE FOR AUDIT YEARS ENDING AFTER DECEMBER 15, 2009, AS IT RELATES TO UNCERTAIN TAX POSITIONS FOR THE YEARS ENDED JUNE 30, 2016 AND HAS EVALUATED ITS TAX POSITIONS FOR ALL OPEN TAX YEARS. THE ORGANIZATION IS NOT CURRENTLY UNDER AUDIT NOR HAS THE ORGANIZATION BEEN CONTACTED BY THE INTERNAL REVENUE SERVICE. BASED ON THE EVALUATION OF THE ORGANIZATIONS TAX POSITIONS, MANAGEMENT BELIEVES ALL POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAVE BEEN RECORDED FOR THE YEARS ENDED JUNE 30, 2016
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0242247
IRS990ScheduleD/TotalExpensesPerForm990Amt04584546
IRS990ScheduleD/TotalLiabilityAmt0132431
IRS990ScheduleD/TotalRevenuePerForm990Amt05444428
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05444428
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04584546
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0JENNIFER PARSLEY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1TIM HAGLER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm2RAY SOPOROWSKI
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0MEMBER OF BOARD & OWNER OF ADVENTURES IN MOTORSPORTS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1MEMBER OF BOARD & VP OF COMMUNITY RELATIONS - CHARLOTTE MOTOR SPEEDWAY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2MEMBER OF BOARD & GENERAL MANAGER - CONCORD MILLS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd10
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd20
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt01800
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt1500000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt220000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0THE ORGANIZATION PAID ADVENTURES IN MOTORSPORTS $1,800 DURING THE YEAR ENDED JUNE 30, 2016 FOR ASSISTANCE WITH DESTINATION TOURS.
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1THE ORGANIZATION HAS A MARKETING AGREEMENT WITH CHARLOTTE MOTOR SPEEDWAY AND THE ORGANIZATION PAID CHARLOTTE MOTOR SPEEDWAY $500,000 DURING THE YEAR ENDED JUNE 30, 2016.
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2THE ORGANIZATION HAS A MARKETING AGREEMENT WITH CONCORD MILLS AND THE ORGANIZATION PAID CONCORD MILLS $20,000 DURING THE YEAR ENDED JUNE 30, 2016.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT COPY OF THE 990 RETURN WAS PRESENTED TO THE BOARD OF DIRECTORS AT THEIR REGULARLY SCHEDULED MEETING FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY WAS DISTRIBUTED ANNUALLY TO THE BOARD OF DIRECTORS AND THE EMPLOYEES. WITHIN THE POLICY THERE ARE PROCEDURES FOR COMMUNICATING CONCERNS TO SUPERVISORS AND THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARY OF THE CEO IS DETERMINED BY THE BOARD OF DIRECTORS. THE ORGANIZATION USED COMPARABLE DATA FROM OTHER RESOURCES SUCH AS DESTINATION MARKETNG ASSOCIATION INTERNATIONAL FOR CEO COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORGANIZATION'S OFFICE UPON REQUEST. ORGANIZATIONS STAFF ARE AVAILABLE TO PROVIDE SUPERVISION AND ANSWER ANY QUESTIONS THE INQUIRING PARTY MAY HAVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GASB 68 ADJUSTMENT -135,633.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND THE SELECTION OF THE INDEPENDENT AUDITOR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,833,090
Liabilities
$294,684
Net assets
$3,538,406
Revenue
$5,444,428
Expenses
$4,584,546
Net income
$859,882
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.88$2.94$6.95$7.77$7.38$0.39
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.83$2.24$5.59$7.24$7.62$0.38
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.06$2.09$5.97$6.46$4.72$1.74
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.28$1.05$4.23$3.75$2.77$0.98
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.85$0.60$3.25$4.16$4.58$0.42
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.25$0.58$3.67$5.77$5.57$0.20
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.89$0.42$3.48$5.74$5.96$0.22
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.28$0.58$3.70$5.59$5.43$0.16
2016Detailed filing. Detailed filing data is available for this year.$3.83$0.29$3.54$5.44$4.58$0.86
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