Civic Intelligence

World Karting Association Inc

990 • Fiscal year 2015 • EIN 31-0810666

Dec 01, 2014 to Nov 30, 2015 • Filed on Jul 14, 2016

Organization ProfileWORLDKARTING.COM
6051 Victory LaneConcord, NC 28027

(704) 455-1606

Siviq Scores

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

Liabilities / Assets

30th percentile

0.08x

Higher debt load relative to assets than 30% of similar nonprofits.

2015 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

19th percentile

0.04x

Higher debt load relative to revenue than 19% of similar nonprofits.

2015 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2015

Net Margin

64th percentile

8.2%

Higher net margin than 64% of similar nonprofits.

2015 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

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

2015 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2015

Asset Growth

90th percentile

16%

Faster asset growth than 90% of similar nonprofits.

2015 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

16th percentile

-7.5%

Faster revenue growth than 16% of similar nonprofits.

2015 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets30th percentile

Assets

Up

$661,185

Up $91,895 (+16%) from 2014

Net Assets

Up

$606,891

Up $102,160 (+20%) from 2014

Liabilities

Down

$54,294

Down $10,265 (-16%) from 2014

Revenue And Expenses
Liabilities / Revenue19th percentileNet Margin64th percentile

Revenue

Down

$1,251,092

Down $101,602 (-7.5%) from 2014

Expenses

Down

$1,148,932

Down $149,583 (-12%) from 2014

Net Income

Up

$102,160

Up $47,981 (+89%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$800K$600K$400K$200K$0Assets 2014: $569,290Liabilities 2014: $64,559Net Assets 2014: $504,7312014Assets 2015: $661,185Liabilities 2015: $54,294Net Assets 2015: $606,8912015Assets 2016: $635,437Liabilities 2016: $90,452Net Assets 2016: $544,9852016Assets 2018: $511,358Liabilities 2018: $18,245Net Assets 2018: $493,1132018Assets 2019: $485,619Liabilities 2019: $85,496Net Assets 2019: $400,1232019Assets 2020: $491,938Liabilities 2020: $195,284Net Assets 2020: $296,6542020Assets 2021: $551,594Liabilities 2021: $261,766Net Assets 2021: $289,8282021Assets 2022: $566,349Liabilities 2022: $257,164Net Assets 2022: $309,1852022Assets 2023: $550,113Liabilities 2023: $253,209Net Assets 2023: $296,9042023Assets 2024: $537,200Liabilities 2024: $242,447Net Assets 2024: $294,7532024

Highlighted filing

2015

Assets$661,185
Liabilities$54,294
Net Assets$606,891
Open 2015 Filing

Operations Trend

Revenue Growth16th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2014: $1,352,694Expenses 2014: $1,298,515Net Income 2014: $54,1792014Revenue 2015: $1,251,092Expenses 2015: $1,148,932Net Income 2015: $102,1602015Revenue 2016: $1,227,924Expenses 2016: $1,289,830Net Income 2016: -$61,9062016Revenue 2018: $1,262,178Expenses 2018: $1,312,497Net Income 2018: -$50,3192018Revenue 2019: $1,255,123Expenses 2019: $1,348,113Net Income 2019: -$92,9902019Revenue 2020: $1,044,098Expenses 2020: $1,147,567Net Income 2020: -$103,4692020Revenue 2021: $1,530,529Expenses 2021: $1,537,355Net Income 2021: -$6,8262021Revenue 2022: $1,552,440Expenses 2022: $1,533,083Net Income 2022: $19,3572022Revenue 2023: $1,629,619Expenses 2023: $1,641,900Net Income 2023: -$12,2812023Revenue 2024: $1,351,835Expenses 2024: $1,353,986Net Income 2024: -$2,1512024

Highlighted filing

2015

Revenue$1,251,092
Expenses$1,148,932
Net Income$102,160
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2014 to Nov 30, 2015
Signed
Jul 14, 2016
Return Version
2014v6.0
Gross Receipts
$1,251,092
Mission and Program Overview

Mission

To provide a safe, fair, consistent, fun, and affordable environment for the beginner, hobbyist, and future stars of motorsports to fulfill their racing dreams.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$504,731$606,891▲ $102,160
Accounts Receivable$287,595$308,749▲ $21,154
Savings and Temporary Cash Investments$211,743$213,779▲ $2,036
Cash and Non-Interest-Bearing Accounts$26,096$102,157▲ $76,061
Land, Buildings, and Equipment, Net$30,505$23,149▼ $7,356
Investments Other Securities$1,000$1,000→ $0
Total Assets$569,290$661,185▲ $91,895
Other Assets Total$12,351$12,351→ $0
Liabilities
Deferred Revenue$42,240$45,261▲ $3,021
Accounts Payable and Accrued Expenses$22,318$9,032▼ $13,286
Other Liabilities$1$1→ $0
Total Liabilities$64,559$54,294▼ $10,265
Net Assets / Fund Balance
Total Net Assets Fund Balance$504,731$606,891▲ $102,160
Total Liabilities and Net Assets / Fund Balance$569,290$661,185▲ $91,895

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$41$336,058$336,099
Equipment$1,177$93,187$94,364
Other Land Buildings$21,931$31,080$53,011
Other Assets Org$5,686--
Other Securities$1,000--
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
John FerrisPresident
Bobby GettysVice President
Lyn HaddockVice President
Andy SeesemannTrustee
Dave KoehlerTrustee
George SierackiTrustee
Jerry ColeTrustee
Johnny BartlettTrustee
Lee CamarraTrustee
Mike TetreaultTrustee
Randall LylesTrustee
Steve JacobsenTrustee
Vito DepintoTrustee
Kevin WilliamsCIK Liason
Angelo BuffomanteSecretary
Mike TetreaultTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$68,979
Program Service Revenue
$1,179,710
Investment Income
$31
Other Revenue
$2,372
Change in Net Assets
$102,160
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,005,894
Salaries, Compensation, and Employee Benefits$143,038
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$126,759-$126,759
Occupancy-$71,405-$71,405
Office Expenses-$30,723-$30,723
Insurance-$26,165-$26,165
Travel$22,005--$22,005
Other Expenses$19,209--$19,209
All Other Expenses$13,823$4,251-$18,074
Payroll Taxes-$14,545-$14,545
Fees for Services Legal-$8,316-$8,316
Depreciation Depletion-$7,356-$7,356
Advertising$2,262--$2,262
Pension Plan Contributions-$1,734-$1,734
Interest-$91-$91
Total Functional Expenses$857,587$291,345$0$1,148,932
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Rounding$1
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

“Some trustees own businesses that other trustees and the organization do transact business.”

Members or stockholder classes and rights Part VI line 6

“The membership is divided into ten districts throughout the united states and canada.”

Member election for additional members Part VI line 7A

“The membership vote on trustees to represent the different districts.”

Governing body decisions Part VI line 7B

“Any changes to bylaws require a vote from the membership.”

Form 990 governing body review Part VI line 11

“The form 990 is reviewed by the vice president and treasurer prior to filing the return.”

Governing documents etc available to public Part VI line 19

“Posted periodically in magazine and on website.”

Filing and Contact Details

Filer

Filer Name
World Karting Association Inc
EIN
31-0810666
Address
6051 VICTORY LANE, CONCORD, NC 28027

Signing Officer

Name
John Ferris
Title
President
Phone
3304924131
Signed
2016-07-14
Discuss with paid preparer
Yes

Organization Details

Formed
1985
Legal Domicile
Oh
Voting Board Members
10
Independent Board Members
10
Employees
3

Preparer

Firm
Better Financial Solutions LLC
Address
6465 Frank Ave NW, North Canton, OH 44720
Preparer
Rebecca Wilson CPA
Phone
3304945335
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IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0504731
IRS990/NetAssetsOrFundBalancesEOYAmt0606891
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt071405
IRS990/OccupancyGrp/TotalAmt071405
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt030723
IRS990/OfficeExpensesGrp/TotalAmt030723
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt012351
IRS990/OtherAssetsTotalGrp/EOYAmt012351
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0RACE EXPENSE
IRS990/OtherExpensesGrp/Desc1CONTRACT LABOR
IRS990/OtherExpensesGrp/Desc2POSTAGE AND SHIPPING
IRS990/OtherExpensesGrp/ProgramServicesAmt0705158
IRS990/OtherExpensesGrp/ProgramServicesAmt195130
IRS990/OtherExpensesGrp/ProgramServicesAmt219209
IRS990/OtherExpensesGrp/TotalAmt0705158
IRS990/OtherExpensesGrp/TotalAmt195130
IRS990/OtherExpensesGrp/TotalAmt219209
IRS990/OtherLiabilitiesGrp/BOYAmt01
IRS990/OtherLiabilitiesGrp/EOYAmt01
IRS990/OtherRevenueMiscGrp/BusinessCd0713990
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt02372
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt02372
IRS990/OtherRevenueTotalAmt02372
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0126759
IRS990/OtherSalariesAndWagesGrp/TotalAmt0126759
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt014545
IRS990/PayrollTaxesGrp/TotalAmt014545
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01734
IRS990/PensionPlanContributionsGrp/TotalAmt01734
IRS990/PoliticalCampaignActyInd0false
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0713990
IRS990/ProgramServiceRevenueGrp/BusinessCd1524298
IRS990/ProgramServiceRevenueGrp/Desc0RACE INCOME
IRS990/ProgramServiceRevenueGrp/Desc1INSURANCELICENSE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0829521
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1350189
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0829521
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1350189
IRS990/ProgSrvcAccomActy2Grp/Desc0SUPPLY INSURANCE FOR MEMBERS DURING ASSOCIATION SANCTIONED EVENTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0156927
IRS990/ProgSrvcAccomActy3Grp/Desc0WKA MAINTAINS A DIRECT MAIL PROGRAM TO KEEP MEMBERS INFORMED OF ACTIVITIES, EVENTS, AND ELECTIONS ETC.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt021471
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt090483
IRS990/PYInvestmentIncomeAmt033
IRS990/PYOtherExpensesAmt01147006
IRS990/PYOtherRevenueAmt034917
IRS990/PYProgramServiceRevenueAmt01227261
IRS990/PYRevenuesLessExpensesAmt054179
IRS990/PYSalariesCompEmpBnftPaidAmt0151509
IRS990/PYTotalExpensesAmt01298515
IRS990/PYTotalRevenueAmt01352694
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0102160
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0504731
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0606891
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0211743
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0213779
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt01177
IRS990ScheduleD/EquipmentGrp/DepreciationAmt093187
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt094364
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt041
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0336058
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0336099
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt06665
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt15686
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1PREPAID INSURANCE
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt021931
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt031080
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt053011
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Rounding
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt01000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENT IN WKI
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt023149
IRS990ScheduleD/TotalBookValueOtherAssetsAmt012351
IRS990ScheduleD/TotalBookValueSecuritiesAmt01000
IRS990ScheduleD/TotalLiabilityAmt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SOME TRUSTEES OWN BUSINESSES THAT OTHER TRUSTEES AND THE ORGANIZATION DO TRANSACT BUSINESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERSHIP IS DIVIDED INTO TEN DISTRICTS THROUGHOUT THE UNITED STATES AND CANADA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MEMBERSHIP VOTE ON TRUSTEES TO REPRESENT THE DIFFERENT DISTRICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY CHANGES TO BYLAWS REQUIRE A VOTE FROM THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 IS REVIEWED BY THE VICE PRESIDENT AND TREASURER PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5POSTED PERIODICALLY IN MAGAZINE AND ON WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing body decisions Part VI line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Governing documents etc available to public Part VI line 19
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0WORLD KARTING ASSOCIATION INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0230431010
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C Corp
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct01.00000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0PUBLISHING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0WORLD KARTING INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt06051 VICTORY LANE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0CONCORD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd028027
IRS990/SchoolOperatingInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0569290
IRS990/TotalAssetsEOYAmt0661185
IRS990/TotalAssetsGrp/BOYAmt0569290
IRS990/TotalAssetsGrp/EOYAmt0661185
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt068979
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0291345
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0857587
IRS990/TotalFunctionalExpensesGrp/TotalAmt01148932
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt064559
IRS990/TotalLiabilitiesEOYAmt054294
IRS990/TotalLiabilitiesGrp/BOYAmt064559
IRS990/TotalLiabilitiesGrp/EOYAmt054294

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$661,185
Liabilities
$54,294
Net assets
$606,891
Revenue
$1,251,092
Expenses
$1,148,932
Net income
$102,160
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.54$0.24$0.29$1.35$1.35$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.55$0.25$0.30$1.63$1.64$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.57$0.26$0.31$1.55$1.53$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.55$0.26$0.29$1.53$1.54$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.49$0.20$0.30$1.04$1.15$0.10
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.49$0.09$0.40$1.26$1.35$0.09
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.51$0.02$0.49$1.26$1.31$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.64$0.09$0.54$1.23$1.29$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.66$0.05$0.61$1.25$1.15$0.10
2014Detailed filing. Detailed filing data is available for this year.$0.57$0.06$0.50$1.35$1.30$0.05