Civic Intelligence

World Karting Association Inc

990 • Fiscal year 2016 • EIN 31-0810666

Dec 01, 2015 to Nov 30, 2016 • Filed on Apr 09, 2017

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

38th percentile

0.14x

Higher debt load relative to assets than 38% of similar nonprofits.

2016 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

24th percentile

0.07x

Higher debt load relative to revenue than 24% of similar nonprofits.

2016 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2016

Net Margin

20th percentile

-5.0%

Higher net margin than 20% of similar nonprofits.

2016 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

72nd percentile

$0

Higher top officer pay than 72% of similar nonprofits.

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

2016 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2016

Asset Growth

21st percentile

-3.9%

Faster asset growth than 21% of similar nonprofits.

2016 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

32nd percentile

-1.9%

Faster revenue growth than 32% of similar nonprofits.

2016 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$635,437

Down $25,748 (-3.9%) from 2015

Net Assets

Down

$544,985

Down $61,906 (-10%) from 2015

Liabilities

Up

$90,452

Up $36,158 (+67%) from 2015

Revenue

Down

$1,227,924

Down $23,168 (-1.9%) from 2015

Expenses

Up

$1,289,830

Up $140,898 (+12%) from 2015

Net Income

Down

-$61,906

Down $164,066 (-161%) from 2015

Historical Trend

Balance Sheet Trend

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

2016

Assets$635,437
Liabilities$90,452
Net Assets$544,985

Operations Trend

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

2016

Revenue$1,227,924
Expenses$1,289,830
Net Income-$61,906
Jump To
Filing Snapshot
Filing Period
Dec 1, 2015 to Nov 30, 2016
Signed
Apr 9, 2017
Return Version
2015v3.0
Gross Receipts
$1,227,924
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$606,891$544,985▼ $61,906
Accounts Receivable$308,749$315,086▲ $6,337
Savings and Temporary Cash Investments$213,779$250,826▲ $37,047
Cash and Non-Interest-Bearing Accounts$102,157$35,287▼ $66,870
Land, Buildings, and Equipment, Net$23,149$20,887▼ $2,262
Investments Other Securities$1,000$1,000→ $0
Total Assets$661,185$635,437▼ $25,748
Other Assets Total$12,351$12,351→ $0
Liabilities
Deferred Revenue$45,261$51,759▲ $6,498
Accounts Payable and Accrued Expenses$9,032$38,692▲ $29,660
Other Liabilities$1$1→ $0
Total Liabilities$54,294$90,452▲ $36,158
Net Assets / Fund Balance
Total Net Assets Fund Balance$606,891$544,985▼ $61,906
Total Liabilities and Net Assets / Fund Balance$661,185$635,437▼ $25,748

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements-$336,099$336,099
Equipment$831$93,533$94,364
Other Land Buildings$20,056$32,955$53,011
Other Assets Org$5,686--
Other Securities$1,000--
Compensation and Service Providers

Board Members and Trustees

NameTitle
John FerrisPresident
Lynn HaddockVICE PRESIDENT - 2 Cycle
Bobby GettysVICE PRESIDENT - 4 Cycle
Andy SeesemannTRUSTEE - District 10
Vito DepintoTRUSTEE - District 2
John KlutzTRUSTEE - District 3
Dave KoehlerTRUSTEE - District 4
Randall LylesTRUSTEE - District 5
David ColeTRUSTEE - District 6
George SierackiTRUSTEE - District 7
Mike TetreaultTRUSTEE - District 8
Angelo BuffomanteTRUSTEE - District 9
Steve JacobsenTRUSTEE - Distrist 1
Kevin WilliamsCIK Liason
Angelo BuffomanteSecretary
Mike TetreaultTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$76,761
Program Service Revenue
$1,150,604
Investment Income
$48
Other Revenue
$511
Change in Net Assets
$-61,906
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,088,155
Salaries, Compensation, and Employee Benefits$201,675
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$178,750-$178,750
Occupancy-$80,409-$80,409
All Other Expenses$35,474$8,912-$44,386
Office Expenses-$32,387-$32,387
Travel$19,410--$19,410
Insurance$18,666--$18,666
Payroll Taxes-$18,552-$18,552
Other Expenses$14,194--$14,194
Fees for Services Legal-$5,578-$5,578
Advertising$4,105--$4,105
Other Employee Benefits-$2,482-$2,482
Depreciation Depletion-$2,262-$2,262
Pension Plan Contributions-$1,891-$1,891
Interest-$111-$111
Total Functional Expenses$958,496$331,334$0$1,289,830
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
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
3304945335
Signed
2017-04-09
Discuss with paid preparer
No

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
Marie Cutlip CPA
Phone
3304945335
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IRS990/Form990PartVIISectionAGrp/TitleTxt0TRUSTEE - Distrist 1
IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE - District 2
IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE - District 3
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE - District 4
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE - District 5
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE - District 6
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE - District 7
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE - District 8
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE - District 9
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE - District 10
IRS990/Form990PartVIISectionAGrp/TitleTxt10VICE PRESIDENT - 4 Cycle
IRS990/Form990PartVIISectionAGrp/TitleTxt11SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt12TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt13CIK LIASON
IRS990/Form990PartVIISectionAGrp/TitleTxt14VICE PRESIDENT - 2 Cycle
IRS990/Form990PartVIISectionAGrp/TitleTxt15PRESIDENT
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IRS990/MissionDesc0TO PROVIDE A SAFE, FAIR, CONSISTENT, FUN, AND AFFORDABLE ENVIRONMENT FOR THE BEGINNER, HOBBYIST, AND FUTURE STARS OF MOTORSPORTS TO FULFILL THEIR RACING DREAMS.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt0544985
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt080409
IRS990/OccupancyGrp/TotalAmt080409
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt032387
IRS990/OfficeExpensesGrp/TotalAmt032387
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt012351
IRS990/OtherAssetsTotalGrp/EOYAmt012351
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt02482
IRS990/OtherEmployeeBenefitsGrp/TotalAmt02482
IRS990/OtherExpensesGrp/Desc0RACE EXPENSE
IRS990/OtherExpensesGrp/Desc1CONTRACT LABOR
IRS990/OtherExpensesGrp/Desc2POSTAGE AND SHIPPING
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IRS990/OtherExpensesGrp/ProgramServicesAmt198174
IRS990/OtherExpensesGrp/ProgramServicesAmt214194
IRS990/OtherExpensesGrp/TotalAmt0768473
IRS990/OtherExpensesGrp/TotalAmt198174
IRS990/OtherExpensesGrp/TotalAmt214194
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IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0511
IRS990/OtherRevenueTotalAmt0511
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0178750
IRS990/OtherSalariesAndWagesGrp/TotalAmt0178750
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt018552
IRS990/PayrollTaxesGrp/TotalAmt018552
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01891
IRS990/PensionPlanContributionsGrp/TotalAmt01891
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IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0713990
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IRS990/ProgramServiceRevenueGrp/Desc1INSURANCELICENSE FEES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1281034
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0869570
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1281034
IRS990/ProgSrvcAccomActy2Grp/Desc0SUPPLY INSURANCE FOR MEMBERS DURING ASSOCIATION SANCTIONED EVENTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt040021
IRS990/ProgSrvcAccomActy3Grp/Desc0WKA MAINTAINS A DIRECT MAIL PROGRAM TO KEEP MEMBERS INFORMED OF ACTIVITIES, EVENTS, AND ELECTIONS ETC.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt018299
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYInvestmentIncomeAmt031
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IRS990/PYOtherRevenueAmt02372
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IRS990/PYRevenuesLessExpensesAmt0102160
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IRS990/PYTotalExpensesAmt01148932
IRS990/PYTotalRevenueAmt01251092
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-61906
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0544985
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt093533
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt094364
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0336099
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0336099
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt15686
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1PREPAID INSURANCE
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt032955
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt053011
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Rounding
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt01000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENT IN WKI
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
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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/ControlledOrganizationInd0false
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
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0635437
IRS990/TotalAssetsGrp/BOYAmt0661185
IRS990/TotalAssetsGrp/EOYAmt0635437
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt076761
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0331334
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0958496
IRS990/TotalFunctionalExpensesGrp/TotalAmt01289830

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