Civic Intelligence

World Karting Association Inc

990 • Fiscal year 2020 • EIN 31-0810666

Dec 01, 2019 to Nov 30, 2020 • Filed on May 31, 2021

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

66th percentile

0.40x

Higher debt load relative to assets than 66% of similar nonprofits.

2020 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

36th percentile

0.19x

Higher debt load relative to revenue than 36% of similar nonprofits.

2020 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2020

Net Margin

19th percentile

-9.9%

Higher net margin than 19% of similar nonprofits.

2020 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2020 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2020

Asset Growth

51st percentile

1.3%

Faster asset growth than 51% of similar nonprofits.

2020 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

27th percentile

-17%

Faster revenue growth than 27% of similar nonprofits.

2020 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$491,938

Up $6,319 (+1.3%) from 2019

Net Assets

Down

$296,654

Down $103,469 (-26%) from 2019

Liabilities

Up

$195,284

Up $109,788 (+128%) from 2019

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin19th percentile

Revenue

Down

$1,044,098

Down $211,025 (-17%) from 2019

Expenses

Down

$1,147,567

Down $200,546 (-15%) from 2019

Net Income

Down

-$103,469

Down $10,479 (-11%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth51st 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

2020

Assets$491,938
Liabilities$195,284
Net Assets$296,654
Open 2020 Filing

Operations Trend

Revenue Growth27th 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

2020

Revenue$1,044,098
Expenses$1,147,567
Net Income-$103,469
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2019 to Nov 30, 2020
Signed
May 31, 2021
Return Version
2019v5.1
Gross Receipts
$1,044,098
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$400,123$296,654▼ $103,469
Investments Other Securities$234,310$234,310→ $0
Savings and Temporary Cash Investments$88,028$109,008▲ $20,980
Accounts Receivable$85,566$73,641▼ $11,925
Cash and Non-Interest-Bearing Accounts$30,529$40,171▲ $9,642
Land, Buildings, and Equipment, Net$40,521$28,143▼ $12,378
Total Assets$485,619$491,938▲ $6,319
Other Assets Total$6,665$6,665→ $0
Liabilities
Other Liabilities$33,383$195,284▲ $161,901
Accounts Payable and Accrued Expenses$52,113--
Total Liabilities$85,496$195,284▲ $109,788
Net Assets / Fund Balance
Total Net Assets Fund Balance$400,123$296,654▼ $103,469
Total Liabilities and Net Assets / Fund Balance$485,619$491,938▲ $6,319

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements-$336,099$336,099
Other Land Buildings$28,143$52,167$80,310
Equipment-$19,472$19,472
Other Assets Org$6,665--
Other Securities$234,310--
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Mike TretraultChairman
Kevin WilliamsPresident
Bobby GettysVice President
Chris KardashianDistrict 1 Trustee
Robby HarperDistrict 2 Trustee
Chuck GafrararDistrict 3 Trustee
Jamie KnopfDistrict 4 Trustee
Scott SandersDistrict 5 Trustee
Pat SlatteryDistrict 6 Trustee
George SierackiDistrict 7 Trustee
Jerry WhiteDistrict 8 Trustee
Angelo BuffamanteSecretary
Steve JacobsenSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$59,905
Program Service Revenue
$983,507
Investment Income
$19
Other Revenue
$667
Change in Net Assets
$-103,469
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,042,983
Salaries, Compensation, and Employee Benefits$104,584
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$88,297-$88,297
Occupancy-$48,954-$48,954
Office Expenses-$19,151-$19,151
Fees for Services Other$4,000$13,572-$17,572
All Other Expenses$6,409$10,860-$17,269
Insurance$13,333--$13,333
Depreciation Depletion$8,736$3,642-$12,378
Payroll Taxes-$8,735-$8,735
Conferences and Meetings$6,770--$6,770
Interest$5,606--$5,606
Other Employee Benefits-$5,244-$5,244
Travel$4,908--$4,908
Fees for Services Legal-$2,873-$2,873
Pension Plan Contributions-$2,308-$2,308
Advertising$1,843--$1,843
Other Expenses$10--$10
Total Functional Expenses$943,931$203,636$0$1,147,567
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
SBA Loan$150,000
Open bal equity$17,281
Com Stock Open Bal Equity$15,395
Trailer Loan$13,142
Deferred Income$240
Rounding$2
Payroll Liabilities$-776
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 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
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
Wka Association
EIN
31-0810666
Address
6051 VICTORY LANE, CONCORD, NC 28027

Signing Officer

Name
Michael Tetreault
Title
Chairman
Phone
7044551606
Signed
2021-05-31
Discuss with paid preparer
Yes

Organization Details

Formed
1985
Legal Domicile
Oh
Voting Board Members
14
Independent Board Members
14
Employees
3

Preparer

Firm
Better Financial Solutions LLC
Address
6465 Frank Ave NW, North Canton, OH 44720
Preparer
Marie Cutlip
Phone
3304945335
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IRS990/OtherExpensesGrp/ProgramServicesAmt310
IRS990/OtherExpensesGrp/TotalAmt0760216
IRS990/OtherExpensesGrp/TotalAmt1124963
IRS990/OtherExpensesGrp/TotalAmt27137
IRS990/OtherExpensesGrp/TotalAmt310
IRS990/OtherLiabilitiesGrp/BOYAmt033383
IRS990/OtherLiabilitiesGrp/EOYAmt0195284
IRS990/OtherRevenueMiscGrp/BusinessCd0713990
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0667
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0667
IRS990/OtherRevenueTotalAmt0667
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt088297
IRS990/OtherSalariesAndWagesGrp/TotalAmt088297
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt08735
IRS990/PayrollTaxesGrp/TotalAmt08735
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt02308
IRS990/PensionPlanContributionsGrp/TotalAmt02308
IRS990/PoliticalCampaignActyInd0false
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0713990
IRS990/ProgramServiceRevenueGrp/BusinessCd1524298
IRS990/ProgramServiceRevenueGrp/Desc0RACE INCOME
IRS990/ProgramServiceRevenueGrp/Desc1INSURANCELICENSE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0781708
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1201799
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0781708
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1201799
IRS990/ProgSrvcAccomActy2Grp/Desc0SUPPLY INSURANCE FOR MEMBERS DURING ASSOCIATION SANCTIONED EVENTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt017333
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0201799
IRS990/ProgSrvcAccomActy3Grp/Desc0WKA MAINTAINS A DIRECT MAIL PROGRAM TO KEEP MEMBERS INFORMED OF ACTIVITIES, EVENTS, AND ELECTIONS ETC.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt08980
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0667
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt056642
IRS990/PYInvestmentIncomeAmt018
IRS990/PYOtherExpensesAmt01196532
IRS990/PYOtherRevenueAmt09898
IRS990/PYProgramServiceRevenueAmt01188565
IRS990/PYRevenuesLessExpensesAmt0-92990
IRS990/PYSalariesCompEmpBnftPaidAmt0151581
IRS990/PYTotalExpensesAmt01348113
IRS990/PYTotalRevenueAmt01255123
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-103469
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0781708
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0400123
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0296654
IRS990/SavingsAndTempCashInvstGrp/BOYAmt088028
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0109008
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt019472
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt019472
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0336099
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0336099
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt06665
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt028143
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt052167
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt080310
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0-776
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1240
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt213142
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt315395
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt42
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt5150000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt617281
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payroll Liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Deferred Income
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Trailer Loan
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Com Stock Open Bal Equity
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5SBA Loan
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc6Open bal equity
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0234310
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENT IN WKI
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt028143
IRS990ScheduleD/TotalBookValueOtherAssetsAmt06665
IRS990ScheduleD/TotalBookValueSecuritiesAmt0234310
IRS990ScheduleD/TotalLiabilityAmt0195284
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
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Half of office admin wages
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0World Karting Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0o
IRS990/SchoolOperatingInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0485619
IRS990/TotalAssetsEOYAmt0491938
IRS990/TotalAssetsGrp/BOYAmt0485619
IRS990/TotalAssetsGrp/EOYAmt0491938
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt059905
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0203636
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0943931
IRS990/TotalFunctionalExpensesGrp/TotalAmt01147567
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt085496
IRS990/TotalLiabilitiesEOYAmt0195284
IRS990/TotalLiabilitiesGrp/BOYAmt085496

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$491,938
Liabilities
$195,284
Net assets
$296,654
Revenue
$1,044,098
Expenses
$1,147,567
Net income
-$103,469
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
2020Detailed filing. Detailed filing data is available for this year.$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