Civic Intelligence

World Karting Association Inc

990 • Fiscal year 2021 • EIN 31-0810666

Dec 01, 2020 to Nov 30, 2021 • Filed on Apr 28, 2022

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

74th percentile

0.47x

Higher debt load relative to assets than 74% of similar nonprofits.

2021 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

38th percentile

0.17x

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

2021 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2021

Net Margin

26th percentile

-0.4%

Higher net margin than 26% of similar nonprofits.

2021 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2021 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2021

Asset Growth

72nd percentile

12%

Faster asset growth than 72% of similar nonprofits.

2021 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

84th percentile

47%

Faster revenue growth than 84% of similar nonprofits.

2021 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$551,594

Up $59,656 (+12%) from 2020

Net Assets

Down

$289,828

Down $6,826 (-2.3%) from 2020

Liabilities

Up

$261,766

Up $66,482 (+34%) from 2020

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin26th percentile

Revenue

Up

$1,530,529

Up $486,431 (+47%) from 2020

Expenses

Up

$1,537,355

Up $389,788 (+34%) from 2020

Net Income

Up

-$6,826

Up $96,643 (+93%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth72nd 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

2021

Assets$551,594
Liabilities$261,766
Net Assets$289,828
Open 2021 Filing

Operations Trend

Revenue Growth84th 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

2021

Revenue$1,530,529
Expenses$1,537,355
Net Income-$6,826
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2020 to Nov 30, 2021
Signed
Apr 28, 2022
Return Version
2020v4.1
Gross Receipts
$1,530,529
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$296,654$289,828▼ $6,826
Investments Other Securities$234,310$186,347▼ $47,963
Cash and Non-Interest-Bearing Accounts$40,171$156,003▲ $115,832
Savings and Temporary Cash Investments$109,008$107,681▼ $1,327
Accounts Receivable$73,641$76,355▲ $2,714
Land, Buildings, and Equipment, Net$28,143$18,543▼ $9,600
Total Assets$491,938$551,594▲ $59,656
Other Assets Total$6,665$6,665→ $0
Liabilities
Other Liabilities$195,284$261,766▲ $66,482
Total Liabilities$195,284$261,766▲ $66,482
Net Assets / Fund Balance
Total Net Assets Fund Balance$296,654$289,828▼ $6,826
Total Liabilities and Net Assets / Fund Balance$491,938$551,594▲ $59,656

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements-$336,099$336,099
Other Land Buildings$18,543$61,767$80,310
Equipment-$22,947$22,947
Other Assets Org$6,665--
Other Securities$186,347--
Compensation and Service Providers
Top Officer Pay77th 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
$63,966
Program Service Revenue
$1,465,646
Investment Income
$23
Other Revenue
$894
Change in Net Assets
$-6,826
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,436,587
Salaries, Compensation, and Employee Benefits$100,768
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$85,097-$85,097
Occupancy-$60,222-$60,222
All Other Expenses$9,179$14,398-$23,577
Fees for Services Other-$16,542-$16,542
Insurance$16,449--$16,449
Office Expenses-$15,980-$15,980
Travel$9,072--$9,072
Depreciation Depletion$5,936$2,868-$8,804
Payroll Taxes-$8,242-$8,242
Fees for Services Legal-$7,682-$7,682
Interest$6,416--$6,416
Other Employee Benefits-$4,868-$4,868
Advertising$2,819--$2,819
Pension Plan Contributions-$2,561-$2,561
Fees for Services Accounting-$1,750-$1,750
Other Expenses$10--$10
Total Functional Expenses$1,317,145$220,210$0$1,537,355
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$225,000
Open bal equity$17,281
Com Stock Open Bal Equity$15,395
Trailer Loan$4,624
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
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
Micheal Tetreault
Title
Chairman
Phone
7044551606
Signed
2022-04-28
Discuss with paid preparer
Yes

Organization Details

Formed
1985
Legal Domicile
Oh
Voting Board Members
14
Independent Board Members
14
Employees
2

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/TotalAmt310
IRS990/OtherLiabilitiesGrp/BOYAmt0195284
IRS990/OtherLiabilitiesGrp/EOYAmt0261766
IRS990/OtherRevenueMiscGrp/BusinessCd0713990
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0894
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0894
IRS990/OtherRevenueTotalAmt0894
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt085097
IRS990/OtherSalariesAndWagesGrp/TotalAmt085097
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt08242
IRS990/PayrollTaxesGrp/TotalAmt08242
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt02561
IRS990/PensionPlanContributionsGrp/TotalAmt02561
IRS990/PoliticalCampaignActyInd0false
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0713990
IRS990/ProgramServiceRevenueGrp/BusinessCd1524298
IRS990/ProgramServiceRevenueGrp/Desc0RACE INCOME
IRS990/ProgramServiceRevenueGrp/Desc1INSURANCELICENSE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01213628
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1252018
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01213628
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1252018
IRS990/ProgSrvcAccomActy2Grp/Desc0SUPPLY INSURANCE FOR MEMBERS DURING ASSOCIATION SANCTIONED EVENTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt016449
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0252018
IRS990/ProgSrvcAccomActy3Grp/Desc0WKA MAINTAINS A DIRECT MAIL PROGRAM TO KEEP MEMBERS INFORMED OF ACTIVITIES, EVENTS, AND ELECTIONS ETC.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt08868
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0894
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt059905
IRS990/PYInvestmentIncomeAmt019
IRS990/PYOtherExpensesAmt01042983
IRS990/PYOtherRevenueAmt0667
IRS990/PYProgramServiceRevenueAmt0983507
IRS990/PYRevenuesLessExpensesAmt0-103469
IRS990/PYSalariesCompEmpBnftPaidAmt0104584
IRS990/PYTotalExpensesAmt01147567
IRS990/PYTotalRevenueAmt01044098
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-6826
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01213628
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0296654
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0289828
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0109008
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0107681
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt022947
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt022947
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0336099
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0336099
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt06665
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt018543
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt061767
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt080310
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0-776
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1240
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt24624
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt315395
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt42
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt5225000
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/BookValueAmt0186347
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENT IN WKI
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt018543
IRS990ScheduleD/TotalBookValueOtherAssetsAmt06665
IRS990ScheduleD/TotalBookValueSecuritiesAmt0186347
IRS990ScheduleD/TotalLiabilityAmt0261766
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/TotalAssetsBOYAmt0491938
IRS990/TotalAssetsEOYAmt0551594
IRS990/TotalAssetsGrp/BOYAmt0491938
IRS990/TotalAssetsGrp/EOYAmt0551594
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt063966
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0220210
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01317145
IRS990/TotalFunctionalExpensesGrp/TotalAmt01537355
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0195284
IRS990/TotalLiabilitiesEOYAmt0261766
IRS990/TotalLiabilitiesGrp/BOYAmt0195284
IRS990/TotalLiabilitiesGrp/EOYAmt0261766
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0296654
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0289828
IRS990/TotalOtherCompensationAmt00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$551,594
Liabilities
$261,766
Net assets
$289,828
Revenue
$1,530,529
Expenses
$1,537,355
Net income
-$6,826
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
2021Detailed filing. Detailed filing data is available for this year.$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