Civic Intelligence

World Karting Association Inc

990 • Fiscal year 2022 • EIN 31-0810666

Dec 01, 2021 to Nov 30, 2022 • Filed on Aug 07, 2023

Organization ProfileWORLDKARTING.COM
560 Pitts School Rd NW STE GConcord, NC 28027

(704) 455-1606

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.45x

Higher debt load relative to assets than 73% of similar nonprofits.

2022 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

41st percentile

0.17x

Higher debt load relative to revenue than 41% of similar nonprofits.

2022 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2022

Net Margin

35th percentile

1.2%

Higher net margin than 35% of similar nonprofits.

2022 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2022

Asset Growth

54th percentile

2.7%

Faster asset growth than 54% of similar nonprofits.

2022 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

30th percentile

1.4%

Faster revenue growth than 30% of similar nonprofits.

2022 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$566,349

Up $14,755 (+2.7%) from 2021

Net Assets

Up

$309,185

Up $19,357 (+6.7%) from 2021

Liabilities

Down

$257,164

Down $4,602 (-1.8%) from 2021

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin35th percentile

Revenue

Up

$1,552,440

Up $21,911 (+1.4%) from 2021

Expenses

Down

$1,533,083

Down $4,272 (-0.3%) from 2021

Net Income

Up

$19,357

Up $26,183 (+384%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth54th 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

2022

Assets$566,349
Liabilities$257,164
Net Assets$309,185
Open 2022 Filing

Operations Trend

Revenue Growth30th 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

2022

Revenue$1,552,440
Expenses$1,533,083
Net Income$19,357
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2021 to Nov 30, 2022
Signed
Aug 7, 2023
Return Version
2021v4.2
Gross Receipts
$1,552,440
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$289,828$309,185▲ $19,357
Investments Other Securities$186,347$186,347→ $0
Cash and Non-Interest-Bearing Accounts$156,003$144,447▼ $11,556
Savings and Temporary Cash Investments$107,681$127,479▲ $19,798
Accounts Receivable$76,355$86,903▲ $10,548
Land, Buildings, and Equipment, Net$18,543$11,816▼ $6,727
Total Assets$551,594$566,349▲ $14,755
Other Assets Total$6,665$9,357▲ $2,692
Liabilities
Other Liabilities$261,766$225,944▼ $35,822
Accounts Payable and Accrued Expenses-$31,220-
Total Liabilities$261,766$257,164▼ $4,602
Net Assets / Fund Balance
Total Net Assets Fund Balance$289,828$309,185▲ $19,357
Total Liabilities and Net Assets / Fund Balance$551,594$566,349▲ $14,755

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements-$336,099$336,099
Other Land Buildings$11,816$68,494$80,310
Equipment-$22,947$22,947
Other Assets Org$9,357--
Other Securities$186,347--
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Mike TretraultChairman
Kevin WilliamsPresident
Robert HarperVice President
Dale CoffeyDistrict 1 Trustee
Robby HarperDistrict 2 Trustee
Chuck GafrararDistrict 3 Trustee
Todd BrownDistrict 4 Trustee
Scott SandersDistrict 5 Trustee
Pat SlatteryDistrict 6 Trustee
Dale Swartz JrDistrict 7 Trustee
Jerry WhiteDistrict 8 Trustee
Chuck GafrararSecretary
Scott SandersSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$66,203
Program Service Revenue
$1,486,115
Investment Income
$0
Other Revenue
$122
Change in Net Assets
$19,357
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,432,052
Salaries, Compensation, and Employee Benefits$101,031
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$87,490-$87,490
Occupancy-$55,919-$55,919
All Other Expenses$11,878$7,870-$19,748
Fees for Services Other-$18,710-$18,710
Office Expenses$461$13,971-$14,432
Interest$12,905--$12,905
Travel$7,629--$7,629
Depreciation Depletion$4,257$2,470-$6,727
Payroll Taxes-$6,618-$6,618
Advertising$5,546--$5,546
Other Employee Benefits-$4,868-$4,868
Insurance$4,106--$4,106
Fees for Services Accounting-$2,269-$2,269
Pension Plan Contributions-$2,055-$2,055
Fees for Services Legal-$2,013-$2,013
Other Expenses$10--$10
Total Functional Expenses$1,328,830$204,253$0$1,533,083
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
Com Stock$225,000
Trailer Loan$1,000
Deferred Income$720
Rounding-
SBA Loan-
Open bal equity-
Payroll Liabilities$-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
560 Pitts School Rd NW STE G, CONCORD, NC 28027

Signing Officer

Name
Michael Tetreault
Title
Chairman
Phone
7044551606
Signed
2023-08-07
Discuss with paid preparer
Yes

Organization Details

Formed
1985
Legal Domicile
Oh
Voting Board Members
13
Independent Board Members
13
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/TotalAmt1143765
IRS990/OtherExpensesGrp/TotalAmt25149
IRS990/OtherExpensesGrp/TotalAmt310
IRS990/OtherLiabilitiesGrp/BOYAmt0261766
IRS990/OtherLiabilitiesGrp/EOYAmt0225944
IRS990/OtherRevenueMiscGrp/BusinessCd0713990
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0122
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0122
IRS990/OtherRevenueTotalAmt0122
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt087490
IRS990/OtherSalariesAndWagesGrp/TotalAmt087490
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06618
IRS990/PayrollTaxesGrp/TotalAmt06618
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt02055
IRS990/PensionPlanContributionsGrp/TotalAmt02055
IRS990/PoliticalCampaignActyInd0false
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0713990
IRS990/ProgramServiceRevenueGrp/BusinessCd1524298
IRS990/ProgramServiceRevenueGrp/Desc0RACE INCOME
IRS990/ProgramServiceRevenueGrp/Desc1INSURANCELICENSE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01223761
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1262354
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01223761
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1262354
IRS990/ProgSrvcAccomActy2Grp/Desc0WKA MAINTAINS A DIRECT MAIL PROGRAM TO KEEP MEMBERS INFORMED OF ACTIVITIES, EVENTS, AND ELECTIONS ETC.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt010695
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0122
IRS990/ProgSrvcAccomActy3Grp/Desc0SUPPLY INSURANCE FOR MEMBERS DURING ASSOCIATION SANCTIONED EVENTS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt04106
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0262354
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt063966
IRS990/PYInvestmentIncomeAmt023
IRS990/PYOtherExpensesAmt01436587
IRS990/PYOtherRevenueAmt0894
IRS990/PYProgramServiceRevenueAmt01465646
IRS990/PYRevenuesLessExpensesAmt0-6826
IRS990/PYSalariesCompEmpBnftPaidAmt0100768
IRS990/PYTotalExpensesAmt01537355
IRS990/PYTotalRevenueAmt01530529
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt019357
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01223761
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0289828
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0309185
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0107681
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0127479
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt022947
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt022947
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0336099
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0336099
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt09357
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEPOSITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt011816
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt068494
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt080310
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0-776
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1720
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3225000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payroll Liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Deferred Income
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Trailer Loan
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Com Stock
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5SBA Loan
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc6Open bal equity
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0186347
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENT IN WKI
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011816
IRS990ScheduleD/TotalBookValueOtherAssetsAmt09357
IRS990ScheduleD/TotalBookValueSecuritiesAmt0186347
IRS990ScheduleD/TotalLiabilityAmt0225944
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/TotalAssetsBOYAmt0551594
IRS990/TotalAssetsEOYAmt0566349
IRS990/TotalAssetsGrp/BOYAmt0551594
IRS990/TotalAssetsGrp/EOYAmt0566349
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt066203
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0204253
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01328830
IRS990/TotalFunctionalExpensesGrp/TotalAmt01533083
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0261766
IRS990/TotalLiabilitiesEOYAmt0257164
IRS990/TotalLiabilitiesGrp/BOYAmt0261766
IRS990/TotalLiabilitiesGrp/EOYAmt0257164
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0289828
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0309185
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01328830
IRS990/TotalProgramServiceRevenueAmt01486115
IRS990/TotalReportableCompFromOrgAmt00

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Filings

Displayed year

2022 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$566,349
Liabilities
$257,164
Net assets
$309,185
Revenue
$1,552,440
Expenses
$1,533,083
Net income
$19,357
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