Civic Intelligence

Tbc-Racing Inc

EIN 37-2028644 • 501(c)3 • Bethesda, MD

Profile

Tbc-racing is a volunteer directed, nonprofit, educational organization offering rowing instruction to people of all ages, income and levels of physical ability. It shall support and provide access to amateur rowing programs in the metropolitan washington, dc area.

6109 Rudyard DrBethesda, MD 20814

www.tbcracing.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

81st percentile

0.44x

Higher debt load relative to assets than 81% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

56th percentile

0.11x

Higher debt load relative to revenue than 56% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

43rd percentile

1.5%

Higher net margin than 43% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

63rd percentile

$92,500

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 6.5% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

29th percentile

-3.2%

Faster asset growth than 29% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

65th percentile

18%

Faster revenue growth than 65% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$341,965

Down $11,151 (-3.2%) from 2023

Liabilities

Down

$151,813

Down $32,570 (-18%) from 2023

Net Assets

Up

$190,152

Up $21,419 (+13%) from 2023

Operations
Liabilities / Revenue56th percentileNet Margin43rd percentile

Revenue

Up

$1,426,855

Up $214,769 (+18%) from 2023

Expenses

Up

$1,405,436

Up $229,677 (+20%) from 2023

Net Income

Down

$21,419

Down $14,908 (-41%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth29th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400K$300K$200K$100K$0Assets 2022: $213,066Liabilities 2022: $71,058Net Assets 2022: $142,0082022Assets 2023: $353,116Liabilities 2023: $184,383Net Assets 2023: $168,7332023Assets 2024: $341,965Liabilities 2024: $151,813Net Assets 2024: $190,1522024

Highlighted filing

2024

Assets$341,965
Liabilities$151,813
Net Assets$190,152
Open 2024 Filing

Operations Trend

Revenue Growth65th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0Revenue 2022: $1,092,665Expenses 2022: $950,657Net Income 2022: $142,0082022Revenue 2023: $1,212,086Expenses 2023: $1,175,759Net Income 2023: $36,3272023Revenue 2024: $1,426,855Expenses 2024: $1,405,436Net Income 2024: $21,4192024

Highlighted filing

2024

Revenue$1,426,855
Expenses$1,405,436
Net Income$21,419
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$341,965
Liabilities
$151,813
Net assets
$190,152
Revenue
$1,426,855
Expenses
$1,405,436
Net income
$21,419
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.34$0.15$0.19$1.43$1.41$0.02
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$0.18$0.17$1.21$1.18$0.04
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.21$0.07$0.14$1.09$0.95$0.14
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 23, 2025
Return Version
2024v5.1
Gross Receipts
$1,426,855
Mission and Program Overview

Mission

Tbc-racing is a volunteer directed, nonprofit, educational organization offering rowing instruction to people of all ages, income and levels of physical ability. It shall support and provide access to amateur rowing programs in the metropolitan washington, dc area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$257,813$342,125▲ $84,312
Rtn Earn Endowment Incm Other Fnds$168,733$190,152▲ $21,419
Cash and Non-Interest-Bearing Accounts$95,303$-160▼ $95,463
Total Assets$353,116$341,965▼ $11,151
Liabilities
Mortgage Notes Payable Secured by Investment Property$184,383$151,608▼ $32,775
Accounts Payable and Accrued Expenses-$205-
Total Liabilities$184,383$151,813▼ $32,570
Net Assets / Fund Balance
Total Net Assets Fund Balance$168,733$190,152▲ $21,419
Total Liabilities and Net Assets / Fund Balance$353,116$341,965▼ $11,151

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$342,125--
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Charles M RussellChairmanPT$92,500$92,500
Catherine RussellBoard MemberPT$37,500$37,500

Board Members and Trustees

NameTitle
Bryan TylanderBoard Member
Elliott LaneBoard Member
Kate RobertsBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$61,060
Program Service Revenue
$1,365,795
Investment Income
$0
Other Revenue
$0
All Other Contributions
$26,820
Change in Net Assets
$21,419
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,176,600
Salaries, Compensation, and Employee Benefits$228,836
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$366,285--$366,285
Fees for Services Other$341,312--$341,312
Travel$249,993--$249,993
Current Officers, Directors, Trustees, and Key Employees$130,000--$130,000
Interest$99,192--$99,192
Other Salaries and Wages$80,280--$80,280
Advertising$44,451--$44,451
Occupancy$28,423--$28,423
Insurance$26,187--$26,187
Office Expenses$20,757--$20,757
Payroll Taxes$18,556--$18,556
Total Functional Expenses$1,405,436$0$0$1,405,436
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraiser$34,240$34,240-$34,240
Total Events$34,240$34,240-$34,240
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
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
No
Management duties delegated
No

Governance Explanations

Governing body meeting documentation Part VI line 8A

“Minutes of each board meeting are kept and are available upon request.”

Form 990 governing body review Part VI line 11

“The governing body reviews the form 990 before filing.”

Conflict of interest policy compliance Part VI line 12C

“Tbc racing has a conflict of interest policy.”

Governing documents etc available to public Part VI line 19

“Governing documents are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Tbc-racing Inc
EIN
37-2028644
In Care Of
% CHARLES M RUSSELL
Phone
7035977690
Address
6109 RUDYARD DR, Bethesda, MD 20814

Signing Officer

Name
Charles M Russell
Title
Chairman
Phone
7035977690
Signed
2025-04-23
Discuss with paid preparer
Yes

Organization Details

Formed
2022
Legal Domicile
Md
Voting Board Members
5
Independent Board Members
1
Employees
6

Preparer

Firm
Flax CPA & Business Solutions
Address
4514 4th Rd N, Arlington, VA 22203
Preparer
Callie Cash
Phone
8722168638
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“CONTRACTOR FEES $341,312”

List of other expenses Part IX line 24E

“NONE”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TBC RACING HAS A CONFLICT OF INTEREST POLICY.
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IRS990/TotalContributionsAmt061060
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IRS990/TotalFunctionalExpensesGrp/TotalAmt01405436
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0184383
IRS990/TotalLiabilitiesEOYAmt0151813
IRS990/TotalLiabilitiesGrp/BOYAmt0184383
IRS990/TotalLiabilitiesGrp/EOYAmt0151813
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0168733
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0190152
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01405436
IRS990/TotalProgramServiceRevenueAmt01365795
IRS990/TotalReportableCompFromOrgAmt0130000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01365795
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01426855
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0353116
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0341965
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0249993
IRS990/TravelGrp/TotalAmt0249993
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0www.tbcracing.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CHARLES M RUSSELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum07035977690
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TBC-RACING INC
ReturnHeader/Filer/BusinessNameControlTxt0TBC-
ReturnHeader/Filer/EIN0372028644
ReturnHeader/Filer/InCareOfNm0% CHARLES M RUSSELL
ReturnHeader/Filer/PhoneNum07035977690
ReturnHeader/Filer/USAddress/AddressLine1Txt06109 RUDYARD DR
ReturnHeader/Filer/USAddress/CityNm0Bethesda
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd020814
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0853504567
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Flax CPA & Business Solutions
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04514 4th Rd N
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Arlington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd022203
ReturnHeader/PreparerPersonGrp/PhoneNum08722168638
ReturnHeader/PreparerPersonGrp/PreparationDt02025-06-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CALLIE CASH
ReturnHeader/ReturnTs02025-06-29T10:53:49-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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