Civic Intelligence

Circuit Events Local Organizing Committee

990 • Fiscal year 2016 • EIN 45-2727397

Jan 01, 2016 to Dec 31, 2016 • Filed on May 15, 2017

Organization ProfileN/A
9201 Circuit Of The Americas BlvdAustin, TX 78617

(512) 655-6280

Siviq Scores

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

Liabilities / Assets

95th percentile

1.00x

Higher debt load relative to assets than 95% of similar nonprofits.

2016 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

7th percentile

0.01x

Higher debt load relative to revenue than 7% of similar nonprofits.

2016 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2016

Net Margin

32nd percentile

0.0%

Higher net margin than 32% of similar nonprofits.

2016 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

7th percentile

$0

Higher top officer pay than 7% of similar nonprofits.

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

2016 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2016

Asset Growth

1st percentile

-45%

Faster asset growth than 1% of similar nonprofits.

2016 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

99th percentile

667%

Faster revenue growth than 99% of similar nonprofits.

2016 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$345,826

Down $282,349 (-45%) from 2015

Net Assets

Flat

$1,050

Flat from 2015

Liabilities

Down

$344,776

Down $282,349 (-45%) from 2015

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin32nd percentile

Revenue

Up

$29,596,641

Up $25,738,631 (+667%) from 2015

Expenses

Up

$29,596,641

Up $25,738,631 (+667%) from 2015

Net Income

Flat

$0

Flat from 2015

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2012: $941Liabilities 2012: $0Net Assets 2012: $9412012Assets 2013: $141,447Liabilities 2013: $140,477Net Assets 2013: $9702013Assets 2014: $595,391Liabilities 2014: $594,341Net Assets 2014: $1,0502014Assets 2015: $628,175Liabilities 2015: $627,125Net Assets 2015: $1,0502015Assets 2016: $345,826Liabilities 2016: $344,776Net Assets 2016: $1,0502016Assets 2017: $49,630Liabilities 2017: $48,580Net Assets 2017: $1,0502017Assets 2018: $870,656Liabilities 2018: $869,606Net Assets 2018: $1,0502018Assets 2019: $1,245,214Liabilities 2019: $1,244,144Net Assets 2019: $1,0702019Assets 2020: $929,845Liabilities 2020: $928,775Net Assets 2020: $1,0702020Assets 2021: $5,758,250Liabilities 2021: $5,757,180Net Assets 2021: $1,0702021Assets 2022: $2,475,880Liabilities 2022: $2,474,810Net Assets 2022: $1,0702022Assets 2023: $1,290,431Liabilities 2023: $1,289,360Net Assets 2023: $1,0712023Assets 2024: $1,597,765Liabilities 2024: $1,596,694Net Assets 2024: $1,0712024

Highlighted filing

2016

Assets$345,826
Liabilities$344,776
Net Assets$1,050
Open 2016 Filing

Operations Trend

Revenue Growth99th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$80M$60M$40M$20M$0Revenue 2012: $29,338,369Expenses 2012: $29,337,428Net Income 2012: $9412012Revenue 2013: $3,112,465Expenses 2013: $3,112,436Net Income 2013: $292013Revenue 2014: $58,766,025Expenses 2014: $58,765,945Net Income 2014: $802014Revenue 2015: $3,858,010Expenses 2015: $3,858,010Net Income 2015: $02015Revenue 2016: $29,596,641Expenses 2016: $29,596,641Net Income 2016: $02016Revenue 2017: $32,813,836Expenses 2017: $32,813,836Net Income 2017: $02017Revenue 2018: $28,350,109Expenses 2018: $28,350,109Net Income 2018: $02018Revenue 2019: $6,657,940Expenses 2019: $6,657,940Net Income 2019: $02019Revenue 2020: $28,795,471Expenses 2020: $28,795,471Net Income 2020: $02020Revenue 2021: $14,482,431Expenses 2021: $14,482,431Net Income 2021: $02021Revenue 2022: $29,370,475Expenses 2022: $29,370,475Net Income 2022: $02022Revenue 2023: $62,855,633Expenses 2023: $62,855,632Net Income 2023: $12023Revenue 2024: $54,145,048Expenses 2024: $54,145,048Net Income 2024: $02024

Highlighted filing

2016

Revenue$29,596,641
Expenses$29,596,641
Net Income$0
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 15, 2017
Return Version
2016v3.0
Gross Receipts
$29,596,641
Mission and Program Overview

Mission

The purpose of circuit events local organizing committee is to host: (1) the formula 1 united states grand prix (2) the fim road racing world championship (3) the world endurance championship series and the imsa weathertech sportscar championship, (4) the austin summer x games, and (5) other events qualifying under the texas major events reimbursement program, and to foster and promote the public interest for the city of austin, travis county, and the state of texas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$627,105$344,756▼ $282,349
Cash and Non-Interest-Bearing Accounts$1,070$1,070→ $0
Rtn Earn Endowment Incm Other Fnds$1,050$1,050→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$628,175$345,826▼ $282,349
Liabilities
Accounts Payable and Accrued Expenses$627,125$344,776▼ $282,349
Total Liabilities$627,125$344,776▼ $282,349
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,050$1,050→ $0
Total Liabilities and Net Assets / Fund Balance$628,175$345,826▼ $282,349
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Julia TaylorPresident/director
Drew ScheberleDirector
Ford SmithDirector
Sam BryantDirector
Anna PanossianSecretary/director
Wayne HollingsworthSecretary/director
Revenue and Support

Revenue Composition

Contributions and Grants
$29,596,641
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$103,345
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$29,493,296
Other Expenses$103,345
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$29,493,296
Fees for Services Legal---$90,858
Fees for Services Accounting---$7,655
Insurance---$4,832
Total Functional Expenses$0$0$0$29,596,641
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Circuit of the AmericasAustin, TX-A Source of Local Increment Required Under Texas Event Trust Fund for Qualification and Reimbursements for the 2016 Formula 1 United States Grand Prix, 2016 Motogp Championship, American Le Mans Series Racing, 2016 Fia World Endurance Championship, 2016 Tudor United Sportscar Challenge Championship, and the Austin Summer Xgames Extreme Sports Events.$29,493,296
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
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“The organization's governing body did not delegate authority, to act on its behalf, to an executive committee or similar committee.”

Form 990, Part VI, Section B, Line 11B

“Form 990 reviewed in board of directors meeting.”

Form 990, Part VI, Section B, Line 12C

“The board of directors held discussions and were reminded at board meetings of the conflict of interest policy.”

Form 990, Part VI, Section C, Line 19

“The organization is subject to state of texas open records requests. The organization will provide copies of documents to the public pursuant to such requests.”

FORM 990, PART VI, SECTION B, LINE 11B:

“Anna panossian (secretary/director) distributed a copy of the draft return to the directors for review.”

Filing and Contact Details

Filer

Filer Name
Circuit Events Local Organizing
EIN
45-2727397
Phone
5126556280
Address
9201 CIRCUIT OF THE AMERICAS BLVD, AUSTIN, TX 78617

Signing Officer

Name
Anna Panossian
Title
Secretary/director
Phone
5126556280
Signed
2017-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anna Panossian
Formed
2011
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Durbin Bennett Tax Advisors
Address
100 CONGRESS AVENUE SUITE 1600, AUSTIN, TX 78701
Preparer
Stephanie S Todd
Phone
5124394800
Raw XML Appendix300 raw XML fields

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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IRS990/MissionDesc0THE PURPOSE OF CIRCUIT EVENTS LOCAL ORGANIZING COMMITTEE IS TO HOST: (1) THE FORMULA 1 UNITED STATES GRAND PRIX (2) THE FIM ROAD RACING WORLD CHAMPIONSHIP (3) THE WORLD ENDURANCE CHAMPIONSHIP SERIES AND THE IMSA WEATHERTECH SPORTSCAR CHAMPIONSHIP, (4) THE AUSTIN SUMMER X GAMES, AND (5) OTHER EVENTS QUALIFYING UNDER THE TEXAS MAJOR EVENTS REIMBURSEMENT PROGRAM, AND TO FOSTER AND PROMOTE THE PUBLIC INTEREST FOR THE CITY OF AUSTIN, TRAVIS COUNTY, AND THE STATE OF TEXAS.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0A SOURCE OF LOCAL INCREMENT REQUIRED UNDER TEXAS EVENT TRUST FUND FOR QUALIFICATION AND REIMBURSEMENTS FOR THE 2016 FORMULA 1 UNITED STATES GRAND PRIX, 2016 MOTOGP CHAMPIONSHIP, AMERICAN LE MANS SERIES RACING, 2016 FIA WORLD ENDURANCE CHAMPIONSHIP, 2016 TUDOR UNITED SPORTSCAR CHALLENGE CHAMPIONSHIP, AND THE AUSTIN SUMMER XGAMES EXTREME SPORTS EVENTS.
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IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCH I, PART IV, INFORMATION ON GRANTS AND OTHER ASSISTANCE-ADDITIONAL INFO:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S GOVERNING BODY DID NOT DELEGATE AUTHORITY, TO ACT ON ITS BEHALF, TO AN EXECUTIVE COMMITTEE OR SIMILAR COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 REVIEWED IN BOARD OF DIRECTORS MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS HELD DISCUSSIONS AND WERE REMINDED AT BOARD MEETINGS OF THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION IS SUBJECT TO STATE OF TEXAS OPEN RECORDS REQUESTS. THE ORGANIZATION WILL PROVIDE COPIES OF DOCUMENTS TO THE PUBLIC PURSUANT TO SUCH REQUESTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANNA PANOSSIAN (SECRETARY/DIRECTOR) DISTRIBUTED A COPY OF THE DRAFT RETURN TO THE DIRECTORS FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B:
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IRS990/TotalLiabilitiesGrp/EOYAmt0344776
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01050
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01050
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt029493296
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt029596641
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0628175
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0345826
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt09201 CIRCUIT OF THE AMERICAS BLVD
IRS990/USAddress/CityNm0AUSTIN
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd078617
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ANNA PANOSSIAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05126556280
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CIRCUIT EVENTS LOCAL ORGANIZING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COMMITTEE
ReturnHeader/Filer/BusinessNameControlTxt0CIRC
ReturnHeader/Filer/EIN0452727397
ReturnHeader/Filer/PhoneNum05126556280
ReturnHeader/Filer/USAddress/AddressLine1Txt09201 CIRCUIT OF THE AMERICAS BLVD
ReturnHeader/Filer/USAddress/CityNm0AUSTIN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd078617
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0D76C44746EAEF76AFFC37569D8DB44B972A4430C
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0B9567DCA561602247C432AFDD38A87927B7A6E20
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0216.201.156.210
ReturnHeader/FilingSecurityInformation/IPDt02017-05-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:56:32
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472401640
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DURBIN BENNETT TAX ADVISORS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 CONGRESS AVENUE SUITE 1600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AUSTIN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd078701
ReturnHeader/PreparerPersonGrp/PhoneNum05124394800
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEPHANIE S TODD
ReturnHeader/ReturnTs02017-05-15T14:17:48-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$345,826
Liabilities
$344,776
Net assets
$1,050
Revenue
$29,596,641
Expenses
$29,596,641
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.60$1.60$0.00$54.1$54.1$0.00
2023Summary only. Only limited summary data is available for this year.$1.29$1.29$0.00$62.9$62.9$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.48$2.47$0.00$29.4$29.4$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.76$5.76$0.00$14.5$14.5$0.00
2020Summary only. Only limited summary data is available for this year.$0.93$0.93$0.00$28.8$28.8$0.00
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.25$1.24$0.00$6.66$6.66$0.00
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.87$0.87$0.00$28.4$28.4$0.00
2017Summary only. Only limited summary data is available for this year.$0.05$0.05$0.00$32.8$32.8$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.35$0.34$0.00$29.6$29.6$0.00
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.63$0.63$0.00$3.86$3.86$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.60$0.59$0.00$58.8$58.8$0.00
2013Summary only. Only limited summary data is available for this year.$0.14$0.14$0.00$3.11$3.11$0.00
2012Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$29.3$29.3$0.00