Civic Intelligence

Fifty Plus Racing Foundation Inc.

990 • Fiscal year 2019 • EIN 46-1279633

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

Organization ProfileFIFTYPLUSRACING.COM
801 Broad Street Suite 200Chattanooga, TN 37402

(423) 424-1845

Siviq Scores

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

Liabilities / Assets

37th percentile

0.03x

Higher debt load relative to assets than 37% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2019

Net Margin

100th percentile

104%

Higher net margin than 100% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

1st percentile

-63%

Faster asset growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets37th percentile

Assets

Down

$28,763

Down $48,410 (-63%) from 2018

Net Assets

Down

$27,903

Down $49,270 (-64%) from 2018

Liabilities

Up

$860

Up $860 from 2018

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

Down

-$47,461

Down $49,266 (-2729%) from 2018

Expenses

Up

$1,809

Up $415 (+30%) from 2018

Net Income

Down

-$49,270

Down $49,681 (-12088%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2013: $89,278Liabilities 2013: $67,105Net Assets 2013: $22,1732013Assets 2014: $9,861Liabilities 2014: $37,440Net Assets 2014: -$27,5792014Assets 2015: $45,833Liabilities 2015: $132,400Net Assets 2015: -$86,5672015Assets 2016: $172,472Liabilities 2016: $0Net Assets 2016: $172,4722016Assets 2017: $77,282Liabilities 2017: $0Net Assets 2017: $77,2822017Assets 2018: $77,173Liabilities 2018: $0Net Assets 2018: $77,1732018Assets 2019: $28,763Liabilities 2019: $860Net Assets 2019: $27,9032019Assets 2020: $33,202Liabilities 2020: $1,496Net Assets 2020: $31,7062020Assets 2021: $669,461Liabilities 2021: $2,010,000Net Assets 2021: -$1,340,5392021Assets 2022: $513,884Liabilities 2022: $1,676,043Net Assets 2022: -$1,162,1592022Assets 2023: $322,505Liabilities 2023: $1,650,031Net Assets 2023: -$1,327,5262023Assets 2024: $298,161Liabilities 2024: $1,357,860Net Assets 2024: -$1,059,6992024

Highlighted filing

2019

Assets$28,763
Liabilities$860
Net Assets$27,903
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$500K$0-$500K-$1.0M-$1.5MRevenue 2013: $98,868Expenses 2013: $87,126Net Income 2013: $11,7422013Revenue 2014: $337,940Expenses 2014: $387,692Net Income 2014: -$49,7522014Revenue 2015: $272,872Expenses 2015: $331,549Net Income 2015: -$58,6772015Revenue 2016: $278,872Expenses 2016: $19,833Net Income 2016: $259,0392016Revenue 2017: $9,666Expenses 2017: $104,856Net Income 2017: -$95,1902017Revenue 2018: $1,805Expenses 2018: $1,394Net Income 2018: $4112018Revenue 2019: -$47,461Expenses 2019: $1,809Net Income 2019: -$49,2702019Revenue 2020: $9,181Expenses 2020: $5,378Net Income 2020: $3,8032020Revenue 2021: -$1,326,139Expenses 2021: $46,743Net Income 2021: -$1,372,8822021Revenue 2022: $429,786Expenses 2022: $251,406Net Income 2022: $178,3802022Revenue 2023: $97,330Expenses 2023: $262,697Net Income 2023: -$165,3672023Revenue 2024: $370,114Expenses 2024: $168,186Net Income 2024: $201,9282024

Highlighted filing

2019

Revenue-$47,461
Expenses$1,809
Net Income-$49,270
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$1,438,898
Mission and Program Overview

Mission

Engaging in the promotion of public awareness and education of improved methods in the diagnosis, treatment and cure of alzheimer's disease and other dementia disorders.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$77,173$28,763▼ $48,410
Rtn Earn Endowment Incm Other Fnds$77,173$27,903▼ $49,270
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$77,173$28,763▼ $48,410
Liabilities
Other Liabilities$0$860▲ $860
Total Liabilities$0$860▲ $860
Net Assets / Fund Balance
Total Net Assets Fund Balance$77,173$27,903▼ $49,270
Total Liabilities and Net Assets / Fund Balance$77,173$28,763▼ $48,410
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
P Byron DefoorPresident
Ember SouchetAssistant Treasurer
Barry RaySecretary
Craig TaylorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,089,909
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-1,137,370
All Other Contributions
$728,614
Change in Net Assets
$-49,270
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,809
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting$497$498-$995
Other Expenses$29$29-$58
Total Functional Expenses$903$906$0$1,809
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$1,486,359
Fundraising Gross Income$348,989
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Chattanooga Motorcar Festival$710,284$348,989$1,031,018$-682,029
Total Events$710,284$348,989$1,486,359$-1,137,370
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
P Byron DefoorPresident of OrganizationUse of Facilities for Chattanooga Motorcar FestivalNo$141,471
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Intercompany$860
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
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 2

“All members are partners in related partnerships.”

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

“Form 990 was reviewed by the board before filing.”

Form 990, Part VI, Section C, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Fifty Plus Racing Foundation Inc
EIN
46-1279633
Phone
4234241845
Address
801 BROAD STREET SUITE 200, CHATTANOOGA, TN 37402

Signing Officer

Name
Craig Taylor
Title
Treasurer
Phone
4234241845
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
P Byron Defoor
Formed
2012
Legal Domicile
Tn
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

Firm
Lbmc Pc
Address
605 CHESTNUT STREET SUITE 1100, CHATTANOOGA, TN 37450
Preparer
Lucas Watson
Phone
4237566585
Raw XML Appendix348 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/TotalOtherCompensationAmt00
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IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0-1137370
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-47461
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt077173
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt028763
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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ReturnHeader/FilingSecurityInformation/IPTm015:27:28
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHATTANOOGA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd037450
ReturnHeader/PreparerPersonGrp/PhoneNum04237566585
ReturnHeader/PreparerPersonGrp/PreparationDt02020-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LUCAS WATSON
ReturnHeader/ReturnTs02020-11-16T12:21:35-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$28,763
Liabilities
$860
Net assets
$27,903
Revenue
-$47,461
Expenses
$1,809
Net income
-$49,270
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.30$1.36$1.06$0.37$0.17$0.20
2023Detailed filing. Detailed filing data is available for this year.$0.32$1.65$1.33$0.10$0.26$0.17
2022Detailed filing. Detailed filing data is available for this year.$0.51$1.68$1.16$0.43$0.25$0.18
2021Detailed filing. Detailed filing data is available for this year.$0.67$2.01$1.34$1.33$0.05$1.37
2020Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.01$0.01$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.05$0.00$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.08$0.00$0.08$0.00$0.00$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.08$0.00$0.08$0.01$0.10$0.10
2016Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.28$0.02$0.26
2015Detailed filing. Detailed filing data is available for this year.$0.05$0.13$0.09$0.27$0.33$0.06
2014Summary only. Only limited summary data is available for this year.$0.01$0.04$0.03$0.34$0.39$0.05
2013Summary only. Only limited summary data is available for this year.$0.09$0.07$0.02$0.10$0.09$0.01