Civic Intelligence

Laguna Seca Raceway Foundation

990 • Fiscal year 2022 • EIN 75-3088903

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

Organization ProfileWWW.LSRFND.ORG
PO Box 2538Monterey, CA 93942

(831) 809-7309

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

98th percentile

95%

Higher net margin than 98% of similar nonprofits.

2022 filings • 501(c)3 • <$500k 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)3 • <$500k nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Balance Sheet
Liabilities / Assets58th percentile

Assets

Up

$433,473

Up $96,052 (+28%) from 2016

Net Assets

Up

$433,473

Up $96,395 (+29%) from 2016

Liabilities

Down

$0

Down $343 (-100%) from 2016

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin98th percentile

Revenue

Up

$312,710

Up $307,933 (+6446%) from 2016

Expenses

Up

$15,666

Up $10,182 (+186%) from 2016

Net Income

Up

$297,044

Up $297,751 (+42115%) from 2016

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$800K$600K$400K$200K$0Assets 2011: $360,622Liabilities 2011: $2,207Net Assets 2011: $358,4152011Assets 2012: $388,487Liabilities 2012: $755Net Assets 2012: $387,7322012Assets 2013: $185,471Liabilities 2013: $996Net Assets 2013: $184,4752013Assets 2014: $340,680Liabilities 2014: $402Net Assets 2014: $340,2782014Assets 2015: $338,187Liabilities 2015: $402Net Assets 2015: $337,7852015Assets 2016: $337,421Liabilities 2016: $343Net Assets 2016: $337,0782016Assets 2022: $433,473Liabilities 2022: $0Net Assets 2022: $433,4732022Assets 2023: $500,278Liabilities 2023: $0Net Assets 2023: $500,2782023Assets 2024: $721,164Liabilities 2024: $0Net Assets 2024: $721,1642024

Highlighted filing

2022

Assets$433,473
Liabilities$0
Net Assets$433,473
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KRevenue 2011: $48,851Expenses 2011: $10,594Net Income 2011: $38,2572011Revenue 2012: $41,562Expenses 2012: $12,245Net Income 2012: $29,3172012Revenue 2013: $22,692Expenses 2013: $225,949Net Income 2013: -$203,2572013Revenue 2014: $168,500Expenses 2014: $12,697Net Income 2014: $155,8032014Revenue 2015: $10,781Expenses 2015: $13,274Net Income 2015: -$2,4932015Revenue 2016: $4,777Expenses 2016: $5,484Net Income 2016: -$7072016Revenue 2022: $312,710Expenses 2022: $15,666Net Income 2022: $297,0442022Revenue 2023: $87,780Expenses 2023: $33,682Net Income 2023: $54,0982023Revenue 2024: $725,611Expenses 2024: $515,147Net Income 2024: $210,4642024

Highlighted filing

2022

Revenue$312,710
Expenses$15,666
Net Income$297,044
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$372,608
Mission and Program Overview

Mission

The organization raises funds for the construction and improvement of facilities that will be owned by government agencies.

To solicit donations to provide funding for major improvements to the track at laguna seca recreational area in monterey county, california and to support the motor sports tradition and community involvement, civic enhancement, environmental improvement, economic development, and charitable programs of its operator.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$163,780$433,473▲ $269,693
Cash and Non-Interest-Bearing Accounts$1,678$250,800▲ $249,122
Investments Other Securities$162,102$182,673▲ $20,571
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$163,780$433,473▲ $269,693
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$163,780$433,473▲ $269,693
Total Liabilities and Net Assets / Fund Balance$163,780$433,473▲ $269,693

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$182,673--
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Ross MerrillPresident
Ned SpiekerVice President
Kenneth SchleyDirector
Danny SullivanDirector Emeritus
Richard RenardExecutive Director
Carl AndersonMember
Gordon MccallMember
Martin LauberMember
Paul PfannerMember
Arthur CookSecretary
Steve FieldsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$368,788
Program Service Revenue
$0
Investment Income
$3,820
Other Revenue
$-59,898
All Other Contributions
$156,770
Change in Net Assets
$297,044
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$15,666
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
Office Expenses-$1,729-$1,729
Other Expenses-$1,345-$1,345
Fees for Services Accounting-$1,247-$1,247
Advertising-$1,151-$1,151
Insurance-$1,147-$1,147
Information Technology-$299-$299
Fees for Service Investment Mgmnt Fees-$92-$92
Total Functional Expenses$0$15,666$0$15,666
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$59,898
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Vintage Sportscar Race Weekend$212,018-$7,124-
Total Events$212,018-$59,898$-59,898
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
No
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
No
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

“There are no committees with authority to act on behalf of the governing body.”

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

“The 990 draft is reviewed by the president before it is filed.”

Form 990, Part VI, Section C, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Laguna Seca Raceway Foundation
EIN
75-3088903
Phone
8318097309
Address
PO BOX 2538, MONTEREY, CA 93942

Signing Officer

Name
Ross Merrill
Title
Treasurer
Phone
8318097309
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ross Merrill
Formed
2002
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
11

Preparer

Firm
Cliftonlarsonallen Llp
Address
1188 PADRE DRIVE STE 101, SALINAS, CA 93901
Preparer
Kiely Holcomb CPA
Phone
8317596300
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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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IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt059898
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0VINTAGE SPORTSCAR RACE WEEKEND
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0212018
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 DRAFT IS REVIEWED BY THE PRESIDENT BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$433,473
Liabilities
$0
Net assets
$433,473
Revenue
$312,710
Expenses
$15,666
Net income
$297,044
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.21$0.00$7.21$7.26$5.15$2.10
2023Detailed filing. Detailed filing data is available for this year.$5.00$0.00$5.00$0.88$0.34$0.54
2022Detailed filing. Detailed filing data is available for this year.$4.33$0.00$4.33$3.13$0.16$2.97
2016Detailed filing. Detailed filing data is available for this year.$3.37$0.00$3.37$0.05$0.05$0.01
2015Detailed filing. Detailed filing data is available for this year.$3.38$0.00$3.38$0.11$0.13$0.02
2014Detailed filing. Detailed filing data is available for this year.$3.41$0.00$3.40$1.69$0.13$1.56
2013Detailed filing. Detailed filing data is available for this year.$1.85$0.01$1.84$0.23$2.26$2.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.88$0.01$3.88$0.42$0.12$0.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.61$0.02$3.58$0.49$0.11$0.38