Civic Intelligence

Grand Rapids Speedway Inc

990 • Fiscal year 2020 • EIN 84-4017266

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization ProfileN/A
PO Box 424Grand Rapids, MN 55744

(218) 259-2109

Siviq Scores

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

Liabilities / Assets

79th percentile

0.14x

Higher debt load relative to assets than 79% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

68th percentile

0.03x

Higher debt load relative to revenue than 68% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Net Margin

72nd percentile

18%

Higher net margin than 72% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Top Officer Pay

86th percentile

$0

Higher top officer pay than 86% of similar nonprofits.

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

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

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

Source year 2020

Revenue Growth

Score unavailable

No value available

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

Source year 2020

Balance Sheet
Liabilities / Assets79th percentile

Assets

$71,412

No earlier filing loaded for comparison.

Net Assets

$61,412

No earlier filing loaded for comparison.

Liabilities

$10,000

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin72nd percentile

Revenue

$335,620

No earlier filing loaded for comparison.

Expenses

$274,208

No earlier filing loaded for comparison.

Net Income

$61,412

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$100K$50K$0Assets 2020: $71,412Liabilities 2020: $10,000Net Assets 2020: $61,4122020Assets 2021: $80,060Liabilities 2021: $0Net Assets 2021: $80,0602021Assets 2022: $60,238Liabilities 2022: $0Net Assets 2022: $60,2382022Assets 2023: $42,314Liabilities 2023: $0Net Assets 2023: $42,3142023Assets 2024: $34,428Liabilities 2024: $0Net Assets 2024: $34,4282024

Highlighted filing

2020

Assets$71,412
Liabilities$10,000
Net Assets$61,412
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$400K$200K$0-$200KRevenue 2020: $335,620Expenses 2020: $274,208Net Income 2020: $61,4122020Revenue 2021: $378,488Expenses 2021: $359,840Net Income 2021: $18,6482021Revenue 2022: $243,630Expenses 2022: $270,652Net Income 2022: -$27,0222022Revenue 2023: $284,996Expenses 2023: $302,920Net Income 2023: -$17,9242023Revenue 2024: $271,385Expenses 2024: $279,272Net Income 2024: -$7,8872024

Highlighted filing

2020

Revenue$335,620
Expenses$274,208
Net Income$61,412
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$335,620
Mission and Program Overview

Mission

We the members of grand rapids speedway inc. Are dedicated in the preservation of dirt track racing in our community. Inspiring interest in learning, convey important values of teamwork, sportmanship and perserverance. Provide a variety of family friendly entertainment for the betterment of our local and adjoining communities.

We the members of grand rapids speedway, inc. Are dedicated in the preservation of dirt track racing in our community. Inspiring interest in learning, convey important values of teamwork, sportmanship and perserverance. Provide a variety of family friendly entertainment for the betterment of our local and adjoining communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$49,600-
Cash and Non-Interest-Bearing Accounts-$19,412-
Pledges and Grants Receivable-$2,400-
Total Assets$0$71,412▲ $71,412
Liabilities
Unsecured Notes Loans Payable-$10,000-
Total Liabilities$0$10,000▲ $10,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$61,412-
Total Net Assets Fund Balance$0$61,412▲ $61,412
Total Liabilities and Net Assets / Fund Balance$0$71,412▲ $71,412

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$49,600$12,400$62,000
Compensation and Service Providers
Top Officer Pay86th percentile

Board Members and Trustees

NameTitle
Bob BrokingPresident
Caley EmersonBoard Member
Gary RegalBoard Member
Marty GroverBoard Member
Jodi BrokingTreasurer
Dale LaplantVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$335,620
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$324,420
Change in Net Assets
$61,412
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$165,748
Grants and Similar Amounts Paid$108,460
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$108,460--$108,460
All Other Expenses$32,873$6,103-$38,976
Fees for Services Other$26,413--$26,413
Occupancy$15,948--$15,948
Depreciation Depletion-$12,400-$12,400
Insurance$12,398--$12,398
Advertising$9,926--$9,926
Other Expenses$8,477--$8,477
Fees for Services Accounting$650--$650
Travel$422--$422
Total Functional Expenses$255,705$18,503$0$274,208
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
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Bob broking jodi broking president tresurer spouse”

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Grand Rapids Speedway Inc
EIN
84-4017266
Phone
2182592109
Address
PO BOX 424, GRAND RAPIDS, MN 55744

Signing Officer

Name
Bob Broking
Title
President
Phone
2182592109
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bob Broking
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
5
Employees
0

Preparer

Firm
Accurant LLC
Address
523 N MAIN ST, CARROLL, IA 51401-0036
Preparer
Kenneth Rowe
Phone
7127922464
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“We the members of grand rapids speedway, inc. Are dedicated in the preservation of dirt track racing in our community. Inspiring interest in learning, convey important values of teamwork, sportmanship and perserverance. Provide a variety of family friendly entertainment for the betterment of our local and adjoining communities.”

Form 990, Part IX, Line 24E

“Independent contractor 8,395 0 0 small equipment 6,018 0 0 facility repairs & maint. 0 4,746 0 fuel,gas & propane 3,897 0 0 sanction fee 3,385 0 0 grounds mainteance 3,194 0 0 safety 2,733 0 0 small tools & equip 2,280 0 0 office supplies 1,334 0 0 concession equip & repair 1,062 0 0 telephone 0 707 0 administrative fees 0 600 0 licenses & permits 315 0 0 meals & entertainment 260 0 0 bank charges 0 50 0 total 32,873 6,103 0”

Raw XML Appendix280 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/MissionDesc0WE THE MEMBERS OF GRAND RAPIDS SPEEDWAY, INC. ARE DEDICATED IN THE PRESERVATION OF DIRT TRACK RACING IN OUR COMMUNITY. INSPIRING INTEREST IN LEARNING, CONVEY IMPORTANT VALUES OF TEAMWORK, SPORTMANSHIP AND PERSERVERANCE. PROVIDE A VARIETY OF FAMILY FRIENDLY ENTERTAINMENT FOR THE BETTERMENT OF OUR LOCAL AND ADJOINING COMMUNITIES.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WE THE MEMBERS OF GRAND RAPIDS SPEEDWAY, INC. ARE DEDICATED IN THE PRESERVATION OF DIRT TRACK RACING IN OUR COMMUNITY. INSPIRING INTEREST IN LEARNING, CONVEY IMPORTANT VALUES OF TEAMWORK, SPORTMANSHIP AND PERSERVERANCE. PROVIDE A VARIETY OF FAMILY FRIENDLY ENTERTAINMENT FOR THE BETTERMENT OF OUR LOCAL AND ADJOINING COMMUNITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOB BROKING JODI BROKING PRESIDENT TRESURER SPOUSE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4INDEPENDENT CONTRACTOR 8,395 0 0 SMALL EQUIPMENT 6,018 0 0 FACILITY REPAIRS & MAINT. 0 4,746 0 FUEL,GAS & PROPANE 3,897 0 0 SANCTION FEE 3,385 0 0 GROUNDS MAINTEANCE 3,194 0 0 SAFETY 2,733 0 0 SMALL TOOLS & EQUIP 2,280 0 0 OFFICE SUPPLIES 1,334 0 0 CONCESSION EQUIP & REPAIR 1,062 0 0 TELEPHONE 0 707 0 ADMINISTRATIVE FEES 0 600 0 LICENSES & PERMITS 315 0 0 MEALS & ENTERTAINMENT 260 0 0 BANK CHARGES 0 50 0 TOTAL 32,873 6,103 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 24E
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/Filer/EIN0844017266
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0514010036
ReturnHeader/PreparerPersonGrp/PhoneNum07127922464
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KENNETH ROWE
ReturnHeader/ReturnTs02021-11-15T17:14:07-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BOB
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BROKING
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$71,412
Liabilities
$10,000
Net assets
$61,412
Revenue
$335,620
Expenses
$274,208
Net income
$61,412
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.34$0.00$0.34$2.71$2.79$0.08
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.42$0.00$0.42$2.85$3.03$0.18
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.60$0.00$0.60$2.44$2.71$0.27
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.80$0.00$0.80$3.78$3.60$0.19
2020Detailed filing. Detailed filing data is available for this year.$0.71$0.10$0.61$3.36$2.74$0.61