Civic Intelligence

Grand Rapids Speedway Inc

990 • Fiscal year 2022 • EIN 84-4017266

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

Organization Profilewww.grandrapidsspeedway.net
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

56th percentile

0.00x

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

2022 filings • 501(c)4 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

56th percentile

0.00x

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

2022 filings • 501(c)4 • <$500k nonprofits • Source year 2022

Net Margin

25th percentile

-11%

Higher net margin than 25% of similar nonprofits.

2022 filings • 501(c)4 • <$500k nonprofits • Source year 2022

Top Officer Pay

87th percentile

$0

Higher top officer pay than 87% of similar nonprofits.

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

2022 filings • 501(c)4 • <$500k nonprofits • Source year 2022

Asset Growth

15th percentile

-25%

Faster asset growth than 15% of similar nonprofits.

2022 filings • 501(c)4 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

12th percentile

-36%

Faster revenue growth than 12% of similar nonprofits.

2022 filings • 501(c)4 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$60,238

Down $19,822 (-25%) from 2021

Net Assets

Down

$60,238

Down $19,822 (-25%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin25th percentile

Revenue

Down

$243,630

Down $134,858 (-36%) from 2021

Expenses

Down

$270,652

Down $89,188 (-25%) from 2021

Net Income

Down

-$27,022

Down $45,670 (-245%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

2022

Assets$60,238
Liabilities$0
Net Assets$60,238
Open 2022 Filing

Operations Trend

Revenue Growth12th percentile

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

2022

Revenue$243,630
Expenses$270,652
Net Income-$27,022
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
$275,176
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$80,060$60,238▼ $19,822
Land, Buildings, and Equipment, Net$40,560$37,566▼ $2,994
Savings and Temporary Cash Investments$12,251$12,255▲ $4
Cash and Non-Interest-Bearing Accounts$26,749$10,417▼ $16,332
Accounts Receivable$500$0▼ $500
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$80,060$60,238▼ $19,822
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$80,060$60,238▼ $19,822
Total Liabilities and Net Assets / Fund Balance$80,060$60,238▼ $19,822

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$37,566$52,372$89,938
Compensation and Service Providers
Top Officer Pay87th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$710
Program Service Revenue
$209,917
Investment Income
$7
Other Revenue
$32,996
Change in Net Assets
$-27,022
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$141,697
Other Expenses$128,955
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$141,697--$141,697
Occupancy$29,977--$29,977
Depreciation Depletion$18,932--$18,932
Insurance$18,240--$18,240
Advertising$14,532--$14,532
All Other Expenses$496$9,067-$9,563
Other Expenses$5,534--$5,534
Office Expenses-$2,793-$2,793
Total Functional Expenses$258,792$11,860$0$270,652
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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, Part VI, Section B, Line 11B

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Grand Rapids Speedway
EIN
84-4017266
Phone
2182592109
Address
PO Box 424, Grand Rapids, MN 55744

Signing Officer

Name
Bob Broking
Title
President
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bob Broking
Formed
2020
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
0
Employees
0

Preparer

Firm
Accurant LLC
Address
10700 Normandale Blvd Suite 202, Bloomington, MN 55437
Preparer
Kenneth Rowe
Phone
6122329380
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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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IRS990/TotalFunctionalExpensesGrp/TotalAmt0270652
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0BOB BROKING
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Grand Rapids Speedway
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ReturnHeader/Filer/PhoneNum02182592109
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0464474289
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010700 Normandale Blvd Suite 202
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Bloomington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
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ReturnHeader/PreparerPersonGrp/PhoneNum06122329380
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KENNETH ROWE
ReturnHeader/ReturnTs02023-11-14T18:57:46-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BOB
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ReturnHeader/TaxPeriodBeginDt02022-01-01
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
$60,238
Liabilities
$0
Net assets
$60,238
Revenue
$243,630
Expenses
$270,652
Net income
-$27,022
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
2022Detailed filing. Detailed filing data is available for this year.$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
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.71$0.10$0.61$3.36$2.74$0.61
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)4 • <$500k nonprofits