Civic Intelligence

Grand Rapids Speedway Inc

990 • Fiscal year 2023 • EIN 84-4017266

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 09, 2024

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.

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

56th percentile

0.00x

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

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Net Margin

32nd percentile

-6.3%

Higher net margin than 32% of similar nonprofits.

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

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.

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Asset Growth

14th percentile

-30%

Faster asset growth than 14% of similar nonprofits.

2023 filings • 501(c)4 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

68th percentile

17%

Faster revenue growth than 68% of similar nonprofits.

2023 filings • 501(c)4 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$42,314

Down $17,924 (-30%) from 2022

Net Assets

Down

$42,314

Down $17,924 (-30%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin32nd percentile

Revenue

Up

$284,996

Up $41,366 (+17%) from 2022

Expenses

Up

$302,920

Up $32,268 (+12%) from 2022

Net Income

Up

-$17,924

Up $9,098 (+34%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth14th 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

2023

Assets$42,314
Liabilities$0
Net Assets$42,314
Open 2023 Filing

Operations Trend

Revenue Growth68th 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

2023

Revenue$284,996
Expenses$302,920
Net Income-$17,924
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 9, 2024
Return Version
2023v5.1
Gross Receipts
$371,588
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$60,238$42,314▼ $17,924
Land, Buildings, and Equipment, Net$37,566$23,019▼ $14,547
Savings and Temporary Cash Investments$12,255$14,830▲ $2,575
Cash and Non-Interest-Bearing Accounts$10,417$4,465▼ $5,952
Accounts Receivable-$0-
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$60,238$42,314▼ $17,924
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$60,238$42,314▼ $17,924
Total Liabilities and Net Assets / Fund Balance$60,238$42,314▼ $17,924

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$23,019$66,919$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
Becki OjaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$840
Program Service Revenue
$239,536
Investment Income
$9
Other Revenue
$44,611
Change in Net Assets
$-17,924
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$296,845
Grants and Similar Amounts Paid$6,075
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising-$19,559-$19,559
Occupancy$18,391--$18,391
Depreciation Depletion$14,547--$14,547
Insurance$12,345--$12,345
All Other Expenses$7,892$2,697-$10,589
Other Expenses$7,796$6,725-$6,725
Grants to Domestic Orgs$6,075--$6,075
Fees for Services Accounting-$2,510-$2,510
Total Functional Expenses$271,429$31,491$0$302,920
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
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 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
2024-07-09
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/TotalAssetsEOYAmt042314
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IRS990/TotalProgramServiceRevenueAmt0239536
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0BOB BROKING
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-09
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ReturnHeader/Filer/EIN0844017266
ReturnHeader/Filer/PhoneNum02182592109
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0464474289
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Accurant LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010700 Normandale Blvd Suite 202
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Bloomington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055437
ReturnHeader/PreparerPersonGrp/PhoneNum06122329380
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KENNETH ROWE
ReturnHeader/ReturnTs02024-07-09T06:59:36-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BOB
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BROKING
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$42,314
Liabilities
$0
Net assets
$42,314
Revenue
$284,996
Expenses
$302,920
Net income
-$17,924
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
2023Detailed filing. Detailed filing data is available for this year.$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
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