C T Barrel Racing Inc

Nonprofit profile at a glance

EIN
472427227
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Killeen, TX, USA
Phone
2547024022
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Amateur Sports Competitions

Reported finances

Revenue
$228,671
Expenses
$228,519
Assets
$26,782
Liabilities
$1,985

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • LESHIA KNOX (PRESIDENT)

Highest reported compensation

  • JENNIFER WALZEL (DIRECTOR): $2,525 total reported compensation
  • BECKY SICKEL (TREASURER): $825 total reported compensation
  • GREG UNDERWOOD (DIRECTOR): $275 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide venues for barrel racers and pole benders of all ages and skill levels the opportunity to compete for monetary and non-monetarty awards. To foster good sportsmanship and fairness, in a safe, competitive enviroment.

What it reported doing in 2024

Organization of racing venues for contests of all ages to compete in barrel racing and pole racing. Events empahize sportsmanlike conduct and the development of comaraderie and friendship between competitors. Provide safe and secure locations and officiators to ensure fair and safe competition.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 84% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 82
  • Accountability: 69
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.5%; rating input score 96
  • Program expense ratio: 96.5%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.1%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 0.12; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 1.6%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 96.5% of revenue deployed · 96.5% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $221K in reported program spending
  • Leadership: top reported pay $3K · 6 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.