Circuit Events Local Organizing Committee

Nonprofit profile at a glance

EIN
452727397
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Austin, TX, USA
Phone
5126556280
Rating confidence
Limited
Sector
Business and Industry

Reported finances

Revenue
$54,145,048
Expenses
$54,145,048
Assets
$1,597,765
Liabilities
$1,596,694

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

Leadership & pay

5 people listed

People named in this filing

  • ANNA PANOSSIAN (SECRETARY)
  • JULIA TAYLOR (CHAIRPERSON)
  • DREW SCHEBERLE (MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The purposes of circuit events local organizing committee are to (1) assist with organization, administation, management, promotion, facilitation, and operation related to hosting the formula one united states grand prix and other events, competitions, and activities as may be hosted by the corporation in the discretion of the board of directors and (2) promote the public interest of the city of austin, travis county, and the state of Texas.

What it reported doing in 2024

The organization's program service accomplishments include: assisting with the application, organization, administration, management, qualification, promotion, facilitation, and operation related to hosting the formula 1 united states grand prix, and other events, competitions, and activities, and processing reimbursement and obtaining reimbursements from the state of Texas under the state's events trust fund (Texas government code chapter 480).

Operating model

Revenue model
Grant-funded. 100% of the money available for current operations came from government grants.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 26
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 98; 98th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 15.1% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.