Reno Air Racing Association Inc

Nonprofit profile at a glance

EIN
880093380
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Reno, NV, USA
Phone
7759726663
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Amateur Sports Competitions

Reported finances

Revenue
$2,678,394
Expenses
$3,157,834
Assets
$4,270,029
Liabilities
$988,535

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

Leadership & pay

13 people listed

Executive titles in this filing

  • Tony Logoteta (President/Chief Operating Officer)
  • Frederick Telling (Chairman/CEO)

Highest reported compensation

  • Tony Logoteta (President/Chief Operating Officer): $111,394 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 produce a first-class air racing and air show event that celebrates and perpetuates the world's fastest motorsport. (Continued on Schedule O)Fueled by decades of success, we're committed to delivering a safe, entertaining and exhilarating experience for fans while also honoring our military, inspiring our youth and strengthening our community, economy and culture.

What it reported doing in 2024

The 2024 Reno Air Show hosted an audience of more than 40,000 attendees from around the country and world. Through partnerships with the Nevada Business Aviation Association (NVBAA) and Global Robot and Drone Deployment (GRADD), Reno Air Racing Association hosted over 6,000 students, free of charge, from multiple school districts at the 2024 Reno Air Show to learn about aviation first-hand in our STEM Education Discovery Zone. In addition, we provided discounted admission to military personnel and free admission to veterans groups.(Continued on Sch O) Each year the Reno Air Racing Association provides over $75,000 worth of free admission to local charities and schools through various donations, in addition to providing fundraising opportunities for numerous local profit service organizations. The Reno Air Racing Association also continued its flight scholarship program, rewarding another 16 young adults with a scholarship in 2024 to achieve their private pilot license.

Operating model

Revenue model
Other-operating. 69% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 96% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 94
  • Accountability: 84
  • Sustainability: 30
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.6%; rating input score 90
  • Program expense ratio: 75.1%; rating input score 75
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.1%; rating input score 99; 37th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 21st percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -17.9%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 1.35; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 3.5%; rating input score 65; 65th percentile among comparable filings

Growth

  • Program expense growth: -0.7% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 29.9% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 89.6% of revenue deployed · 75.1% of spending went to programs
  • Governance: 10 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4M in reported program spending
  • Leadership: top reported pay $111K · 13 people listed
  • Highest-paid contractors: 5 contractors listed · $663K reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 8/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.