Va Competition Hare Scramble Svc Inc

Nonprofit profile at a glance

EIN
208385796
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Keswick, VA, USA
Phone
3216849204
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Recreational l Clubs

Official website

Reported finances

Revenue
$375,309
Expenses
$422,581
Assets
$50,392
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • CHUCK HONEYCUTT (PRESIDENT)
  • RYAN LLOYD (VICE PRESIDENT)

Highest reported compensation

  • CHUCK HONEYCUTT (PRESIDENT): $11,546 total reported compensation
  • RYAN LLOYD (VICE PRESIDENT): $8,533 total reported compensation
  • JESSICA BAKKEN (SECRETARY): $2,360 total reported compensation

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

Overview

Mission

The primary exempt purpose is to attend to all duties associated with organizing and running a motorcyle racing club

What it reported doing in 2024

Attending to duties associated with holding races throughout the year. Revenue includes compcard sales for racing participation and sales of merchandise. Expenses include supplies, awards, contract labor, advertising and insurance associated with holding the races.

Operating model

Revenue model
Other-operating. 91% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 100
  • Accountability: 53
  • Sustainability: 25
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.4%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 75%; rating input score 75; 20th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -12.6%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 0.12; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 5.3%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: 43.4% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 10.5% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 9.6% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.4% of spending went to programs
  • Governance: 9 of 12 board members independent · 2 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $412K in reported program spending
  • Leadership: top reported pay $12K · 4 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 2 filing years from 2023 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: 6 of 8 not reported.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.