Skip to content
Nonprofiteer
← WATKINS GLEN MOTOR RACING RESEARCH COUNCIL INC

Form 990 for tax year 2024

Filed by WATKINS GLEN MOTOR RACING RESEARCH COUNCIL INC.

Totals

Total revenue
$1,169,325
Total expenses
$959,855
Contributions and grants received
$844,547
Grants paid
$0
Program service revenue
$16,515
Investment income
$348,670
Other revenue
-$40,407
Total assets, end of year
$5,379,931
Total liabilities, end of year
$147,075
Net assets or fund balances, end of year
$5,232,856
Program services expenses (Part IX)
$235,885
Management and general expenses
$257,782
Fundraising expenses
$466,188
Program service expenses (Part III)
$235,885

Program services were 24.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $81,316

  • 1c · Fundraising events

    $153,037

  • 1f · All other contributions, gifts and grants

    $610,194

  • 2a · Program service revenue: OTHER

    total $16,515 · related or exempt $16,515

  • 3 · Investment income

    total $158,363 · excluded $158,363

  • 7a · Gross sales of assets other than inventory

    securities $1,721,909

  • 7b · Less cost or other basis and sales expenses

    securities $1,531,602

  • 7c · Gain or loss

    securities $190,307

  • 7d · Net gain or loss

    total $190,307 · excluded $190,307

  • 8a · Fundraising events: gross income

    $31,288

  • 8a · Fundraising events: contributions included on line 1c

    $153,037

  • 8b · Fundraising events: direct expenses

    $71,695

  • 8c · Net income from fundraising events

    total -$40,407 · excluded -$40,407

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $95,481 · management and general $38,192 · fundraising $57,289

  • 7 · Other salaries and wages

    total $190,449 · program services $152,060 · management and general $30,354 · fundraising $8,035

  • 9 · Other employee benefits

    total $15,218 · program services $6,437 · management and general $8,359 · fundraising $422

  • 10 · Payroll taxes

    total $24,627 · program services $13,097 · management and general $5,904 · fundraising $5,626

  • 11c · Fees: accounting

    total $23,193 · management and general $23,193

  • 11f · Fees: investment management

    total $40,648 · management and general $40,648

  • 11g · Fees: other

    total $33,430 · management and general $33,430

  • 12 · Advertising and promotion

    total $19,287 · management and general $19,287

  • 13 · Office expenses

    total $22,709 · program services $135 · management and general $22,574

  • 14 · Information technology

    total $19,711 · program services $2,025 · management and general $9,026 · fundraising $8,660

  • 16 · Occupancy

    total $55,089 · program services $49,824 · management and general $5,265

  • 17 · Travel

    total $2,094 · management and general $2,094

  • 24a · Other expenses: SWEEPSTAKES SOLICITATIO

    total $257,472 · fundraising $257,472

  • 24b · Other expenses: SWEEPSTAKES PRIZE

    total $121,768 · fundraising $121,768

  • 24c · Other expenses: PROCESSING FEES

    total $19,205 · management and general $19,205

  • 24d · Other expenses: SPECIAL EVENTS

    total $7,952 · program services $785 · management and general $251 · fundraising $6,916

  • 24e · All other expenses

    total $11,522 · program services $11,522

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $33,545 · end of year $16,437

  • 2 · Savings and temporary cash investments

    beginning of year $889 · end of year $829

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,344 · end of year $11,553

  • 10a · Land, buildings and equipment: cost or other basis

    $142,778

  • 10b · Land, buildings and equipment: accumulated depreciation

    $97,778

  • 10c · Land, buildings and equipment, net

    beginning of year $45,000 · end of year $45,000

  • 11 · Investments: publicly traded securities

    beginning of year $4,448,844 · end of year $4,739,253

  • 15 · Other assets

    beginning of year $526,960 · end of year $566,859

  • 17 · Accounts payable and accrued expenses

    beginning of year $58,432 · end of year $67,718

  • 19 · Deferred revenue

    end of year $2,525

  • 25 · Other liabilities

    beginning of year $36,083 · end of year $76,832

  • 27 · Net assets without donor restrictions

    beginning of year $3,441,103 · end of year $3,699,696

  • 28 · Net assets with donor restrictions

    beginning of year $1,528,964 · end of year $1,533,160

Mission and programs · 2024

Mission

THE INTERNATIONAL MOTOR RACING RESEARCH CENTER COLLECTS, SHARES AND PRESERVES THE HISTORY OF MOTORSPORTS. SPANNING CONTINENTS, ERAS AND RACE SERIES, THE CENTER'S COLLECTION EMBODIES THE SPEED, DRAMA AND CAMARADERIE OF AMATEUR AND PROFESSIONAL MOTOR RACING THROUGHOUT THE WORLD. THE CENTER WELCOMES SERIOUS RESEARCHERS AND THE CASUAL FANS ALIKE TO SHARE STORIES OF RACE DRIVERS, RACE SERIES, AND RACE CARS CAPTURED ON OUR SHELVES AND WALLS, AND BROUGHT TO LIFE THROUGH A REGULAR CALENDAR OF PUBLIC LECTURES AND SPECIAL EVENTS. THE CENTER'S COLLECTION DOCUMENTS THE HISTORY OF RACING IN THE MORE THAN 4000 BOOKS OR 250 DIFFERENT MOTORSPORTS MAGAZINES AND NEWSPAPERS TITLES; CLUB AND SANCTIONING BODY RECORDS; RACE RESULTS, PROGRAMS AND POSTERS; PAPERS OF MOTORSPORTS JOURNALISTS AND SCHOLARS; CORRESPONDENCE OF RACE ORGANIZERS; AND STILL AND MOVING IMAGES HOUSED ONSITE AND IN OUR EXPANDING OFFSITE COLLECTIONS STORAGE FACILITIES. ITS KNOWLEDGEABLE RESEARCH AND ARCHIVES STAFF ASSISTS HUNDRE

  • A VALUABLE COLLECTION OF RESEARCH AND ARCHIVAL MATERIALS DOCUMENTING THE HISTORY OF MOTORSPORTS ARE ACQUIRED THROUGH DONATION AND MAINTAINED AS A RESOURCE FOR THE RACING COMMUNITY AND THE GENERAL PUBLIC. THE CENTER SERVES AS THE CUSTODIAN OF THE ARCHIVES OF THE SPORTS CAR CLUB OF AMERICA, THE LARGEST CLUB FOR AUTOMOBILE RACING IN THE UNITED STATES. IT SHARES ITS HISTORICAL COLLECTIONS THROUGH AN ACTIVE RESEARCH AND REFERENCE SERVICES PROGRAM, PUBLIC EVENTS, AND EXHIBITIONS AS WELL AS ONLINE UTILIZING ITS WEBSITE, SOCIAL MEDIA PLATFORMS, AND ELECTRONIC PUBLICATIONS.

    Expenses $235,885 · Revenue $16,515

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • John R Saunders

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Larry Kessler

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Bill Branson

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Scott Welliver

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Beren Argetsinger

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Dawn Burlew

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Nicholas Craw

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Chris Dyson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Evan Fay Earle

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • John Cgorsline

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Phil Henderson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Kanaley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Rob Roessel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Dinah Gueldenpfennig Weisberg

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Chip Wile

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Daryl Q Wolfe

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Phyllisa Desarno

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Mark Steigerwald

    EXECUTIVE DIRECTOR

    Total calculated
    $95,481
    From this org
    $95,481
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
18 August 2025
IRS schema version
2024v5.2
Source object
202502309349300515

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.