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Nonprofiteer
← SPEEDWAY TRAILS ASSOCIATION

Form 990 for tax year 2024

Filed by SPEEDWAY TRAILS ASSOCIATION.

Totals

Total revenue
$1,327,647
Total expenses
$395,874
Contributions and grants received
$1,261,390
Grants paid
$0
Program service revenue
$0
Investment income
$10,542
Other revenue
$55,715
Total assets, end of year
$1,797,609
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,797,609
Program services expenses (Part IX)
$395,581
Management and general expenses
$293
Fundraising expenses
$0
Program service expenses (Part III)
$687,223

Program services were 99.9% 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

    $426

  • 1c · Fundraising events

    $0

  • 1e · Government grants (contributions)

    $935,104

  • 1f · All other contributions, gifts and grants

    $325,860

  • 3 · Investment income

    total $10,542 · related or exempt $10,542

  • 8a · Fundraising events: gross income

    $60,785

  • 8b · Fundraising events: direct expenses

    $5,070

  • 8c · Net income from fundraising events

    total $55,715

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $6,193 · program services $6,193

  • 12 · Advertising and promotion

    total $180 · program services $180

  • 13 · Office expenses

    total $293 · program services $0 · management and general $293

  • 23 · Insurance

    total $3,033 · program services $3,033

  • 24a · Other expenses: Maintenance of Trail / Grass Cutting

    total $35,593 · program services $35,593

  • 24b · Other expenses: Construction of structural steel artwork along trail on behalf of Town of Speedway

    total $350,582 · program services $350,582

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $166,108 · end of year $453,223

  • 2 · Savings and temporary cash investments

    beginning of year $286,613 · end of year $256,780

  • 10c · Land, buildings and equipment, net

    beginning of year $5,819,047 · end of year $1,087,606

  • 27 · Net assets without donor restrictions

    beginning of year $135,208 · end of year $177,605

  • 28 · Net assets with donor restrictions

    beginning of year $6,136,559 · end of year $1,620,004

  • 31 · Retained earnings, endowment or other funds

    end of year $0

Mission and programs · 2024

Mission

To promote & construct walking trails in Indiana.

Activities or mission (Part I)

Construct & promote walking trails in Indiana.

  • Speedway Trails Association undertook the initiative to expand B&O Rail-Trail within Marion County, IN. Building west from Michigan St in the City of Indianapolis towards the Hendricks County line, 2.6-miles of asphalt have been added to the trail, along with a bridge of approximately 100 meters across Eagle Creek. Key partners in the project include Central Indiana Community Foundation, Town of Speedway, Indianapolis Parks Foundation, Allison Transmission, Wilcox Environmental Engineering, & Eskanazi Health. Through 2024, $5,993,542 has been spent on land acquisition, design & Engineering, and construction for this trail extension. Speedway Trails Association has been awarded a grant of $4,893,470 from State of Indiana's Next Level Trails program as primary funding for the project, with matching grants from the key partners listed along with Speedway Trails Association's own fundraising efforts. On September 9, 2024, the completed first phase of the trail (B&O Near West) was donated to City of Indianapolis; construction value $5,405,936. Work continues on construction for the western segment of this trail extension

    Expenses $674,495

  • Speedway Trails Association maintains trails in the general vicinity of Town of Speedway, IN. Association owns land of former Peoria & Eastern Railroad right-of-way which has been rebuilt as approximately 1-mile of asphalt trail. Expenses were incurred to maintain the trail.

    Expenses $12,728

As filed on the 2024 return.

Listed in Part VII

  • Logan Posson

    President

    Total calculated
    $0
    Hours/week
    2

  • Beverly Katterhenry

    Vice President

    Total calculated
    $0
    Hours/week
    10

  • David Santelik

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • MIchelle Lowry

    Scretary

    Total calculated
    $0
    Hours/week
    1

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

This return attached Schedule N but itemized no distributions.

Provenance

Return type
form_990
Tax year
2024
Filed
19 April 2025
IRS schema version
2024v5.0
Source object
202511099349300706

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