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Nonprofiteer
← PIKES PEAK AUTO HILL CLIMB EDUCATIONAL MUSEUM INC

Form 990 for tax year 2022

Filed by PIKES PEAK AUTO HILL CLIMB EDUCATIONAL MUSEUM INC.

Totals

Total revenue
$1,876,764
Total expenses
$2,008,480
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,858,856
Investment income
-$82,974
Other revenue
$100,882
Total assets, end of year
$2,205,902
Total liabilities, end of year
$267,592
Net assets or fund balances, end of year
$1,938,310
Program services expenses (Part IX)
$2,008,480
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$2,008,480

Program services were 100.0% 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.

  • 2a · Program service revenue: Entry Fees

    total $486,855 · related or exempt $486,855

  • 2b · Program service revenue: Sponsor Revenue

    total $927,485 · related or exempt $927,485

  • 2c · Program service revenue: Media Production

    total $61,250 · related or exempt $61,250

  • 2d · Program service revenue: Ticket Sales

    total $380,311 · related or exempt $380,311

  • 2f · All other program service revenue

    total $2,955 · related or exempt $2,955

  • 3 · Investment income

    total -$82,974 · related or exempt -$82,974

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Vendor Commissions

    total $37,721 · related or exempt $37,721

  • 11b · Other revenue: Fan Fest Revenue

    total $41,588 · related or exempt $41,588

  • 11c · Other revenue: Miscellaneous Revenue

    total $21,573 · related or exempt $21,573

  • 11e · Other revenue, total

    $100,882

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $423,104 · program services $423,104

  • 11c · Fees: accounting

    total $9,434 · program services $9,434

  • 12 · Advertising and promotion

    total $292,751 · program services $292,751

  • 13 · Office expenses

    total $83,913 · program services $83,913

  • 16 · Occupancy

    total $9,171 · program services $9,171

  • 17 · Travel

    total $3,698 · program services $3,698

  • 22 · Depreciation, depletion and amortization

    total $5,971 · program services $5,971

  • 23 · Insurance

    total $122,761 · program services $122,761

  • 24a · Other expenses: Media Expense

    total $293,148 · program services $293,148

  • 24b · Other expenses: Race Expense

    total $712,568 · program services $712,568

  • 24c · Other expenses: Bank Fees

    total $18,443 · program services $18,443

  • 24d · Other expenses: Fan Fest

    total $33,518 · program services $33,518

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $903,415 · end of year $100,542

  • 2 · Savings and temporary cash investments

    beginning of year $1,092,292 · end of year $1,809,318

  • 4 · Accounts receivable

    beginning of year $2,750 · end of year $30,800

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,500 · end of year $3,967

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

    $95,834

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

    $26,510

  • 10c · Land, buildings and equipment, net

    beginning of year $75,295 · end of year $69,324

  • 15 · Other assets

    beginning of year $191,951 · end of year $191,951

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,679 · end of year $15,270

  • 19 · Deferred revenue

    beginning of year $176,750 · end of year $236,591

  • 25 · Other liabilities

    beginning of year $15,731 · end of year $15,731

  • 27 · Net assets without donor restrictions

    beginning of year $2,062,421 · end of year $1,930,705

  • 28 · Net assets with donor restrictions

    beginning of year $6,622 · end of year $7,605

Mission and programs · 2022

Mission

The PPIHC Education Museum provides public education through its museum about the history of auto racing on Pikes Peak, conducts the annual PPIHC race and reports on technology development in racing.

Activities or mission (Part I)

Educational Museum providing public education

  • The Museum Race Division conducts the annual Pikes Peak International Hill Climb automobile race which supports the Museum along with the Museum education programs and community outreach.

    Expenses $1,421,228 · Revenue $1,861,505

  • The PPIHC Administration provides support for the permanent museum, the traveling museum, the operational administration of the PPIHC Organization, the annual PPIHC race, as well as the promotion of all public education and community outreach. The Museum provides financial and operational support to the City of Colorado Springs through the Pikes Peak Highway Authority along with the operational support to the City of Colorado Springs for the conduct of the annual PPIHC Fan Fest Community event .

    Expenses $553,734 · Revenue -$26,329

  • The PPIHC Museum in concert with the City of Colorado Springs conducts the annual Fan Fest event. Open to the Community and all visitors, the Fan Fest event highlights the history of racing on Pikes Peak displaying significant historical race cars & memorabilia. Fan Fest promotes the City of Colorado Springs, it's agencies and organizations supporting the City, as well as the annual PPIHC Race. This annual event provides a public forum showcasing the Hill Climb Race; provides tours through the mobile museum with access to drivers, race officials and to the agencies of the City of Colorado Springs.

    Expenses $33,518 · Revenue $41,588

As filed on the 2022 return.

Listed in Part VII

  • Michael J Bukowski

    Vice Chairman

    Total calculated
    $0
    Hours/week
    2

  • Bob Gillis

    Past Board Chairman

    Total calculated
    $0
    Hours/week
    2

  • Peter Freytag

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Laura Muir

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Theo Gregory

    Board Trustee

    Total calculated
    $0
    Hours/week
    1

  • Lou Mellini

    Board Trustee

    Total calculated
    $0
    Hours/week
    1

  • Steve Smith

    Board Trustee

    Total calculated
    $0
    Hours/week
    1

  • Frederick Veitch

    Chairman Board Trustee

    Total calculated
    $0
    Hours/week
    5

  • Chuck Delich

    Board Trustee

    Total calculated
    $0
    Hours/week
    1

  • Marla Wiseman

    Board Trustee

    Total calculated
    $0
    Hours/week
    1

  • Steve Matthiesen

    Board Trustee

    Total calculated
    $0
    Hours/week
    1

  • Luke R Smith

    Board Trustee

    Total calculated
    $0
    Hours/week
    1

  • Megan Leatham

    Board Trustee

    Total calculated
    $0
    Hours/week
    3

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
2022
Filed
26 October 2023
IRS schema version
2022v5.0
Source object
202342999349301754

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