Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: MEMBERSHIP DUES

  total $2,310,966 · related or exempt $2,310,966

• 2b · Program service revenue: DRIVERCOACH PREPARATIO

  total $402,190 · related or exempt $402,190

• 2c · Program service revenue: STATE PAID STUDENT FEE

  total $4,680 · related or exempt $4,680

• 3 · Investment income

  total $8,985 · excluded $8,985

• 10a · Gross sales of inventory

  $16,675

• 10b · Cost of goods sold

  $2,906

• 10c · Net income from sales of inventory

  total $13,769 · related or exempt $13,769

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $234,000

• 7 · Other salaries and wages

  total $1,165,042

• 8 · Pension plan contributions

  total $76,002

• 9 · Other employee benefits

  total $195,235

• 10 · Payroll taxes

  total $79,630

• 11c · Fees: accounting

  total $12,738

• 11g · Fees: other

  total $246,457

• 12 · Advertising and promotion

  total $2,401

• 13 · Office expenses

  total $24,028

• 14 · Information technology

  total $72,030

• 16 · Occupancy

  total $49,360

• 17 · Travel

  total $11,440

• 20 · Interest

  total $479

• 22 · Depreciation, depletion and amortization

  total $62,728

• 23 · Insurance

  total $98,619

• 24a · Other expenses: EDUCATION & TRAINING

  total $211,496

• 24b · Other expenses: DUES & SUBSCRIPTIONS

  total $46,279

• 24c · Other expenses: POSTAGE, FREIGHT & SHIP

  total $15,694

• 24d · Other expenses: AUTO EXPENSE

  total $9,933

• 24e · All other expenses

  total $12,927

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,989,601 · end of year $1,875,088

• 4 · Accounts receivable

  beginning of year $18,894 · end of year $48,744

• 7 · Other notes and loans receivable

  beginning of year $400,000 · end of year $400,000

• 8 · Inventories for sale or use

  beginning of year $37,038 · end of year $45,342

• 9 · Prepaid expenses and deferred charges

  beginning of year $105,939 · end of year $137,702

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

  $344,653

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

  $116,211

• 10c · Land, buildings and equipment, net

  beginning of year $20,973 · end of year $228,442

• 17 · Accounts payable and accrued expenses

  beginning of year $190,399 · end of year $187,324

• 19 · Deferred revenue

  beginning of year $23,000 · end of year $0

• 25 · Other liabilities

  beginning of year $194,697 · end of year $269,573

• 27 · Net assets without donor restrictions

  beginning of year $2,164,349 · end of year $2,278,421

The filer's explanations (Part III)

PART I, LINE 3

ROHVA DOES NOT DIRECTLY PAY THE CEO/EXECUTIVE DIRECTOR. RATHER THEIR OFFICERS ARE SHARED WITH RELATED ENTITIES. THE RELATED ENTITIES ESTABLISH EXECUTIVE COMPENSATION THROUGH: 1) COMPENSATION COMMITTEE, 2) INDEPENDENT COMPENSATION CONSULTANT, 3) WRITTEN EMPLOYMENT CONTRACT, 4) COMPENSATION SURVEY, AND 5) APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. ROHVA REIMBURSES RELATED ENTITIES FOR EMPLOYEES.

PART I, LINE 4B

MIC HAS ADOPTED A NONQUALIFIED, DEFERRED COMPENSATION SAVINGS PLAN FOR CERTAIN KEY EMPLOYEES. UNDER THIS ARRANGEMENT, SELECTED EMPLOYEES CONTRIBUTE A PORTION OF THEIR ANNUAL COMPENSATION TO THE DEFERRED COMPENSATION SAVINGS PLAN HELD BY MIC IN AN INVESTMENT ACCOUNT FOR THE BENEFIT OF PLAN PARTICIPANTS. THE INVESTMENT ACCOUNTS ARE TYPICALLY HELD IN MUTUAL FUNDS. FUNDS IN THIS PLAN MAY BE DISTRIBUTED TO EACH PLAN BENEFICIARY WHEN THEY RETIRE FROM SERVICE WITH MIC. UNDER THE TERMS OF THE PLAN, PARTICIPANTS' ACCOUNTS REPRESENT UNSECURED CLAIMS AGAINST MIC. THE PARTICIPANTS' INVESTMENT ACCOUNT HAS BEEN PRESENTED AS DEFERRED COMPENSATION INVESTMENTS, WITH A CORRESPONDING LIABILITY FOR BENEFIT PAYMENTS PRESENTED AS DEFERRED COMPENSATION PAYABLES ON THE ACCOMPANYING FINANCIAL STATEMENTS. THERE WERE NO EMPLOYER CONTRIBUTIONS TO THE PLAN IN 2022.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• TRANSTAND INC

  C · SOFTWARE DEVELOPMENT · CA

  Directly controlled by MOTORCYCLE INDUSTRY COUNCIL INC