Overview
What is Motorsports Museum & Hall Of Fame Of America Foundation Inc?
The Motorsports Museum & Hall of Fame of America Foundation, situated in Daytona Beach, Florida, is a nonprofit organization dedicated to promoting understanding of motorsports. Their primary activities include maintaining a museum that showcases an array of motorsports-related items for public perusal. Additionally, they have an induction program that recognizes and honors distinguished individuals in the motorsports field by inducting them into the Motorsports Hall of Fame. The foundation's mission is to foster knowledge and appreciation for this thrilling and historical domain.
Official website here: www.mshf.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 51%, One-Star out of Four Star rating.
The Motorsports Museum & Hall Of Fame Of America Foundation Inc has received a low rating of 51%, indicating significant concerns regarding its accountability and financial practices. The rating is derived solely from its Accountability & Finance score, which suggests that improvements are necessary to enhance transparency and governance within the organization.
One of the notable strengths of the organization is its program expense ratio, which stands at approximately 68%. This indicates that a substantial portion of its resources is being utilized for program activities. However, the organization lacks independent board members and has not established essential governance policies, such as conflict of interest and whistleblower policies, leading to concerns about its oversight and ethical standards.
Additionally, the foundation has not made its financial statements readily available, which can hinder potential donors' ability to assess its financial health. While there is a positive aspect in terms of its liabilities to assets ratio, the absence of crucial documentation on its website and the lack of independent oversight are significant limitations that the organization must address to improve its rating and overall public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Motorsports Museum & Hall Of Fame Of America Foundation Inc legitimate?
Motorsports Museum & Hall Of Fame Of America Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Motorsports Museum & Hall Of Fame Of America Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $100,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $217,833
For more financial information, click here
Official website here: www.mshf.com
What is the mission statement of Motorsports Museum & Hall Of Fame Of America Foundation Inc?
The Motorsports Museum & Hall of Fame of America Foundation's mission is centered around promoting understanding of motorsports. They achieve this through diverse programs. The foundation operates a museum, housing a wide array of motorsports-related artifacts for public viewing. Additionally, they identify and honor notable individuals in the field by inducting them into the Motorsports Hall of Fame. The organization's primary aim is to foster knowledge and appreciation for motorsports, contributing to its broader recognition and understanding.
Official website here: www.mshf.com
Who is the CEO of Motorsports Museum & Hall Of Fame Of America Foundation Inc?
George Levy is the President of Motorsports Museum & Hall Of Fame Of America Foundation Inc.
Official website here: www.mshf.com
What is the revenue of Motorsports Museum & Hall Of Fame Of America Foundation Inc?
Motorsports Museum & Hall Of Fame Of America Foundation Inc's revenue in 2022 was $1,538,992.
Official website here: www.mshf.com
Who are the executives of Motorsports Museum & Hall Of Fame Of America Foundation Inc and what are their salaries?
The average compensation at Motorsports Museum & Hall Of Fame Of America Foundation Inc during 2022 was $24,449. There are 13 employees and 6 volunteers at Motorsports Museum & Hall Of Fame Of America Foundation Inc.
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Official website here: www.mshf.com
Where can I find the form 990 for Motorsports Museum & Hall Of Fame Of America Foundation Inc?
Motorsports Museum & Hall Of Fame Of America Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mshf.com
Learn more at the official website: www.mshf.com
Mission Statement of Motorsports Museum & Hall Of Fame Of America Foundation Inc
The Motorsports Museum & Hall Of Fame Of America Foundation, in its mission, strives to promote and disseminate knowledge about motorsports. This is accomplished through a variety of initiatives. The foundation maintains a museum that houses an array of motorsports-related artifacts, making them readily available for public viewing. Additionally, the foundation holds an induction program where notable individuals in the field of motorsports are recognized and inducted into the Motorsports Hall of Fame. By fostering such programs, the Motorsports Museum & Hall Of Fame Of America Foundation aims to increase public understanding and appreciation for the world of motorsports.
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Impact
July, 2024
Motorsports Museum & Hall Of Fame Of America Foundation Inc's impact lies in its dedication to fostering knowledge about motorsports through various programs. The museum provides a platform for public engagement by displaying numerous items related to motorsports for viewing. Additionally, the foundation recognizes and honors individuals in the motorsports industry by inducting them into the Motorsports Hall of Fame. This initiative not only celebrates the accomplishments of notable figures in the field but also serves to preserve and promote the rich history of motorsports. Located in Daytona Beach, FL, the organization plays a significant role in educating and inspiring fans of motorsports, while also contributing to the overall appreciation of this dynamic and exciting industry.
This information is meant to be a general summary of Motorsports Museum & Hall Of Fame Of America Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,690
- Program Service Revenue: $225,853
- Gross Receipts: $1,583,279
Assets and Liabilities:
- Total Assets: $3,275,122
- Total Liabilities: $19,225
- Net Assets: $3,255,897
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MUSEUM REVENUE
Revenue
$181,823
INDUCTION CEREMONY
Revenue
$44,030
Organization Details
Founding Year
1994
Phone
(386) 681-6842Principal Officer
George Levy
Main Address
1801 W INTERNATIONAL SPEEDWAY BLVD, DAYTONA BEACH, FL, 32114
Website
www.mshf.comNTEE Category
Code: A500 - Arts
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