Overview
What is Don Garlits Museum Of Drag Racing Inc?
Don Garlits Museum of Drag Racing Inc, situated in Ocala, Florida, is a nonprofit organization that annually welcomes over 50,000 visitors. Their primary mission is to preserve the rich history of drag racing. They accomplish this by amassing historical racing vehicles and related artifacts, meticulously restoring them, and displaying them for educational and entertainment purposes. With a small team of nine dedicated individuals, the museum serves as a testament to the thrilling world of drag racing, providing an engaging and informative experience for visitors.
Official website here: www.garlits.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (69%)
Don Garlits Museum Of Drag Racing Inc has received a two-star rating from Charity Navigator, indicating that it needs improvement in its operational and financial transparency. While the museum boasts a strong program expense ratio of 87.90%, demonstrating a significant allocation of funds towards its programs, it lacks essential financial documentation, which has notably impacted its accountability score.
The organization has a commendable structure with 71% of its board members being independent, which reflects a commitment to maintaining governance integrity. However, the absence of key policies such as conflict of interest and whistleblower policies raises concerns about its operational practices and transparency. Additionally, the lack of posted financial statements on its website limits public access to important information.
Despite these challenges, the museum shows a good liabilities to assets ratio of 0.40%, suggesting financial stability. Nevertheless, improvement in governance policies and enhanced transparency through documented financial statements is necessary for building trust with stakeholders and enhancing its overall rating.
This AI summary has been generated from information found on Charity Navigator.
Is Don Garlits Museum Of Drag Racing Inc legitimate?
Don Garlits Museum Of Drag Racing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Don Garlits Museum Of Drag Racing 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $231,135
For more financial information, click here
Official website here: www.garlits.com
What is the mission statement of Don Garlits Museum Of Drag Racing Inc?
The Don Garlits Museum of Drag Racing Inc is committed to preserving the rich history of drag racing. This is achieved by collecting and restoring historical racing vehicles and related artifacts for exhibition purposes. The primary goal is to educate and engage visitors about the evolution and significance of drag racing through these exhibits. The museum annually attracts over 50,000 individuals, providing them with an opportunity to immerse themselves in the history and culture of this thrilling motorsport.
Official website here: www.garlits.com
Who is the CEO of Don Garlits Museum Of Drag Racing Inc?
Don Garlits is the Chairman/Ceo of Don Garlits Museum Of Drag Racing Inc. The CEO's salary of Don Garlits Museum Of Drag Racing Inc is $0 and their total compensation is $0.
Official website here: www.garlits.com
What is the revenue of Don Garlits Museum Of Drag Racing Inc?
Don Garlits Museum Of Drag Racing Inc's revenue in 2022 was $806,410.
Official website here: www.garlits.com
Who are the executives of Don Garlits Museum Of Drag Racing Inc and what are their salaries?
The average compensation at Don Garlits Museum Of Drag Racing Inc during 2022 was $25,682. There are 9 employees and 2 volunteers at Don Garlits Museum Of Drag Racing Inc.
Here are 7 key members and their salaries (Don Garlits Museum Of Drag Racing Inc's CEO's salary is $0 and their total compensation is $0):
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.garlits.com
Where can I find the form 990 for Don Garlits Museum Of Drag Racing Inc?
Don Garlits Museum Of Drag Racing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.garlits.com
Learn more at the official website: www.garlits.com
Mission Statement of Don Garlits Museum Of Drag Racing Inc
Don Garlits Museum of Drag Racing Inc is dedicated to preserving the rich history of drag racing. This nonprofit organization collects and restores historical racing vehicles and artifacts, with the aim of showcasing them for educational and exhibitional purposes. By gathering and restoring these relics, the museum contributes to the preservation and celebration of the sport's past, offering visitors an opportunity to immerse themselves in the history of drag racing. Annually, the museum attracts over 50,000 individuals, providing them with a unique insight into the evolution of this thrilling motorsport.
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Impact
July, 2024
The Don Garlits Museum of Drag Racing Inc has a significant impact on preserving the history of drag racing. By gathering historical racing vehicles and artifacts, restoring them for exhibition purposes, and showcasing them in a museum that serves over 50,000 visitors annually, the museum plays a crucial role in educating the public about the rich heritage of drag racing. Through its exhibits of race cars and antique autos, the museum contributes to the preservation and celebration of this unique aspect of American culture.
This information is meant to be a general summary of Don Garlits Museum Of Drag Racing 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: $6,363
- Program Service Revenue: $476,872
- Gross Receipts: $948,361
Assets and Liabilities:
- Total Assets: $21,639,234
- Total Liabilities: $88,412
- Net Assets: $21,550,822
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Admission
Revenue
$462,234
Personal Appearance
Revenue
$6,000
Special Event - HOF
Revenue
$8,638
Organization Details
Founding Year
1976
Phone
(352) 245-8661Principal Officer
Don Garlits
Main Address
13700 SW 16th Avenue, Ocala, FL, 34473
Website
www.garlits.comNTEE Category
Code: A500 - Arts
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