Overview
What is Raceway Gives Foundation?
The Raceway Gives Foundation, based in Madison, Illinois, was established by World Wide Technology Raceway (WWTR) with the aim of fostering talent among diverse and underserved youth. Their mission involves developing scholarship programs, specifically for the Gateway i-Drive and Ignite Racing Series, to support deserving individuals aged 8 to 18, including those from gifted, diverse, and underserved backgrounds, as well as area military families. The foundation leverages the resources and technology opportunities associated with motorsports to provide educational and career opportunities for its beneficiaries. Additionally, it aims to serve as a community asset, technology showcase, and unique motor sports crown jewel, offering faithful and exemplary service to all constituents, while positioning GMP/WWTR as auto racing's premier facility and sponsor for STEM learning in the Greater St. Louis region. Furthermore, the foundation utilizes GMP/WWTR facilities as educational platforms and leverages local sponsorship to develop and support culturally, racially, and diverse local motor racing talent that might otherwise go unnoticed due to financial or awareness constraints.
Official website here: www.racewaygives.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star rating
The Raceway Gives Foundation has earned a Three-Star rating from Charity Navigator, indicating a reasonably strong performance in terms of accountability and finance. The rating is based entirely on a single beacon score, which reflects the organization's financial health and governance practices during the most recent fiscal year, FY2022. A score of 77 in this category suggests that while there are positive aspects, there may also be areas for improvement.
One of the foundation's notable strengths is its governance structure, with 100% of its board members being independent. This independence contributes to transparency and reduces potential conflicts of interest. The organization has also demonstrated solid financial health, with a low liabilities-to-assets ratio of 5.39% and a high program expense ratio of 94.86%, indicating that a significant portion of its funds is directed towards its mission-related activities.
However, there are limitations to consider as well. Notably, the foundation does not have a whistleblower policy in place, which can be an important component of organizational accountability. Overall, while the Raceway Gives Foundation shows commendable financial management and governance practices, addressing the absence of a whistleblower policy could further enhance its credibility and trustworthiness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Raceway Gives Foundation legitimate?
Raceway Gives Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Raceway Gives Foundation 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: $0
For more financial information, click here
Official website here: www.racewaygives.org/
What is the mission statement of Raceway Gives Foundation?
The Raceway Gives Foundation, established by World Wide Technology Raceway (WWTR), aims to utilize the resources and technological opportunities associated with motorsports to enhance education and career opportunities for youth aged 8 to 18, particularly focusing on the gifted, diverse, and underserved population, as well as military families. The foundation serves as a community asset, showcasing technology and acting as a unique motorsports crown jewel. It seeks to position GMP/WWTR as the premier facility and sponsor for STEM learning in the Greater St. Louis region. Additionally, the foundation leverages the visibility and reach of GMP/WWTR, local sponsorship, and STEM programs to develop and support culturally, racially, and diversely talented local motor racing talent that may have been overlooked due to financial or awareness constraints. The foundation maximizes the utilization of GMP/WWTR facilities as educational platforms.
Official website here: www.racewaygives.org/
Who is the CEO of Raceway Gives Foundation?
Curtis Francois is the President of Raceway Gives Foundation.
Official website here: www.racewaygives.org/
What is the revenue of Raceway Gives Foundation?
Raceway Gives Foundation's revenue in 2022 was $874,677.
Official website here: www.racewaygives.org/
Who are the executives of Raceway Gives Foundation and what are their salaries?
There 4 volunteers at Raceway Gives Foundation.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.racewaygives.org/
Where can I find the form 990 for Raceway Gives Foundation?
Raceway Gives Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.racewaygives.org/
Learn more at the official website: www.racewaygives.org/
Mission Statement of Raceway Gives Foundation
The Raceway Gives Foundation, established by World Wide Technology Raceway (WWTR), aims to leverage the resources and technological opportunities associated with motorsports to provide educational and career opportunities for youth aged 8 to 18. With a focus on the gifted, diverse, and underserved, as well as area military families, the foundation serves as a community asset and technology showcase. Its mission is to position GMP/WWTR as the premier auto racing facility and sponsor for STEM learning in the greater St. Louis region.
The Raceway Gives Foundation also seeks to maximize the utilization of GMP/WWTR facilities as educational platforms. By leveraging the visibility and reach of its STEM programs, local sponsorship, and the foundation's own initiatives, it aims to develop and support culturally, racially, and diverse local motorsports talent that may otherwise be overlooked due to financial or awareness constraints. The foundation's efforts are geared towards enhancing education and career opportunities for young individuals, allowing them to excel in their chosen fields.
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Impact
July, 2024
Raceway Gives Foundation's impact is centered on leveraging the resources and technology opportunities associated with motorsports to enhance education and career opportunities for youth aged 8 - 18. Through programs focused on the gifted, diverse, underserved, and military families, the foundation aims to foster talent among underrepresented groups. Scholarship programs supporting participation in racing series provide deserving individuals with the chance to develop their skills and pursue their passion for motorsports. By serving as a community asset and technology showcase, Raceway Gives Foundation plays a vital role in promoting STEM learning in the Greater St. Louis region and supporting local talent that may otherwise go unnoticed due to financial or awareness constraints.
This information is meant to be a general summary of Raceway Gives Foundation. 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.
- Gross Receipts: $912,700
Assets and Liabilities:
- Total Assets: $818,176
- Total Liabilities: $44,173
- Net Assets: $774,003
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Organization Details
Founding Year
2019
Phone
(618) 215-8888Principal Officer
Curtis Francois
Main Address
700 RACEWAY BLVD, MADISON, IL, 62060
Website
www.racewaygives.org/NTEE Category
Code: O50 - Youth development
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