NHRA grew in 2007 - the NHRA Tax Return (2 Viewers)

[Raconteur]

As a yearly service, Drag Racing Online presents the most recent NHRA Tax Return...

NHRA grew in 2007 with Tom Compton as President









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[kd]

...Alan...?

that 5.5 mil would pat ALOT of round money...

...could someone explain "non-profit" org.,...showing a profit...?

 

[clwill]

...could someone explain "non-profit" org.,...showing a profit...?

Non-profit doesn't mean "loses money", or "breaks even". It means "doesn't pay out profits to shareholders". Could reinvest the profits, could save the profits, whatever.

 

[NHRADeuce]

that 5.5 mil would pat ALOT of round money...

Actually, no it wouldn't. If you do the math, spread across 24 races, it would only be an increase of $7161 and some change for TF and FC qualifiers. Not a dime to PS or PSB or anything past first round. Once you spread that our among 24 PS races times 16 qualifiers per race and 16 PSB races time 16 qualifiers per race, it's barely enough to pay for one run down the track.

I am sure the racers would appreciate it, but NHRA is surely not going to post a profit next year and will likely need to have cash reserves to get through the year. Not only that, but they surely won't be able to afford the increase in payouts for season to come with the economy in the shape that it's in. 2009 will be bad, but so will 2010 and possibly beyond.