USAC Not For Profit
 

I was on USAC's Fb page looking for info on the DuQuoin SC race and noticed that under description they've listed themselves as a Not For Profit organization. We all found that quite amusing.

Posted via Mobile Device

Re: USAC Not For Profit
 

not surprizing

back in the day when i had a long beard, a stoned out hippy dude came up n looked me in the eye n asked me if i was a profit/ nope but i work fer one, i replied.:5:

Re: USAC Not For Profit
 

NHRA thats having there biggest race at Indy is also a not for profit!

Re: USAC Not For Profit
 

Being a non-profit business is pretty common. Companies like Blue Cross Blue Shield are non-profits! The list is huge. The main criteria is that all salaries must be within those that of their equal in the for profit sector. So if USAC does 10 million a year in gross business income, then their employees can have salaries equal to a for profit business of that size, ie. Top executive probably make around 250 - 400K. The other important thing is, they have to reinvest/distribute all left over funds after subtracting the cost of doing business, to the driver funds, race payouts, advertising (ya I know:16). Basically at the end off the season they can't have any left over $$$ other than the standard operating budget for the next season. They can't have a BAG OF $$$ stashed away :19:

The IRS accuses me of being a "Non-Profit" every year :5:

Re: USAC Not For Profit
 

so is the united state postal service and we all see what kind of shape that they our in.

The nfl is also a non profit organization as well saving them big tax money every year.

Posted via Mobile Device

Re: USAC Not For Profit
 

True and a lot of their financial issues are due to having too many people employed who don't touch or see the mail.

Thanks for reminding me. Been retired 1 year and 2 days from that sinking ship. Am I a rat? You bet.

:22:

USAC has always been a non-profit, far as I know.

Re: USAC Not For Profit
 

As long as I can remember Spencer Racing is a Not For Profit.

Jerry #66j
stida.com

Re: USAC Not For Profit
 

And why is this a problem? Common thing for many groups of this type.

You guys are taking it to seriously. It was a joke. I understand how non-profits work.

Posted via Mobile Device