FIRST SETTLERS REGION PORSCHE CLUB OF AMERICA INC

EIN: 541661341 Public Safety

VIRGINIA BEACH, VA

Total Revenue
$217,026
Total Expenses
$246,649
Total Assets
$141,515
Net Assets
$141,515
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Financial Trends

Organization Details

Formation Year
1971
Legal Domicile
VA
Principal Officer
ERIK APOTHEKER
Phone
7576792626
Tax Period
2024-01-01 to 2024-12-31

FIRST SETTLERS REGION PORSCHE CLUB OF AMERICA INC, founded in 1971, is a small nonprofit in the Public Safety sector that reported $215K in total revenue in fiscal year 2021. Revenue surged 485% from the prior year, signaling strong growth momentum. The organization ran a surplus of $70K, a strong 33% operating margin.

Mission

1.PROMOTE SAFE AND COURTEOUS DRIVING: FOSTER THE HIGHEST STANDARDS OF SAFETY AND RESPECT ON THE ROADS. 2.ENJOY AND SHARE FELLOWSHIP: CELEBRATE THE CAMARADERIE AND GOODWILL THAT COMES WITH OWNING A PORSCHE, AND PARTICIPATE IN SOCIAL EVENTS THAT BRING MEMBERS TOGETHER. 3.MAINTAIN HIGH OPERATIONAL STANDARDS: ENSURE THE TOP PERFORMANCE AND QUALITY OF PORSCHE VEHICLES BY SHARING TECHNICAL AND MECHANICAL KNOWLEDGE AMONG MEMBERS. 4.BUILD STRONG RELATIONSHIPS: DEVELOP MUTUALLY BENEFICIAL PARTNERSHIPS WITH PORSCHE, DEALERSHIPS, AND RELATED SERVICES, WHILE PROMOTING THE PORSCHE BRAND'S LEADING POSITION IN THE SPORTS CAR INDUSTRY. 5.ENCOURAGE GLOBAL EXCHANGE OF IDEAS: FACILITATE THE SHARING OF IDEAS AND SUGGESTIONS WITH OTHER PORSCHE CLUBS WORLDWIDE. 6.FOSTER COOPERATION WITH OTHER CLUBS: ESTABLISH COOPERATIVE RELATIONSHIPS WITH OTHER SPORTS CAR CLUBS FOR MUTUAL BENEFIT.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $24,619
Program Service Revenue $192,407
Investment Income $0
Other Revenue $0
TOTAL REVENUE $217,026

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $238,552
Other Expenses $246,649
TOTAL EXPENSES $246,649

Year-over-Year Comparison

2024 2023 Change
Revenue $217,026 $249,360 -0.1%
Expenses $246,649 $208,063 +0.2%
Net Income $-29,623 $41,297 -1.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
5
Independent Members
803
Employees
N/A
Volunteers
80

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERIK APOTHEKER PRESIDENT 5.00
Director
$0 $0 $0
JIM HAMEL VICE PRESIDE 5.00
Director
$0 $0 $0
MICHAEL BALL VICE PRESIDE 5.00
Director
$0 $0 $0
JOHN GREENE SECRETARY 5.00
Director
$0 $0 $0
JOHN SCHWAEBLER TREASURER 5.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $217,026 $246,649 $141,515 $-29,623
2023 $249,360 $208,063 $173,575 $41,297
2021 $214,507 $144,312 $144,596 $70,195
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