DON GARLITS MUSEUM OF DRAG RACING (EIN 591763307) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1976

Legal Domicile

Principal Officer

DON GARLITS

Phone

3522458661

Tax Period

2024-10-01 to 2025-09-30

DON GARLITS MUSEUM OF DRAG RACING, founded in 1976, is a small nonprofit in the Arts, Culture & Humanities sector that reported $877K in total revenue in fiscal year 2024. Expenses of $759K left a modest 13% surplus.

Mission

PRESERVING THE HISTORY OF DRAG RACING. THE GATHERING OF HISTORICAL RACING VEHICLES AND ARTIFACTS. THE RESTORING ATHE SAME FOR EXHIBITIONAL PURPOSES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $15,675

Program Service Revenue $571,723

Investment Income $6,322

Other Revenue $283,654

TOTAL REVENUE $877,374

Expense Breakdown

Grants Paid $0

Salaries & Benefits $349,162

Fundraising Expenses $15,745

Program Expenses $648,860

Other Expenses $410,112

TOTAL EXPENSES $759,274

Year-over-Year Comparison

	2024	2023	Change
Revenue	$877,374	$888,127	0.0%
Expenses	$759,274	$727,629	+0.0%
Net Income	$118,100	$160,498	-0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GEORGE ALBRIGHT	DIRECTOR	N/A	Director	$0	$0	$0
GAY LYN CAPITANO	TREASURER/SE	N/A	Officer Director	$0	$0	$0
STEVE ELLIS	DIRECTOR	N/A	Director	$0	$0	$0
DON GARLITS	CHAIRMAN/CEO	N/A	Officer Director	$0	$0	$0
DONNA GARLITS	VICE CHAIRMA	N/A	Officer Director	$0	$0	$0
CHRIS KARAMESINES	DIRECTOR	N/A	Director	$0	$0	$0
CARL SCHIEFER	DIRECTOR	N/A	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
2025	$877,374	$759,274	$22,045,570	$118,100
2024	$888,127	$727,629	$21,952,477	$160,498
2023	$852,883	$682,574	$21,795,013	$170,309
2022	$806,410	$670,816	$21,639,234	$135,594
2021	$910,723	$513,835	$21,512,031	$396,888
2020	$750,252	$545,998	$21,144,361	$204,254
2019	$717,258	$660,135	$10,480,400	$57,123
2018	$804,709	$639,867	$10,425,129	$164,842

DON GARLITS MUSEUM OF DRAG RACING