The IRS and NHRA, you gotta see this.

[Wade_Owens]

I would like to have a vote on some topics. I think it would benefit alot of racers if the majority could control some things.

Wade O

[Greg Hill]

Originally Posted by Wade_Owens

Here's the link to the complaint...

http://www.capdale.com/files/upload/NHRAcomplaint.pdf

I believe the racers need a voice about what happens in NHRA's organization. I say that because we need good management people along with good board of directors to keep NHRA Drag Racing strong and not die off like so many other drag racing organizations! Also, where is the $120 Mil in expenses going? I hope we get some answers quick!

"Alkey" Alex Owens

Be sure and go to the home page for Caplan and Drysdale the law firm that filed this to check out the press release. www.capdale.com The lawyer that filed this is one of the preeminent non profit lawyers in the US. He was director of the IRS non profit division for 10 years.

[FED 387]

Wells Fargo Motorsports division of Wells Fargo Insurance currently handles the liability portion of NHRA 's insurance---who they lay it off on is anybody's-- guess you would hafta contact WF and I'm sure they are not gonna share that info with you--

[Greg Hill]

Originally Posted by FED 387

Wells Fargo Motorsports division of Wells Fargo Insurance currently handles the liability portion of NHRA 's insurance---who they lay it off on is anybody's-- guess you would hafta contact WF and I'm sure they are not gonna share that info with you--

No insurance is going to protect them from the IRS.

[FED 387]

sorry posted the ins info on the wrong thread---comp

[chris3racing]

The whole press release is posted on Moparts site. "non-profit" right. I would like to have a amount of money shown on there that Graham light received for "1-hour of work". This is not going to end good at all.

[Jim Wahl]

Originally Posted by chris3racing

The whole press release is posted on Moparts site. "non-profit" right. I would like to have a amount of money shown on there that Graham light received for "1-hour of work". This is not going to end good at all.

Yeah, Light gets over $6,000 an hour! I would do his job AND wash the windows for that amount! How do you defend that kind of pay? Jim

[Ed Fernandez]

Originally Posted by chris3racing

The whole press release is posted on Moparts site. "non-profit" right. I would like to have a amount of money shown on there that Graham light received for "1-hour of work". This is not going to end good at all.

Dallas Gardener is the one who worked 1 hr.I'm sure Graham Light,like himor not,puts in a weeks work.
This crew has no one but themselves to blame.I'm sure things will change as far as who will pay fees.The pros will have to share a bit more of the burden.

[Jason Oldfield]

This is very interesting indeed. But, this may be a case of cutting off our noses to spite our faces. Sure, I would LOVE to have a voice in how this organization is run. But, let's assume that the IRS revokes the NHRA not-for-profit status. Then what? NHRA simply becomes a private corporation, we become "customers" rather than "members", and Compton et. al continue to receive their inordinate amounts of pay, and we continue to have no say in how the organization is run. What other company do you have a say in how it is run, simply as a customer? Chrysler? Nope. Cargill? Nope. Mars (M&Ms)? Nope. These are some of the largest private companies in the U.S.

How, you ask, will NHRA be able to continue to afford to pay these ridiculous wages once they have to pay income tax as well? You guessed it, more sportsman racing "enhancements". NHRA will just raise the prices of everything to compensate for their lost revenue. They've done it before and we've never done anything about it. Why would we now?

So, though I want to have a voice, and I want to see these a-holes held accountable, it still may not be in my best interests as a drag racer to see this happen (though it WILL be in my best interests as a tax-paying citizen).

Should be interesting to say the least...

[Toby Lang]

Part of the complaint says that the NHRA compensation arrangements may be excessive.

As an example they use the 2006 compensation of Mr. Thomas Compton. In 2006 Mr. Compton was paid $712,317. They say the average compensation paid to CEOs at the ten largest trade associations was $642,447. So, Mr. Compton was paid 9.8% more than the average.

I don't know if the NHRA operates like a for-profit business or not, but Mr. Compton's salary doesn't seem that excessive to me when compared with the others. If he were making 30-50% more than the average I would say yes, that's excessive, but less than 10%?

Also, could it be possible that the anonymous client has the initials BN?


-Toby