Who owns nhra ??????

[Ed Fernandez]

We need some sort of an organized group to represent our interests,not only racing related,to keep tabs on the way NHRA is being run.I don't know how well organized the pro side is,but it seems they get hosed as bad as us sometimes.And I'm sure some of the pros have connections to people in high places.These guys in Glendora can give the Mafia and CIA lessons in stealth management.
Maybe it's time to organize a new racers group(I hate calling it a union).

[art leong]

Originally Posted by Ed Fernandez

We need some sort of an organized group to represent our interests,not only racing related,to keep tabs on the way NHRA is being run.I don't know how well organized the pro side is,but it seems they get hosed as bad as us sometimes.And I'm sure some of the pros have connections to people in high places.These guys in Glendora can give the Mafia and CIA lessons in stealth management.
Maybe it's time to organize a new racers group(I hate calling it a union).

Ed I think that's a great idea But we tried it about 12 years ago I think it was the sportsman racers association. And I have a feeling it was like herding cats.

A non profit can get a loan. My homeowners association just borrowed 1.5 million to buy the golf course where I live.

[Stan Perry]

Thanks Julie for telling us this :::::::--------------------------------------------------------------------------------

The Articles of Incorporation or Bylaws will state how the assets are distributed upon a dissolution. The assets would either be distributed to another tax exempt organization or to the members. As NHRA is a California corporation, any dissolution plan would have to be approved by the State Attorney General's office.
__________________
So does anybody know where to find out about the articles of incorporation or bylaws.... If the assets are distributed to another TAX EXEMPT organization .. Who has the say so of where it goes???

[philip a harnden]

I have a question if nhra is non-profit corp. How did they get loans to buy indy, gainesville and etc

[BlueOval Ralph]

As i understand it there is a for profit corp also, this corp owns the tracks and all other real estate. That was the only way they could get the loans to buy the tracks.

Originally Posted by philip a harnden

I have a question if nhra is non-profit corp. How did they get loans to buy indy, gainesville and etc

[Greg Hill]

Right now if the NHRA is dissolved for any reason the assets go the NHRA museum which is a 501-C3. The problem is that the same people control the museum that control NHRA. If the IRS were to cause NHRA to be dissolved I can't imagine them letting all of the assets that were left go to an organization controlled by the same people that caused the demise of the dissolved one.

This was changed in the by laws a few years ago, I think in an effort to keep NHRA in the hands of the current management no matter what happens. This all goes back to 1981 when that illegal vote was taken to steal our membership rights away. So much has happened since then to benefit management to the detriment of the members.

On a side note when the HD partners sale was proposed, in the contract Tom Compton had a provision that would have paid him around $1.5 million per year for running the pro side of the sport and being a paid consultant to the sportsman side. What's interesting is that if there was ever a conflict between the pro's and sportsman he was contractually obligated to take the side of the pros against the sportsman. I think this tells you why that sale was ever proposed.

[Brian Oakes]

I heard there was a Used Car Dealer in Tenn. owns it. LOL

[Alan Roehrich]

Originally Posted by Brian Oakes

I heard there was a Used Car Dealer in Tenn. owns it. LOL

That would explain a lot.