NHRA Please Read

FED 387 · 04-14-2009, 05:07 PM

The main thing they(NHRA EXECS) have to watch out for is something called "intermediate sanctions" Not really sure what they are or how they work but the IRS pays particularly close attention to them when they do an audit--Has to with exec compensation/ loans/ preferential " treatments to/for officers"etc.
I'm not an accountant maybe Ms. Jordan can shed some light on what they are & how they work... It all has to do with excessive compensation and perks in relationship to the job as well as what executives are being paid in similiar positions in other non- profits, and the annual dollar amount of the organization ---My take on it --Comp 387

SPS · 04-14-2009, 05:34 PM

Excellent post, Sally.

As a member of NHRA for over 35 years, I'm not likely to stop paying my dues(begrudgingly though) as some have already mentioned.

But that's not the point here.

Pat said in two other posts that many racers left (or will not be racing at) his track. Simple economics says, not as many racers, not enough money to pay the bills and keep our favorite tracks open. He (Pat) and others, have invested a lot in trying to make a great facility and support the sportsman racer.

This NHRA decision also affects many other racers (ADRL, NMCA, points bracket racers, and others) that need a license and chassis certification to be able to run their cars wherever they compete. All these tracks also suffer.

Unfortunately, the Divisional staffs and the tracks we have got to know and race at will ultimately suffer. And that will affect us all.

FJ

DK FRAZIER · 04-14-2009, 05:50 PM

Good post Ed, How I would love to sit in on one of those mettings!!!!! you know just to feel the love

04-14-2009, 05:07 PM	#1
FED 387 VIP Member Join Date: Jun 2006 Posts: 3,426 Likes: 550 Liked 335 Times in 182 Posts	Re: NHRA Please Read The main thing they(NHRA EXECS) have to watch out for is something called "intermediate sanctions" Not really sure what they are or how they work but the IRS pays particularly close attention to them when they do an audit--Has to with exec compensation/ loans/ preferential " treatments to/for officers"etc. I'm not an accountant maybe Ms. Jordan can shed some light on what they are & how they work... It all has to do with excessive compensation and perks in relationship to the job as well as what executives are being paid in similiar positions in other non- profits, and the annual dollar amount of the organization ---My take on it --Comp 387

04-14-2009, 05:34 PM	#2
SPS Member Join Date: Jun 2004 Location: Cayuga, Canada Posts: 298 Likes: 38 Liked 3 Times in 2 Posts	Re: NHRA Please Read Excellent post, Sally. As a member of NHRA for over 35 years, I'm not likely to stop paying my dues(begrudgingly though) as some have already mentioned. But that's not the point here. Pat said in two other posts that many racers left (or will not be racing at) his track. Simple economics says, not as many racers, not enough money to pay the bills and keep our favorite tracks open. He (Pat) and others, have invested a lot in trying to make a great facility and support the sportsman racer. This NHRA decision also affects many other racers (ADRL, NMCA, points bracket racers, and others) that need a license and chassis certification to be able to run their cars wherever they compete. All these tracks also suffer. Unfortunately, the Divisional staffs and the tracks we have got to know and race at will ultimately suffer. And that will affect us all. FJ

04-14-2009, 05:50 PM	#3
DK FRAZIER Member Join Date: Jul 2007 Location: Bogart GA Posts: 117 Likes: 2 Liked 0 Times in 0 Posts	Re: NHRA Please Read Good post Ed, How I would love to sit in on one of those mettings!!!!! you know just to feel the love __________________ Doug Frazier D/SA 2038