Who owns nhra ??????

Jim Wahl · 01-26-2011, 06:17 PM

Good question. Who was going to get the money from the aborted sale a couple of years ago? I bet it was going to go to the "members". Yeah, that's it, The "members" would get the money because NHRA is providing it's "members" with a servicing.... I mean service. Jim

Paul Neal · 01-26-2011, 06:26 PM

Weren't the proceeds of the sale to go into a "trust fund" to allow future financial support of Sportsman and grass-roots racing?

Jason Oldfield · 01-26-2011, 06:32 PM

A trust fund that Tom Compton was surely going to oversee and draw upon as necessary to pay various "bills".

Julie Jordan · 01-26-2011, 06:43 PM

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.

Chad Rhodes · 01-26-2011, 06:58 PM

Quote:

Originally Posted by Jason Oldfield

A trust fund that Tom Compton was surely going to oversee and draw upon as necessary to pay various "bills".

DUI defense fund?

art leong · 01-26-2011, 07:09 PM

I normally don't wish anyone ill. But this time I pray the IRS does to them what they have been doing to us for years.

Curmudgeon · 01-27-2011, 02:13 AM

Judging by the TV time he gets , must be John Force

blkjack · 01-26-2011, 08:53 PM

Quote:

Originally Posted by Jim Wahl

Good question. Who was going to get the money from the aborted sale a couple of years ago? I bet it was going to go to the "members". Yeah, that's it, The "members" would get the money because NHRA is providing it's "members" with a servicing.... I mean service. Jim

Technically there are no members since no member has any voting rights( according to what I read somewhere else)

Ed Fernandez · 01-26-2011, 09:08 PM

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 · 01-26-2011, 09:29 PM

Quote:

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.

01-26-2011, 06:17 PM	#1
Jim Wahl Veteran Member Join Date: Jan 2002 Location: Central Florida Posts: 5,844 Likes: 667 Liked 683 Times in 129 Posts	Re: Who owns nhra ?????? Good question. Who was going to get the money from the aborted sale a couple of years ago? I bet it was going to go to the "members". Yeah, that's it, The "members" would get the money because NHRA is providing it's "members" with a servicing.... I mean service. Jim __________________ Jim Wahl....NHRA #2239 S/SS - IHRA # 8 Stock, D2 Stock Champion (forever I guess) 2019 Baby Gators Stock Champion 2009 NHRA D2 National Open Stock Champion 1982 NHRA D2 West Palm Beach LDRS SS Runner Up Past President, Southern Stock / Super Stock Association.

01-26-2011, 06:26 PM	#2
Paul Neal Junior Member Join Date: Feb 2002 Location: Everett, Ma Posts: 32 Likes: 27 Liked 3 Times in 1 Post	Re: Who owns nhra ?????? Weren't the proceeds of the sale to go into a "trust fund" to allow future financial support of Sportsman and grass-roots racing? __________________ Paul Neal 119E TD/SC Dan Page 265" w/ Martin 632 6.490 @ 205.76 ...all motor!

01-26-2011, 06:32 PM	#3
Jason Oldfield Senior Member Join Date: Jun 2007 Location: Rochester, NY Posts: 619 Likes: 1 Liked 10 Times in 4 Posts	Re: Who owns nhra ?????? A trust fund that Tom Compton was surely going to oversee and draw upon as necessary to pay various "bills". __________________ Jason Oldfield S/G & S/St 1838

01-26-2011, 06:43 PM	#4
Julie Jordan Senior Member Join Date: Dec 2001 Location: Modesto, CA Posts: 639 Likes: 90 Liked 549 Times in 94 Posts	Re: Who owns nhra ?????? 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. __________________ Julie Jordan 7549 STK

01-26-2011, 07:09 PM	#6
art leong VIP Member Join Date: Dec 2001 Location: Richmond Hill, Georgia Posts: 2,003 Likes: 0 Liked 1 Time in 1 Post	Re: Who owns nhra ?????? I normally don't wish anyone ill. But this time I pray the IRS does to them what they have been doing to us for years. __________________ Art Leong 2095 SS

01-27-2011, 02:13 AM	#7
Curmudgeon Junior Member Join Date: Jan 2011 Location: Asheville,N.C. Posts: 54 Likes: 0 Liked 0 Times in 0 Posts	Re: Who owns nhra ?????? Judging by the TV time he gets , must be John Force

01-26-2011, 09:08 PM	#9
Ed Fernandez Veteran Member Join Date: Nov 2001 Location: NOO JOISEY nexta NOO YAWK Posts: 5,879 Likes: 38 Liked 100 Times in 45 Posts	Re: Who owns nhra ?????? 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). __________________ Former NHRA #1945 Former IHRA #1945 T/SA