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Nonprofit · EIN 37-2028644

TBC-RACING

Tax-exempt · BETHESDA, MD 20814

Financials

$1.1M$951K2022$1.2M$1.2M2023$1.4M$1.4M2024
Revenue Expenses · by fiscal year end
Financials of TBC-RACING by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$1,426,855$1,405,436$21,419$341,965$151,813$190,152
December 31, 2023990$1,212,086$1,175,759$36,327$353,116$184,383$168,733
December 31, 2022990$1,092,665$950,657$142,008$213,066$71,058$142,008
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$61,060
Program service revenue
$1,365,795
Investment income
$0
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$130,000
Other salaries and wages
$80,280
Salaries, compensation and benefits (total)
$228,836
Professional fundraising fees
$0
Occupancy
$28,423
Travel
$249,993
Program services (functional)
$1,405,436

Balance sheet and other

Total assets, start of year
$353,116
Total assets, end of year
$341,965
Total liabilities, end of year
$151,813
Net assets, end of year
$190,152
Land, buildings and equipment
$342,125
Gross receipts
$1,426,855
Employees
6
Year formed
2022
State of legal domicile
MD

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
CHARLES M RUSSELLCHAIRMAN
Officer
20$92,500
CATHERINE RUSSELLBOARD MEMBER
Trustee or director
5$37,500
ELLIOTT LANEBOARD MEMBER
Trustee or director
2$0
KATE ROBERTSBOARD MEMBER
Trustee or director
2$0
BRYAN TYLANDERBOARD MEMBER
Trustee or director
2$0
990 for the year ended December 31, 2023: 5 people
NameTitleHours / weekCompensation
CHARLES M RUSSELLCHAIRMAN
Officer
20$91,667
CATHERINE RUSSELLBOARD MEMBER
Trustee or director
5$32,083
BRYAN TYLANDERBOARD MEMBER
Trustee or director
2$0
KATE ROBERTSBOARD MEMBER
Trustee or director
2$0
ELLIOTT LANEBOARD MEMBER
Trustee or director
2$0
990 for the year ended December 31, 2022: 5 people
NameTitleHours / weekCompensation
CHARLES M RUSSELLCHAIRMAN
Officer
5$33,333
CATHERINE RUSSELLBOARD MEMBER
Trustee or director
5$11,667
BRYAN TYLANDERBOARD MEMBER
Trustee or director
2$0
KATE ROBERTSBOARD MEMBER
Trustee or director
2$0
ELLIOTT LANEBOARD MEMBER
Trustee or director
2$0

Address and contacts

Address (IRS master file)
6109 RUDYARD DR, BETHESDA, MD 20814-2237
In care of
% CHARLES M RUSSELL
Signed the 990
CHARLES M RUSSELL, CHAIRMAN
Phone
(703) 597-7690
Return prepared by
Flax CPA & Business Solutions

Mission

TBC-RACING IS A VOLUNTEER DIRECTED, NONPROFIT, EDUCATIONAL ORGANIZATION OFFERING ROWING INSTRUCTION TO PEOPLE OF ALL AGES, INCOME AND LEVELS OF PHYSICAL ABILITY. IT SHALL SUPPORT AND PROVIDE ACCESS TO AMATEUR ROWING PROGRAMS IN THE METROPOLITAN WASHINGTON, DC AREA.

990 for the year ended December 31, 2024

Program accomplishments

  • ROWING PROGRAMS TO DELIVER EDUCATIONAL INSTRUCTIONAL PROGRAMS IN THE SPORT OF ROWING TO YOUTH AND YOUNG ADULTS IN THE WASHINGTON, DC METRO AREA.
    Expenses $1,405,436 · revenue $1,365,795

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
37-2028644
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (509(a)(2))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2022
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$341,965
Income (IRS master file)
$1,426,855

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$1,426,855$1,405,436$341,965XML
990December 2023$1,212,086$1,175,759$353,116XML
990December 2022$1,092,665$950,657$213,066XML

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 37-2028644).

Questions about TBC-RACING

What is the EIN of TBC-RACING?
The employer identification number (EIN) of TBC-RACING is 37-2028644.
Is TBC-RACING tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
Are donations to TBC-RACING tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does TBC-RACING file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of TBC-RACING due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did TBC-RACING last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who are the officers and directors of TBC-RACING?
The 990 for the year ended December 31, 2024 lists 5 people; 2 received compensation from the organization, the highest $92,500 (CHARLES M RUSSELL, CHAIRMAN).
How much revenue does TBC-RACING have?
On its 990 for the year ended December 31, 2024 it reported revenue of $1,426,855, expenses of $1,405,436 and total assets of $341,965 at year end.

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