2026-07-15T16:55:43+00:00 2025-12-31 440160260 Forvis Mazars LLP 820 Massachusetts Ave Suite 1370 Indianapolis IN 46204 990 2025-01-01 356013771 Indianapolis Motor Speedway Foundation Inc INDI 4632442680 4750 West 16th Street Indianapolis IN 46222 Constance Lund Treasurer 2026-07-15 true Nicole Fishback P01279475 3173834000 2026-11-16 2025 2025-03-06 01:10:19Z CONSTANCE LUND 4750 WEST 16TH STREET INDIANAPOLIS IN 46222 164830730 false X WWW.IMSMUSEUM.ORG X 1957 IN TO CELEBRATE THE INNOVATION, THRILL, AND CULTURAL SIGNIFICANCE OF RACING AT THE INDIANAPOLIS MOTOR SPEEDWAY AND PRESERVE THE HISTORY BEHIND THE INDPLS MOTOR SPEEDWAY AND INDPLS 500. 16 14 130 155 0 0 5398510 11603714 923471 5236070 1975944 5125945 152099 60897 8450024 22026626 0 0 3042721 4013625 0 517709 2270480 7880079 5313201 11893704 3136823 10132922 80317277 180203397 13169431 1030908 67147846 179172489 X The Indianapolis Motor Speedway Museum brings to life the innovation, thrill, and cultural significance of motor racing at the Indianapolis Motor Speedway. true false 8204892 5225076 THE INDIANAPOLIS MOTOR SPEEDWAY FOUNDATION, INC. MANAGES A MUSEUM, ITS COLLECTION AND PUBLIC PROGRAMS. THE MUSEUM'S COLLECTION CONSISTS OF HISTORICALLY AND CULTURALLY SIGNIFICANT ITEMS THAT INCLUDE VEHICLES, RACE CARS, RACING ARTIFACTS, ARTWORK, AND PUBLICATIONS. THE MUSEUM OFFERS A COMBINATION OF ROTATING AND PERMANENT EXHIBITS THAT FOCUS ON THE HISTORY AND IMPACT OF THE INDIANAPOLIS MOTOR SPEEDWAY, INDYCAR RACING, AND MOTORSPORTS. IN ADDITION, THE MUSEUM OFFERS UNIQUE TOURS OF THE SPEEDWAY TRACK AND FACILITIES. EDUCATIONAL AND INFORMATION PROGRAMMING FOR THE PUBLIC RANGING FROM STUDENTS ON A FIELD TRIP TO LIFELONG LEARNING OPPORTUNITIES, IS AT THE HEART OF THE WORK OF THE MUSEUM. 46838 RESTORATION TO PRESERVE EDUCATE AND CELEBRATE RACING HISTORY THROUGH ITEMS THAT ARE ON DISPLAY OR PARTICIPATE IN RACING CEREMONIES. THE DISTINGUISHED SPEAKER SERIES, FUEL UP FRIDAYS AND LUNCH & LEARN INFORM, EDUCATE AND ENTERTAIN RACING ENTHUSIASTS THROUGH STORY-TELLING BY AND DISCUSSIONS WITH ICONIC RACING PERSONALITIES AND BEHIND THE SCENES PERSPECTIVES. 8204892 true true false false false false false true false true true false false false true false true false false false false false false false true false false false false true false false false false false false false true false false true true false false false false false false false false true 47 0 true 130 true false false false false false true true false false false false false false false false X 16 14 false false false false false false false true true false false false true true true true true true true true false false AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY X X PHIL FOSTER 3174925701 4750 WEST 16TH STREET INDIANAPOLIS IN 46222 CHUCK JONES BOARD CHAIR & DIRECTOR 0.5 0.0 X X 0 0 0 CONSTANCE LUND TREASURER & DIRECTOR 2.0 0.0 X X 0 0 0 JEFFREY B SMITH SECRETARY AND DIRECTOR 0.5 0.0 X X 0 0 0 KIRK HENDRIX DIRECTOR AND INTERIM PRESIDENT (JUL - DEC 2025) 0.5 0.0 X X 20000 0 0 ANGELA KRAHULIK DIRECTOR 0.5 0.0 X 0 0 0 BILL MANNS DIRECTOR 0.5 0.0 X 0 0 0 BLAIR HALL DIRECTOR 0.5 0.0 X 0 0 0 BUD MOELLER DIRECTOR 0.5 0.0 X 0 0 0 CHRIS MACALLISTER DIRECTOR 0.5 0.0 X 0 0 0 DOUGLAS BOLES DIRECTOR 0.5 0.0 X 0 0 0 DUNCAN DAYTON DIRECTOR 0.5 0.0 X 0 0 0 FRED J NATION DIRECTOR 0.5 0.0 X 0 0 0 LARRY FOYT DIRECTOR 0.5 0.0 X 0 0 0 MELISSA CAITO DIRECTOR 1.0 0.0 X 0 0 0 ROBERT DYSON DIRECTOR 0.5 0.0 X 0 0 0 ROBERT RAHAL DIRECTOR 0.5 0.0 X 0 0 0 SCOTT BORCHETTA DIRECTOR 0.5 0.0 X 0 0 0 John Joseph Hale President (ENDED JUNE 2025) 40.0 0.0 X 288780 0 13239 PHIL FOSTER DIRECTOR OF FINANCE 40.0 0.0 X 139888 0 22901 DANIEL C ROSENAU RESTORATION SERVICES MANAGER 40.0 0.0 X 108855 0 12273 JASON VANSICKLE VP OF CURATION AND EDUCATION 40.0 0.0 X 142000 0 13998 KARA KOVERT PRAY VP OF ADVANCEMENT 40.0 0.0 X 136287 0 14210 MANDI BENDER VP OF OPERATIONS 40.0 0.0 X 133971 0 13580 969781 0 90201 6 false true false SHIEL SEXTON COMPANY INC 902 N CAPITAL AVENUE INDIANAPOLIS IN 46204 CONSTRUCTION 17358743 RM AUCTIONS INC 1711 THUNDERBIRD STREET TROY MI 48084 AUCTION SERVICES 550000 EXHIBIT CONCEPTS INC 700 CROSSROADS COURT VANDALLIA OH 453779675 EXHIBIT CONSTRUCTIONS 400558 INDIANAPOLIS MOTOR SPEEDWAY LLC 4790 WEST 16TH STREET INDIANAPOLIS IN 46222 SHARED SERVICES 400441 BORSHOFF 342 MASSACHUSETTS AVE Indianapolis IN 46204 PROMOTIONAL SUPPORT 227000 14 300027 11303687 137212 11603714 GROUND AND TRACK TOURS 711210 721296 721296 MUSEUM ADMISSIONS 711210 3668648 3668648 REIMBURSED SERVICES 900099 46838 46838 RENTAL 900099 690467 690467 OTHER INCOME 900099 108821 108821 0 0 0 0 5236070 3627057 3627057 82 82 0 0 30459291 113651076 28948879 113662600 1510412 -11524 1498888 -11524 1510412 217596 157342 60254 60254 35844 35283 561 561 0 0 0 0 0 22026626 5225107 0 5197805 464808 92962 327316 44530 2951911 2568061 279095 104755 130004 130004 209020 209020 257882 257882 48761 48761 168211 168211 458616 236382 212096 10138 416583 5028 265099 146456 74487 9506 50694 14287 1671246 1580027 68976 22243 69020 28470 37449 3101 2055400 1788765 200530 66105 213830 114336 99494 MAINTENANCE 1509641 882098 627406 137 MISCELLANEOUS EXPENSE 984097 795112 188985 EVENT/EXHIBITION EXPENSE 210187 104145 85 105957 0 0 0 0 11893704 8204892 3171103 517709 1535932 11872544 13555537 13653209 59577 266923 0 0 0 0 728668 574728 62802679 2685626 50900722 60117053 13239372 93662327 0 0 297469 56613 0 0 80317277 180203397 2472972 644558 144375 258001 0 0 5528328 10687 5023756 117662 13169431 1030908 15899961 164978961 51247885 14193528 67147846 179172489 80317277 180203397 X 10132922 887645 101004076 X false true true false X 3984884 14155430 19374437 5398510 12284242 55197503 5092187 11657470 3047847 942408 118922990 139662902 49646 288093 253851 217596 809186 0 0 0 0 9077071 25862546 22710377 6594769 131424828 195669591 1100237 11924423 12490258 2173386 823763 28512067 0 5003513 0 0 102314162 107317675 1100237 16927936 12490258 2173386 103137925 135829742 59839849 260350 310354 704408 1175106 3627139 6077357 0 0 260350 310354 704408 1175106 3627139 6077357 0 0 0 0 0 0 0 0 9337421 26172900 23414785 7769875 135051967 201746948 0.29661 0.49540 0.03 0.04 X 0 0 0 0 0 0 Schedule A, Part III UNUSUAL GRANT The Indianapolis Motor Speedway Foundation (IMSF) received a grant in 2023 that is considered an unusual grant for the purpose of Schedule A, Part III. IMSF received a singular grant of $20 million from a private foundation during tax year 2023. IMS feels this grant meets the unusual factor of a public-support test and has provided details to support this in the following paragraphs: IMSF, which has been and remains active in soliciting public contributions, is in the midst of an $89 million capital campaign to completely renovate its primary venue, construct a new restoration facility, and build an endowment. This specific private foundation cash contribution of $20 million is the largest contribution received to date, and in fact, considerably the largest in IMSF's 48-year history. Meanwhile, the capital campaign has also received contributions from multiple donors and is expected to continue generating financial support from the general public. IMSF's governing body is comprised of community leaders who are active in helping identify and secure sources of public support. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X false 3438768 494133 82099 44437 3806365 3280472 385069 212929 13844 3438768 2840488 451728 11744 3280472 3420106 854 -529682 33000 17790 2840488 1473754 1464833 496852 15333 3420106 1.0 0.0 0.0 false false 61252277 1999207 59253070 180001 166711 13290 816835 519708 297127 553566 553566 60117053 Federal Income Taxes Retainage Payable 0 Related Party Payabl 15730 Operating Lease Liabilities 56613 Accrued Salary & Wages 45319 117662 23459896 887645 0 545625 1433270 22026626 0 0 22026626 12086329 192625 192625 11893704 0 0 11893704 Schedule D, Part III, Line 3(a) DESCRIPTION OF THE ORGANIZATION'S COLLECTIONS: FOOTNOTE TO THE FINANCIAL STATEMENTS: COLLECTIONS OF WORKS OF ART, HISTORICAL TREASURES AND SIMILAR ASSETS ARE NOT CAPITALIZED IN AS MUCH AS THE ITEMS ARE PRESERVED AND CARED FOR CONTINUOUSLY. MUSEUM COLLECTIONS CONSIST PRIMARILY OF ANTIQUE AUTOMOBILES, RACE CARS, DONATED PACE CARS AND OTHER RACING MEMORABILIA. THE FOUNDATION REFLECTS THE FAIR VALUE OF DONATED COLLECTION ITEMS IN THE STATEMENTS OF ACTIVITIES. PURCHASES OF COLLECTION ITEMS ARE REPORTED IN THE YEAR OF ACQUISITION AS DECREASES IN UNRESTRICTED NET ASSETS, OR IN TEMPORARILY OR PERMANENTLY RESTRICTED NET ASSETS IF THE ASSETS USED TO PURCHASE THE ITEMS WERE RESTRICTED TO THAT USE BY DONOR STIPULATION. PROCEEDS FROM DISPOSAL OF AND INSURANCE RECOVERIES RELATED TO COLLECTION ITEMS ARE REPORTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES AND ARE USED FOR THE ACQUISITION OF OTHER COLLECTION ITEMS AND THE DIRECT CARE OF COLLECTION OBJECTS. MUSEUM COLLECTIONS ARE EXPENSED WHENPURCHASED OR DONATED. Schedule D, Part X ASC 740 DISCLOSURE: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part III, Line 4 Collections of art - description of collections MUSEUM COLLECTIONS CONSIST PRIMARILY OF ANTIQUE AUTOMOBILES, RACE CARS, PACE CARS AND OTHER RACING MEMORABILIA. MOST OF THE FOUNDATION'S AUTOMOBILE COLLECTION IS COMPRISED OF WINNING RACE CARS AND ANTIQUE PASSENGER CARS FOR WHICH NO ESTABLISHED MARKET VALUE EXISTS. THE COLLECTIONS ARE DIRECTLY RELATED TO THE HISTORY OF RACING AND ARE DISPLAYED TO EDUCATE AND ENLIGHTEN THE PUBLIC. Schedule D, Part V, Line 4 Intended uses of endowment funds THE PURPOSE OF THE ENDOWMENT SPENDING IS TO ENSURE THE STABILITY OF THE MISSION, PROGRAMS, EMPLOYMENT, CARE OF THE COLLECTION AND ONGOING OPERATIONS OF THE FOUNDATION Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Fundraising Expenses - 157342 Loss on Uncollectible Contributions - 353000 Cost of Goods Sold - 35283 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Fundraising Expenses - 157342 Cost of Goods Sold - 35283 Hall of Fame Celebration 184500 184500 98126 4073 41142 Speaker Series 31407 31407 11483 2518 2 1689 1689 217596 217596 98126 11483 4073 43660 157342 60254 X X X false false false false false false false true false John Joseph Hale President (ENDED JUNE 2025) 187670 0 100000 0 1110 0 13239 0 0 0 302019 0 0 0 PHIL FOSTER DIRECTOR OF FINANCE 126888 0 13000 0 0 0 7345 0 15556 0 162789 0 0 0 KARA KOVERT PRAY VP OF ADVANCEMENT 123287 0 13000 0 0 0 6955 0 7255 0 150497 0 0 0 JASON VANSICKLE VP OF CURATION AND EDUCATION 129000 0 13000 0 0 0 7246 0 6752 0 155998 0 0 0 Schedule J, Part I, Line 7 Non-fixed payments PROCESS FOR DETERMINING OFFICER COMPENSATION: In addition to the base salary, the President is eligible for an annual bonus based on the attainment of specific objectives determined annually by the Board. A bonus for the President and key employees was approved by the Board in June 2025 to recognize the successful renovation and reopening of the museum. Indianapolis Motor Speedway LLC Officer is a Board Member 400441 Shared Services Agreement false Schedule L, Part IV BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS The Foundation has entered into a shared services agreement (agreement) with the Indianapolis Motor Speedway (IMS). The agreement describes the terms between IMS and the Foundation with respect to providing certain services relating to Mail Services, External Security, Marketing, and some Creative Services. IMS owns the building and provides the Foundation's facility with lease terms without charge. 6 82412 Market value 2 54800 Market value 0 false true false Schedule M, Part I, Line 33 AMOUNTS REPORTED IN COLUMN (C) THE FOUNDATION RECEIVED SEVERAL COLLECTIBLE ITEMS DURING THE YEAR. PER SFAS 116, THE FOUNDATION DOES NOT RECORD THESE ITEMS AS REVENUE ON THE FINANCIAL STATEMENTS. THEREFORE THESE ITEMS ARE NOT CAPITALIZED. Schedule M, Part I, Line 11 AMOUNTS REPORTED IN COLUMN (C) THE PUBLICLY TRADED STOCKS ON SCHEDULE M WERE ALL RECEIVED TO SATISFY A PRIOR YEAR PLEDGE AND ARE NOT INCLUDED IN CURRENT YEAR INCOME. Schedule M, Part I Explanations of reporting method for number of contributions Collectibles - NUMBER OF CONTRIBUTIONS Securities - Publicly traded - THE ORGANIZATION IS REPORTING THE NUMBER OF STOCKS DONATED. Form 990, Part III, Line 2 New program services Significant changes in program services: The museum re-opened in April 2025, after being closed since November 2023 for substantial infrastructure and technology renovations. Form 990, Part VI, Line 1a Kirk Hendrix was a board member from January to June. In July he became the interim President and therefore a non-voting board member Form 990, Part VI, Line 11b Review of form 990 by governing body THE BOARD ENGAGES A FIRM TO PERFORM AN INDEPENDENT AUDIT OF THE ORGANIZATIONS FINANCIAL STATEMENTS. THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AFTER AUDIT IS COMPLETE AND REVIEWED BY THE FINANCE COMMITTEE. THE RESULTS ARE FORMALLY PRESENTED TO THE BOARD ALONG WITH MANAGEMENT REMARKS. THE BOARD TREASURER SIGNS THE RETURN PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy THE ORGANIZATION HAS ADOPTED A CONFLICT-OF-INTEREST POLICY THAT REQUIRES DIRECTORS TO SUBMIT AN ANNUAL CONFLICT OF INTEREST DISCLOSURE. THE ANNUAL DISCLOSURE REQUIRES DIRECTORS, TO DISCLOSE, IN WRITING, ANY KNOWN FINANCIAL INTEREST THE INDIVIDUAL HAS IN ANY BUSINESS ENTITY THAT TRANSACTS BUSINESS WITH THE ORGANIZATION. IN ADDITION, DIRECTORS ARE REQUIRED TO IMMEDIATELY DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST THAT ARISE MID-YEAR IN RELATION TO A PROPOSED TRANSACTION. THE CONFLICT-OF-INTEREST POLICY REQUIRES ANY INDIVIDUAL WITH A CONFLICT BE RECUSED FROM THE DECISION-MAKING PROCESS, INDEPENDENT DIRECTORS OR COMMITTEE MEMBERS DETERMINE THE PROPOSED TRANSACTION IS IN THE BEST INTEREST OF THE ORGANIZATION, AND THE TRANSACTION MUST BE APPROVED BY A VOTE OF THE INDEPENDENT DIRECTORS OR COMMITTEE MEMBERS WITHOUT THE PARTICIPATION OF ANY INTERESTED INDIVIDUAL. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE GOVERNANCE COMMITTEE REVIEWS AND RECOMMENDS, AND THE BOARD APPROVES THE COMPENSATION FOR THE PRESIDENT. THE SALARY IS BASED ON PAY FOR A COMPARABLE POSITION. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE GOVERNANCE COMMITTEE REVIEWS AND RECOMMENDS, AND THE BOARD APPROVES THE COMPENSATION FOR OFFICERS. THE SALARY IS BASED ON PAY FOR A COMPARABLE POSITION. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION'S GOVERNING DOCUMENTS, CONLFICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part VIII, Line 7a In planning for the museum renovation, a review of the entire vehicle collection was performed. It was determined that certain vehicles did not fit the mission of the museum. These vehicles went through a deaccession process and were sold in February 2025. The proceeds are being used to establish an endowment. The earnings of the endowment will be used to provide funding for the direct care of the collection and acquisition of collection items that better fit the mission of the museum. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Collection Items Acquired and Not Capitalized - -13000000; Loss on Uncollectible Contributions - 353000; Proceeds from Deaccession - XXX-XX-XXXX; Total - 101004076;