In a perfect world, yes.
For your feasibility study, you may find my Race Purse Calculator spreadsheet useful -
http://www.staginglight.com/resources/race_purse07.xls (if it asked for a password, just hit cancel. It should load.) When you factor in track rentals, things might get tight. You can probably count on $6K-$8K/day on renting a decent facility, or I've heard rumors all the way up to $43K/day for Concord. LOL I ran the numbers for this type of deal last year, and it's very hard to do everything as a promoter that you would like to be able to do as a racer.
I don't think you can pay back further than IHRA, since round 1 winners get paid at Nationals. I'm okay with round money starting 3rd round loser.
Pre-entries may be a necessary evil due to the track rental policy at some facilities - but that's something that I would support for a worthy cause.
That being said, if the ball gets rolling, I will step up to help along the lines of graphic design and printing. I can also help with website work and race reporting -- with a smattering of photography and announcing between rounds.
"CLASSCAR" - CLASSracer's Club of Auto Racing