Nhra and the cash cow

Larry Hill · 04-14-2009, 09:03 PM

NHRA 1993 tax return shows a sale of 4,485 shares of 20th Century Industries on March 25, 1993 at the sales price $147,549.00 the cost of the 4,485 shares is listed at $62.00 , yeilding a profit of $147,487.00

On April 21, 1993 NHRA sold an additonal 25,000 shares of 20th Century Industries for $761,222 at a cost of $347.00 at a profit of $760,875.00

Lets do the math 29,485 shs Sale Price $908,771

Cost $409

Profit $908,362

More later, its bed time and I have to go to work tomorrow.

Larry Hill · 04-15-2009, 07:17 PM

This information is from the 1992 tax return:

National Hot Rod Association: Federal ID No. 95-1686172 ; State ID No. D- 0252349; Reg. of charitable Tr. I.D No CT- 25213; year ended Dec. 31 1992

Form 990 - Part IV - line 50

Receivable From Officer:

Name and Title: Dallas J. Gardner President

Original Amount: $ 100,000

Balance Due: $75,000

Date of note: Dec. 7, 1990

Larry Hill · 04-15-2009, 07:27 PM

The rest of post no. Two
Maturity Date: Dec 15, 1994

Repayment terms: $25,000 annually due each Dec 15th, beginning Dec 15 1991

Intrest Rate : "Non-Intrest Bearing"

Security Provided by Borrower: Real Property

Purpose of Loan: Cash Flow And Liquidity Loan

Considideration Furnished by The Lender: Cash -$100,000

Jack Matyas · 04-15-2009, 09:17 PM

Larry -- This isn't great bedtime reading but interesting nontheless -- are we going to get this in installments ( no pun intended ) or are you going to just tell us if he repaid the loan ? And when .....

Larry Hill · 04-16-2009, 06:40 AM

Jack after working all day, then working on the car, it does not leave a lot of time for my two fingers to bang on the keys.

Gardner did make his payment in 1993, the part that bothers me is the "Non-Interest Bearing" loan. I wonder how much of NHRA assets are avable to us just in case we need a loan due to "Cash Flow And Liqudity"

X-TECH MAN · 04-16-2009, 07:44 AM

You will NEVER get any "UNITY" either. Just reading this forum will tell you that.

Keith Lynch · 04-16-2009, 08:00 AM

I'm sure NHRA would not like to see me on the witness stand.LOL

Glenn Person · 04-16-2009, 08:49 AM

Quote:

Originally Posted by Keith Lynch

I'm sure NHRA would not like to see me on the witness stand.LOL

Keith, are you insinuating that you have a juicy story or two to share with us?

Larry Hill · 04-16-2009, 12:02 PM

Bo; Do you think we could get Jeff's old friend Paul to help?

Jim Woods · 04-16-2009, 02:59 PM

Bo, you have a pm

04-14-2009, 09:03 PM	#1
Larry Hill Live Reporter Join Date: Oct 2004 Location: Hickory, Ky Posts: 10,615 Likes: 1,901 Liked 10,657 Times in 2,212 Posts	Nhra and the cash cow NHRA 1993 tax return shows a sale of 4,485 shares of 20th Century Industries on March 25, 1993 at the sales price $147,549.00 the cost of the 4,485 shares is listed at $62.00 , yeilding a profit of $147,487.00 On April 21, 1993 NHRA sold an additonal 25,000 shares of 20th Century Industries for $761,222 at a cost of $347.00 at a profit of $760,875.00 Lets do the math 29,485 shs Sale Price $908,771 Cost $409 Profit $908,362 More later, its bed time and I have to go to work tomorrow. __________________ IHM Used Parts https://ihmusedparts.com 888-821-1817

04-15-2009, 07:17 PM	#2
Larry Hill Live Reporter Join Date: Oct 2004 Location: Hickory, Ky Posts: 10,615 Likes: 1,901 Liked 10,657 Times in 2,212 Posts	Re: Nhra and the cash cow This information is from the 1992 tax return: National Hot Rod Association: Federal ID No. 95-1686172 ; State ID No. D- 0252349; Reg. of charitable Tr. I.D No CT- 25213; year ended Dec. 31 1992 Form 990 - Part IV - line 50 Receivable From Officer: Name and Title: Dallas J. Gardner President Original Amount: $ 100,000 Balance Due: $75,000 Date of note: Dec. 7, 1990 __________________ IHM Used Parts https://ihmusedparts.com 888-821-1817

04-15-2009, 07:27 PM	#3
Larry Hill Live Reporter Join Date: Oct 2004 Location: Hickory, Ky Posts: 10,615 Likes: 1,901 Liked 10,657 Times in 2,212 Posts	Re: Nhra and the cash cow The rest of post no. Two Maturity Date: Dec 15, 1994 Repayment terms: $25,000 annually due each Dec 15th, beginning Dec 15 1991 Intrest Rate : "Non-Intrest Bearing" Security Provided by Borrower: Real Property Purpose of Loan: Cash Flow And Liquidity Loan Considideration Furnished by The Lender: Cash -$100,000 __________________ IHM Used Parts https://ihmusedparts.com 888-821-1817

04-15-2009, 09:17 PM	#4
Jack Matyas Live Reporter Join Date: Nov 2001 Location: Bethlehem , PA -Christmas City , USA Posts: 4,913 Likes: 404 Liked 1,945 Times in 388 Posts	Re: Nhra and the cash cow Larry -- This isn't great bedtime reading but interesting nontheless -- are we going to get this in installments ( no pun intended ) or are you going to just tell us if he repaid the loan ? And when ..... __________________ Jack Matyas 1547 FS/C 2015 Camaro COPO # 62- 2012 Camaro Convertible COPO

04-16-2009, 06:40 AM	#5
Larry Hill Live Reporter Join Date: Oct 2004 Location: Hickory, Ky Posts: 10,615 Likes: 1,901 Liked 10,657 Times in 2,212 Posts	Re: Nhra and the cash cow Jack after working all day, then working on the car, it does not leave a lot of time for my two fingers to bang on the keys. Gardner did make his payment in 1993, the part that bothers me is the "Non-Interest Bearing" loan. I wonder how much of NHRA assets are avable to us just in case we need a loan due to "Cash Flow And Liqudity" __________________ IHM Used Parts https://ihmusedparts.com 888-821-1817 Last edited by Larry Hill; 04-16-2009 at 06:54 AM. Reason: Just can't spell

04-16-2009, 07:44 AM	#6
X-TECH MAN Banned Join Date: Dec 2007 Location: Lake Placid, Florida Posts: 3,203 Likes: 1,047 Liked 235 Times in 110 Posts	Re: Nhra and the cash cow You will NEVER get any "UNITY" either. Just reading this forum will tell you that.

04-16-2009, 08:00 AM	#7
Keith Lynch Junior Member Join Date: Mar 2006 Location: ohio Posts: 43 Likes: 0 Liked 0 Times in 0 Posts	Re: Nhra and the cash cow I'm sure NHRA would not like to see me on the witness stand.LOL __________________ Keith Lynch 5035 STK

04-16-2009, 12:02 PM	#9
Larry Hill Live Reporter Join Date: Oct 2004 Location: Hickory, Ky Posts: 10,615 Likes: 1,901 Liked 10,657 Times in 2,212 Posts	Re: Nhra and the cash cow Bo; Do you think we could get Jeff's old friend Paul to help? __________________ IHM Used Parts https://ihmusedparts.com 888-821-1817

04-16-2009, 02:59 PM	#10
Jim Woods Senior Member Join Date: Aug 2006 Location: celina, ohio Posts: 623 Likes: 4 Liked 12 Times in 7 Posts	Re: Nhra and the cash cow Bo, you have a pm __________________ Jim Woods