NHRA roles for bankruptcy

[KRatcliff]

Originally Posted by Julie Jordan

The museum is a separate tax-exempt organization.

NHRA’s tax returns are public. The returns include a balance sheet which shows no long-term debt, i.e. mortgages. The organization owns real property, pays property taxes like the rest of us.

I know you are not suggesting that they are filing bankruptcy or even considering it, but I have a general question for you in this regards. You have researched that they have no long term debt, mortgages, etc. My question is why would bankruptcy even be on the table at all?

Unless somehow a company, individual, or organization would have liabilities or obligations exceeding assets or capital to cover then nothing should force (no pun intended) them to choose bankruptcy as an option.