Nhra and the cash cow

Bruce Noland · 04-20-2009, 08:18 PM

I'll try to dig up some of my old research on this outfit. I have some of their charter stuff and legal materials that were given to me by a California non profit lawyer. It's been awhile but I seem to remember him saying something about challenging the take over by Wally & Co.

Larry Hill · 04-21-2009, 07:33 PM

We have a copy of the tax return (Form 990) for NHRA for 1992 and 1993. We also have the By-Laws and Articles of Incorporation plus a few other forms. The reason we have these is that Larry got mad at NHRA in 1995 after he had been running the little red Chevy pick-up truck for a year (before AHFS). In that year, the truck had been given 30 horsepower and the index dropped 1 second ( not a tenth, but 1 full second). So he wrote and requested these forms. He was so pissed off that he didn't race for about a year, but then I remember a talk he had with Stan Perry something to the effect that "it's their ballgame and you can stay mad if you want to, but if you want to do what you truly enjoy doing, just suck it up". Those were not the exact words, but he got the meaning! So we have been racing ever since. We still have all these forms and I will bring them with us to Memphis this weekend if anyone wants to see them. I don't think Larry plans on doing anything with them, but after all these last increases in fees, it just brought back some bad feelings.

Look us up at Memphis if you want to see these.

Patsy

Ed Fernandez · 04-21-2009, 07:38 PM

Quote:

Originally Posted by Larry Hill

We have a copy of the tax return (Form 990) for NHRA for 1992 and 1993. We also have the By-Laws and Articles of Incorporation plus a few other forms. The reason we have these is that Larry got mad at NHRA in 1995 after he had been running the little red Chevy pick-up truck for a year (before AHFS). In that year, the truck had been given 30 horsepower and the index dropped 1 second ( not a tenth, but 1 full second). So he wrote and requested these forms. He was so pissed off that he didn't race for about a year, but then I remember a talk he had with Stan Perry something to the effect that "it's their ballgame and you can stay mad if you want to, but if you want to do what you truly enjoy doing, just suck it up". Those were not the exact words, but he got the meaning! So we have been racing ever since. We still have all these forms and I will bring them with us to Memphis this weekend if anyone wants to see them. I don't think Larry plans on doing anything with them, but after all these last increases in fees, it just brought back some bad feelings.

Look us up at Memphis if you want to see these.

Patsy

If I'm not mistaken that truck was capable of going 6 months under the index.Correct me if I'm wrong.

Ed F,

Julie Jordan · 04-21-2009, 07:42 PM

The 2007 tax returns are posted on dragracingonline website. They post the returns each year. The 2008 returns aren't due with IRS until next month.

Ed Fernandez · 04-21-2009, 07:44 PM

Opinions are like *%&holes,everybody has one.The only way to get to the bottom of the matter is to have a corporate lawyer and or accountant look over the corporate papers for anything to nail them on as far as when they proxied the association vote. End of story.Everything else is speculation,and you know how far that will go in a court of law.
Don't we have some lawyers in out midst?

Ed F.

04-20-2009, 08:18 PM	#1
Bruce Noland VIP Member Join Date: Jun 2002 Posts: 1,855 Likes: 83 Liked 444 Times in 145 Posts	Re: Nhra and the cash cow I'll try to dig up some of my old research on this outfit. I have some of their charter stuff and legal materials that were given to me by a California non profit lawyer. It's been awhile but I seem to remember him saying something about challenging the take over by Wally & Co. __________________ Bruce Noland 1788 STK

04-21-2009, 07:33 PM	#2
Larry Hill Live Reporter Join Date: Oct 2004 Location: Hickory, Ky Posts: 10,629 Likes: 1,922 Liked 10,681 Times in 2,222 Posts	Re: Nhra and the cash cow We have a copy of the tax return (Form 990) for NHRA for 1992 and 1993. We also have the By-Laws and Articles of Incorporation plus a few other forms. The reason we have these is that Larry got mad at NHRA in 1995 after he had been running the little red Chevy pick-up truck for a year (before AHFS). In that year, the truck had been given 30 horsepower and the index dropped 1 second ( not a tenth, but 1 full second). So he wrote and requested these forms. He was so pissed off that he didn't race for about a year, but then I remember a talk he had with Stan Perry something to the effect that "it's their ballgame and you can stay mad if you want to, but if you want to do what you truly enjoy doing, just suck it up". Those were not the exact words, but he got the meaning! So we have been racing ever since. We still have all these forms and I will bring them with us to Memphis this weekend if anyone wants to see them. I don't think Larry plans on doing anything with them, but after all these last increases in fees, it just brought back some bad feelings. Look us up at Memphis if you want to see these. Patsy __________________ IHM Used Parts https://ihmusedparts.com 888-821-1817

04-21-2009, 07:42 PM	#4
Julie Jordan Senior Member Join Date: Dec 2001 Location: Modesto, CA Posts: 638 Likes: 90 Liked 525 Times in 93 Posts	Re: Nhra and the cash cow The 2007 tax returns are posted on dragracingonline website. They post the returns each year. The 2008 returns aren't due with IRS until next month. __________________ Julie Jordan 7549 STK

04-21-2009, 07:44 PM	#5
Ed Fernandez Veteran Member Join Date: Nov 2001 Location: NOO JOISEY nexta NOO YAWK Posts: 5,879 Likes: 38 Liked 100 Times in 45 Posts	Re: Nhra and the cash cow Opinions are like *%&holes,everybody has one.The only way to get to the bottom of the matter is to have a corporate lawyer and or accountant look over the corporate papers for anything to nail them on as far as when they proxied the association vote. End of story.Everything else is speculation,and you know how far that will go in a court of law. Don't we have some lawyers in out midst? Ed F. __________________ Former NHRA #1945 Former IHRA #1945 T/SA