Foundation Facts
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Track Shack Foundation FAQ's ........................
Overview
The Track Shack Foundation, Inc. was established in 1994 as a 501 (c) (3) non profit organization with the purpose of promoting health and fitness with an emphasis on youth programs. The Foundation has touched the lives of thousands of people and contributed over $2 million into the greater Central Florida community, primarily serving Orange, Osceola, Lake, Seminole, Brevard, and Volusia counties.
What is the Track Shack Foundation?
The Track Shack Foundation ("Foundation") is registered as a non profit organization under special rules established by the IRS relating to non profit organizations. Thus the Foundation is under the scrutiny and reporting rules defined by the IRS, including the filing of an annual report and audit by the IRS at its discretion.
What is the mission of the Track Shack Foundation?
Briefly, the by-laws of the Foundation state that its purpose is to promote and encourage health and fitness in our community with an emphasis on youth programs. Income derived from activities of the Foundation is to be used exclusively for the support of health related activities and for educational, charitable, religious, scientific, or literary purposes.
How does the Track Shack Foundation execute its mission?
The Foundation is managed by a Board of Trustees who have an interest in and dedication to the mission of the Foundation. It has no paid employees, thus allowing net proceeds to go 100% to the community. The Board meets periodically and oversees the organization and the distribution of available cash.
What is the business model of the Track Shack Foundation?
The Foundation derives income from several sources, proceeds from Track Shack Fitness Club events, cook book sales, and grants to the Foundation by local organizations and individual donations.
What does the Foundation do with the funds?
Available cash is given back to a wide variety of worthy organizations in this community. This is accomplished in two ways. A majority of the funds available for distribution are designated on a race by race basis. The remaining available funds are distributed through a grant application process to worthy organizations.
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During calendar year 2008 the Foundation distributed over $570,000 to over 100 worthy organizations in our community. These include a wide variety of charitable organizations such as Seniors First, Howard Phillips Center for Children and Families, Winnie Palmer Hospital for Women and Babies, Boys & Girls Club of Central Florida. Grants were awarded to over 12 schools recreational programs as well as running & sports organizations.
