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WKA Financial Update: 2010 Results and 2011 Trends

The WKA has analyzed its financial history and operational changes from 2010 through mid-2011. In 2010, total revenue decreased to $1.65 million, marking a significant decline of $1 million over five years. Factors included reduced race entries and increased operational costs, resulting in a $200k drop in revenue and a $15k rise in expenses. Strategic adjustments led to improved net income amidst challenges. Key areas of focus include sponsorship revenues, expense management, and long-term partnerships. Further details on income sources and operational changes will guide future decisions.

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WKA Financial Update: 2010 Results and 2011 Trends

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  1. 8.26.11 WKA Finance Update • Financial History • 2010 Results • 2011 YTD Results • Income Sources • Operational Changes

  2. Financial History

  3. What Happened in 2010? • Road America Event • Road race entries down 200 from 2009 = $37k loss NRRS race • Dirt & Pavement Series • Increased costs to run Dirt program 2010, $37k loss • Pavement down 400 entries from 2009 = $10k loss • Legal Expenses • Legal actino $47k • Magazine • $54k loss for WKA Inc. (magazine operation) • Overall $200k lower revenue in 2010 and $15k more in expenses

  4. Revenue Sources: Dec – May 2011

  5. Expense Items: Dec – May 2011 Nat’l Race Expense

  6. Other Revenue & Expense Detail* *Material categories only, rounded

  7. 2010 Series Results

  8. Operational Dashboard History *Sponsorship revenue spread evenly throughout year, includes 7 months **11 of 22 national events complete as of 6/30/11

  9. Financial History in Summary • Improved net income, despite significant revenue decreases 2008-2009 • 2005 $2.6 million total revenue • 2006 $2.1m • 2007-2009 $1.9m • 2010 $1.65m ($1m lost revenue in 5 years) • Despite $1m lost revenue, $200k improvement to bottom line • Significant operational learning and change decisions: • Contract rewrites • Corrected pricing • Long-term sponsor relationships • “Magazine” transformation • Organizational changes • Awards appropriation

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