Richard Petty Museum Inc

Randleman, NC
Tax-exempt since April 1995
EIN: 56-1859132

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Arts, Culture and Humanities / Museum, Museum Activities (NTEE)

Donations to this organization are tax deductible.

Revenue

$338k (2024)

Expenses

$296k (2024)

Total Assets

$11.9M (2024)

Total Liabilities

$9.05k (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$337,952

Expenses

$296,351

Net Income

$41,601

Net Assets

$11,904,926

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$11,103	3.3%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$87,865	26.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$13,247	4.5%
Compensation of Officers*	$42,200	14.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,913,976
Total Liabilities	$9,050
Net Assets	$11,904,926

Compensation

Key Employees and Officers	Compensation	Other
Sharon Farlow (Executive Dir.)	$42,200	$0
Winston Kelly (Director)	$0	$0
Robert Wilhoit (Director)	$0	$0
Reynolds Lisk (Director)	$0	$0
Amber Scarlet (Director)	$0	$0
Rebecca Moffitt (Secretary)	$0	$0

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990-PF

Filed on Nov. 12, 2025

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2023

Revenue

$278,664

Expenses

$275,230

Net Income

$3,434

Net Assets

$11,863,325

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$9,891	3.5%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$90,366	32.4%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$13,978	5.1%
Compensation of Officers*	$40,500	14.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,882,019
Total Liabilities	$18,694
Net Assets	$11,863,325

Compensation

Key Employees and Officers	Compensation	Other
Sharon Farlow (Executive Dir.)	$40,500	$0
Winston Kelly (Director)	$0	$0
Robert Wilhoit (Director)	$0	$0
Reynolds Lisk (Director)	$0	$0
Amber Scarlet (Director)	$0	$0
Rebecca Moffitt (Secretary)	$0	$0

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990-PF

Filed on Nov. 1, 2024

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2022

Revenue

$270,140

Expenses

$271,790

Net Income

-$1,650

Net Assets

$11,859,891

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$4,152	1.5%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$63,977	23.7%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,802	2.1%
Compensation of Officers*	$40,500	14.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,877,683
Total Liabilities	$17,792
Net Assets	$11,859,891

Compensation

Key Employees and Officers	Compensation	Other
Sharon Farlow (Executive Dir.)	$40,500	$0
Winston Kelly (Director)	$0	$0
Robert Wilhoit (Director)	$0	$0
Reynolds Lisk (Director)	$0	$0
Amber Scarlet (Director)	$0	$0
Rebecca Moffitt (Secretary)	$0	$0

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990-PF

Filed on Nov. 13, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2021

Revenue

$284,278

Expenses

$209,207

Net Income

$75,071

Net Assets

$11,861,541

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$90,907	32.0%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$52,664	18.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$15,636	7.5%
Compensation of Officers*	$38,566	18.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,884,365
Total Liabilities	$22,824
Net Assets	$11,861,541

Compensation

Key Employees and Officers	Compensation	Other
Sharon Farlow (Executive Dir.)	$38,566	$0
Richard L Petty (President)	$0	$0
Rebecca Moffitt (Secretary)	$0	$0

990-PF

Filed on July 29, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2020

Revenue

$125,321

Expenses

$205,694

Net Income

-$80,373

Net Assets

$11,786,470

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$3,632	2.9%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$28,916	23.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$81,538	39.6%
Compensation of Officers*	$37,110	18.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,854,693
Total Liabilities	$68,223
Net Assets	$11,786,470

Compensation

Key Employees and Officers	Compensation	Other
Sharon Farlow (Executive Dir.)	$37,110	$0
Richard L Petty (President)	$0	$0
Rebecca Moffitt (Secretary)	$0	$0

990-PF

Filed on Aug. 11, 2021

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2019

Revenue

$217,015

Expenses

$263,476

Net Income

-$46,461

Net Assets

$11,866,843

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$666	0.3%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$78,095	36.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$44,873	17.0%
Compensation of Officers*	$39,143	14.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,905,677
Total Liabilities	$38,834
Net Assets	$11,866,843

Compensation

Key Employees and Officers	Compensation	Other
Sharon Farlow (Executive Dir.)	$39,143	$0
Richard L Petty (President)	$0	$0
Rebecca Moffitt (Secretary)	$0	$0

990-PF

Filed on Nov. 12, 2020

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

PDF (2 of 2)

Fiscal Year Ending Dec.
2018

Revenue

$327,925

Expenses

$296,470

Net Income

$31,455

Net Assets

$11,913,304

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$73,398	22.4%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$88,909	27.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$41,943	14.1%
Compensation of Officers*	$40,500	13.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,916,967
Total Liabilities	$3,663
Net Assets	$11,913,304

Compensation

Key Employees and Officers	Compensation	Other
Sharon Farlow (Executive Dir.)	$40,500	$0
Richard L Petty (President)	$0	$0
Rebecca Moffitt (Secretary)	$0	$0

990-PF

Filed on Nov. 14, 2019

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2017

Revenue

$322,376

Expenses

$292,846

Net Income

$29,530

Net Assets

$11,881,849

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$1,000	0.3%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$161,421	50.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$0
Compensation of Officers*	$28,664	9.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,895,994
Total Liabilities	$14,145
Net Assets	$11,881,849

Compensation

Key Employees and Officers	Compensation	Other
Sharon Farlow (Executive Dir.)	$28,664	$0
Richard L Petty (President)	$0	$0
Rebecca Moffitt (Secretary)	$0	$0

990-PF

Filed on Nov. 14, 2018

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2016

Revenue

$370,168

Expenses

$338,068

Net Income

$32,100

Net Assets

$11,852,319

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$50,266	13.6%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$171,506	46.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$42,910	12.7%
Compensation of Officers*	$28,500	8.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,880,673
Total Liabilities	$28,354
Net Assets	$11,852,319

Compensation

Key Employees and Officers	Compensation	Other
Sharon Farlow (Executive Dir.)	$28,500	$0
Richard L Petty (President)	$0	$0
Rebecca Moffitt (Secretary)	$0	$0

990-PF

Filed on Nov. 15, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

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990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2015

Revenue

$454,781

Expenses

$279,935

Net Income

$174,846

Net Assets

$11,820,219

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$161,796	35.6%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$140,908	31.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$117,992	42.1%
Compensation of Officers*	$14,250	5.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,860,758
Total Liabilities	$40,539
Net Assets	$11,820,219

Compensation

Key Employees and Officers	Compensation	Other
Sharon Farlow (Executive Dir.)	$14,250	$0
Richard L Petty (President)	$0	$0
Rebecca Moffitt (Secretary)	$0	$0

990-PF

Filed on Aug. 12, 2016

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

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990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2014

Revenue

$307,985

Expenses

$263,846

Net Income

$44,139

Net Assets

$11,645,373

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$113,471	36.8%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$116,326	37.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$69,331	26.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,691,441
Total Liabilities	$46,068
Net Assets	$11,645,373

Compensation

Key Employees and Officers	Compensation	Other
Richard L Petty (President)	$0	$0
Rebecca Moffitt (Secretary)	$0	$0
Sharon Farlow (Treasurer)	$0	$0

990-PF

Filed on Aug. 13, 2015

Primary tax return for a private foundation's activities, finances, and governance

View Filing

Schedules ▼

PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2013

Revenue

-$19,731

Expenses

$240,756

Net Income

-$260,487

Net Assets

$11,601,234

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$11,741
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$73,908

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$102,797	42.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,626,940
Total Liabilities	$25,706
Net Assets	$11,601,234

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2012

Revenue

$779,147

Expenses

$286,027

Net Income

$493,120

Net Assets

$11,861,721

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$587,144	75.4%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$25,000	3.2%
Other Income	$126,065	16.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$172,379	60.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,871,319
Total Liabilities	$9,598
Net Assets	$11,861,721

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2011

Revenue

$100,918

Expenses

$175,265

Net Income

-$74,347

Net Assets

$11,368,601

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$19,973	19.8%
Interest Revenue	$0
Dividends	$0
Sales of Assets	$0
Other Income	$34,273	34.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$66,386	37.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,448,355
Total Liabilities	$79,754
Net Assets	$11,368,601

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Richard Petty Museum Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $338k (2024)

Expenses $296k (2024)

Total Assets $11.9M (2024)

Total Liabilities $9.05k (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$338k (2024)

Expenses

$296k (2024)

Total Assets

$11.9M (2024)

Total Liabilities

$9.05k (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004

Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
2002

Fiscal Year Ending Dec.
2001