Here is the design I came up with for your annual race. I wanted it to feel like an official emblem or crest that could be used each year, and is also in such a versatile shape that it would look great on anything from signage to car panels to t-shirts and other apparel. The burst on the cannon ball is meant to represent the hope of the good cause it is for, giving it a positive and warm feel.
We like entry #8 very much. Is there any way you can incorporate a checkered flag (or two) or a checkered flag pattern to help signify that the event is a race?