'Just a credit for a future race' - I'm OK with you asking for that, as long as when that race comes around, you're willing to:

- not have any generators, sound systems, tents, tables at the venue
- no tables at the aid stations
- willing to take a shirt from this year's canceled event
- no dumpsters. the company was paid this year for delivering them; too bad they weren't filled
- year-old water that may be a little stale; don't know what condition the year-old Gatorade, GU's, or anything else that was going to be available on course (plus chip in some money for the cost of storing that stuff for a year)
- you'll have to pay at the gate for the new race's current permit fees, since the canceled event's fees are already sunk, and there's no new registration income to replace it
- were the bike racks rented? if so, just lay your bike down on a patch of grass or dirt
- was there rented barricade fencing around transition, or along the entrances / exits? hope that nobody wanders into your path while you're racing

I'm sure I haven't hit everything, but if everyone got a free race next year, you would probably find that the race director isn't around to put the race on.