MAINE HARNESS HORSEMANS ASSOCIATION (EIN 010377632) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1965

Legal Domicile

Phone

2076236442

Tax Period

2025-01-01 to 2025-12-31

MAINE HARNESS HORSEMANS ASSOCIATION, founded in 1965, is a small nonprofit in the Community Improvement sector that reported $207K in total revenue in fiscal year 2025. Revenue decreased 19% compared to the prior year. Expenses of $195K left a modest 5% surplus.

Mission

MHHA SERVES THE NEEDS OF MAINE STANDARDBRED HORSE BREEDERS, DRIVERS AND GROOMS. THE ASSOCIATIONS PURPOSE IS PROMOTE THE WELFARE OF HARNESS RACING IN MAINE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $21,613

Program Service Revenue $185,074

Investment Income $0

Other Revenue $0

TOTAL REVENUE $206,687

Expense Breakdown

Grants Paid $0

Salaries & Benefits $71,377

Fundraising Expenses $0

Program Expenses $195,457

Other Expenses $124,080

TOTAL EXPENSES $195,457

Year-over-Year Comparison

	2025	2024	Change
Revenue	$206,687	$253,931	-0.2%
Expenses	$195,457	$184,028	+0.1%
Net Income	$11,230	$69,903	-0.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL CUSHING	PRESIDENT	1.00	Officer Director	$0	$0	$0
DAVID CROCHERE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
AARON HALL	TREASURER	1.00	Officer Director	$0	$0	$0
BETHANY GRAFFAM	SECRETARY	1.00	Officer Director	$0	$0	$0
DON MAREAN	DIRECTOR	1.00	Officer Director	$0	$0	$0
WILLIAM PHIPPS	DIRECTOR	1.00	Officer Director	$0	$0	$0
MICHELLE HARDIN	DIRECTOR	1.00	Officer Director	$0	$0	$0
WILLIAM UNDERHILL	DIRECTOR	1.00	Officer Director	$0	$0	$0
MICHAEL MCGEE	DIRECTOR	1.00	Officer Director	$0	$0	$0
MARYANN THOMPKINS	DIRECTOR	40.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$206,687	$195,457	$220,288	$11,230
2024	$253,931	$184,028	$214,536	$69,903
2023	$192,246	$247,266	$156,073	$-55,020
2022	$297,731	$236,749	$208,249	$60,982
2021	$198,986	$183,350	$147,267	$15,636
2020	$169,529	$109,305	$131,631	$60,224
2019	$167,864	$221,174	$71,407	$-53,310
2018	$217,434	$184,385	$124,717	$33,049

MAINE HARNESS HORSEMANS ASSOCIATION