NEW ENGLAND HORSEMEN'S BENEVOLENT PROTECTIVE ASSOCIATION INC

EIN: 043206606

NORTH WALTHAM, MA

Total Revenue
$724,559
Total Expenses
$875,711
Total Assets
$677,024
Net Assets
$665,240
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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
1992
Legal Domicile
MA
Principal Officer
PAUL UMBRELLO
Phone
6177443603
Tax Period
2023-01-01 to 2023-12-31

NEW ENGLAND HORSEMEN'S BENEVOLENT PROTECTIVE ASSOCIATION INC, founded in 1992, is a small nonprofit that reported $725K in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $876K exceeded revenue, resulting in a 21% operating deficit.

Mission

THE ORGANIZATION'S MAIN PURPOSE IS TO PROMOTE THE SPORT OF THOROUGHBRED HORSE RACING AND PROMOTE THE WELFARE OF THE PERSONNEL WITHIN THE INDUSTRY.

Program Service Accomplishments

Program 1

PROMOTE THE SPORT OF THOROUGHBRED RACING AND PROMOTING THE GENERAL WELFARE OF THE INTEREST OF THE HORSEMEN, THEIR EMPLOYEES, AND THE BACKSTRETCH PERSONNEL, SUPPORT INCLUDES LOBBYING FOR THEIR WELFARE...

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PROMOTE THE SPORT OF THOROUGHBRED RACING AND PROMOTING THE GENERAL WELFARE OF THE INTEREST OF THE HORSEMEN, THEIR EMPLOYEES, AND THE BACKSTRETCH PERSONNEL, SUPPORT INCLUDES LOBBYING FOR THEIR WELFARE AND PROVIDING VARIOUS SERVICES.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $712,120
Investment Income $12,439
Other Revenue $0
TOTAL REVENUE $724,559

Expense Breakdown

Grants Paid $514,557
Salaries & Benefits $197,541
Fundraising Expenses $0
Other Expenses $163,613
TOTAL EXPENSES $875,711

Year-over-Year Comparison

2023 2022 Change
Revenue $724,559 $666,339 +0.1%
Expenses $875,711 $759,600 +0.2%
Net Income $-151,152 $-93,261 +0.6%
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

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Governance

Voting Members
11
Independent Members
11
Employees
N/A
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
4
$187,251
Total Directors
11
$187,251
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANTHONY SPADEA PRESIDENT 1.00
Officer Director
$0 $0 $0
CHRIS TRAKAS DIRECTOR 1.00
Director
$0 $0 $0
SHIRLEY DULLEA TREASURER 40.00
Officer Director
$63,325 $0 $63,325
KEVIN MCCARTHY VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
GEORGE SACCARDO DIRECTOR 1.00
Director
$0 $0 $0
PAUL UMBRELLO EXEC DIRECTOR 40.00
Officer Director
$123,926 $0 $123,926
DAN JOYCE DIRECTOR 1.00
Director
$0 $0 $0
LEONA MCKANAS DIRECTOR 1.00
Director
$0 $0 $0
AL TASSONE DIRECTOR 1.00
Director
$0 $0 $0
MATTHEW CLARKE DIRECTOR 1.00
Director
$0 $0 $0
TIM KIRBY DIRECTOR 1.00
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
2024 No data No data No data No data
2023 $724,559 $875,711 $677,024 $-151,152
2022 $666,339 $759,600 $840,962 $-93,261
2021 $670,286 $739,856 $916,038 $-69,570
2020 $659,173 $403,150 $1,005,935 $256,023
2019 $706,831 $390,656 $845,542 $316,175
2018 $336,117 $480,604 $623,639 $-144,487
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