Thoroughbred Racing Associations of North America Inc

EIN: 131379483

Elkton, MD

Total Revenue
$302,550
Total Expenses
$312,052
Total Assets
$785,252
Net Assets
$738,870
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Financial Trends

Organization Details

Formation Year
1942
Legal Domicile
NY
Principal Officer
Henry Zeitlin
Phone
4103982261
Tax Period
2025-01-01 to 2025-12-31

Thoroughbred Racing Associations of North America Inc, founded in 1942, is a small nonprofit that reported $303K in total revenue in fiscal year 2025. Net assets of $739K represent 29 months of operating reserves.

Mission

Advancement of the thoroughbred racing industry including playing a leading role in the establishment of many programs beneficial to the racing industry. The Organization serves as a strong and unified voice of the thoroughbred racetrack operators, places the maximum emphasis on the integrity of racing, and serves as a clearing house for information, reports, statistical data, ideas, promotions and problem areas. The Organization creates various programs, activities, ventures, and enterprises related to thoroughbred racing.

Program Service Accomplishments

Program 1

Advancement of the thoroughbred racing industry through services to 37 member tracks.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $275,300
Investment Income $9,382
Other Revenue $17,868
TOTAL REVENUE $302,550

Expense Breakdown

Grants Paid $0
Salaries & Benefits $121,930
Fundraising Expenses $0
Other Expenses $190,122
TOTAL EXPENSES $312,052

Year-over-Year Comparison

2025 2024 Change
Revenue $302,550 $297,786 +0.0%
Expenses $312,052 $325,332 0.0%
Net Income $-9,502 $-27,546 -0.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
40
Independent Members
39
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
$246,240
Total Directors
40
$246,240
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Joe Wilson President 5.00
Officer Director
$0 $0 $0
Henry Zeitlin Executive Vice President 40.00
Officer Director
$0 $42,240 $246,240
Josh Rubinstein Vice President/Secretary 5.00
Officer Director
$0 $0 $0
Peter Berube Vice President/Treasurer 5.00
Officer Director
$0 $0 $0
Christopher McErlean Director 5.00
Director
$0 $0 $0
Mike Anderson Director 5.00
Director
$0 $0 $0
Mike Rogers Director 5.00
Director
$0 $0 $0
Randall Sampson Director 5.00
Director
$0 $0 $0
Brian Hansberry Director 5.00
Director
$0 $0 $0
Shannon Arvin Director 5.00
Director
$0 $0 $0
Timothy Carey Director 5.00
Director
$0 $0 $0
Matt Vance Director 5.00
Director
$0 $0 $0
Lori Thomas Director 5.00
Director
$0 $0 $0
Patrick Ellsworth Director 5.00
Director
$0 $0 $0
Dennis Drazin Director 5.00
Director
$0 $0 $0
Guy Torsilieri Director 5.00
Director
$0 $0 $0
Louis Cella Director 5.00
Director
$0 $0 $0
Robert Green Director 5.00
Director
$0 $0 $0
Derron Heldt Director 5.00
Director
$0 $0 $0
Stella Thayer Director 5.00
Director
$0 $0 $0
Rick Arthur Director 5.00
Director
$0 $0 $0
Chris Kotulak Director 5.00
Director
$0 $0 $0
Ron Winchell Director 5.00
Director
$0 $0 $0
David O'Rourke Director 5.00
Director
$0 $0 $0
Dan Bork Director 5.00
Director
$0 $0 $0
Jason Boulet Director 5.00
Director
$0 $0 $0
Terry Glebocki Director 5.00
Director
$0 $0 $0
Brian Pettigrew Director 5.00
Director
$0 $0 $0
Bill Ford Director 5.00
Director
$0 $0 $0
Merlinda Fleming Director 5.00
Director
$0 $0 $0
Roxanne Tanner Director 5.00
Director
$0 $0 $0
Hugh Drexler Director 5.00
Director
$0 $0 $0
Bill Knauf Director 5.00
Director
$0 $0 $0
Scott Lishia Director 5.00
Director
$0 $0 $0
Gary Palmisano Jr Director 5.00
Director
$0 $0 $0
Dawn Lupul Director 5.00
Director
$0 $0 $0
Jennifer Sokol Director 5.00
Director
$0 $0 $0
Elizabeth Rogers Director 5.00
Director
$0 $0 $0
Eric Johnston Director 5.00
Director
$0 $0 $0
Chip Bach Director 5.00
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
2025 $302,550 $312,052 $785,252 $-9,502
2024 $297,786 $325,332 $761,422 $-27,546
2023 $296,225 $317,789 $780,039 $-21,564
2022 $295,308 $311,607 $816,534 $-16,299
2021 $287,800 $306,607 $844,490 $-18,807
2020 $297,903 $303,670 $853,754 $-5,767
2019 $284,095 $321,049 $1,181,943 $-36,954
2018 $354,500 $388,579 $1,095,117 $-34,079
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