THOROUGHBRED RETIREMENT FOUNDATION… - Form 990 Financial Data

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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

1982

Legal Domicile

Principal Officer

MAGGIE SWEET

Phone

5182260028

Tax Period

2025-01-01 to 2025-12-31

THOROUGHBRED RETIREMENT FOUNDATION INC, founded in 1982, is a community nonprofit in the Animal-Related sector that reported $2.5M in total revenue in fiscal year 2025. Revenue fell 50% from the prior year — a significant decline worth monitoring. Expenses of $3.0M exceeded revenue, resulting in a 23% operating deficit.

Mission

WE BELIEVE DIGNITY AND COMPASSION ARE THE FOUNDATION OF LIVES WELL LIVED. WE PROVIDE A LIFETIME SANCTUARY FOR THOROUGHBREDS AFTER THEIR RACING CAREERS AS WELL AS OPPORTUNITIES FOR PEOPLE WISHING TO IMPROVE THEIR WELL-BEING THROUGH THE UNDENIABLE HEALING POWER OF HORSES.

Program Service Accomplishments

Program 1

Expenses: $2,125,344 Revenue: $97,431

TRF SECOND CHANCES PROGRAM, A VOCATIONAL TRAINING PROGRAM IN EQUINE CARE AND MANAGEMENT. EARLY IN THE THOROUGHBRED RETIREMENT FOUNDATION'S HISTORY MONIQUE S. KOEHLER, FOUNDER AND CHAIRMAN OF THE...

TRF SECOND CHANCES PROGRAM, A VOCATIONAL TRAINING PROGRAM IN EQUINE CARE AND MANAGEMENT. EARLY IN THE THOROUGHBRED RETIREMENT FOUNDATION'S HISTORY MONIQUE S. KOEHLER, FOUNDER AND CHAIRMAN OF THE BOARD, NEGOTIATED A MILESTONE AGREEMENT WITH THE STATE OF NEW YORK DEPARTMENT OF CORRECTIONAL SERVICES. IN EXCHANGE FOR LAND USE AND LABOR AT THE STATE'S WALLKILL CORRECTIONAL FACILITY, THE THOROUGHBRED RETIREMENT FOUNDATION WOULD DESIGN, STAFF AND MAINTAIN A VOCATIONAL TRAINING PROGRAM IN EQUINE CARE AND MANAGEMENT FOR INCARCERATED INDIVIDUALS. THIS UNIQUE PROGRAM HAS BEEN REPLICATED IN CALIFORNIA, KENTUCKY, FLORIDA, SOUTH CAROLINA, AND MARYLAND AND OFFERS SECOND CHANCES FOR HORSES AND HUMANS. THE TRF ALSO OFFERS LIFETIME SANCTUARY FOR HORSES THAT ARE NOT INCLUDED IN THE SECOND CHANCES PROGRAM.

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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 $2,000,740

Program Service Revenue $53,709

Investment Income $196,441

Other Revenue $206,714

TOTAL REVENUE $2,457,604

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,005,729

Fundraising Expenses $431,074

Program Expenses $2,125,344

Other Expenses $2,007,475

TOTAL EXPENSES $3,013,204

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,457,604	$4,867,011	-0.5%
Expenses	$3,013,204	$2,559,168	+0.2%
Net Income	$-555,600	$2,307,843	-1.2%

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

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

$50,136

Total Directors

$127,525

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MAGGIE SWEET	EXECUTIVE DIRECTOR	40.00	Director	$127,525	$0	$127,525
PATRICK MACKAY	CHAIRMAN	1.00	Officer Director	$0	$0	$0
PAUL SAYLOR	TREASURER	1.00	Officer Director	$0	$0	$0
SARAH STEIN	SECRETARY	1.00	Officer Director	$0	$0	$0
DARYL TROPEA	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
STEPHANIE BRENNAN	DIRECTOR	1.00	Director	$0	$0	$0
KELSEY MARSHALL HUGHES	DIRECTOR	1.00	Director	$0	$0	$0
KATIE LAMONICA	DIRECTOR	1.00	Director	$0	$0	$0
STOWE BURKE	DIRECTOR	1.00	Director	$0	$0	$0
ANITA MOTION	DIRECTOR	1.00	Director	$0	$0	$0
MAGGIE WOLFENDALE	DIRECTOR	1.00	Director	$0	$0	$0
KATIE DAVIS MCCARTHY	DIRECTOR	1.00	Director	$0	$0	$0
CINDY MCDONALD	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE KEATING	DIRECTOR	1.00	Director	$0	$0	$0
JOHN CANNIE TERMED 3142025	DIRECTOR	1.00	Director	$0	$0	$0
PAT STICKENY	CFO	15.00	Officer	$50,136	$0	$50,136

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	$2,457,604	$3,013,204	$14,535,555	$-555,600
2024	$4,867,011	$2,559,168	$14,342,693	$2,307,843
2023	$2,962,392	$2,401,434	$11,563,679	$560,958
2022	$1,901,253	$2,250,863	$10,103,014	$-349,610
2021	$2,162,805	$1,979,241	$11,676,942	$183,564
2020	$2,128,699	$1,897,068	$9,935,394	$231,631
2019	$1,848,890	$2,364,085	$10,077,398	$-515,195
2018	$2,468,420	$2,654,553	$9,557,998	$-186,133

THOROUGHBRED RETIREMENT FOUNDATION INC