NATIONAL THOROUGHBRED RACING ASSOCIATION INC

EIN: 133985050

LEXINGTON, KY

Total Revenue
$11,696,083
Total Expenses
$13,666,564
Total Assets
$18,554,324
Net Assets
$12,267,011
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
DE
Principal Officer
KEITH CHAMBLIN
Phone
8592456872
Tax Period
2024-04-01 to 2025-03-31

NATIONAL THOROUGHBRED RACING ASSOCIATION INC, founded in 1998, is a mid-sized nonprofit that reported $11.7M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $13.7M exceeded revenue, resulting in a 17% operating deficit.

Mission

THE NTRA IS A BROADLY DEFINED MEMBERSHIP ASSOCIATION THAT IS CHARGED WITH INCREASING THE POPULARITY, WELFARE AND INTEGRITY OF THOROUGHBRED RACING.

Program Service Accomplishments

Program 1

THE NTRA'S FEDERAL LEGISLATIVE ADVOCACY TEAM ADDRESSES ISSUES THAT HAVE A DIRECT AND MATERIAL IMPACT ON THOROUGHBRED INDUSTRY PARTICIPANTS AND THEIR BUSINESS ACTIVITIES, WHETHER THOSE ACTIVITIES...

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THE NTRA'S FEDERAL LEGISLATIVE ADVOCACY TEAM ADDRESSES ISSUES THAT HAVE A DIRECT AND MATERIAL IMPACT ON THOROUGHBRED INDUSTRY PARTICIPANTS AND THEIR BUSINESS ACTIVITIES, WHETHER THOSE ACTIVITIES RELATE TO RACING, BREEDING OR PARI-MUTUEL WAGERING.THE LEGISLATIVE TEAM HAS SECURED PASSAGE OF LEGISLATION TO LEGALIZE ONLINE PARI-MUTUEL WAGERING UNDER THE INTERSTATE HORSERACING ACT. THE TEAM FOR MORE THAN A DECADE ADVOCATED FOR AND EVENTUALLY SECURED CHANGES TO THE TAX CODE THAT MODERNIZED IRS REGULATIONS RELATING TO THE REPORTING AND WITHHOLDING OF PARI-MUTUEL WINNINGS. THE TEAM WORKS ON AN ONGOING BASIS TO SECURE FAVORABLE TAX REFORM DESIGNED TO STIMULATE INVESTMENT IN THOROUGHBRED BLOODSTOCK. OTHER FEDERAL LEGISLATIVE TARGETS INCLUDE IMMIGRATION AND SPORTS BETTING.

Program 2

THE NTRA REACHES ITS TWO PRIMARY CONSTITUENCIES-RACING CUSTOMERS AND INDUSTRY STAKEHOLDERSTHROUGH A COMBINATION OF PAID, EARNED AND SOCIAL MEDIA.THE NTRA'S MOST POPULAR PROMOTION IS THE NATIONAL...

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THE NTRA REACHES ITS TWO PRIMARY CONSTITUENCIES-RACING CUSTOMERS AND INDUSTRY STAKEHOLDERSTHROUGH A COMBINATION OF PAID, EARNED AND SOCIAL MEDIA.THE NTRA'S MOST POPULAR PROMOTION IS THE NATIONAL HORSEPLAYERS CHAMPIONSHIP (NHC), WITH PRIZE MONEY AND AWARDS TOTALING MORE THAN $3.5 MILLION. THE NHC IS HELD EACH FEBRUARY IN LAS VEGAS, NV.THE NTRA OWNS AND PRODUCES THE ECLIPSE AWARDS, WHICH ANNUALLY RECOGNIZES HUMANS AND EQUINES FOR THEIR CHAMPIONSHIP PERFORMANCES IN NORTH AMERICA.BACKED BY 55 RACETRACKS, ALL MAJOR HORSEMEN'S GROUPS, AND MANY OTHER INDUSTRY STAKEHOLDER ORGANIZATIONS, THE NTRA IN 2009 FORMED THE SAFETY AND INTEGRITY ALLIANCE TO ESTABLISH AND IMPLEMENT NATIONAL STANDARDS AND REFORMS RELATING TO SAFETY, INTEGRITY AND THE WELFARE OF THE THOROUGHBRED.THROUGH A CODE OF STANDARDS AND AN ACCREDITATION PROCESS, THE ALLIANCE INSTITUTES AN EVOLVING SET OF STANDARDS RELATED TO THE FOLLOWING AREAS: 1) INJURY REPORTING AND PREVENTION; 2) A SAFER RACING ENVIRONMENT; 3) UNIFORM EQUINE MEDICATION, TESTING AND PENALTIES; 4) JOCKEY SAFETY, 5) THOROUGHBRED AFTERCARE AND 6) WAGERING INTEGRITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $3,885,970
Program Service Revenue $6,603,172
Investment Income $530,704
Other Revenue $676,237
TOTAL REVENUE $11,696,083

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,934,338
Fundraising Expenses $0
Other Expenses $11,732,226
TOTAL EXPENSES $13,666,564

Year-over-Year Comparison

2024 2023 Change
Revenue $11,696,083 $9,207,699 +0.3%
Expenses $13,666,564 $9,931,515 +0.4%
Net Income $-1,970,481 $-723,816 +1.7%
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

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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
20
Independent Members
17
Employees
13
Volunteers
17

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
3
$837,469
Total Directors
20
$837,469
Key Employees
0
$0
Highest Compensated
8
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THOMAS ROONEY CEO 50.00
Officer Director
$381,587 $16,168 $397,755
KEITH CHAMBLIN COO 50.00
Officer Director
$300,746 $12,717 $313,463
TINA BOND DIRECTOR 5.00
Director
$0 $0 $0
DAVID O'FARRELL DIRECTOR 5.00
Director
$0 $0 $0
SHANNON ARVIN BISHOP DIRECTOR 5.00
Director
$0 $0 $0
DAVID O'ROURKE DIRECTOR 5.00
Director
$0 $0 $0
LOU CELLA DIRECTOR 5.00
Director
$0 $0 $0
MIKE ROGERS DIRECTOR 5.00
Director
$0 $0 $0
DENNIS DRAZIN DIRECTOR 5.00
Director
$0 $0 $0
JOSH RUBINSTEIN DIRECTOR 5.00
Director
$0 $0 $0
DREW FLEMING DIRECTOR 5.00
Director
$0 $0 $0
JUDY WAGNER DIRECTOR 5.00
Director
$0 $0 $0
JIM GAGLIANO DIRECTOR 5.00
Director
$0 $0 $0
JOE WILSON DIRECTOR 5.00
Director
$0 $0 $0
MIKE ZIEGLER DIRECTOR 5.00
Director
$0 $0 $0
GEORGANNA LILLY TREASURER 50.00
Officer Director
$121,730 $4,521 $126,251
ANDREW MOORE DIRECTOR 5.00
Director
$0 $0 $0
BILL NADER DIRECTOR 5.00
Director
$0 $0 $0
BILL KNAUF DIRECTOR 5.00
Director
$0 $0 $0
CHRIS MCERLEAN DIRECTOR 5.00
Director
$0 $0 $0
FREDERICK WIDAMAN SENIOR VP OF NTRA ADVANTAG 50.00
Highest
$0 $8,319 $189,942
MEGHAN RODGERS SENIOR VP OF COMMUNICATION 50.00
Highest
$196,281 $5,167 $201,448
STEPHEN DRISKILL SR SALES DIRECTOR NTRA ADV 50.00
Highest
$0 $6,237 $186,816
MICHELE RAVENCRAFT SENIOR VP OF EVENTS 50.00
Highest
$137,697 $5,306 $143,003
JORDAN BONFITTO DIRECTOR OF GOVERNMENT AFF 50.00
Highest
$139,514 $4,250 $143,764
TANNIS PRIMM SR SALES MANAGER NTRA ADVA 50.00
Highest
$0 $9,462 $140,509
JOSEPH BACIGALUPO SR VICE PRESIDENT OF EXTERNAL AFFAIRS 50.00
Highest
$125,521 $7,918 $133,439
DAVID FITE VICE PRESIDENT OF IT AND PHYSICAL SECURITY 50.00
Highest
$121,098 $15,106 $136,204
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 $11,696,083 $13,666,564 $18,554,324 $-1,970,481
2024 $9,207,699 $9,931,515 $18,145,577 $-723,816
2023 $9,155,770 $8,891,496 $17,690,078 $264,274
2022 $10,577,962 $10,886,335 $16,910,608 $-308,373
2021 $3,638,139 $4,317,067 $20,584,241 $-678,928
2020 $7,542,489 $7,526,779 $17,843,159 $15,710
2019 $7,409,546 $7,137,173 $17,333,381 $272,373
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