HARNESS RACING MUSEUM AND HALL OF FAME

EIN: 141368198 501(c)(3) Arts, Culture & Humanities

GOSHEN, NY

Total Revenue
$1,685,299
Total Expenses
$1,266,443
Total Assets
$9,491,621
Net Assets
$9,108,517
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1951
Legal Domicile
NY
Principal Officer
MAX J HEMPT
Phone
8452946330
Tax Period
2024-05-01 to 2025-04-30

HARNESS RACING MUSEUM AND HALL OF FAME, founded in 1951, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.7M in total revenue in fiscal year 2024. Revenue surged 20% from the prior year, signaling strong growth momentum. The organization ran a surplus of $419K, a strong 25% operating margin.

Mission

THE HARNESS RACING MUSEUM & HALL OF FAME IS DEDICATED TO COMPREHENSIVE, ACTIVE AND AUTHORITATIVE SUPPORT AND PROMOTION OF THE STANDARDBRED RACING THROUGH DOCUMENTATION AND PRESERVATION OF THE HISTORY AND TRADITIONS OF THIS AMERICAN-BORN SPORT. IT WILL ALSO CONTINUE TO AUGMENT EXISTING COLLECTIONS AND PROVIDE EXTENSIVE RESEARCH, EDUCATIONAL PROGRAMMING AND EXCITING EXHIBITRY TO EXPAND HARNESS RACING'S INTEREST APPEAL, BOTH NATIONALLY AND INTERNATIONALLY, TO ASSURE AN INFORMED AUDIENCE AND A SUCCESSFUL FUTURE.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Sign In — Free (10 views/day)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $789,477
Program Service Revenue $126,539
Investment Income $730,299
Other Revenue $38,984
TOTAL REVENUE $1,685,299

Expense Breakdown

Grants Paid $0
Salaries & Benefits $786,157
Fundraising Expenses $103,697
Program Expenses $908,836
Other Expenses $480,286
TOTAL EXPENSES $1,266,443

Year-over-Year Comparison

2024 2023 Change
Revenue $1,685,299 $1,399,590 +0.2%
Expenses $1,266,443 $1,172,288 +0.1%
Net Income $418,856 $227,302 +0.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Sign In

Governance

Voting Members
25
Independent Members
25
Employees
20
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
5
$156,732
Total Directors
24
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MAX J HEMPT PRESIDENT 5.00
Officer Director
$0 $0 $0
SETH ROSENFELD TREASURER 5.00
Officer Director
$0 $0 $0
STEPHEN E OLDFORD VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
KATHY PARKER SECRETARY 1.00
Officer Director
$0 $0 $0
FRANK ANTONACCI TRUSTEE 1.00
Director
$0 $0 $0
ROBERT M BONI TRUSTEE 1.00
Director
$0 $0 $0
ELIZABETH CALDWELL TRUSTEE 1.00
Director
$0 $0 $0
JOHN D CAMPBELL TRUSTEE 1.00
Director
$0 $0 $0
THOMAS A CHARTERS TRUSTEE 1.00
Director
$0 $0 $0
LAWRENCE S DEVAN TRUSTEE 1.00
Director
$0 $0 $0
JOHN M EGLOFF DVM TRUSTEE 1.00
Director
$0 $0 $0
JAY E FARRAR TRUSTEE 1.00
Director
$0 $0 $0
ELBRIDGE T GERRY JR TRUSTEE 1.00
Director
$0 $0 $0
THEODORE GEWERTZ TRUSTEE 1.00
Director
$0 $0 $0
ROGER E HUSTON TRUSTEE 1.00
Director
$0 $0 $0
STEVE JONES TRUSTEE 1.00
Director
$0 $0 $0
MARVIN KATZ TRUSTEE 1.00
Director
$0 $0 $0
KARYN MALINOWSKI TRUSTEE 1.00
Director
$0 $0 $0
DAVID H MCDUFFEE TRUSTEE 1.00
Director
$0 $0 $0
DAVID P REID TRUSTEE 1.00
Director
$0 $0 $0
JAMES W SIMPSON TRUSTEE 1.00
Director
$0 $0 $0
MITCHEL SKOLNICK TRUSTEE 1.00
Director
$0 $0 $0
JIMMY W TAKTER TRUSTEE 1.00
Director
$0 $0 $0
RUSSELL C WILLIAMS TRUSTEE 1.00
Director
$0 $0 $0
JANET T TERHUNE DIRECTOR 40.00
Officer
$126,232 $30,500 $156,732
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 $1,685,299 $1,266,443 $9,491,621 $418,856
2024 $1,399,590 $1,172,288 $9,028,157 $227,302
2023 $1,027,321 $1,203,866 $8,452,991 $-176,545
2022 $1,869,206 $995,910 $8,348,787 $873,296
2021 $1,122,521 $1,067,316 $9,049,795 $55,205
2020 $1,206,732 $1,229,024 $7,297,601 $-22,292
2019 $1,059,661 $1,142,243 $7,851,015 $-82,582
Explore More Nonprofits
Top 100 Nonprofits in New York Largest U.S. Nonprofits Best Rated Nonprofits Most Efficient Nonprofits

Compare HARNESS RACING MUSEUM AND HALL OF FAME with other nonprofits in New York and across the country.