PA THOROUGHBRED HORSEMEN'S ASSOC INC

EIN: 232694644 Community Improvement

BENSALEM, PA

Total Revenue
$2,308,839
Total Expenses
$1,710,488
Total Assets
$10,281,629
Net Assets
$1,440,132
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1992
Legal Domicile
PA
Principal Officer
JEFFREY A MATTY JR
Phone
2156382012
Tax Period
2023-01-01 to 2023-12-31

PA THOROUGHBRED HORSEMEN'S ASSOC INC, founded in 1992, is a community nonprofit in the Community Improvement sector that reported $2.3M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $598K, a strong 26% operating margin.

Mission

WORKS HARD TO PROTECT AND PROVIDE FOR THE PARX RACING HORSEMEN THROUGH THE GUARANTEE OF LIVE RACING, HORSEMEN'S RIGHTS, HEALTH CARE AND PENSION FOR HORSEMEN, BENEVOLENCE PROGRAMS, AND MORE.

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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 $1,955,073
Investment Income $353,766
Other Revenue $0
TOTAL REVENUE $2,308,839

Expense Breakdown

Grants Paid $0
Salaries & Benefits $449,372
Fundraising Expenses $0
Program Expenses $1,590,383
Other Expenses $1,261,116
TOTAL EXPENSES $1,710,488

Year-over-Year Comparison

2023 2022 Change
Revenue $2,308,839 $1,879,490 +0.2%
Expenses $1,710,488 $2,226,487 -0.2%
Net Income $598,351 $-346,997 -2.7%
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

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

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Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
5
Employees
7
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
$291,683
Total Directors
11
$419,919
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFFREY A MATTY JR EXECUTIVE DIRECTOR/SECRETA 40.00
Officer Director
$243,528 $24,198 $267,726
EDWARD COLETTI JR DIRECTOR 3.00
Director
$0 $34,842 $34,842
JOHN C SERVIS DIRECTOR 3.00
Director
$0 $34,146 $34,146
KATHLEEN DEMASI VICE PRESIDENT 3.00
Officer Director
$0 $23,957 $23,957
JACK ARMSTRONG DIRECTOR 3.00
Director
$0 $0 $0
CHARLES ASENSIO TREASURER 3.00
Officer Director
$0 $0 $0
SCOTT LAKE DIRECTOR 3.00
Director
$0 $32,203 $32,203
ROBERT HUTT PRESIDENT 5.00
Officer Director
$0 $0 $0
ROBERT E REID JR DIRECTOR 3.00
Director
$0 $27,045 $27,045
JOHN FANELLI DIRECTOR 3.00
Director
$0 $0 $0
JOHN JULIA DIRECTOR 3.00
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 $2,308,839 $1,710,488 $10,281,629 $598,351
2022 $1,879,490 $2,226,487 $9,126,323 $-346,997
2021 $1,943,738 $1,798,623 $10,280,976 $145,115
2020 $1,680,106 $1,866,696 $5,660,892 $-186,590
2019 $2,413,756 $2,330,058 $8,499,835 $83,698
2019 $2,696,189 $2,495,971 $8,656,870 $200,218
2018 $2,363,043 $2,460,771 $7,315,265 $-97,728
2018 $1,554,756 $1,746,625 $6,389,337 $-191,869
2017 $2,114,865 $2,057,448 $6,885,331 $57,417
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