MEADOWS STANDARDBRED OWNERS ASSOCI… - 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

1977

Legal Domicile

Principal Officer

RICHARD D GILLOCK

Phone

7242283644

Tax Period

2023-01-01 to 2023-12-31

MEADOWS STANDARDBRED OWNERS ASSOCIATION, founded in 1977, is a community nonprofit that reported $9.0M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $8.0M left a modest 11% surplus.

Mission

TO PROMOTE THE SPORT OF HARNESS RACING AND THE BEST INTEREST OF ITS MEMBERS AS HORSEMEN AND NEGOTIATION OF PROPER CONTRACTS WITH LICENSED RACING ASSOCIATIONS.

Program Service Accomplishments

Program 1

Expenses: $7,869,779 Revenue: $8,854,918

PROMOTED THE BEST INTEREST OF 521 FULL AND 92 ASSOCIATE MEMBERS INCLUDING NEGOTIATIONS OF CONTRACTS WITH LICENSED HARNESS RACING ASSOC.; PROMOTED HARNESS RACING WITH GENERAL PUBLIC AND MAINTAINED...

PROMOTED THE BEST INTEREST OF 521 FULL AND 92 ASSOCIATE MEMBERS INCLUDING NEGOTIATIONS OF CONTRACTS WITH LICENSED HARNESS RACING ASSOC.; PROMOTED HARNESS RACING WITH GENERAL PUBLIC AND MAINTAINED COMMUNICATIONS BETWEEN HORSEMEN'S ASSOC. AND THE RACING ASSOCIATIONS. ALSO, THE ASSOCIATION ACTS AS A FIDUCIARY IN THE COLLECTION AND DISPERSAL OF GAMING FUNDS FROM THE PENNSYLVANIA RACEHORSE DEVELOPMENT FUND WHICH MUST BE USED FOR HORSE RACING PURSES AND PENSION AND HEALTH BENEFITS FOR HORSEMEN AND HORSEWOMEN.

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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 (2023)

Revenue Breakdown

Contributions & Grants $106,876

Program Service Revenue $8,854,918

Investment Income $7,832

Other Revenue $2,198

TOTAL REVENUE $8,971,824

Expense Breakdown

Grants Paid $47,750

Salaries & Benefits $296,605

Fundraising Expenses $0

Program Expenses $7,869,779

Other Expenses $7,625,423

TOTAL EXPENSES $7,969,778

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,971,824	$10,175,476	-0.1%
Expenses	$7,969,778	$10,660,396	-0.3%
Net Income	$1,002,046	$-484,920	-3.1%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIMOTHY BETTS	DIRECTOR	1.00	Director	$0	$0	$0
NICK CATALANO	TREASURER	5.00	Officer Director	$0	$0	$0
LISA DUNN	VICE PRESIDE	5.00	Officer Director	$0	$0	$0
RICHARD D GILLOCK	PRESIDENT	5.00	Officer Director	$0	$0	$0
GARY JOHNSTON	DIRECTOR	1.00	Director	$0	$0	$0
JASON PETRI	DIRECTOR	1.00	Director	$0	$0	$0
JACK PIATT	DIRECTOR	1.00	Director	$0	$0	$0
TIM TWADDLE	SECRETARY	5.00	Officer Director	$0	$0	$0
STUART WILLIAMS	DIRECTOR	1.00	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	$8,971,824	$7,969,778	$4,064,419	$1,002,046
2022	$10,175,476	$10,660,396	$2,771,779	$-484,920
2021	$10,372,771	$13,557,917	$2,546,597	$-3,185,146
2020	$8,935,042	$12,943,206	$4,668,434	$-4,008,164
2019	$11,330,502	$9,444,022	$11,104,107	$1,886,480
2018	$12,375,016	$9,637,909	$10,008,921	$2,737,107

MEADOWS STANDARDBRED OWNERS ASSOCIATION