FLORIDA THOROUGHBRED RETIREMENT AND ADOPTIVE CARE (EIN 273466408) - Form 990 Financial Analysis & Trantor Score

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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

2011

Legal Domicile

Principal Officer

KATIE SCHMIT

Tax Period

2024-01-01 to 2024-12-31

FLORIDA THOROUGHBRED RETIREMENT AND ADOPTIVE CARE, founded in 2011, is a micro nonprofit that reported $32K in total revenue in fiscal year 2024. Revenue fell 70% from the prior year — a significant decline worth monitoring. Expenses of $46K exceeded revenue, resulting in a 42% operating deficit.

Mission

FLORIDA TRAC WAS FOUNDED IN 2010 TO OFFER RETIRED SOUTH FLORIDA BASED THOROUGHBRED RACEHORSES SUCCESSFUL SECOND CAREERS THROUGH REHABILITATION AND PLACEMENT IN THEIR ADOPTIVE FOREVER HOMES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $25,551

Program Service Revenue $3,000

Investment Income $3,530

Other Revenue $51

TOTAL REVENUE $32,132

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,837

Fundraising Expenses $0

Program Expenses $35,695

Other Expenses $33,824

TOTAL EXPENSES $45,661

Year-over-Year Comparison

	2024	2023	Change
Revenue	$32,132	$106,622	-0.7%
Expenses	$45,661	$192,061	-0.8%
Net Income	$-13,529	$-85,439	-0.8%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN MONACO	OFFICER	7.00	Officer	$0	$0	$0
WENDY SLATTERY	TREASURER	7.00	Officer	$0	$0	$0
KATIE SCHMIT	EXECUTIVE DIRECTOR	50.00	Officer	$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	$32,132	$45,661	No data	$-13,529
2023	$106,622	$192,061	$22,588	$-85,439
2022	$443,862	$294,573	$104,759	$149,289
2021	$663,101	$729,711	$41,920	$-66,610
2020	$949,648	$1,286,121	$105,563	$-336,473
2019	$866,188	$1,241,708	$363,644	$-375,520
2018	$1,450,686	$1,200,013	$735,794	$250,673

FLORIDA THOROUGHBRED RETIREMENT AND ADOPTIVE CARE