Home Talent Colt Stakes Associatio… - 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

2016

Legal Domicile

Principal Officer

Elwood Woolman

Phone

3306511042

Tax Period

2023-01-01 to 2023-12-31

Home Talent Colt Stakes Association Inc, founded in 2016, is a small nonprofit in the Recreation & Sports sector that reported $287K in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year.

Mission

Home Talent Colt Stakes Association promotes and improves the sport of harness racing and unites all persons within the Home Talent Circuit interested in promoting and maintaining the integrity of the sport.

Program Service Accomplishments

Program 1

Expenses: $278,242 Revenue: $287,356

Home Talent Colt Stakes Association coordinates harness racing activities for the members who belong to the Association with the 14 member county fairs that are part of the Home Talent Circuit. This includes adopting rules and regulations under which all races will be conducted, keeping records of the horses and horsemen who participate in the racing program within the circuit and computing the amount of money to be distributed among the horsemen.

Program 2

Expenses: $2,795

Home Talent Colt Stakes Association grants an annual scholarship to students active in Ohio harness racing at the county fairs included in the approved circuits. Students must complete an application process which includes writing an essay and obtaining letters of recommendation from persons involved in harness racing as an official or fair board member. The recipient is also required to show evidence of enrollment in a post secondary institution to receive the scholarship.

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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 $0

Program Service Revenue $287,356

Investment Income $0

Other Revenue $0

TOTAL REVENUE $287,356

Expense Breakdown

Grants Paid $2,795

Salaries & Benefits $6,000

Fundraising Expenses $0

Program Expenses $281,037

Other Expenses $276,120

TOTAL EXPENSES $284,915

Year-over-Year Comparison

	2023	2022	Change
Revenue	$287,356	$308,715	-0.1%
Expenses	$284,915	$310,062	-0.1%
Net Income	$2,441	$-1,347	-2.8%

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

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

$6,000

Total Directors