SOUTHERN TIER HARNESS HORSEMEN'S ASSOCIATION INC (EIN 342061791) - 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

2006

Legal Domicile

Principal Officer

RANDY TAFT

Phone

6077657168

Tax Period

2023-01-01 to 2023-12-31

SOUTHERN TIER HARNESS HORSEMEN'S ASSOCIATION INC, founded in 2006, is a community nonprofit in the Community Improvement sector that reported $1.4M in total revenue in fiscal year 2023. Revenue surged 127% from the prior year, signaling strong growth momentum. The organization ran a surplus of $480K, a strong 35% operating margin.

Mission

TO PROMOTE THE WELFARE OF HARNESS RACING IN NEW YORK, AND IN DOING SO PROMOTE THE WELFARE OF OUR MEMBERS.

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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 $710,467

Program Service Revenue $222,361

Investment Income $1,140

Other Revenue $425,327

TOTAL REVENUE $1,359,295

Expense Breakdown

Grants Paid $0

Salaries & Benefits $151,744

Fundraising Expenses $0

Other Expenses $486,348

TOTAL EXPENSES $878,842

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,359,295	$598,169	+1.3%
Expenses	$878,842	$592,284	+0.5%
Net Income	$480,453	$5,885	+80.6%

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

$18,250

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GUY HOWARD	TREASURER	10.00	Officer	$18,250	$0	$18,250
COREY BRADEN	DIRECTOR	5.00	Director	$0	$0	$0
DALE GILMOUR	DIRECTOR	5.00	Director	$0	$0	$0
ROB HARMON	DIRECTOR	5.00	Director	$0	$0	$0
BRIAN SIGNOR	DIRECTOR	5.00	Director	$0	$0	$0
MICHAEL SINCLAIR	VICE PRESIDE	10.00	Director	$0	$0	$0
JOHN HALLETT	DIRECTOR	5.00	Officer	$0	$0	$0
LOURIE POULIN	SECRETARY	5.00	Officer	$0	$0	$0
RANDY TAFT	PRESIDENT	10.00	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
2023	$1,359,295	$878,842	$794,349	$480,453
2022	$598,169	$592,284	$313,895	$5,885
2021	$562,928	$526,022	$307,293	$36,906
2020	$374,240	$392,667	$270,387	$-18,427
2019	$549,857	$559,644	$288,814	$-9,787
2018	$575,921	$541,324	$298,601	$34,597

SOUTHERN TIER HARNESS HORSEMEN'S ASSOCIATION INC