INDIANA THOROUGHBRED OWNERS & BREEDERS ASSOCIATION INC (EIN 351864469) - 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

2002

Legal Domicile

Principal Officer

MICHAEL KLINGLER

Phone

3173718268

Tax Period

2024-01-01 to 2024-12-31

INDIANA THOROUGHBRED OWNERS & BREEDERS ASSOCIATION INC, founded in 2002, is a small nonprofit that reported $257K in total revenue in fiscal year 2024. Expenses of $296K exceeded revenue, resulting in a 15% operating deficit.

Mission

PROMOTION OF OWNERSHIP, BREEDING AND RACING OF THOROUGHBREDS IN INDIANA.

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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 $4,450

Program Service Revenue $252,891

Investment Income $0

Other Revenue $0

TOTAL REVENUE $257,341

Expense Breakdown

Grants Paid $0

Salaries & Benefits $34,217

Fundraising Expenses $0

Other Expenses $261,433

TOTAL EXPENSES $295,650

Year-over-Year Comparison

	2024	2023	Change
Revenue	$257,341	$256,672	+0.0%
Expenses	$295,650	$271,963	+0.1%
Net Income	$-38,309	$-15,291	+1.5%

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

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
DUANE SWINGLEY	2ND VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
BRUCE MURPHY	BOARD MEMBER	1.00	Director	$0	$0	$0
AMY ELLIOTT	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHELLE ELLIOTT	BOARD MEMBER	1.00	Director	$0	$0	$0
PAT MCGHEE	SECRETARY	1.00	Officer Director	$0	$0	$0
JERRI HARMON	1ST VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JASON KAYLOR	BOARD MEMBER	1.00	Director	$0	$0	$0
MATT KWIATKOWSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
DAN SPEARS	PRESIDENT	1.00	Officer Director	$0	$0	$0
MIKE KLINGLER	TREASURER	1.00	Officer Director	$0	$0	$0
RYAN CAMPBELL	BOARD MEMBER	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	$257,341	$295,650	$319,141	$-38,309
2023	$256,672	$271,963	$356,915	$-15,291
2022	$345,743	$319,726	$372,212	$26,017
2021	$302,194	$261,735	$345,706	$40,459
2020	$254,965	$262,353	$309,858	$-7,388
2019	$201,755	$206,585	$316,364	$-4,830
2018	$241,511	$231,222	$321,763	$10,289

INDIANA THOROUGHBRED OWNERS & BREEDERS ASSOCIATION INC