ILLINOIS HARNESS HORSEMEN'S ASSOCIATION (EIN 362326042) - 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

1951

Legal Domicile

Principal Officer

AL BEALS

Phone

6303230808

Tax Period

2024-01-01 to 2024-12-31

ILLINOIS HARNESS HORSEMEN'S ASSOCIATION, founded in 1951, is a small nonprofit in the Community Improvement sector that reported $646K in total revenue in fiscal year 2024. Expenses of $713K exceeded revenue, resulting in a 10% operating deficit.

Mission

TRADE ASSOCIATION

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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 $5,000

Program Service Revenue $631,360

Investment Income $8,039

Other Revenue $2,000

TOTAL REVENUE $646,399

Expense Breakdown

Grants Paid $1,713

Salaries & Benefits $170,597

Fundraising Expenses $0

Other Expenses $540,602

TOTAL EXPENSES $712,912

Year-over-Year Comparison

	2024	2023	Change
Revenue	$646,399	$655,155	0.0%
Expenses	$712,912	$607,503	+0.2%
Net Income	$-66,513	$47,652	-2.4%

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

$139,680

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFF DAVIS	DIRECTOR/PRESIDENT	5.00	Officer Director	$0	$0	$0
CASEY LEONARD	DIRECTOR/1ST VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
CRAIG GRUMMEL	DIRECTOR/2ND VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
AL BEALS	DIRECTOR/TREASURER	5.00	Officer Director	$0	$0	$0
DAVID BRINK	DIRECTOR/ASS'T TREASURER	5.00	Officer Director	$0	$0	$0
CLARK FAIRLEY	DIRECTOR/SECRETARY	5.00	Officer Director	$0	$0	$0
MERV CHUPP	DIRECTOR	1.00	Director	$0	$0	$0
MARTY ENGEL	DIRECTOR	1.00	Director	$0	$0	$0
JUAN FRANCO	DIRECTOR	1.00	Director	$0	$0	$0
GERALD HANSEN	DIRECTOR	1.00	Director	$0	$0	$0
KYLE HUSTED	DIRECTOR	1.00	Director	$0	$0	$0
JEFF JONES	DIRECTOR	1.00	Director	$0	$0	$0
GARY RATH	DIRECTOR-PAST	1.00	Director	$0	$0	$0
STEVE SEARLE	DIRECTOR	1.00	Director	$0	$0	$0
ED TEEFEY	DIRECTOR	1.00	Director	$0	$0	$0
HOSEA WILLIAMS	DIRECTOR-NEW	1.00	Director	$0	$0	$0
TONY SOMONE	EXECUTIVE DIRECTOR	40.00	Officer	$107,000	$32,680	$139,680

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	$646,399	$712,912	$608,308	$-66,513
2023	$655,155	$607,503	$692,796	$47,652
2022	$641,844	$575,446	$587,695	$66,398
2021	$641,249	$559,263	$473,505	$81,986
2020	$675,146	$599,331	$440,856	$75,815
2019	$225,967	$238,965	$349,548	$-12,998

ILLINOIS HARNESS HORSEMEN'S ASSOCIATION