MICHIGAN HORSEMENS BENEVOLENT & PR… - 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

1988

Legal Domicile

Principal Officer

VIRGINIA UELMEN

Phone

2487703624

Tax Period

2023-01-01 to 2023-12-31

MICHIGAN HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC, founded in 1988, is a micro nonprofit in the Recreation & Sports sector that reported $83 in total revenue in fiscal year 2023. Revenue fell 100% from the prior year — a significant decline worth monitoring. Expenses of $6K exceeded revenue, resulting in a 7628% operating deficit.

Mission

TO PROMOTE AND IMPROVE HORSEMEN'S INTERESTS IN THE STATE OF MICHIGAN AND TO REPRESENT HORSEMEN IN NEGOTIATIONS WITH RACE TRACK OPERATORS.

Program Service Accomplishments

Program 1

DESPITE THE LOSS OF THE ABILITY TO RACE IN MICHIGAN WITH THE TRACKS CLOSING, MICHIGAN HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC HAS CONTINUED TO OPERATE WITH A MISSION TO PROMOTE AND IMPROVE...

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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 $0

Investment Income $83

Other Revenue $0

TOTAL REVENUE $83

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $6,414

TOTAL EXPENSES $6,414

Year-over-Year Comparison

	2023	2022	Change
Revenue	$83	$146,444	-1.0%
Expenses	$6,414	$24,819	-0.7%
Net Income	$-6,331	$121,625	-1.1%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIM EGGLESTON	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTI FLORES	DIRECTOR	1.00	Director	$0	$0	$0
LISA CAMPBELL	DIRECTOR	1.00	Director	$0	$0	$0
CAROL RETTELE	DIRECTOR	1.00	Director	$0	$0	$0
EJ HUBEL	DIRECTOR	1.00	Director	$0	$0	$0
SHANE SPIESS	DIRECTOR	1.00	Director	$0	$0	$0
KALA VELMAN	DIRECTOR	1.00	Director	$0	$0	$0
LISA NOWICKI	DIRECTOR	1.00	Director	$0	$0	$0
VIRGINIA UELMEN	TREASURER/SECRETARY	1.00	Officer Director	$0	$0	$0
ROBERT GORHAM	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JASON UELMEN	PRESIDENT	1.00	Officer 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
2023	$83	$6,414	$392,274	$-6,331
2018	$25,879	$135,969	$1,067,620	$-110,090

MICHIGAN HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC