THE MN HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC (EIN 411778168) - 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

1989

Legal Domicile

Principal Officer

JUSTIN REVAK

Phone

9524966442

Tax Period

2023-01-01 to 2023-12-31

THE MN HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC, founded in 1989, is a small nonprofit that reported $479K in total revenue in fiscal year 2023. Revenue surged 29% from the prior year, signaling strong growth momentum. The organization ran a surplus of $93K, a strong 19% operating margin.

Mission

TO PRESERVE THE WELFARE OF THE HORSE RACING INDUSTRY

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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 $478,634

Investment Income $4

Other Revenue $0

TOTAL REVENUE $478,638

Expense Breakdown

Grants Paid $0

Salaries & Benefits $164,579

Fundraising Expenses $0

Program Expenses $207,866

Other Expenses $220,861

TOTAL EXPENSES $385,440

Year-over-Year Comparison

	2023	2022	Change
Revenue	$478,638	$372,114	+0.3%
Expenses	$385,440	$357,696	+0.1%
Net Income	$93,198	$14,418	+5.5%

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
JUSTIN REVAK	PRESIDENT	20.00	Officer Director	$0	$0	$0
CLAUDIA GOEBEL	VICE PRESIDE	5.00	Officer Director	$0	$0	$0
TONY RENGSTORF	VICE PRESIDE	5.00	Officer Director	$0	$0	$0
DAN KJORSVIK	DIRECTOR	5.00	Director	$0	$0	$0
PETE MATTSON	DIRECTOR	5.00	Director	$0	$0	$0
DEAN PETERSON	DIRECTOR	5.00	Director	$0	$0	$0
COTY ROSIN	DIRECTOR	5.00	Director	$0	$0	$0
DAVID VANWINKLE	DIRECTOR	5.00	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	No data	No data	No data	No data
2023	$478,638	$385,440	$440,891	$93,198
2022	$372,114	$357,696	$346,318	$14,418
2021	$373,603	$303,098	$331,370	$70,505
2020	$381,600	$291,856	$260,985	$89,744
2019	$420,016	$313,700	$172,375	$106,316
2018	$423,682	$406,819	$64,840	$16,863

THE MN HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC