IOWA THOROUGHBRED BREEDERS AND OWNERS ASSOCIATION (EIN 421376030) - 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

1969

Legal Domicile

Principal Officer

KRISTAL FREESE

Phone

5159573002

Tax Period

2024-01-01 to 2024-12-31

IOWA THOROUGHBRED BREEDERS AND OWNERS ASSOCIATION, founded in 1969, is a small nonprofit that reported $594K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $143K, a strong 24% operating margin.

Mission

TO PROMOTE BREEDING & RACING OF THOROUGHBRED HORSES IN IOWA

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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 $22,175

Program Service Revenue $528,811

Investment Income $41,183

Other Revenue $2,128

TOTAL REVENUE $594,297

Expense Breakdown

Grants Paid $3,500

Salaries & Benefits $64,977

Fundraising Expenses $0

Program Expenses $281,438

Other Expenses $383,249

TOTAL EXPENSES $451,726

Year-over-Year Comparison

	2024	2023	Change
Revenue	$594,297	$542,543	+0.1%
Expenses	$451,726	$458,114	0.0%
Net Income	$142,571	$84,429	+0.7%

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
KRISTAL FREESE	PRESIDENT	1.00	Officer Director	$0	$0	$0
PAM SCHUTZ	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
NIKKI FERWERDA	SEC/TREASURER	1.00	Officer Director	$0	$0	$0
BONNIE BIRZER	DIRECTOR	1.00	Director	$0	$0	$0
STEVE RENFTLE	DIRECTOR	1.00	Director	$0	$0	$0
TYLER INGLE	DIRECTOR	1.00	Director	$0	$0	$0
PAUL FELL	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTA JORDAN	DIRECTOR	1.00	Director	$0	$0	$0
DEB MOSS	DIRECTOR	1.00	Director	$0	$0	$0
TANNER TRACY	DIRECTOR	1.00	Director	$0	$0	$0
DOUG VAIL	DIRECTOR	1.00	Director	$0	$0	$0
MIKE VANDERPOOL	DIRECTOR	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	$594,297	$451,726	$1,269,313	$142,571
2023	$542,543	$458,114	$1,124,929	$84,429
2022	$477,398	$451,911	$1,044,750	$25,487
2021	$379,828	$449,248	$1,041,000	$-69,420
2020	$493,040	$439,585	$1,014,084	$53,455
2019	$496,612	$429,961	$955,063	$66,651
2018	$488,556	$493,602	$869,878	$-5,046

IOWA THOROUGHBRED BREEDERS AND OWNERS ASSOCIATION