HORSEMEN'S WORKERS' COMPENSATION INSURANCE TRUST (EIN 456375624) - 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

2011

Legal Domicile

Principal Officer

KEITH HERNANDEZ

Phone

5049451555

Tax Period

2024-01-01 to 2024-12-31

HORSEMEN'S WORKERS' COMPENSATION INSURANCE TRUST, founded in 2011, is a community nonprofit in the Mutual Benefit sector that reported $5.0M in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum.

Mission

TO PROVIDE WORKERS' COMPENSATION INSURANCE AND RELATED BENEFITS FOR CERTAIN WORKERS PARTICIPATING IN THE 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,996,302

Investment Income $40,553

Other Revenue $0

TOTAL REVENUE $5,036,855

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $4,180,950

Other Expenses $1,969,322

TOTAL EXPENSES $5,362,169

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,036,855	$4,002,421	+0.3%
Expenses	$5,362,169	$4,360,760	+0.2%
Net Income	$-325,314	$-358,339	-0.1%

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

$168,243

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEITH HERNANDEZ	CHAIRMAN	1.00	Officer Director	$0	$0	$0
CARROL CASTILLE	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN DELAHOUSSAYE	TRUSTEE	1.00	Director	$0	$0	$0
KENNETH ROBERTS	TRUSTEE	1.00	Director	$0	$0	$0
BRET CALHOUN	TRUSTEE	1.00	Director	$0	$0	$0
EDWIN FENASCI	EXECUTIVE DIRECTOR	12.40	Officer	$0	$8,049	$168,243

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	$5,036,855	$5,362,169	$6,656,361	$-325,314
2023	$4,002,421	$4,360,760	$6,690,852	$-358,339
2022	$3,392,702	$2,682,784	$5,951,306	$709,918
2021	$3,552,316	$2,934,086	$5,510,207	$618,230
2020	$3,142,763	$2,120,682	$5,108,586	$1,022,081
2019	$3,687,174	$4,920,444	$5,356,648	$-1,233,270
2018	$3,773,492	$3,732,356	$5,707,627	$41,136

HORSEMEN'S WORKERS' COMPENSATION INSURANCE TRUST