Nebraska Horsemen's Benevolent and… - 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

1987

Legal Domicile

Phone

4028024467

Tax Period

2023-01-01 to 2023-12-31

Nebraska Horsemen's Benevolent and Protective Association Inc, founded in 1987, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2023. Revenue surged 94% from the prior year, signaling strong growth momentum. The organization ran a surplus of $685K, a strong 29% operating margin.

Mission

THE PURPOSES OF THE ASSOCIATION ARE AS FOLLOWS: TO FOSTER, PROMOTE, AND OTHERWISE ENCOURAGE A HEALTHIER ECONOMIC CLIMATE AND A HIGHER LEVEL OF PUBLIC ACCEPTANCE OF THE THOROUGHBRED HORSE INDUSTRY IN THE STATE OF NEBRASKA AND BETTER RELATIONS AMONG PARTICIPANTS. TO PROTECT THE SAFETY OF MEMBERS, THEIR STABLE PERSONNEL AND THEIR HORSES BY WORKING WITH THE RACE AREA CONDITIONS, PROPER EMERGENCY PROCEDURES, AND REASONABLE STABLING SCHEDULES. TO REPRESENT THE INTERESTS AND PROPERTY RIGHTS OF ITS MEMBERS IN ANY MATTERS WITH ANY RACING ASSOCIATION, JOCKEY'S ORGANIZATION OR ANY OTHER INDUSTRY-RELATED ORGANIZATION. TO REPRESENT THE GENERAL INTEREST OF ITS MEMBERS IN ANY MATTERS WITH ANY LOCAL, STATE, OR FEDERAL GOVERNMENT AND ANY AGENCY THEROF AND ANY RACING COMMISSION. TO INFORM AND EDUCATE ITS MEMBERS AND OTHER SEGMENTS OF THE HORSE INDUSTRY AND TO FOSTER A BETTER UNDERSTANDING OF THE HORSE INDUSTRY BY THE HORSE RACING COMMUNITY; TO ARRANGE FOR PUBLICATIONS, SEMINARS.

Program Service Accomplishments

Program 1

FURTHERING THOROUGHBRED RACING ACTIVITIES IN NEBRASKA THROUGH CASH SUPPLEMENTS AT ALL THE NEBRASKA RACETRACKS.

Program 2

PROVIDING MEMBER BENEFITS SUCH AS MEDICAL, FUNERAL, AND BACKSIDE BENEFITS.

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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 $27,202

Other Revenue $2,331,203

TOTAL REVENUE $2,358,405

Expense Breakdown

Grants Paid $13,184

Salaries & Benefits $159,333

Fundraising Expenses $0

Program Expenses $0

Other Expenses $1,440,783

TOTAL EXPENSES $1,673,300

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,358,405	$1,216,383	+0.9%
Expenses	$1,673,300	$901,220	+0.9%
Net Income	$685,105	$315,163	+1.2%

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

$348,216

Total Directors

$153,308

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	VICE PRESIDENT	0.0	Officer Director	$0	$0	$0
N/A	PRESIDENT	0.0	Officer Director	$0	$0	$0
N/A	SECRETARY/TREASURER/COO	40.0	Officer Director	$147,308	$6,000	$153,308
N/A	DIRECTOR	0.0	Director	$0	$0	$0
N/A	DIRECTOR	0.0	Director	$0	$0	$0
N/A	DIRECTOR	0.0	Director	$0	$0	$0
N/A	DIRECTOR	0.0	Director	$0	$0	$0
N/A	DIRECTOR	0.0	Director	$0	$0	$0
N/A	DIRECTOR	0.0	Director	$0	$0	$0
N/A	DIRECTOR	0.0	Director	$0	$0	$0
N/A	DIRECTOR	0.0	Director	$0	$0	$0
N/A	DIRECTOR	0.0	Director	$0	$0	$0
N/A	CHIEF EXECUTIVE OFFICER	40.0	Officer	$183,021	$11,887	$194,908

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	$2,358,405	$1,673,300	$21,197,554	$685,105
2022	$1,216,383	$901,220	$16,589,886	$315,163
2021	$1,882,455	$1,203,240	$12,449,045	$679,215
2020	$1,454,963	$1,309,268	$12,712,596	$145,695
2019	$1,847,271	$1,934,224	$12,432,446	$-86,953
2018	$1,610,136	$1,597,741	$13,044,101	$12,395

Nebraska Horsemen's Benevolent and Protective Association Inc