DELAWARE THOROUGHBRED HORSEMEN'S ASSOCIATION (EIN 510327075) - 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

1987

Legal Domicile

Principal Officer

JANET RITCHEY

Phone

3029942521

Tax Period

2024-01-01 to 2024-12-31

DELAWARE THOROUGHBRED HORSEMEN'S ASSOCIATION, founded in 1987, is a community nonprofit in the Community Improvement sector that reported $3.2M in total revenue in fiscal year 2024. Revenue surged 56% from the prior year, signaling strong growth momentum. The organization ran a surplus of $849K, a strong 26% operating margin.

Mission

TO PROMOTE THE SPORT OF THOROUGHBRED HORSE RACING

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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 $2,421,131

Program Service Revenue $710,167

Investment Income $74,457

Other Revenue $0

TOTAL REVENUE $3,205,755

Expense Breakdown

Grants Paid $0

Salaries & Benefits $283,506

Fundraising Expenses $0

Program Expenses $2,356,444

Other Expenses $2,072,938

TOTAL EXPENSES $2,356,444

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,205,755	$2,059,499	+0.6%
Expenses	$2,356,444	$2,089,527	+0.1%
Net Income	$849,311	$-30,028	-29.3%

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

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

$134,024

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIM RITCHEY	PRESIDENT	1.00	Officer Director	$0	$0	$0
BARBARA BROWN	1ST VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JANET RITCHEY	SECRETARY & TREASURER	1.00	Officer Director	$0	$0	$0
ED ALLARD	DIRECTOR	1.00	Director	$0	$0	$0
JAMIE NESS	DIRECTOR	1.00	Director	$0	$0	$0
ANTHONY PECORARO	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT PECK	DIRECTOR	1.00	Director	$0	$0	$0
BESSIE GRUWELL	EXECUTIVE DIRECTOR	40.00	Director	$134,024	$0	$134,024
PEDRO NAZARIO	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	$3,205,755	$2,356,444	$2,157,439	$849,311
2023	$2,059,499	$2,089,527	$1,519,685	$-30,028
2022	$2,461,936	$3,185,880	$1,178,451	$-723,944
2021	$2,112,631	$1,613,470	$1,988,380	$499,161
2020	$1,480,999	$1,689,354	$1,406,529	$-208,355
2019	$1,465,572	$1,774,616	$1,501,388	$-309,044
2018	$1,643,966	$1,694,127	$1,706,628	$-50,161

DELAWARE THOROUGHBRED HORSEMEN'S ASSOCIATION