MARYLAND THOROUGHBRED HORSEMEN'S ASSOCIATION INC

EIN: 521493207

OWINGS MILLS, MD

Total Revenue
$1,728,430
Total Expenses
$1,852,599
Total Assets
$1,854,100
Net Assets
$1,783,020
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
MD
Principal Officer
KATHARINE M VOSS
Phone
4109026842
Tax Period
2024-01-01 to 2024-12-31

MARYLAND THOROUGHBRED HORSEMEN'S ASSOCIATION INC, founded in 1986, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2024.

Mission

ORGANIZED TO PROMOTE THE INTEREST OF THOROUGHBRED RACING IN MARYLAND AND TO REPRESENT ALL HORSEMEN'S INTERESTS AND PROPERTY RIGHTS IN DEALING WITH VARIOUS RACING ASSOCIATIONS, THE RACING COMMISSION, AND THE STATE LEGISLATUTE.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,627,676
Investment Income $75,754
Other Revenue $25,000
TOTAL REVENUE $1,728,430

Expense Breakdown

Grants Paid $30,000
Salaries & Benefits $731,306
Fundraising Expenses $0
Other Expenses $1,091,293
TOTAL EXPENSES $1,852,599

Year-over-Year Comparison

2024 2023 Change
Revenue $1,728,430 $1,812,152 0.0%
Expenses $1,852,599 $1,830,079 +0.0%
Net Income $-124,169 $-17,927 +5.9%
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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Governance

Voting Members
15
Independent Members
15
Employees
8
Volunteers
15

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
5
$0
Total Directors
15
$0
Key Employees
1
$253,921
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID RICHARDSON EXECUTIVE DI 50.00
Key Emp
$211,601 $42,320 $253,921
A FERRIS ALLEN SECRETARY 5.00
Officer Director
$0 $0 $0
THOMAS BOWMAN DIRECTOR 2.00
Director
$0 $0 $0
LACEY A GAUDET DIRECTOR 2.00
Director
$0 $0 $0
LINDA S GAUDET VICE PRESIDE 5.00
Officer Director
$0 $0 $0
DAVID HAYDEN DIRECTOR 2.00
Director
$0 $0 $0
JOANN HAYDEN DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL F HORNING TREASURER 5.00
Officer Director
$0 $0 $0
JOSEPH P PONS JR DIRECTOR 2.00
Director
$0 $0 $0
TIMOTHY L KEEFE VICE PRESIDE 5.00
Officer Director
$0 $0 $0
H GRAHAM MOTION DIRECTOR 2.00
Director
$0 $0 $0
CHARLES J REED DIRECTOR 2.00
Director
$0 $0 $0
BRITTANY T RUSSEL DIRECTOR 2.00
Director
$0 $0 $0
MICHAEL J TROMBETTA DIRECTOR 2.00
Director
$0 $0 $0
KATHARINE M VOSS PRESIDENT 5.00
Officer Director
$0 $0 $0
DAVID WADE DIRECTOR 2.00
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 $1,728,430 $1,852,599 $1,854,100 $-124,169
2023 $1,812,152 $1,830,079 $1,995,161 $-17,927
2022 $1,820,486 $1,759,953 $1,772,289 $60,533
2021 $1,645,385 $1,456,198 $1,933,805 $189,187
2020 $1,245,576 $1,359,679 $1,707,609 $-114,103
2019 $1,685,598 $1,683,270 $1,830,897 $2,328
2018 $1,651,738 $1,501,855 $1,630,906 $149,883
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