THOROUGHBRED HORSEMEN'S ASSOCIATIO… - 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

1995

Legal Domicile

Principal Officer

ALAN FOREMAN

Phone

4103568866

Tax Period

2023-01-01 to 2023-12-31

THOROUGHBRED HORSEMEN'S ASSOCIATIONSINC, founded in 1995, is a small nonprofit that reported $162K in total revenue in fiscal year 2023. Revenue fell 57% from the prior year — a significant decline worth monitoring. Expenses of $229K exceeded revenue, resulting in a 41% operating deficit.

Mission

TO CONTRIBUTE TO THE IMPROVEMENT OF THE THOROUGHBRED HORSE RACING INDUSTRY.

Program Service Accomplishments

Program 1

IMPROVED BUSINESS CONDITIONS FOR THOROUGHBRED HORSEMEN AND THEIR EMPLOYEES. ALSO, IMPROVED RELATIONS AMONG STATE THOROUGHBRED ASSOCIATIONS.

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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 $4,260

Program Service Revenue $157,500

Investment Income $287

Other Revenue $0

TOTAL REVENUE $162,047

Expense Breakdown

Grants Paid $0

Salaries & Benefits $140,000

Fundraising Expenses $0

Other Expenses $88,651

TOTAL EXPENSES $228,651

Year-over-Year Comparison

	2023	2022	Change
Revenue	$162,047	$380,425	-0.6%
Expenses	$228,651	$299,566	-0.2%
Net Income	$-66,604	$80,859	-1.8%

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

$140,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDY BELFIORE	DIRECTOR	0.50	Director	$0	$0	$0
BESSIE GRUWELL	SECRETARY	0.50	Officer Director	$0	$0	$0
CHRIS BLOCK	DIRECTOR	0.50	Director	$0	$0	$0
DAVID MCCAFFREY	DIRECTOR	0.50	Director	$0	$0	$0
DAVID RICHARDSON	DIRECTOR	0.50	Director	$0	$0	$0
DENNIS DRAZIN	DIRECTOR	0.50	Director	$0	$0	$0
JAMES GALLO	DIRECTOR	0.50	Director	$0	$0	$0
JEFFREY MATTY	DIRECTOR	0.50	Director	$0	$0	$0
JOE ORSENO	DIRECTOR	0.50	Director	$0	$0	$0
JOSEPH APPELBAUM	PRESIDENT	0.50	Officer Director	$0	$0	$0
MIKE MUSTO	DIRECTOR	0.50	Director	$0	$0	$0
ROBERT HUTT	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
TIMOTHY KEEFE	DIRECTOR	0.50	Director	$0	$0	$0
TIMOTHY RITCHEY	DIRECTOR	0.50	Director	$0	$0	$0
ALAN FOREMAN ESQ	CEO	40.00	Officer	$140,000	$0	$140,000

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
2023	$162,047	$228,651	$247,889	$-66,604
2022	$380,425	$299,566	$314,493	$80,859
2021	$406,130	$295,688	$233,634	$110,442
2020	$413,592	$380,729	$123,192	$32,863
2019	$419,435	$397,929	$90,329	$21,506
2018	$351,623	$377,194	$68,823	$-25,571

THOROUGHBRED HORSEMEN'S ASSOCIATIONSINC