MIDDLEBURG SPRING RACE ASSOCIATION INC (EIN 540801738) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1969

Legal Domicile

Principal Officer

PAUL D FOUT

Phone

5406876545

Tax Period

2023-07-01 to 2024-06-30

MIDDLEBURG SPRING RACE ASSN INC, founded in 1969, is a small nonprofit in the Recreation & Sports sector that reported $592K in total revenue in fiscal year 2017. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $222K, a strong 37% operating margin.

Mission

HORSE RACES FOR THE BENEFIT OF LOCAL CHARITABLE ORGANIZATIONS.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $387,235

Program Service Revenue $312,172

Investment Income $50,909

Other Revenue $0

TOTAL REVENUE $750,316

Expense Breakdown

Grants Paid $22,500

Salaries & Benefits $36,904

Fundraising Expenses $0

Program Expenses $431,830

Other Expenses $456,690

TOTAL EXPENSES $516,094

Year-over-Year Comparison

	2023	2022	Change
Revenue	$750,316	$774,360	0.0%
Expenses	$516,094	$499,866	+0.0%
Net Income	$234,222	$274,494	-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

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHARON SHEPPARD	CHAIRMAN	1.00	Officer Director	$0	$0	$0
PAUL D FOUT	PRESIDENT	3.00	Officer Director	$0	$0	$0
F TURNER REUTER JR	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
BEVERLY STEINMAN	DIRECTOR	1.00	Director	$0	$0	$0
GAIL CLARK	DIRECTOR	1.00	Director	$0	$0	$0
PATSY RICHARDS	DIRECTOR	1.00	Director	$0	$0	$0
LYNN WILEY	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL CRANE	DIRECTOR	1.00	Director	$0	$0	$0
VIVIANE WARREN	DIRECTOR	1.00	Director	$0	$0	$0
ANNIE BISHOP	DIRECTOR	3.00	Director	$0	$0	$0
PHILIP DUDLEY	VICE PRESIDENT & TREASURER	1.00	Officer Director	$0	$0	$0
BRUCE SMITH	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
2025	No data	No data	No data	No data
2024	$750,316	$516,094	$2,822,433	$234,222
2023	$774,360	$499,866	$2,390,485	$274,494
2022	$686,163	$433,370	$1,992,145	$252,793
2021	$360,617	$420,148	$1,900,004	$-59,531
2020	$702,045	$317,480	$1,732,861	$384,565
2019	$582,261	$421,341	$1,289,063	$160,920
2018	$592,065	$370,476	$1,057,934	$221,589

MIDDLEBURG SPRING RACE ASSOCIATION INC