KENTUCKY RACING HEALTH AND WELFARE FUND INC

EIN: 610958300 501(c)(3)

LOUISVILLE, KY

Total Revenue
$4,273,428
Total Expenses
$1,939,913
Total Assets
$12,010,515
Net Assets
$12,010,515
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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
1978
Legal Domicile
KY
Principal Officer
KAREN PEHLKE
Phone
5025762878
Tax Period
2025-01-01 to 2025-12-31

KENTUCKY RACING HEALTH AND WELFARE FUND INC, founded in 1978, is a community nonprofit that reported $4.3M in total revenue in fiscal year 2025. Revenue surged 87% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.3M, a strong 55% operating margin.

Mission

TO PROVIDE EXCLUSIVELY FOR THE BENEFIT, AID, RELIEF, AND ASSISTANCE OF THE RACING PERSONNEL EMPLOYED IN CONNECTION WITH HORSE RACING WHO CAN DEMONSTRATE THEIR NEED FOR FINANCIAL ASSISTANCE.

Program Service Accomplishments

Program 1
Expenses: $1,682,734

THE FUND IS ORGANIZED FOR THE BENEFIT, AID, RELIEF, AND ASSISTANCE TO RACING PERSONNEL EMPLOYED IN CONNECTION WITH HORSE RACING WHO CAN DEMONSTRATE THEIR NEED FOR ASSISTANCE.

Program 2
Expenses: $103,642

GRANT TO KENTUCKY RACE TRACK RETIREMENT PLAN TO PROVIDE RETIREMENT BENEFITS TO RACING PERSONNEL EMPLOYED IN CONNECTION WITH 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%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $3,907,170
Program Service Revenue $0
Investment Income $366,258
Other Revenue $0
TOTAL REVENUE $4,273,428

Expense Breakdown

Grants Paid $1,157,238
Salaries & Benefits $516,552
Fundraising Expenses $0
Program Expenses $1,786,376
Other Expenses $266,123
TOTAL EXPENSES $1,939,913

Year-over-Year Comparison

2025 2024 Change
Revenue $4,273,428 $2,287,935 +0.9%
Expenses $1,939,913 $1,915,695 +0.0%
Net Income $2,333,515 $372,240 +5.3%
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

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Governance

Voting Members
6
Independent Members
6
Employees
8
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
4
$0
Total Directors
7
$152,317
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICK HILES CHAIRMAN 0.00
Officer Director
$0 $0 $0
CAROL HEBEL SECRETARY 0.00
Officer Director
$0 $0 $0
RICHARD P RIEDEL EXECUTIVE DIRECTOR 40.00
Director
$142,140 $10,177 $152,317
BURR TRAVIS TREASURER 0.00
Officer Director
$0 $0 $0
RANDY SCHEEN VICE CHAIRMAN 0.00
Officer Director
$0 $0 $0
DONNA WARD DIRECTOR 0.00
Director
$0 $0 $0
DALE ROMANS DIRECTOR 0.00
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 $4,273,428 $1,939,913 $12,010,515 $2,333,515
2024 No data No data No data No data
2023 $1,178,206 $1,925,636 $8,708,026 $-747,430
2022 $1,501,799 $1,730,279 $8,469,502 $-228,480
2021 $2,619,420 $1,817,630 $9,767,723 $801,790
2020 $2,040,911 $2,022,460 $9,224,752 $18,451
2019 $238,334 $2,362,203 $8,801,465 $-2,123,869
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