KENTUCKY THOROUGHBRED ASSOCIATION INC

EIN: 611034871

LEXINGTON, KY

Total Revenue
$842,249
Total Expenses
$860,243
Total Assets
$852,998
Net Assets
$841,710
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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
1983
Legal Domicile
KY
Principal Officer
CHAUNCEY MORRIS
Phone
8593811414
Tax Period
2023-07-01 to 2024-06-30

KENTUCKY THOROUGHBRED ASSOCIATION INC, founded in 1983, is a small nonprofit that reported $842K in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

TO ADVERTISE, FOSTER AND PROMOTE THE THOROUGHBRED HORSE INDUSTRY

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $800,142
Investment Income $42,107
Other Revenue $0
TOTAL REVENUE $842,249

Expense Breakdown

Grants Paid $51,386
Salaries & Benefits $292,318
Fundraising Expenses $0
Program Expenses $605,489
Other Expenses $516,539
TOTAL EXPENSES $860,243

Year-over-Year Comparison

2023 2022 Change
Revenue $842,249 $758,534 +0.1%
Expenses $860,243 $714,593 +0.2%
Net Income $-17,994 $43,941 -1.4%
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
34
Independent Members
34
Employees
4
Volunteers
34

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
1
$298,594
Total Directors
34
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRISTOPHER BAKER PRESIDENT 1.00
Director
$0 $0 $0
WALKER HANCOCK VICE PRESIDENT 1.00
Director
$0 $0 $0
BILL DAUGHERTY SECRETARY 1.00
Director
$0 $0 $0
DERMOT RYAN TREASURER 1.00
Director
$0 $0 $0
J STEPHEN HORN ASSISTANT TREASURER 1.00
Director
$0 $0 $0
JAMES E BAKER DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL BANAHAN DIRECTOR 1.00
Director
$0 $0 $0
CRAIG BANDOROFF DIRECTOR 1.00
Director
$0 $0 $0
PRICE BELL DIRECTOR 1.00
Director
$0 $0 $0
STUART E BROWN II DVM DIRECTOR 1.00
Director
$0 $0 $0
PATRICK COSTELLO DIRECTOR 1.00
Director
$0 $0 $0
THOMAS DRURY JR DIRECTOR 1.00
Director
$0 $0 $0
FERGUS GALVIN DIRECTOR 1.00
Director
$0 $0 $0
ANNE ARCHER HINKLE DIRECTOR 1.00
Director
$0 $0 $0
PAUL J MCGEE DIRECTOR 1.00
Director
$0 $0 $0
NEIL PESSIN DIRECTOR 1.00
Director
$0 $0 $0
KIM SMITH DIRECTOR 1.00
Director
$0 $0 $0
T WAYNE SWEEZEY DIRECTOR 1.00
Director
$0 $0 $0
JEFFERY D THORNBURY DIRECTOR 1.00
Director
$0 $0 $0
NED TOFFEY DIRECTOR 1.00
Director
$0 $0 $0
CLIFFORD BARRY DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
JAMES BELL DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
DARRELL BROWN DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
WADDELL W HANCOCK II DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
NEIL HOWARD DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
WILLIAM LS LANDERS III DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
GARRETT O'ROURKE DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
FRANK PENN JR DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
R ALEX RANKIN DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
DON M ROBINSON DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
FREDERICK J SEITZ DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
R ERIC WALDMAN DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
JOSEPH SEITZ DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
BRAXTON LYNCH DIRECTOR EMERITUS 1.00
Director
$0 $0 $0
CHAUNCEY MORRIS EXECUTIVE DIRECTOR 20.00
Officer
$130,990 $40,614 $298,594
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 $842,249 $860,243 $852,998 $-17,994
2023 $758,534 $714,593 $920,969 $43,941
2022 $761,042 $816,044 $923,428 $-55,002
2021 $677,107 $690,991 $1,193,221 $-13,884
2020 $493,899 $563,008 $1,130,443 $-69,109
2019 $541,643 $522,735 $1,263,000 $18,908
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