KENTUCKY HORSEMEN'S BENEVOLENT AND PROTECTIVE ASSOCIATION INC (EIN 611162231) - Form 990 Financial Analysis & Trantor Score

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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

1989

Legal Domicile

Principal Officer

ALEX FOLEY

Phone

5023631077

Tax Period

2024-01-01 to 2024-12-31

KENTUCKY HORSEMEN'S BENEVOLENT AND PROTECTIVE ASSOCIATION INC, founded in 1989, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2024. Revenue surged 29% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 54% operating margin.

Mission

PROMOTION OF THOROUGHBRED HORSE- RACING AND REPRESENTATION OF ALL HORSEMEN'S INTERESTS (SCHEDULE O) AND PROPERTY RIGHTS IN DEALING WITH RACING 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,730,867

Investment Income $137,325

Other Revenue $40

TOTAL REVENUE $2,868,232

Expense Breakdown

Grants Paid $28,014

Salaries & Benefits $546,135

Fundraising Expenses $0

Other Expenses $735,989

TOTAL EXPENSES $1,310,138

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,868,232	$2,216,649	+0.3%
Expenses	$1,310,138	$1,145,272	+0.1%
Net Income	$1,558,094	$1,071,377	+0.5%

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

$133,750

Total Directors

$48,686

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICK HILES	DIRECTOR	8.00	Director	$48,686	$0	$48,686
DALE ROMANS	PRESIDENT	3.00	Officer Director	$0	$0	$0
MICHAEL BRUDER	DIRECTOR (PREVIOUS)	3.00	Director	$0	$0	$0
MARK BACON	DIRECTOR	3.00	Director	$0	$0	$0
JOHN HANCOCK	2ND VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
JIM WILLIAMS	DIRECTOR (PREVIOUS)	3.00	Director	$0	$0	$0
TRAVIS FOLEY	1ST VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
WILLIAM BUFF BRADLEY	DIRECTOR	3.00	Director	$0	$0	$0
NORMAN CASSE	DIRECTOR (PREVIOUS)	3.00	Director	$0	$0	$0
BENTLEY COMBS	DIRECTOR (PREVIOUS)	3.00	Director	$0	$0	$0
JASON BARKLEY	DIRECTOR (PREVIOUS)	3.00	Director	$0	$0	$0
JORDAN BLAIR	DIRECTOR	3.00	Director	$0	$0	$0
BRET CALHOUN	DIRECTOR	3.00	Director	$0	$0	$0
PHIL BAUER	DIRECTOR	3.00	Director	$0	$0	$0
CASEY KLEIN	DIRECTOR	3.00	Director	$0	$0	$0
HANS MARON	DIRECTOR	3.00	Director	$0	$0	$0
ALEX FOLEY	EXECUTIVE DIRECTOR	45.00	Officer	$133,750	$0	$133,750

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	$2,868,232	$1,310,138	$5,496,539	$1,558,094
2023	$2,216,649	$1,145,272	$3,795,613	$1,071,377
2022	$1,994,416	$1,331,976	$2,650,674	$662,440
2021	$1,522,291	$1,104,161	$2,025,353	$418,130
2020	$1,359,309	$1,079,167	$1,574,828	$280,142
2020	$1,359,309	$1,079,167	$1,574,828	$280,142
2019	$1,403,145	$1,118,676	$1,298,280	$284,469
2019	$1,403,145	$1,118,676	$1,298,280	$284,469
2018	$1,104,684	$1,067,254	$948,980	$37,430

KENTUCKY HORSEMEN'S BENEVOLENT AND PROTECTIVE ASSOCIATION INC