FLORIDA HORSEMEN'S BENEVOLENT AND PROTECTIVE ASSOCIATION INC (EIN 650135161) - 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

TOM CANNELL

Phone

9544573516

Tax Period

2025-01-01 to 2025-12-31

FLORIDA HORSEMEN'S BENEVOLENT AND PROTECTIVE ASSOCIATION INC, founded in 1989, is a community nonprofit in the Community Improvement sector that reported $1.6M in total revenue in fiscal year 2025. Revenue decreased 16% compared to the prior year. Expenses of $2.1M exceeded revenue, resulting in a 26% operating deficit.

Mission

THE ASSOCIATION REPRESENTS THE INTERESTS OF SEVERAL THOUSAND THOROUGHBRED HORSE OWNERS AND TRAINERS WHO DO BUSINESS IN SOUTH FLORIDA. THE ASSOCIATION WORKS TO FOSTER AND PROMOTE THEIR RELATIONSHIPS WITH TRACKS, COMMUNITY AND GOVERNMENT, WHILE CREATING A BETTER ECONOMIC CLIMATE IN WHICH OUR HORSEMAN CAN DO BUSINESS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,600,838

Investment Income $44,219

Other Revenue $4,737

TOTAL REVENUE $1,649,794

Expense Breakdown

Grants Paid $590,000

Salaries & Benefits $254,079

Fundraising Expenses $0

Other Expenses $1,233,093

TOTAL EXPENSES $2,077,172

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,649,794	$1,959,772	-0.2%
Expenses	$2,077,172	$1,678,784	+0.2%
Net Income	$-427,378	$280,988	-2.5%

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

$95,000

Total Directors

$135,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOM CANNELL	PRESIDENT/TR	10.00	Officer Director	$55,000	$0	$55,000
CHESTER BISHOP	2ND VICE PRE	5.00	Officer Director	$40,000	$0	$40,000
JOE ORSENO	DIRECTOR	5.00	Director	$40,000	$0	$40,000
GERARDO AMADO	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK BIANCONE	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT COTRAN	DIRECTOR	1.00	Director	$0	$0	$0
KATHY DAVEY	DIRECTOR	1.00	Director	$0	$0	$0
DAVID FAWKES	DIRECTOR	1.00	Director	$0	$0	$0
SAFFIE JOSEPH JR	DIRECTOR	1.00	Director	$0	$0	$0
ADAM LAZARUS	1ST VICE PRE	2.00	Officer Director	$0	$0	$0
PETER LAWSON	DIRECTOR	1.00	Director	$0	$0	$0
TERESA PALMER	DIRECTOR	1.00	Director	$0	$0	$0
DAVID ROUSSO	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY SISKIN	DIRECTOR	1.00	Director	$0	$0	$0
RON SPATZ	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	$1,649,794	$2,077,172	$3,172,854	$-427,378
2024	$1,959,772	$1,678,784	$3,439,486	$280,988
2023	$1,354,424	$1,326,880	$2,950,541	$27,544
2022	$1,492,878	$1,643,551	$2,589,618	$-150,673
2021	$1,694,912	$890,726	$3,116,738	$804,186
2020	$1,774,759	$939,238	$2,888,571	$835,521
2019	$1,891,249	$1,686,917	$2,067,244	$204,332

FLORIDA HORSEMEN'S BENEVOLENT AND PROTECTIVE ASSOCIATION INC