OKLAHOMA QUARTER HORSE RACING ASSOCIATION INC

EIN: 731348198

EDMOND, OK

Total Revenue
$2,537,482
Total Expenses
$2,459,902
Total Assets
$3,777,288
Net Assets
$2,568,993
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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
OK
Principal Officer
LAKE NEWCOMB
Phone
4052160440
Tax Period
2024-01-01 to 2024-12-31

OKLAHOMA QUARTER HORSE RACING ASSOCIATION INC, founded in 1989, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2024. Expenses of $2.5M left a modest 3% surplus.

Mission

TO PROMOTE AND PROTECT THE INTEREST OF THE OKLAHOMA RACING QUARTER HORSE AND THE OWNERS, BREEDERS, AND TRAINERS OF RACING QUARTER HORSES AND ALL OTHER BREEDS PARTICIPATING IN RACING IN OKLAHOMA TO PROVIDE A FORUM FOR DISCUSSION OF LEGISLATIVE ISSUES WHICH MIGHT IMPACT QUARTER HORSE RACING AND BREEDING AND ALL OF THE OTHER BREEDS PARTICIPATING IN RACING AND BREEDING OF RACEHORSES IN OKLAHOMA; TO PROVIDE A VEHICLE FOR UNITED ACTION ON SUCH ISSUES WITH THE LEGISLATURE, THE OKLAHOMA HORSE RACING COMMISSION AND OTHER RACE OR BREED ORGANIZATIONS IN OKLAHOMA RACE TRACKS AND; TO REPRESENT OFFICIALLY OR UNOFFICIALLY OWNERS, TRAINERS AND BREEDERS AT ALL OKLAHOMA RACE TRACKS AND; TO ACTIVELY AND AGGRESSIVELY PROMOTE RACING OF ALL BREEDS INCLUDING QUARTER HORSE RACING TO THE PUBLIC, AND; TO PROMOTE RESEARCH IN EQUINE HEALTH, BREEDING AND TRAINING AND TO EDUCATE THE MEMBERSHIP IN NEW IDEAS AND TECHNIQUES, AND; TO EDUCATE AND INFORM THE PUBLIC ABOUT THE RACING QUARTER HORSE IN OKLAHOMA TO IMPROVE TH

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,425,424
Investment Income $66,996
Other Revenue $45,062
TOTAL REVENUE $2,537,482

Expense Breakdown

Grants Paid $0
Salaries & Benefits $479,800
Fundraising Expenses $0
Other Expenses $1,980,102
TOTAL EXPENSES $2,459,902

Year-over-Year Comparison

2024 2023 Change
Revenue $2,537,482 $2,453,196 +0.0%
Expenses $2,459,902 $2,426,127 +0.0%
Net Income $77,580 $27,069 +1.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
19
Independent Members
19
Employees
5
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
1
$0
Total Directors
18
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFF TEBOW DIRECTOR N/A
Director
$0 $0 $0
MATT WITMAN DIRECTOR/VIC N/A
Director
$0 $0 $0
WENDY INGERSOLL KEENER DIRECTOR/TRE N/A
Director
$0 $0 $0
ANGIE DEAN DIRECTOR N/A
Director
$0 $0 $0
CONNIE BARNES DIRECTOR/SEC N/A
Director
$0 $0 $0
STACY CHARETTE HILL DIRECTOR N/A
Director
$0 $0 $0
CARL PEVEHOUSE DIRECTOR N/A
Director
$0 $0 $0
BEN HUDSON OUT STATE DI N/A
Director
$0 $0 $0
LAKE NEWCOMB DIRECTOR/PRE N/A
Officer Director
$0 $0 $0
GARY WALKER DIRECTOR N/A
Director
$0 $0 $0
BUTCH WISE DIRECTOR/EME N/A
Director
$0 $0 $0
STEVE HOLT DIRECTOR N/A
Director
$0 $0 $0
ED MELZER DIRECTOR/EME N/A
Director
$0 $0 $0
ALLEN HYBSHA TRUSTEE/DIRE N/A
Director
$0 $0 $0
MICAH MCKINNEY DIRECTOR N/A
Director
$0 $0 $0
DEE RAPER TRUSTEE/DIRE N/A
Director
$0 $0 $0
WILLIAM SMITH DIRECTOR N/A
Director
$0 $0 $0
EDDIE WILLIS DIRECTOR N/A
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
2024 $2,537,482 $2,459,902 $3,777,288 $77,580
2023 $2,453,196 $2,426,127 $3,779,333 $27,069
2022 $2,832,608 $2,635,153 $3,559,305 $197,455
2021 $2,258,601 $2,109,141 $3,393,007 $149,460
2020 $1,799,288 $1,847,461 $3,425,614 $-48,173
2019 $1,937,003 $1,666,148 $3,073,928 $270,855
2018 $1,125,078 $1,139,282 $3,001,911 $-14,204
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