CHURCHILL DOWNS RACING CLUB INC (EIN 812320648) - 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

2016

Legal Domicile

Principal Officer

GARY PALMISANO

Phone

5026383805

Tax Period

2023-01-01 to 2023-12-31

CHURCHILL DOWNS RACING CLUB INC, founded in 2016, is a micro nonprofit in the Recreation & Sports sector that reported $96K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $147K exceeded revenue, resulting in a 53% operating deficit.

Mission

CHURCHILL DOWNS RACING CLUB, INC. (THE "CLUB") IS A SOCIAL CLUB ORGANIZED FOR PLEASURE, RECREATION AND ENJOYMENT THAT IS SUPPORTED BY ANNUAL MEMBERSHIP DUES FROM MEMBERS WHO ARE INTERESTED IN OR PASSIONATE ABOUT THE SPORT OF THOROUGHBRED HORSE RACING, THOROUGHBRED HORSE RACING OWNERSHIP AND THOROUGHBRED HORSE EDUCATION.

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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 (2023)

Revenue Breakdown

Contributions & Grants $72,500

Program Service Revenue $23,427

Investment Income $0

Other Revenue $0

TOTAL REVENUE $95,927

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $146,757

TOTAL EXPENSES $146,757

Year-over-Year Comparison

	2023	2022	Change
Revenue	$95,927	$101,631	-0.1%
Expenses	$146,757	$144,784	+0.0%
Net Income	$-50,830	$-43,153	+0.2%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
KEVIN FLANERY	DIRECTOR	Director	$0	$0	$0
MIKE ZIEGLER	DIRECTOR	Director	$0	$0	$0
GARY PALMISANO	DIRECTOR	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	No data	No data	No data	No data
2023	$95,927	$146,757	$107,500	$-50,830
2022	$101,631	$144,784	$158,330	$-43,153
2021	$89,085	$219,529	$201,483	$-130,444
2020	$292,891	$211,643	$331,927	$81,248
2019	$381,335	$359,462	$268,229	$21,873
2018	$590,642	$602,920	$356,356	$-12,278

CHURCHILL DOWNS RACING CLUB INC