FAIR GROUNDS RACING CLUB INC

EIN: 814652508 Recreation & Sports

NEW ORLEANS, LA

Total Revenue
N/A
Total Expenses
$102,300
Total Assets
$5,526
Net Assets
$5,526
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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
LA
Principal Officer
GARY PALMISANO
Phone
5026383805
Tax Period
2019-01-01 to 2019-12-31

Mission

FAIR GROUNDS 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%)

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Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $0

Expense Breakdown

Grants Paid $100,000
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $2,300
TOTAL EXPENSES $102,300

Year-over-Year Comparison

2019 2018 Change
Revenue N/A $58,000 -1.0%
Expenses $102,300 $30,966 +2.3%
Net Income N/A $27,034 N/A
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
3
Independent Members
3
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
0
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CAREY LOSHBAUGH DIRECTOR 0.00
Director
$0 $0 $0
MIKE ZIEGLER DIRECTOR 0.00
Director
$0 $0 $0
GARY PALMISANO DIRECTOR 0.00
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
2019 No data $102,300 $5,526 No data
2018 $58,000 $30,966 $107,826 $27,034
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