THOROUGHBRED FLYING CLUB INC (EIN 822226770) - 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

2017

Legal Domicile

Principal Officer

James M Spurgeon

Phone

5027445871

Tax Period

2023-01-01 to 2023-12-31

THOROUGHBRED FLYING CLUB INC, founded in 2017, is a small nonprofit in the Recreation & Sports sector that reported $445K in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

Membership in the club is open to pilots and their family members who wish to be part of a group of fellow pilots to further build relationships in the flying community, share a love of flying, and promote aviation in the community.

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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 $197,200

Program Service Revenue $247,734

Investment Income $0

Other Revenue $0

TOTAL REVENUE $444,934

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $0

Other Expenses $438,460

TOTAL EXPENSES $438,460

Year-over-Year Comparison

	2023	2022	Change
Revenue	$444,934	$380,573	+0.2%
Expenses	$438,460	$357,268	+0.2%
Net Income	$6,474	$23,305	-0.7%

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

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
James M Spurgeon	Prseident	20	Officer	$0	$0	$0
Steve Whalen	Vice President of Operations and Treasurer	8	Officer	$0	$0	$0
Daniel Ormsby	Secretary and Member Relations	4	Officer	$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	$444,934	$438,460	$105,662	$6,474
2022	$380,573	$357,268	$106,188	$23,305
2021	$301,281	$274,055	$82,883	$27,226

THOROUGHBRED FLYING CLUB INC