KENTUCKY HARNESS ASSOCIATION INC (EIN 843748324) - 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

2020

Legal Domicile

Principal Officer

ROBERT M BRADY

Phone

5028633070

Tax Period

2025-01-01 to 2025-12-31

KENTUCKY HARNESS ASSOCIATION INC, founded in 2020, is a small nonprofit in the Community Improvement sector that reported $250K in total revenue in fiscal year 2025. The organization ran a surplus of $104K, a strong 42% operating margin.

Mission

THE KENTUCKY HARNESS ASSOCIATION EXISTS TO PROMOTE, SUPPORT AND FACILITATE GROWTH IN THE HARNESS INDUSTRY IN KENTUCKY AND TO PROMOTE AND ENCOURAGE COOPERATIVE EFFORTS AMONG RACETRACKS, OWNERS, BREEDERS, TRAINERS AND DRIVERS, FANS, AND OTHER INDUSTRY PARTICIPANTS FOR THE OVERALL BENEFIT OF THE INDUSTRY.

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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 $250,000

Investment Income $0

Other Revenue $0

TOTAL REVENUE $250,000

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $145,976

Other Expenses $145,976

TOTAL EXPENSES $145,976

Year-over-Year Comparison

	2025	2024	Change
Revenue	$250,000	$250,000	N/A
Expenses	$145,976	$165,781	-0.1%
Net Income	$104,024	$84,219	+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	Hours/Week	Role	Reportable Comp	Other Comp	Total
GIBSON WILHITE	DIRECTOR	1.00	Director	$0	$0	$0
KARL R PINSKE	DIRECTOR	1.00	Director	$0	$0	$0
EDWARD A RECESKI	DIRECTOR	1.00	Director	$0	$0	$0
ANETTE K LORENTZON	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT M BRADY	PRESIDENT/TREASURER	2.00	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
2025	$250,000	$145,976	$764,762	$104,024
2024	$250,000	$165,781	$660,739	$84,219
2023	$250,000	$133,427	$576,520	$116,573
2022	$312,500	$125,545	$459,947	$186,955
2021	$250,000	$21,828	$272,992	$228,172

KENTUCKY HARNESS ASSOCIATION INC