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Nonprofiteer
← CALIFORNIA THOROUGHBRED TRAINERS

Form 990 for tax year 2022

Filed by CALIFORNIA THOROUGHBRED TRAINERS.

Totals

Total revenue
$2,658,176
Total expenses
$1,434,937
Contributions and grants received
$33,000
Grants paid
$0
Program service revenue
$2,579,526
Investment income
$45,650
Other revenue
$0
Total assets, end of year
$2,374,546
Total liabilities, end of year
$351,803
Net assets or fund balances, end of year
$2,022,743
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $33,000

  • 2a · Program service revenue: TRACK REVENUE-PENSION

    total $1,476,187 · related or exempt $1,476,187

  • 2b · Program service revenue: RECREATION HALL INCOME

    total $600,032 · related or exempt $600,032

  • 2c · Program service revenue: TRACK REVENUE

    total $503,307 · related or exempt $503,307

  • 3 · Investment income

    total $41,381 · excluded $41,381

  • 7a · Gross sales of assets other than inventory

    securities $100,000

  • 7b · Less cost or other basis and sales expenses

    securities $95,731

  • 7c · Gain or loss

    securities $4,269

  • 7d · Net gain or loss

    total $4,269 · excluded $4,269

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $120,000

  • 7 · Other salaries and wages

    total $322,566

  • 9 · Other employee benefits

    total $58,254

  • 10 · Payroll taxes

    total $36,207

  • 11b · Fees: legal

    total $226,426

  • 11c · Fees: accounting

    total $46,702

  • 11g · Fees: other

    total $16,960

  • 13 · Office expenses

    total $30,427

  • 17 · Travel

    total $5,111

  • 19 · Conferences, conventions and meetings

    total $13,316

  • 20 · Interest

    total $1,522

  • 22 · Depreciation, depletion and amortization

    total $4,594

  • 23 · Insurance

    total $25,336

  • 24a · Other expenses: INVENTORY EXPENSES

    total $424,489

  • 24b · Other expenses: BAD DEBT

    total $36,689

  • 24c · Other expenses: BACKSTRETCH SERVICES

    total $29,747

  • 24d · Other expenses: REPAIRS & MAINTENANCE

    total $7,254

  • 24e · All other expenses

    total $29,337

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $50,959 · end of year $34,926

  • 2 · Savings and temporary cash investments

    beginning of year $148,877 · end of year $0

  • 4 · Accounts receivable

    beginning of year $238,227 · end of year $133,095

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,517 · end of year $24,081

  • 10a · Land, buildings and equipment: cost or other basis

    $341,260

  • 10b · Land, buildings and equipment: accumulated depreciation

    $296,616

  • 10c · Land, buildings and equipment, net

    beginning of year $49,237 · end of year $44,644

  • 11 · Investments: publicly traded securities

    beginning of year $808,920 · end of year $587,020

  • 15 · Other assets

    beginning of year $0 · end of year $1,550,780

  • 17 · Accounts payable and accrued expenses

    beginning of year $233,492 · end of year $127,584

  • 23 · Secured mortgages and notes payable

    beginning of year $147,443 · end of year $146,402

  • 25 · Other liabilities

    beginning of year $0 · end of year $77,817

  • 27 · Net assets without donor restrictions

    beginning of year $938,802 · end of year $550,820

  • 28 · Net assets with donor restrictions

    end of year $1,471,923

Mission and programs · 2022

Mission

TO FOSTER AND PROMOTE A HEALTHY ECONOMIC CLIMATE AND A HIGHER LEVEL OF PUBLIC ACCEPTANCE OF THE THOROUGHBRED HORSE RACING INDUSTRY. TO WORK FOR THE IMPROVEMENT OF LIVING AND WORKING CONDITIONS FOR THE EMPLOYEES OF MEMBERS AND TO PROVIDE RETIREMENT BENEFITS IF APPLICABLE. TO REPRESENT INTERESTS AND RIGHTS OF ITS MEMBERS IN ANY MATTERS WITH ANY INDUSTRY RELATED ORGANIZATION. TO FORM AND EDUCATE ITS MEMBERS AND OTHER SEGMENTS OF THE INDUSTRY REGARDING ANY MATTER IMPORTANT TO THE INTERESTS OF THE MEMBERS.

Activities or mission (Part I)

SEE SCHEDULE O.THE CALIFORNIA THOROUGHBRED TRAINERS (CTT) IS THE STATE AUTHORIZED ORGANIZATION FORMED FOR THE PURPOSE OF REPRESENTING THE BEST INTERESTS OF ITS MEMBER TRAINERS IN DEALING WITH THE CALIFORNIA HORSE RACING BOARD, THE RACING ASSOCIATIONS, VARIOUS RACING ENTITIES AND THE GENERAL PUBLIC.

  • CALIFORNIA THOROUGHBRED TRAINERS ("CTT") REPRESENTS THE INTERESTS OF THE THOROUGHBRED HORSE RACING TRAINERS AND RACE TRACK WORKERS WHO TEND TO THE HORSES ("BACKSTRETCH WORKERS"). CTT ADMINISTERS A PENSION FUND, PROVIDES RECREATIONAL ACTIVITIES, AND PROVIDES ON-PREMISES CONVENIENCE STORES FOR BACKSTRETCH WORKERS. CTT PROVIDES EDUCATIONAL PROGRAMS FOR TRAINERS. CTT REPRESENTS THE TRAINERS IN NEGOTIATING CONTRACTS AND IN MONITORING LEGISLATION AFFECTING THE HORSE RACING INDUSTRY. CTT ALSO PROVIDES SERVICES AND INFORMATION TO THE RACING PUBLIC TO PROMOTE THOROUGHBRED HORSE RACING.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Eoin Harty

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Gloria Haley

    NORTHERN CALIFORNIA VP

    Total calculated
    $0
    Hours/week
    1

  • David Hofmans

    SOUTHERN CALIFORNIA VP

    Total calculated
    $0
    Hours/week
    1

  • Ray Bell

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Timothy Bellasis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sean McCarthy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ron Ellis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Troy Matthew

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Val Brinkerhoff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alan Balch

    EXECUTIVE DIRECTOR

    Total calculated
    $120,000
    From this org
    $120,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202323189349310377

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