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Nonprofiteer
← THE LOUISIANA HORSEMAN'S MEDICAL BENEFIT TRUST

Form 990 for tax year 2022

Filed by THE LOUISIANA HORSEMAN'S MEDICAL BENEFIT TRUST.

Totals

Total revenue
$3,399,671
Total expenses
$3,059,624
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,377,012
Investment income
$8,799
Other revenue
$13,860
Total assets, end of year
$2,361,938
Total liabilities, end of year
$235,596
Net assets or fund balances, end of year
$2,126,342
Program services expenses (Part IX)
$2,294,126
Management and general expenses
$765,498
Fundraising expenses
$0
Program service expenses (Part III)
$2,294,126

Program services were 75.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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.

  • 2a · Program service revenue: MEDICAL BENEFIT REVENU

    total $3,377,012 · related or exempt $3,377,012

  • 3 · Investment income

    total $8,799 · excluded $8,799

  • 11a · Other revenue: OTHER INCOME

    total $13,860 · related or exempt $13,860

  • 11e · Other revenue, total

    $13,860

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,294,126 · program services $2,294,126

  • 11a · Fees: management

    total $702,000 · management and general $702,000

  • 11c · Fees: accounting

    total $32,009 · management and general $32,009

  • 13 · Office expenses

    total $2,104 · management and general $2,104

  • 22 · Depreciation, depletion and amortization

    total $17,185 · management and general $17,185

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $12,000 · management and general $12,000

  • 24b · Other expenses: MISCELLANEOUS

    total $200 · management and general $200

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $785,112 · end of year $1,473,222

  • 2 · Savings and temporary cash investments

    beginning of year $465,708 · end of year $99,431

  • 4 · Accounts receivable

    beginning of year $322,708 · end of year $256,956

  • 9 · Prepaid expenses and deferred charges

    beginning of year $35,000 · end of year $35,000

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

    $451,769

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

    $390,504

  • 10c · Land, buildings and equipment, net

    beginning of year $46,223 · end of year $61,265

  • 11 · Investments: publicly traded securities

    beginning of year $87,159 · end of year $82,451

  • 12 · Investments: other securities

    beginning of year $345,932 · end of year $353,613

  • 17 · Accounts payable and accrued expenses

    beginning of year $300,328 · end of year $235,596

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,787,514 · end of year $2,126,342

Mission and programs · 2022

Mission

TO PROMOTE SOCIAL WELFARE OF INDIVIDUALS IN THE THOROUGHBRED RACING COMMUNITY IN LOUISIANA BY PROVIDING HOSPITAL AND MEDICAL BENEFITS AND RELATED ADMINISTRATIVE EXPENSES.

Activities or mission (Part I)

SEE SCHEDULE O

  • TO ADMINISTER FUNDS FOR THE LOUISIANA HORSEMEN'S MEDICAL BENEFIT PLAN, WHICH PROVIDES FOR HOSPITAL AND MEDICAL BENEFITS AND RELATED ADMINISTRATIVE EXPENSES FOR OWNERS, OWNER/TRAINERS, AND TRAINERS LICENSED TO RACE HORSES IN LOUISIANA AND THEIR EMPLOYEES

    Expenses $2,294,126 · Revenue $3,390,872

As filed on the 2022 return.

Listed in Part VII

  • Don Stemmans

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Kevin Delahoussaye

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Ron Faucheux

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Michele Rodriguez

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Ronnie Ward

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Edwin Fenasci

    EXECUTIVE DIRECTOR

    Total calculated
    $151,472
    From this org
    $0
    From related orgs
    $141,574
    Other
    $9,898
    Hours/week
    12.4 + 27.6 related

    Schedule J breakdown matched by us

    Base
    $0 + $141,574 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $9,898 related
    Filer's total
    $0 + $151,472 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • LOUISIANA HORSEMEN'S PENSION TRUST

    T · NON-QUALIFIED DEFERRED COMPENSATION PLAN · LA

  • HORSEMEN'S INSURANCE ALLIANCE

    C · INVESTMENT/REINSURANCE WORKERS COMPENSATION · CJ

    Directly controlled by HORSEMEN'S ALLIANCE HOLDING INC

  • HORSEMEN'S ALLIANCE HOLDING INC

    C · INVESTMENTS · LA

    Directly controlled by LA HBPA 1993 INC

Provenance

Return type
form_990
Tax year
2022
Filed
23 June 2023
IRS schema version
2022v5.0
Source object
202311889349301166

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