Form 990 for tax year 2022
Filed by NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC.
Totals
- Total revenue
- $1,216,383
- Total expenses
- $901,220
- Contributions and grants received
- $0
- Grants paid
- $2,100
- Program service revenue
- $0
- Investment income
- -$412,396
- Other revenue
- $1,628,779
- Total assets, end of year
- $16,589,886
- Total liabilities, end of year
- $8,148,820
- Net assets or fund balances, end of year
- $8,441,066
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- $901,220
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.
-
3 · Investment income
total $15,889 · excluded $15,889
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $1,000,000
-
6c · Rental income or loss
real property $1,000,000 · personal property $0
-
6d · Net rental income or loss
total $1,000,000 · unrelated business $258,705 · excluded $741,295
-
7a · Gross sales of assets other than inventory
other assets $476,860
-
7b · Less cost or other basis and sales expenses
other assets $905,145
-
7c · Gain or loss
other assets -$428,285
-
7d · Net gain or loss
total -$428,285 · unrelated business -$428,285
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$9,568,139
-
9b · Gaming: direct expenses
$9,912,956
-
9c · Net income from gaming
total -$344,817 · unrelated business -$344,817
-
10a · Gross sales of inventory
$1,390,505
-
10b · Cost of goods sold
$597,849
-
10c · Net income from sales of inventory
total $792,656 · unrelated business $792,656
-
11a · Other revenue: STALLION AUCTION INCOME
total $43,382 · related or exempt $43,382
-
11b · Other revenue: BREED SUPPLEMENT INCOME
total $66,752 · related or exempt $66,752
-
11c · Other revenue: MISCELLANEOUS REVENUE
total $70,806 · related or exempt $70,806
-
11e · Other revenue, total
$180,940
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,100
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $55,000
-
5 · Compensation of officers, directors and key employees
total $64,306
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $52,882
-
8 · Pension plan contributions
total $724
-
9 · Other employee benefits
total $1,769
-
10 · Payroll taxes
total $9,776
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $64,439
-
11d · Fees: lobbying
total $91,858
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $40,393
-
13 · Office expenses
total $22,757
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $23,097
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $56,351
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $8,170
-
24a · Other expenses: PURSE AND TRACK SUBSIDIES
total $276,771
-
24b · Other expenses: DUES AND SUBSCRIPTIONS
total $40,734
-
24c · Other expenses: MISCELLANEOUS
total $30,980
-
24d · Other expenses: STALLION AUCTION EXPENSE
total $22,080
-
24e · All other expenses
total $37,033
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $621,744 · end of year $1,811,460
-
2 · Savings and temporary cash investments
beginning of year $748,503 · end of year $4,080,105
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $15,000 · end of year $225,296
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $7,278
-
9 · Prepaid expenses and deferred charges
beginning of year $0 · end of year $1,150
-
10a · Land, buildings and equipment: cost or other basis
$18,795,528
-
10b · Land, buildings and equipment: accumulated depreciation
$8,330,931
-
10c · Land, buildings and equipment, net
beginning of year $11,063,798 · end of year $10,464,597
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $183,697 · end of year $500,026
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $3,871,317 · end of year $3,496,746
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $982,000
-
25 · Other liabilities
beginning of year $268,128 · end of year $3,170,048
-
27 · Net assets without donor restrictions
beginning of year $8,125,903 · end of year $8,441,066
-
28 · Net assets with donor restrictions
beginning of year $0 · end of year $0
Mission and programs · 2022
Mission
THE PURPOSES OF THE ASSOCIATION ARE AS FOLLOWS: TO FOSTER, PROMOTE, AND OTHERWISE ENCOURAGE A HEALTHIER ECONOMIC CLIMATE AND A HIGHER LEVEL OF PUBLIC ACCEPTANCE OF THE THOROUGHBRED HORSE INDUSTRY IN THE STATE OF NEBRASKA AND BETTER RELATIONS AMONG PARTICIPANTS. TO PROTECT THE SAFETY OF MEMBERS, THEIR STABLE PERSONNEL AND THEIR HORSES BY WORKING WITH THE RACE AREA CONDITIONS, PROPER EMERGENCY PROCEDURES, AND REASONABLE STABLING SCHEDULES. TO REPRESENT THE INTERESTS AND PROPERTY RIGHTS OF ITS MEMBERS IN ANY MATTERS WITH ANY RACING ASSOCIATION, JOCKEY'S ORGANIZATION OR ANY OTHER INDUSTRY-RELATED ORGANIZATION. TO REPRESENT THE GENERAL INTEREST OF ITS MEMBERS IN ANY MATTERS WITH ANY LOCAL, STATE, OR FEDERAL GOVERNMENT AND ANY AGENCY THEROF AND ANY RACING COMMISSION. TO INFORM AND EDUCATE ITS MEMBERS AND OTHER SEGMENTS OF THE HORSE INDUSTRY AND TO FOSTER A BETTER UNDERSTANDING OF THE HORSE INDUSTRY BY THE HORSE RACING COMMUNITY; TO ARRANGE FOR PUBLICATIONS, SEMINARS.
Activities or mission (Part I)
TO FOSTER, PROMOTE, AND ENCOURAGE A HEALTHIER ECONOMIC CLIMATE, A HIGHER LEVEL OF PUBLIC ACCEPTANCE, AND BETTER RELATIONS AMONG PARTICIPANTS OF THE THOROUGHBRED HORSE INDUSTRY
-
FURTHERING THOROUGHBRED RACING ACTIVITIES IN NEBRASKA THROUGH CASH SUPPLEMENTS AT ALL THE NEBRASKA RACETRACKS.
Expenses $846,220 · Grants $2,100
-
PROVIDING MEMBER BENEFITS SUCH AS MEDICAL, FUNERAL, AND BACKSIDE BENEFITS.
Expenses $55,000
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Lynne McNallyLYNNE MCNALLY
CHIEF EXECUTIVE OFFICER
- Total calculated
- $128,615
- From this org
- $116,671
- From related orgs
- $0
- Other
- $11,944
- Hours/week
- 40
-
Lori ThomasLORI THOMAS
SECRETARY/TREASURER/COO
- Total calculated
- $128,610
- From this org
- $111,539
- From related orgs
- $0
- Other
- $17,071
- Hours/week
- 40
-
Larry Donlin SrLARRY DONLIN SR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Schuyler CondonSCHUYLER CONDON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Gerald WollesenGERALD WOLLESEN
PRESIDENT
- Total calculated
- $0
- Hours/week
- 0
-
David AndersonDAVID ANDERSON
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 0
-
Blaine AdamsBLAINE ADAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Nick FudgeNICK FUDGE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Monte HehnkeMONTE HEHNKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Gene McCloudGENE MCCLOUD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Chad McKayCHAD MCKAY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Marissa BlackMARISSA BLACK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Steve HallSTEVE HALL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
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
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202323199349309097
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