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← THOROUGHBRED RETIREMENT FOUNDATION

Form 990 for tax year 2024

Filed by THOROUGHBRED RETIREMENT FOUNDATION.

Totals

Total revenue
$4,867,011
Total expenses
$2,559,168
Contributions and grants received
$3,996,497
Grants paid
$0
Program service revenue
$600
Investment income
$818,657
Other revenue
$51,257
Total assets, end of year
$14,342,693
Total liabilities, end of year
$177,340
Net assets or fund balances, end of year
$14,165,353
Program services expenses (Part IX)
$1,754,670
Management and general expenses
$360,359
Fundraising expenses
$444,139
Program service expenses (Part III)
$1,754,670

Program services were 68.6% 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.

  • 1f · All other contributions, gifts and grants

    $3,996,497

  • 1g · Noncash contributions included above

    $113,228

  • 2a · Program service revenue: MISC REVENUE

    total $600 · related or exempt $600

  • 3 · Investment income

    total $252,398 · excluded $252,398

  • 7a · Gross sales of assets other than inventory

    securities $1,361,762 · other assets $3,800

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

    securities $795,137 · other assets $4,166

  • 7c · Gain or loss

    securities $566,625 · other assets -$366

  • 7d · Net gain or loss

    total $566,259 · related or exempt -$366 · excluded $566,625

  • 8a · Fundraising events: gross income

    $168,066

  • 8b · Fundraising events: direct expenses

    $116,809

  • 8c · Net income from fundraising events

    total $51,257 · excluded $51,257

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $821,266 · program services $363,447 · management and general $164,650 · fundraising $293,169

  • 8 · Pension plan contributions

    total $75,928 · program services $52,087 · management and general $9,949 · fundraising $13,892

  • 10 · Payroll taxes

    total $56,424 · program services $29,622 · management and general $12,347 · fundraising $14,455

  • 11b · Fees: legal

    total $5,834 · management and general $5,834

  • 11c · Fees: accounting

    total $53,153 · management and general $53,153

  • 12 · Advertising and promotion

    total $10,498 · program services $30 · management and general $2,376 · fundraising $8,092

  • 13 · Office expenses

    total $24,750 · program services $6,425 · management and general $12,137 · fundraising $6,188

  • 17 · Travel

    total $62,264 · program services $31,813 · management and general $15,092 · fundraising $15,359

  • 20 · Interest

    total $1,637 · program services $790 · management and general $505 · fundraising $342

  • 22 · Depreciation, depletion and amortization

    total $63,863 · program services $63,863

  • 23 · Insurance

    total $41,045 · program services $21,731 · management and general $18,496 · fundraising $818

  • 24a · Other expenses: FEED, HAY, AND STRAW

    total $414,786 · program services $414,786 · management and general $0 · fundraising $0

  • 24b · Other expenses: BOARD

    total $277,102 · program services $277,102 · management and general $0 · fundraising $0

  • 24c · Other expenses: VETERINARY AND DENTAL F

    total $129,742 · program services $129,742 · management and general $0 · fundraising $0

  • 24d · Other expenses: BLACKSMITH

    total $84,685 · program services $84,685 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $436,191 · program services $278,547 · management and general $65,820 · fundraising $91,824

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $474,966 · end of year $497,984

  • 3 · Pledges and grants receivable

    beginning of year $81,443 · end of year $131,169

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,197 · end of year $34,007

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

    $1,382,500

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

    $965,212

  • 10c · Land, buildings and equipment, net

    beginning of year $208,512 · end of year $417,288

  • 12 · Investments: other securities

    beginning of year $10,761,106 · end of year $13,257,154

  • 14 · Intangible assets

    beginning of year $25,455 · end of year $5,091

  • 17 · Accounts payable and accrued expenses

    beginning of year $193,465 · end of year $158,305

  • 23 · Secured mortgages and notes payable

    beginning of year $21,051 · end of year $13,674

  • 25 · Other liabilities

    beginning of year $26,277 · end of year $5,361

  • 27 · Net assets without donor restrictions

    beginning of year $1,707,699 · end of year $3,652,948

  • 28 · Net assets with donor restrictions

    beginning of year $9,615,187 · end of year $10,512,405

Mission and programs · 2024

Mission

WE BELIEVE DIGNITY AND COMPASSION ARE THE FOUNDATION OF LIVES WELL LIVED. WE PROVIDE A LIFETIME SANCTUARY FOR THOROUGHBREDS AFTER THEIR RACING CAREERS AS WELL AS OPPORTUNITIYES FOR PEOPLE WISHING TO IMPROVE THEIR WELL-BEING THROUGH THE UNDENIABLE HEALING POWER OF HORSES.

Activities or mission (Part I)

THE MISSION OF THE THOROUGHBRED RETIREMENT FOUNDATION:(CONTINUED ON SCH O)WE BELIEVE DIGNITY AND COMPASSION ARE THE FOUNDATION OF LIVES WELL LIVED. WE PROVIDE A LIFETIME SANCTUARY FOR THOROUGHBREDS AFTER THEIR RACING CAREERS AS WELL AS OPPORTUNITIYES FOR PEOPLE WISHING TO IMPROVE THEIR WELL-BEING THROUGH THE UNDENIABLE HEALING POWER OF HORSES.

  • TRF SECOND CHANCES PROGRAM, A VOCATIONAL TRAINING PROGRAM IN EQUINE CARE AND MANAGEMENT. EARLY IN THE THOROUGHBRED RETIREMENT FOUNDATION'S HISTORY MONIQUE S. KOEHLER, FOUNDER AND CHAIRMAN OF THE BOARD, NEGOTIATED A MILESTONE AGREEMENT WITH THE STATE OF NEW YORK DEPARTMENT OF CORRECTIONAL SERVICES. IN EXCHANGE FOR LAND USE AND LABOR AT THE STATE'S WALLKILL CORRECTIONAL FACILITY, THE THOROUGHBRED RETIREMENT FOUNDATION WOULD DESIGN, STAFF AND MAINTAIN A VOCATIONAL TRAINING PROGRAM IN EQUINE CARE AND MANAGEMENT FOR INCARCERATED INDIVIDUALS. THIS UNIQUE PROGRAM HAS BEEN REPLICATED IN CALIFORNIA, KENTUCKY, FLORIDA, SOUTH CAROLINA, AND MARYLAND AND OFFERS SECOND CHANCES FOR HORSES AND HUMANS. THE TRF ALSO OFFERS LIFETIME SANCTUARY FOR HORSES THAT ARE NOT INCLUDED IN THE SECOND CHANCES PROGRAM.

    Expenses $1,754,670 · Revenue $234

As filed on the 2024 return.

Listed in Part VII

  • Stephanie Brennan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kelsey Marshall Hughes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patrick MacKay

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Maggie Wolfendale Morley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anita Motion

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul Saylor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sarah Stein

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Katie Lamonica

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Katie Davis McCarthy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michelle Keating

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cindy McDonald

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daryl Tropea

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Maggie Sweet

    EXECUTIVE DIRECTOR

    Total calculated
    $98,284
    From this org
    $98,284
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Pat Stickeny

    CFO

    Total calculated
    $42,370
    From this org
    $42,370
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

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
2024
Filed
26 March 2025
IRS schema version
2024v5.1
Source object
202500859349301515

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