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Nonprofiteer
← GULFSTREAM PARK THOROUGHBRED AFTER RACING PROGRAM INC

Form 990 for tax year 2022

Filed by GULFSTREAM PARK THOROUGHBRED AFTER RACING PROGRAM INC.

Totals

Total revenue
$3,544,349
Total expenses
$3,632,209
Contributions and grants received
$0
Grants paid
$182,708
Program service revenue
$82,576
Investment income
$0
Other revenue
$3,461,773
Total assets, end of year
$66,519
Total liabilities, end of year
$38,001
Net assets or fund balances, end of year
$28,518
Program services expenses (Part IX)
$3,229,168
Management and general expenses
$403,041
Fundraising expenses
$0
Program service expenses (Part III)
$3,229,168

Program services were 88.9% 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: ADMISSION AND PROGRAM INCOME

    total $82,576 · related or exempt $82,576

  • 9a · Gaming: gross income

    $4,501,203

  • 9b · Gaming: direct expenses

    $1,266,203

  • 9c · Net income from gaming

    total $3,235,000 · related or exempt $3,235,000

  • 11a · Other revenue: OTHER REVENUE

    total $226,773 · excluded $226,773

  • 11e · Other revenue, total

    $226,773

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $182,708 · program services $182,708

  • 11b · Fees: legal

    total $27,808 · management and general $27,808

  • 11c · Fees: accounting

    total $19,500 · management and general $19,500

  • 11d · Fees: lobbying

    total $7,427 · management and general $7,427

  • 11g · Fees: other

    total $210,290 · program services $210,290

  • 12 · Advertising and promotion

    total $154,920 · program services $47,334 · management and general $107,586

  • 16 · Occupancy

    total $389,730 · program services $389,730

  • 17 · Travel

    total $1,473 · program services $1,473

  • 23 · Insurance

    total $205,678 · management and general $205,678

  • 24a · Other expenses: SIMULCASTING FEES, SIGN

    total $1,438,249 · program services $1,438,249

  • 24b · Other expenses: REIMBURSED WAGES, PAYRO

    total $749,961 · program services $749,961

  • 24c · Other expenses: OTHER OPERATING

    total $128,515 · program services $128,515

  • 24d · Other expenses: BROADCASTING FEES

    total $35,099 · program services $35,099

  • 24e · All other expenses

    total $80,851 · program services $45,809 · management and general $35,042

Balance sheet

Part X, book values.

  • 4 · Accounts receivable

    beginning of year $174,878 · end of year $66,519

  • 17 · Accounts payable and accrued expenses

    beginning of year $58,500 · end of year $38,001

  • 27 · Net assets without donor restrictions

    beginning of year $116,378 · end of year $28,518

Mission and programs · 2022

Mission

TO ASSIST WITH THE CARE AND PROPER TREATMENT, AS REQUIRED, TO ENSURE THE HEALTH AND SAFETY OF RETIRED RACEHORSES, PROMOTING PUBLIC AWARENESS CONCERNING THE MISTREATMENT OF RETIRED THOROUGHBRED RACE HORSES, AND EDUCATING THE PUBLIC ABOUT AND SUPPORTING INITIATIVES ON PREVENTION OF THE MISTREATMENT OF RETIRED RACEHORSES.

  • IN COORDINATION WITH GULFSTREAM PARK, THE ORGANIZATION WORKS WITH ANIMAL AFTERCARE AND RETIREMENT PROGRAMS TO EVALUATE, RETRAIN, AND REHABILITATE THOROUGHBRED RACEHORSES ONCE THEY LEAVE THEIR RACING CAREER. MANY OF THESE HORSES WILL GO ON TO WORK IN VOCATIONAL AND LIFE SKILL PROGRAMS WITH CHILDREN, ADULTS AND SOME WITH MOUNTED POLICE FORCES AROUND THE WORLD.

    Expenses $182,708 · Grants $182,708

  • LICENSED BY THE STATE OF FLORIDA, GULFSTREAM PARK THOROUGHBRED AFTER RACING PROGRAM, INC., WITH A PERMIT TRANSFERRED UNDER FLORIDA STATUTE 550.3345, CONDUCTS RACING PROGRAMS FOR THOROUGHBRED RACEHORSES. THE ORGANIZATION FUNCTIONS AS AN AGENT TO THE PARI-MUTUEL POOL UNDER FLORIDA STATE LAW. NET INCOME WILL BE USED TO FURTHER THE MISSION OF THE CARE AND PROPER TREATMENT OF RETIRED RACEHORSES AND PROMOTION OF PUBLIC AWARENESS AND EDUCATION.

    Expenses $3,046,460 · Revenue $3,317,576

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

Listed in Part VII

  • WILLIAM BADGETT

    PRESIDENT/CHAIRMAN

    Total calculated
    $0
    Hours/week
    10

  • SHERI HOLMES STIRLING

    SECRETARY

    Total calculated
    $0
    Hours/week
    40

  • JOSHUA ADAMS

    TREASURER

    Total calculated
    $0
    Hours/week
    60

  • MIKE ROGERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • FRED BREI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • STACIE CLARK ROGERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    20

  • BURTON FERNUNG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • PHILIP MATTHEWS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • LONNY POWELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    10

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

Provenance

Return type
form_990
Tax year
2022
Filed
3 August 2023
IRS schema version
2022v5.0
Source object
202342209349301149

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