Form 990 for tax year 2022
Filed by THOROUGHBRED RETIREMENT FOUNDATION.
Totals
- Total revenue
- $1,901,253
- Total expenses
- $2,250,863
- Contributions and grants received
- $1,761,096
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $5,746
- Other revenue
- $134,411
- Total assets, end of year
- $10,103,014
- Total liabilities, end of year
- $238,567
- Net assets or fund balances, end of year
- $9,864,447
- Program services expenses (Part IX)
- $1,475,810
- Management and general expenses
- $310,203
- Fundraising expenses
- $464,850
- Program service expenses (Part III)
- $1,475,810
Program services were 65.6% 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
$1,761,096
-
3 · Investment income
total $4,809 · excluded $4,809
-
7a · Gross sales of assets other than inventory
other assets $12,000
-
7b · Less cost or other basis and sales expenses
other assets $11,063
-
7c · Gain or loss
other assets $937
-
7d · Net gain or loss
total $937 · related or exempt $937
-
8a · Fundraising events: gross income
$162,226
-
8b · Fundraising events: direct expenses
$30,215
-
8c · Net income from fundraising events
total $132,011 · excluded $132,011
-
11a · Other revenue: MISCELLANEOUS
total $2,400 · related or exempt $2,400
-
11e · Other revenue, total
$2,400
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $735,857 · program services $347,130 · management and general $117,639 · fundraising $271,088
-
9 · Other employee benefits
total $50,587 · program services $29,429 · management and general $15,793 · fundraising $5,365
-
10 · Payroll taxes
total $60,601 · program services $29,177 · management and general $9,373 · fundraising $22,051
-
11c · Fees: accounting
total $49,653 · management and general $49,653
-
12 · Advertising and promotion
total $46,408 · program services $160 · management and general $7,845 · fundraising $38,403
-
13 · Office expenses
total $27,628 · program services $2,276 · management and general $12,064 · fundraising $13,288
-
14 · Information technology
total $1,994 · management and general $1,176 · fundraising $818
-
16 · Occupancy
total $9,305 · program services $5,000 · management and general $2,705 · fundraising $1,600
-
17 · Travel
total $33,469 · program services $12,520 · management and general $8,613 · fundraising $12,336
-
20 · Interest
total $2,982 · program services $1,362 · management and general $888 · fundraising $732
-
22 · Depreciation, depletion and amortization
total $71,623 · program services $56,349 · management and general $7,637 · fundraising $7,637
-
23 · Insurance
total $38,302 · program services $20,447 · management and general $17,068 · fundraising $787
-
24a · Other expenses: BOARD
total $364,368 · program services $364,368
-
24b · Other expenses: FEED, HAY AND STRAW
total $241,739 · program services $241,739
-
24c · Other expenses: VETERINARY AND DENTAL FEE
total $93,337 · program services $93,337
-
24d · Other expenses: SUPPLIES
total $69,803 · program services $63,408 · management and general $2,421 · fundraising $3,974
-
24e · All other expenses
total $353,207 · program services $209,108 · management and general $57,328 · fundraising $86,771
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $688,302 · end of year $536,743
-
3 · Pledges and grants receivable
beginning of year $233,093 · end of year $71,164
-
9 · Prepaid expenses and deferred charges
beginning of year $7,867 · end of year $11,236
-
10a · Land, buildings and equipment: cost or other basis
$1,046,827
-
10b · Land, buildings and equipment: accumulated depreciation
$860,996
-
10c · Land, buildings and equipment, net
beginning of year $187,663 · end of year $185,831
-
11 · Investments: publicly traded securities
beginning of year $10,560,017 · end of year $9,252,221
-
14 · Intangible assets
end of year $45,819
-
17 · Accounts payable and accrued expenses
beginning of year $172,464 · end of year $164,064
-
23 · Secured mortgages and notes payable
beginning of year $34,925 · end of year $28,147
-
25 · Other liabilities
end of year $46,356
-
27 · Net assets without donor restrictions
beginning of year $903,900 · end of year $1,162,793
-
28 · Net assets with donor restrictions
beginning of year $10,565,653 · end of year $8,701,654
Mission and programs · 2022
Mission
RESCUE OF UNWANTED THOROUGHBRED HORSES AND RE-ENTRY ORIENTED PROGRAM FOR INMATES
-
VOCATIONAL TRAINING PROGRAM IN HORSE CARE FOR INMATES. 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 WALKILL CORRECTIONAL FACILITY, THE THOROUGHBRED RETIREMENT FOUNDATION WOULD DESIGN, STAFF AND MAINTAIN A VOCATIONAL TRAINING PROGRAM IN EQUINE CARE AND MANAGEMENT FOR INMATES. THIS UNIQUE PROGRAM HAS BEEN REPLICATED IN CALIFORNIA, KENTUCKY, FLORIDA, SOUTH CAROLINA, ILLINOIS, VIRGINIA, AND MARYLAND. THIS IS A VOCATIONAL TRAINING PROGRAM IN EQUINE CARE AND MANAGEMENT FOR INMATE-STUDENTS. THE GOAL OF THIS PROGRAM IS TO TEACH INMATE-STUDENTS MARKETABLE SKILLS FOR EMPLOYMENT UPON RELEASE FROM PRISON. THIS PROGRAM IS UNIQUE IN THAT IT SAVES THOROUGHBRED HORSES NO LONGER ABLE TO COMPETE ON THE RACETRACK FROM POSSIBLE NEGLECT, ABUSE AND SLAUGHTER AND MATCHES THEM WITH INMATE-STUDENTS ALSO SEEKING A SECOND CHANCE. EQUINE RESCUE AND REHABILITATION. THE VAST MAJORITY OF THE GENERAL PUBLIC AND MANY RACING FANS ARE UNAWARE OF THE SAD FATE THAT AWAITS THOUSANDS OF THOROUGHBREDS EACH YEAR. THEY ASSUME EACH ANIMAL IS ASSURED A SAFE HUMANE RETIREMENT. UNFORTUNATELY, IT IS A PERCEPTION THAT DOES NOT REFLECT REALITY. REALITY IS THE THOROUGHBRED INDUSTRY, OUTSIDE THE CIRCUIT OF HIGH PROFILE, HIGH DOLLAR RACES, IS MADE UP LARGELY OF OWNERS WITH ONLY MODEST RESOURCES. CURRENT ECONOMICS DICTATE THAT AMONG ALL OWNERS, NO MATTER HOW RESPONSIBLE AND WELL INTENDED, ONLY A FEW MAINTAIN EVEN A SINGLE THOROUGHBRED ONCE IT IS UNABLE TO EARN ITS KEEP ON THE TRACK. REALITY IS A WORLD WHERE HORSEMEAT IS IN DEMAND IN MANY FOREIGN COUNTRIES AND THERE ARE SEVERAL SLAUGHTERHOUSES IN CANADA AND MEXICO HAPPY TO CREATE SUPPLY. THOROUGHBRED RETIREMENT FOUNDATION OFTEN HAS TO TRANSPORT HORSES IN DESPERATE NEED AND THEN PROVIDE EXTRA CARE TO GET THEM BACK TO HEALTH. THOROUGHBRED RETRAINING AND ADOPTION PROGRAM. MANY OF THE HORSES RESCUED BY THE THOROUGHBRED RETIREMENT FOUNDATION OR RETIRED TO THE THOROUGHBRED RETIREMENT FOUNDATION ARE HEALTHY AND ABLE TO HAVE "SECOND CAREERS" AS PLEASURE OR SHOW-HORSES. THESE HORSES ARE EVALUATED AND RETRAINED BY THOROUGHBRED RETIREMENT FOUNDATION EMPLOYEES SO THAT WE KNOW THE HORSE'S CAPABILITIES AND CAN PLACE THE HORSE IN A LONG TERM SUCCESSFUL ADOPTION.
Expenses $1,419,461
-
VOCATIONAL TRAINING PROGRAM IN HORSE CARE FOR INMATES. EARLY IN THEVOCATIONAL TRAINING PROGRAM IN HORSE CARE FOR INMATES. 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 WALKILL CORRECTIONAL FACILITY, THE THOROUGHBRED RETIREMENT FOUNDATION WOULD DESIGN, STAFF AND MAINTAIN A VOCATIONAL TRAINING PROGRAM IN EQUINE CARE AND MANAGEMENT FOR INMATES. THIS UNIQUE PROGRAM HAS BEEN REPLICATED IN CALIFORNIA, KENTUCKY, FLORIDA, SOUTH CAROLINA, ILLINOIS, VIRGINIA, AND MARYLAND. THIS IS A VOCATIONAL TRAINING PROGRAM IN EQUINE CARE AND MANAGEMENT FOR INMATE-STUDENTS. THE GOAL OF THIS PROGRAM IS TO TEACH INMATE-STUDENTS MARKETABLE SKILLS FOR EMPLOYMENT UPON RELEASE FROM PRISON. THIS PROGRAM IS UNIQUE IN THAT IT SAVES THOROUGHBRED HORSES NO LONGER ABLE TO COMPETE ON THE RACETRACK FROM POSSIBLE NEGLECT, ABUSE AND SLAUGHTER AND MATCHES THEM WITH INMATE-STUDENTS ALSO SEEKING A SECOND CHANCE. EQUINE RESCUE AND REHABILITATION. THE VAST MAJORITY OF THE GENERAL PUBLIC AND MANY RACING FANS ARE UNAWARE OF THE SAD FATE THAT AWAITS THOUSANDS OF THOROUGHBREDS EACH YEAR. THEY ASSUME EACH ANIMAL IS ASSURED A SAFE HUMANE RETIREMENT. UNFORTUNATELY, IT IS A PERCEPTION THAT DOES NOT REFLECT REALITY. REALITY IS THE THOROUGHBRED INDUSTRY, OUTSIDE THE CIRCUIT OF HIGH PROFILE, HIGH DOLLAR RACES, IS MADE UP LARGELY OF OWNERS WITH ONLY MODEST RESOURCES. CURRENT ECONOMICS DICTATE THAT AMONG ALL OWNERS, NO MATTER HOW RESPONSIBLE AND WELL INTENDED, ONLY A FEW MAINTAIN EVEN A SINGLE THOROUGHBRED ONCE IT IS UNABLE TO EARN ITS KEEP ON THE TRACK. REALITY IS A WORLD WHERE HORSEMEAT IS IN DEMAND IN MANY FOREIGN COUNTRIES AND THERE ARE SEVERAL SLAUGHTERHOUSES IN CANADA AND MEXICO HAPPY TO CREATE SUPPLY. THOROUGHBRED RETIREMENT FOUNDATION OFTEN HAS TO TRANSPORT HORSES IN DESPERATE NEED AND THEN PROVIDE EXTRA CARE TO GET THEM BACK TO HEALTH. THOROUGHBRED RETRAINING AND ADOPTION PROGRAM. MANY OF THE HORSES RESCUED BY THE THOROUGHBRED RETIREMENT FOUNDATION OR RETIRED TO THE THOROUGHBRED RETIREMENT FOUNDATION ARE HEALTHY AND ABLE TO HAVE "SECOND CAREERS" AS PLEASURE OR SHOW-HORSES. THESE HORSES ARE EVALUATED AND RETRAINED BY THOROUGHBRED RETIREMENT FOUNDATION EMPLOYEES SO THAT WE KNOW THE HORSE'S CAPABILITIES AND CAN PLACE THE HORSE IN A LONG TERM SUCCESSFUL ADOPTION.
Expenses $56,349
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
PAT STICKNEY
EXECUTIVE DI
- Total calculated
- $100,947
- From this org
- $100,947
- From related orgs
- $0
- Other
- $0
-
STEPHANIE BRENNAN
DIRECTOR
- Total calculated
- $0
-
NICHOLAS MEITTINIS DVM
DIRECTOR
- Total calculated
- $0
-
JOHN B CANNIE ESQ
PRESIDENT
- Total calculated
- $0
-
LARRY HOLMES
TREASURER
- Total calculated
- $0
-
KELSEY MARSHALL HUGHES
DIRECTOR
- Total calculated
- $0
-
KATIE LAMONICA
DIRECTOR
- Total calculated
- $0
-
PATRICK MACKAY
CHAIRMAN
- Total calculated
- $0
-
MAGGIE WOLFENDALE MORLEY
DIRECTOR
- Total calculated
- $0
-
ANITA MOTION
DIRECTOR
- Total calculated
- $0
-
PAUL SAYLOR
DIRECTOR
- Total calculated
- $0
-
SARAH STEIN
SECRETARY
- Total calculated
- $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
- 25 March 2023
- IRS schema version
- 2022v5.0
- Source object
- 202310889349301221
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