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← INDIANA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC

Form 990 for tax year 2024

Filed by INDIANA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC.

Totals

Total revenue
$1,565,822
Total expenses
$1,641,920
Contributions and grants received
$0
Grants paid
$698,806
Program service revenue
$1,541,709
Investment income
$23,413
Other revenue
$700
Total assets, end of year
$1,312,803
Total liabilities, end of year
$18,691
Net assets or fund balances, end of year
$1,294,112
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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: REVENUE PURSUANT TO IC 4-35-7

    total $1,288,216 · related or exempt $1,288,216

  • 2b · Program service revenue: TRACK FEES

    total $178,473 · related or exempt $178,473

  • 2c · Program service revenue: MEMBER DUES

    total $75,020 · related or exempt $75,020

  • 3 · Investment income

    total $23,413 · excluded $23,413

  • 11a · Other revenue: OTHER INCOME

    total $700 · excluded $700

  • 11e · Other revenue, total

    $700

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $90,000

  • 2 · Grants to domestic individuals

    total $608,806

  • 5 · Compensation of officers, directors and key employees

    total $185,286

  • 7 · Other salaries and wages

    total $237,746

  • 10 · Payroll taxes

    total $35,220

  • 11b · Fees: legal

    total $53,329

  • 11c · Fees: accounting

    total $82,076

  • 11d · Fees: lobbying

    total $89,816

  • 12 · Advertising and promotion

    total $48,173

  • 13 · Office expenses

    total $12,047

  • 17 · Travel

    total $21,756

  • 19 · Conferences, conventions and meetings

    total $52,879

  • 21 · Payments to affiliates

    total $32,000

  • 22 · Depreciation, depletion and amortization

    total $18,040

  • 23 · Insurance

    total $13,105

  • 24a · Other expenses: TELEPHONE

    total $13,616

  • 24b · Other expenses: ELECTION EXPENSE

    total $12,691

  • 24c · Other expenses: HISA LEGAL SUPPORT

    total $10,000

  • 24d · Other expenses: POLITICAL CONTRIBUTIONS

    total $8,000

  • 24e · All other expenses

    total $17,334

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $858,408 · end of year $63,661

  • 2 · Savings and temporary cash investments

    beginning of year $313,323 · end of year $1,061,361

  • 4 · Accounts receivable

    beginning of year $120,186 · end of year $115,048

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,536 · end of year $4,884

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

    $210,364

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

    $142,515

  • 10c · Land, buildings and equipment, net

    beginning of year $85,889 · end of year $67,849

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,372 · end of year $17,263

  • 25 · Other liabilities

    beginning of year $2,760 · end of year $1,428

  • 27 · Net assets without donor restrictions

    beginning of year $1,370,210 · end of year $1,294,112

Mission and programs · 2024

Mission

THE ASSOCIATION'S MISSION IS TO PROMOTE, DEVELOP AND IMPROVE THE HORSE RACING INDUSTRY IN INDIANA. THE ASSOCIATION'S MOTTO IS: "WE ARE HORSEMEN HELPING HORSEMEN."

  • THE ASSOCIATION HAD 2,000 MEMBERS IN 2024. THE ASSOCIATION NEGOTIATED AND EXECUTED CONTRACTS FOR THE 2024 RACING SEASON WITH THE INDIANA TRACKS; RECEIVED APPROVAL FROM THE INDIANA HORSE RACING COMMISSION TO BE A REGISTERED HORSEMEN'S ASSOCIATION TO RECIEVE AND DISBURSE FUNDS ON BEHALF OF INDIANA THOROUGHBRED HORSEMEN UNDER INDIANA CODE SECTION 4-35-7-12 FOR 2024; AND PROMOTED THE COMMON BUSINESS INTERESTS OF INDIANA THOROUGHBRED HORSEMEN.

As filed on the 2024 return.

Listed in Part VII

  • Joe Davis

    PRESIDENT

    Total calculated
    $0
    Hours/week
    15

  • Kathryn Kunz-Duran

    1ST VICE PRE

    Total calculated
    $0
    Hours/week
    2

  • Randy Klopp

    2ND VICE PRE

    Total calculated
    $0
    Hours/week
    2

  • Antonio Duran

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sharon Holden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mike Lauer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Penny Lauer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ron McKay

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Austin Nicks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mike Weaver

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Aaron West

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Timothy D Glyshaw

    EXECUTIVE DI

    Total calculated
    $102,429
    From this org
    $102,429
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Lisa E Stephens

    BENEVOLENCE

    Total calculated
    $82,857
    From this org
    $82,857
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Brian J Elmore

    EXEC DIRECT

    Total calculated
    $128,670
    From this org
    $128,670
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
8 August 2025
IRS schema version
2024v5.0
Source object
202512879349301956

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