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Nonprofiteer
← MARYLAND THOROUGHBRED HORSEMANS ASSOCIATION

Form 990 for tax year 2022

Filed by MARYLAND THOROUGHBRED HORSEMANS ASSOCIATION.

Totals

Total revenue
$1,820,486
Total expenses
$1,759,953
Contributions and grants received
$0
Grants paid
$30,000
Program service revenue
$1,795,421
Investment income
$25,065
Other revenue
$0
Total assets, end of year
$1,772,289
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,772,289
Program services expenses (Part IX)
$1,759,953
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 100.0% 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: HORSEMEN'S PURSE MONEY

    total $1,285,924 · related or exempt $1,285,924

  • 2b · Program service revenue: GATE FEES

    total $346,475 · related or exempt $346,475

  • 2c · Program service revenue: OTHER PROGRAM SERVICES

    total $83,022 · related or exempt $83,022

  • 2d · Program service revenue: COUNSELING PROGRAM

    total $80,000 · related or exempt $80,000

  • 3 · Investment income

    total $25,065 · related or exempt $25,065

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $30,000 · program services $30,000

  • 5 · Compensation of officers, directors and key employees

    total $179,588 · program services $179,588

  • 7 · Other salaries and wages

    total $127,700 · program services $127,700

  • 8 · Pension plan contributions

    total $56,718 · program services $56,718

  • 10 · Payroll taxes

    total $22,509 · program services $22,509

  • 11b · Fees: legal

    total $161,000 · program services $161,000

  • 11c · Fees: accounting

    total $25,121 · program services $25,121

  • 11d · Fees: lobbying

    total $145,000 · program services $145,000

  • 11f · Fees: investment management

    total $3,297 · program services $3,297

  • 12 · Advertising and promotion

    total $4,300 · program services $4,300

  • 13 · Office expenses

    total $72,767 · program services $72,767

  • 14 · Information technology

    total $18,650 · program services $18,650

  • 16 · Occupancy

    total $19,990 · program services $19,990

  • 17 · Travel

    total $27,872 · program services $27,872

  • 19 · Conferences, conventions and meetings

    total $6,387 · program services $6,387

  • 22 · Depreciation, depletion and amortization

    total $21,717 · program services $21,717

  • 23 · Insurance

    total $59,264 · program services $59,264

  • 24a · Other expenses: BENEVOLENCE & COUNSELING

    total $609,281 · program services $609,281

  • 24b · Other expenses: DUES

    total $45,000 · program services $45,000

  • 24c · Other expenses: AUTHORIZED DISBURSEMENTS

    total $42,973 · program services $42,973

  • 24d · Other expenses: NEWSLETTER

    total $24,466 · program services $24,466

  • 24e · All other expenses

    total $56,353 · program services $56,353

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $716,965 · end of year $606,509

  • 4 · Accounts receivable

    beginning of year $123,430 · end of year $224,925

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,013 · end of year $10,013

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

    $153,928

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

    $86,989

  • 10c · Land, buildings and equipment, net

    beginning of year $22,623 · end of year $66,939

  • 11 · Investments: publicly traded securities

    beginning of year $1,060,774 · end of year $863,903

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,427

  • 27 · Net assets without donor restrictions

    beginning of year $2,135,873 · end of year $2,141,351

  • 28 · Net assets with donor restrictions

    beginning of year -$205,495 · end of year -$369,062

Mission and programs · 2022

Mission

ORGANIZED TO PROMOTE THE INTEREST OF THOROUGHBRED RACING IN MARYLAND AND TO REPRESENT ALL HORSEMEN'S INTERESTS AND PROPERTY RIGHTS IN DEALING WITH VARIOUS RACING ASSOCIATIONS, THE RACING COMMISSION, AND THE STATE LEGISLATUTE.

  • TO WORK FOR THE IMROVEMENT OF BUSINESS CONDITIONS OF THOROUGHBRED HORSEMEN AND THEIR EMPLOYEES, TO WORK FOR THE IMPROVEMENT OF THE THOROUGHBRED INDUSTRY AND THOSE PERSONS ENGAGED THEREIN.

  • TO WORK FOR THE IMROVEMENT OF BUSINESS CONDITIONS OF THOROUGHBRED HORSEMEN AND THEIR EMPLOYEES, TO WORK FOR THE IMPROVEMENT OF THE THOROUGHBRED INDUSTRY AND THOSE PERSONS ENGAGED THEREIN.

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

Listed in Part VII

  • David Richardson

    EXECUTIVE DI

    Total calculated
    $227,506
    From this org
    $179,588
    From related orgs
    $0
    Other
    $47,918
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $154,872
    Bonus
    $3,000
    Other
    $21,716
    Deferred
    $35,918
    Nontaxable benefits
    $12,000
    Filer's total
    $227,506

  • A Ferris Allen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ellen M Charles

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lacey A Gaudet

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Linda S Gaudet

    1ST VICE PRE

    Total calculated
    $0
    Hours/week
    3

  • Joann Hayden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michael F Horning

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • R Larry Johnson

    2ND VICE PRE

    Total calculated
    $0
    Hours/week
    3

  • Joseph P Pons Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Timothy L Keefe

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • H Graham Motion

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Charles J Reed

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Philip B Schoenthal

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michael J Trombetta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Katharine M Voss

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Wade

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
10 April 2023
IRS schema version
2022v5.0
Source object
202301299349301305

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