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Nonprofiteer
← THOROUGHBRED RETIREMENT FOUNDATION

Form 990 for tax year 2025

Filed by THOROUGHBRED RETIREMENT FOUNDATION.

Totals

Total revenue
$2,457,604
Total expenses
$3,013,204
Contributions and grants received
$2,000,740
Grants paid
$0
Program service revenue
$53,709
Investment income
$196,441
Other revenue
$206,714
Total assets, end of year
$14,535,555
Total liabilities, end of year
$163,634
Net assets or fund balances, end of year
$14,371,921
Program services expenses (Part IX)
$2,125,344
Management and general expenses
$456,786
Fundraising expenses
$431,074
Program service expenses (Part III)
$2,125,344

Program services were 70.5% 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

    $2,000,740

  • 1g · Noncash contributions included above

    $38,467

  • 2a · Program service revenue: SECOND CHANCES

    total $53,709 · related or exempt $53,709

  • 3 · Investment income

    total $167,084 · excluded $167,084

  • 7a · Gross sales of assets other than inventory

    securities $1,933,163 · other assets $49,216

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

    securities $1,947,528 · other assets $5,494

  • 7c · Gain or loss

    securities -$14,365 · other assets $43,722

  • 7d · Net gain or loss

    total $29,357 · related or exempt $43,722 · excluded -$14,365

  • 8a · Fundraising events: gross income

    $272,821

  • 8b · Fundraising events: direct expenses

    $66,107

  • 8c · Net income from fundraising events

    total $206,714 · excluded $206,714

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $848,883 · program services $417,918 · management and general $154,081 · fundraising $276,884

  • 8 · Pension plan contributions

    total $85,592 · program services $71,619 · management and general $13,694 · fundraising $279

  • 10 · Payroll taxes

    total $71,254 · program services $33,867 · management and general $14,572 · fundraising $22,815

  • 11b · Fees: legal

    total $8,245 · management and general $8,245

  • 11c · Fees: accounting

    total $45,000 · management and general $45,000

  • 11g · Fees: other

    total $39,377 · management and general $39,377

  • 12 · Advertising and promotion

    total $9,629 · program services $382 · management and general $594 · fundraising $8,653

  • 13 · Office expenses

    total $13,113 · program services $3,843 · management and general $9,025 · fundraising $245

  • 14 · Information technology

    total $12,504 · program services $340 · management and general $6,279 · fundraising $5,885

  • 16 · Occupancy

    total $39,350 · program services $10,322 · management and general $16,292 · fundraising $12,736

  • 17 · Travel

    total $54,383 · program services $26,860 · management and general $11,929 · fundraising $15,594

  • 20 · Interest

    total $452 · program services $436 · management and general $16

  • 22 · Depreciation, depletion and amortization

    total $65,456 · program services $65,456

  • 23 · Insurance

    total $59,973 · program services $39,286 · management and general $19,624 · fundraising $1,063

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

    total $517,694 · program services $517,694

  • 24b · Other expenses: BOARD EXPENSES

    total $318,076 · program services $315,401 · management and general $143 · fundraising $2,532

  • 24c · Other expenses: VETERINARIAN AND DENTAL

    total $156,170 · program services $156,170

  • 24d · Other expenses: CONTRACT LABOR

    total $146,622 · program services $49,906 · management and general $64,450 · fundraising $32,266

  • 24e · All other expenses

    total $521,431 · program services $415,844 · management and general $53,465 · fundraising $52,122

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $497,984 · end of year $395,278

  • 3 · Pledges and grants receivable

    beginning of year $131,169 · end of year $114,644

  • 9 · Prepaid expenses and deferred charges

    beginning of year $34,007 · end of year $23,147

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

    $1,438,278

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

    $957,009

  • 10c · Land, buildings and equipment, net

    beginning of year $417,288 · end of year $481,269

  • 12 · Investments: other securities

    beginning of year $13,257,154 · end of year $13,521,217

  • 14 · Intangible assets

    beginning of year $5,091 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $158,305 · end of year $163,634

  • 23 · Secured mortgages and notes payable

    beginning of year $13,674

  • 25 · Other liabilities

    beginning of year $5,361

  • 27 · Net assets without donor restrictions

    beginning of year $3,652,948 · end of year $3,699,755

  • 28 · Net assets with donor restrictions

    beginning of year $10,512,405 · end of year $10,672,166

Mission and programs · 2025

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 OPPORTUNITIES FOR PEOPLE WISHING TO IMPROVE THEIR WELL-BEING THROUGH THE UNDENIABLE HEALING POWER OF HORSES.

Activities or mission (Part I)

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 $2,125,344 · Revenue $97,431

As filed on the 2025 return.

Listed in Part VII

  • MAGGIE SWEET

    EXECUTIVE DIRECTOR

    Total calculated
    $127,525
    From this org
    $127,525
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • PATRICK MACKAY

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • PAUL SAYLOR

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • SARAH STEIN

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • DARYL TROPEA

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • STEPHANIE BRENNAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KELSEY MARSHALL HUGHES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATIE LAMONICA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STOWE BURKE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANITA MOTION

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MAGGIE WOLFENDALE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATIE DAVIS MCCARTHY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CINDY MCDONALD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHELLE KEATING

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN CANNIE TERMED 3142025

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PAT STICKENY

    CFO

    Total calculated
    $50,136
    From this org
    $50,136
    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
2025
Filed
1 May 2026
IRS schema version
2025v4.1
Source object
202611219349301811

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