Form 990 for tax year 2023
Filed by KENTUCKY THOROUGHBRED OWNERS AND BREEDERS INC.
Totals
- Total revenue
- $1,275,853
- Total expenses
- $1,200,645
- Contributions and grants received
- $0
- Grants paid
- $107,886
- Program service revenue
- $1,136,645
- Investment income
- $119,704
- Other revenue
- $19,504
- Total assets, end of year
- $2,710,393
- Total liabilities, end of year
- $59,852
- Net assets or fund balances, end of year
- $2,650,541
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
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: REGISTRATION FEES
total $709,563 · related or exempt $709,563
-
2b · Program service revenue: INSURANCE COMM.
total $206,012 · related or exempt $206,012
-
2c · Program service revenue: BUSINESS DEVELOPMENT I
total $138,200 · related or exempt $138,200
-
2d · Program service revenue: PROMOTIONAL ALLOW.
total $50,000 · related or exempt $50,000
-
2e · Program service revenue: MEMBERSHIP DUES
total $32,870 · related or exempt $32,870
-
3 · Investment income
total $34,608 · excluded $34,608
-
7a · Gross sales of assets other than inventory
securities $400,986
-
7b · Less cost or other basis and sales expenses
securities $315,890
-
7c · Gain or loss
securities $85,096
-
7d · Net gain or loss
total $85,096 · excluded $85,096
-
11a · Other revenue: INCOME/(LOSS) FROM SUB
total $19,504 · related or exempt $19,504
-
11e · Other revenue, total
$19,504
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $107,886
-
5 · Compensation of officers, directors and key employees
total $143,473
-
7 · Other salaries and wages
total $178,115
-
9 · Other employee benefits
total $32,341
-
10 · Payroll taxes
total $21,726
-
11b · Fees: legal
total $10,824
-
11c · Fees: accounting
total $29,883
-
11f · Fees: investment management
total $20,584
-
12 · Advertising and promotion
total $43,540
-
13 · Office expenses
total $23,187
-
14 · Information technology
total $17,245
-
16 · Occupancy
total $6,264
-
17 · Travel
total $10,914
-
22 · Depreciation, depletion and amortization
total $4,438
-
23 · Insurance
total $5,152
-
24a · Other expenses: KY THOROUGHBRED PROMOTI
total $135,661
-
24b · Other expenses: BUSINESS DEVELOPMENT EX
total $130,442
-
24c · Other expenses: CHAMPION AWARDS
total $110,035
-
24d · Other expenses: NTRA SAFETY FIRST INITI
total $62,500
-
24e · All other expenses
total $106,435
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $441,880 · end of year $237,950
-
2 · Savings and temporary cash investments
beginning of year $66,510 · end of year $50,443
-
4 · Accounts receivable
beginning of year $39,704 · end of year $94,645
-
9 · Prepaid expenses and deferred charges
beginning of year $1,419 · end of year $8,686
-
10a · Land, buildings and equipment: cost or other basis
$96,704
-
10b · Land, buildings and equipment: accumulated depreciation
$85,932
-
10c · Land, buildings and equipment, net
beginning of year $13,461 · end of year $10,772
-
11 · Investments: publicly traded securities
beginning of year $1,542,522 · end of year $1,819,116
-
12 · Investments: other securities
beginning of year $146,151 · end of year $173,423
-
13 · Investments: program-related
beginning of year $295,854 · end of year $315,358
-
17 · Accounts payable and accrued expenses
beginning of year $125,997 · end of year $43,107
-
19 · Deferred revenue
beginning of year $16,125 · end of year $16,745
-
27 · Net assets without donor restrictions
beginning of year $2,391,541 · end of year $2,628,945
-
28 · Net assets with donor restrictions
beginning of year $13,838 · end of year $21,596
Mission and programs · 2023
Mission
TO ADVERTISE, FOSTER AND PROMOTE THE THOROUGHBRED HORSE INDUSTRY IN THE COMMONWEALTH OF KENTUCKY
-
PROMOTE AND FOSTER THE THOROUGHBRED HORSE INDUSTRY THROUGH ADVERTISEMENT AND AWARENESS ACTIVITIES, SUCH AS VARIOUS TRAINERS AND AWARDS DINNERS, TO HIGHLIGHT THE INDUSTRY ACCOMPLISHMENTS AND PRESENCE IN THE COMMONWEALTH OF KENTUCKY.
-
PROVIDE MONETARY CONTRIBUTIONS TO THOROUGHBRED PROGRAMS IN ORDER TO PROMOTE AND FOSTER THE THOROUGHBRED INDUSTRY IN THE COMMONWEALTH OF KENTUCKY.
As filed on the 2023 return.
Listed in Part VII
-
CHRISTOPHER BAKER
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
WALKER HANCOCK
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
BILL DAUGHERTY
SECRETARY
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
DERMOT RYAN
TREASURER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
J STEPHEN HORN
ASSISTANT TREASURER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
JAMES E BAKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
MICHAEL BANAHAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
CRAIG BANDOROFF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
PRICE BELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
STUART E BROWN II DVM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
PATRICK COSTELLO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
THOMAS DRURY JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
FERGUS GALVIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
ANNE ARCHER HINKLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
PAUL J MCGEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
NEIL PESSIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
KIM SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
T WAYNE SWEEZEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
JEFFERY D THORNBURY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
NED TOFFEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
CLIFFORD BARRY
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
JAMES BELL
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
DARRELL BROWN
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
WADDELL W HANCOCK II
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
NEIL HOWARD
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
WILLIAM LS LANDERS III
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
GARRETT O'ROURKE
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
FRANK PENN JR
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
R ALEX RANKIN
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
DON M ROBINSON
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
FREDERICK J SEITZ
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
R ERIC WALDMAN
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
JOSEPH SEITZ
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
BRAXTON LYNCH
DIRECTOR EMERITUS
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
CHAUNCEY MORRIS
EXECUTIVE DIRECTOR
- Total calculated
- $298,594
- From this org
- $126,990
- From related orgs
- $130,990
- Other
- $40,614
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $122,022 + $126,022 related
- Bonus
- $4,968 + $4,968 related
- Other
- $0
- Deferred
- $6,349 + $6,349 related
- Nontaxable benefits
- $13,958 + $13,958 related
- Filer's total
- $147,297 + $151,297 related
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
- 2 · Substantiation required before reimbursing expenses
- 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
-
$105,000
ROTAVIRUS RESEARCH & "BETTER BLUEGRASS" RESEARCH
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.
-
KENTUCKY THOROUGHBRED ASSOCIATION INC
501(C)6 · ADVERTISE, FOSTER, & PROMOTE THE THOROUGHBRED HORSE INDUSTRY IN KENTUCKY · KY
-
KENTUCKY THOROUGHBRED BUILDING INC
501(C)2 · OWN AND LEASE BUILDING FOR EQUINE RELATED TAX-EXEMPT ENTITIES · KY · controlled entity
Directly controlled by KENTUCKY THOROUGHBRED OWNERS AND BREEDERS INC
-
KENTUCKY THOROUGHBRED OWNERS AND BREEDERS FOUNDATION INC
501(C)3 · SUPPORT AND FUND EQUINE RESEARCH · KY · controlled entity
Directly controlled by KENTUCKY THOROUGHBRED OWNERS AND BREEDERS INC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 29 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202423119349300042
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