Form 990 for tax year 2023
Filed by INDIANA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC.
Totals
- Total revenue
- $1,580,285
- Total expenses
- $1,528,347
- Contributions and grants received
- $0
- Grants paid
- $783,545
- Program service revenue
- $1,569,207
- Investment income
- $10,342
- Other revenue
- $736
- Total assets, end of year
- $1,382,342
- Total liabilities, end of year
- $12,132
- Net assets or fund balances, end of year
- $1,370,210
- 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 $1,318,093 · related or exempt $1,318,093
-
2b · Program service revenue: TRACK FEES
total $174,164 · related or exempt $174,164
-
2c · Program service revenue: MEMBER DUES
total $76,950 · related or exempt $76,950
-
3 · Investment income
total $10,342 · excluded $10,342
-
11a · Other revenue: OTHER INCOME
total $736 · excluded $736
-
11e · Other revenue, total
$736
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $102,000
-
2 · Grants to domestic individuals
total $681,545
-
5 · Compensation of officers, directors and key employees
total $207,582
-
7 · Other salaries and wages
total $104,160
-
10 · Payroll taxes
total $26,660
-
11b · Fees: legal
total $30,737
-
11c · Fees: accounting
total $72,692
-
11d · Fees: lobbying
total $87,102
-
12 · Advertising and promotion
total $39,302
-
13 · Office expenses
total $10,790
-
17 · Travel
total $16,550
-
19 · Conferences, conventions and meetings
total $48,376
-
21 · Payments to affiliates
total $35,000
-
22 · Depreciation, depletion and amortization
total $21,116
-
23 · Insurance
total $14,706
-
24a · Other expenses: TELEPHONE
total $9,458
-
24b · Other expenses: POLITICAL CONTRIBUTIONS
total $8,000
-
24c · Other expenses: REPAIRS AND MAINTENANCE
total $5,457
-
24d · Other expenses: SUBSCRIPTIONS
total $2,189
-
24e · All other expenses
total $4,925
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,109,467 · end of year $858,408
-
2 · Savings and temporary cash investments
beginning of year $10,078 · end of year $313,323
-
4 · Accounts receivable
beginning of year $111,930 · end of year $120,186
-
9 · Prepaid expenses and deferred charges
beginning of year $4,621 · end of year $4,536
-
10a · Land, buildings and equipment: cost or other basis
$215,243
-
10b · Land, buildings and equipment: accumulated depreciation
$129,354
-
10c · Land, buildings and equipment, net
beginning of year $107,005 · end of year $85,889
-
17 · Accounts payable and accrued expenses
beginning of year $24,657 · end of year $9,372
-
25 · Other liabilities
beginning of year $172 · end of year $2,760
-
27 · Net assets without donor restrictions
beginning of year $1,318,272 · end of year $1,370,210
Mission and programs · 2023
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 1,400 MEMBERS IN 2023. THE ASSOCIATION NEGOTIATED AND EXECUTED CONTRACTS FOR THE 2023 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 2023; AND PROMOTED THE COMMON BUSINESS INTERESTS OF INDIANA THOROUGHBRED HORSEMEN.
As filed on the 2023 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
-
MIKE LAUER
2ND VICE PRE
- Total calculated
- $0
- Hours/week
- 2
-
RON MCKAY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
PENNY LAUER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
RANDY KLOPP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
CHRIS WALSH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
ANTONIO DURAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
CYNTHIA GASTEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
JAY HOLDEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
SCOTT MULLINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
BRIAN J ELMORE
EXECUTIVE DI
- Total calculated
- $128,670
- From this org
- $128,670
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
LISA E STEPHENS
BENEVOLENCE
- Total calculated
- $78,912
- From this org
- $78,912
- 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
-
HORSE RETIREMENT
-
HORSE RETIREMENT
-
JOCKEY ASSISTANCE
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.
-
C 4 · WELFARE · IN
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 August 2024
- IRS schema version
- 2023v5.0
- Source object
- 202432299349300413
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