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Nonprofiteer
← THOROUGHBRED RETIREMENT FOUNDATION

Form 990 for tax year 2023

Filed by THOROUGHBRED RETIREMENT FOUNDATION.

Totals

Total revenue
$2,962,392
Total expenses
$2,401,434
Contributions and grants received
$2,342,647
Grants paid
$0
Program service revenue
$0
Investment income
$549,747
Other revenue
$69,998
Total assets, end of year
$11,563,679
Total liabilities, end of year
$240,793
Net assets or fund balances, end of year
$11,322,886
Program services expenses (Part IX)
$1,561,423
Management and general expenses
$389,632
Fundraising expenses
$450,379
Program service expenses (Part III)
$1,561,423

Program services were 65.0% 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.

  • 1f · All other contributions, gifts and grants

    $2,342,647

  • 1g · Noncash contributions included above

    $87,950

  • 3 · Investment income

    total $206,058 · excluded $206,058

  • 7a · Gross sales of assets other than inventory

    securities $1,254,916

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

    securities $911,227

  • 7c · Gain or loss

    securities $343,689

  • 7d · Net gain or loss

    total $343,689 · excluded $343,689

  • 8a · Fundraising events: gross income

    $256,755

  • 8b · Fundraising events: direct expenses

    $186,757

  • 8c · Net income from fundraising events

    total $69,998 · excluded $69,998

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $787,956 · program services $371,866 · management and general $169,490 · fundraising $246,600

  • 8 · Pension plan contributions

    total $83,934 · program services $52,999 · management and general $28,931 · fundraising $2,004

  • 10 · Payroll taxes

    total $56,986 · program services $29,266 · management and general $13,866 · fundraising $13,854

  • 11b · Fees: legal

    total $1,330 · management and general $1,330

  • 11c · Fees: accounting

    total $62,775 · management and general $62,775

  • 12 · Advertising and promotion

    total $37,908 · program services $20 · management and general $387 · fundraising $37,501

  • 13 · Office expenses

    total $16,822 · program services $5,533 · management and general $8,260 · fundraising $3,029

  • 17 · Travel

    total $59,627 · program services $24,373 · management and general $19,297 · fundraising $15,957

  • 20 · Interest

    total $2,833 · program services $1,197 · management and general $876 · fundraising $760

  • 22 · Depreciation, depletion and amortization

    total $54,903 · program services $54,903

  • 23 · Insurance

    total $44,954 · program services $25,152 · management and general $18,394 · fundraising $1,408

  • 24a · Other expenses: BOARD

    total $336,588 · program services $336,588 · management and general $0 · fundraising $0

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

    total $269,289 · program services $269,289 · management and general $0 · fundraising $0

  • 24c · Other expenses: VETERINARY AND DENTAL F

    total $117,811 · program services $117,811 · management and general $0 · fundraising $0

  • 24d · Other expenses: CONTRACT LABOR

    total $99,277 · program services $31,062 · management and general $18,860 · fundraising $49,355

  • 24e · All other expenses

    total $368,441 · program services $241,364 · management and general $47,166 · fundraising $79,911

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $536,743 · end of year $474,966

  • 3 · Pledges and grants receivable

    beginning of year $71,164 · end of year $81,443

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,236 · end of year $12,197

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

    $1,110,694

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

    $902,182

  • 10c · Land, buildings and equipment, net

    beginning of year $185,831 · end of year $208,512

  • 12 · Investments: other securities

    beginning of year $9,252,221 · end of year $10,761,106

  • 14 · Intangible assets

    beginning of year $45,819 · end of year $25,455

  • 17 · Accounts payable and accrued expenses

    beginning of year $164,064 · end of year $193,465

  • 23 · Secured mortgages and notes payable

    beginning of year $28,147 · end of year $21,051

  • 25 · Other liabilities

    beginning of year $46,356 · end of year $26,277

  • 27 · Net assets without donor restrictions

    beginning of year $1,162,793 · end of year $1,707,699

  • 28 · Net assets with donor restrictions

    beginning of year $8,701,654 · end of year $9,615,187

Mission and programs · 2023

Mission

RESCUE OF UNWANTED THOROUGHBRED HORSES AND RE-ENTRY ORIENTED PROGRAM FOR INAMTES.

Activities or mission (Part I)

RESCUE OF UNWANTED THOROUGHBRED HORSES AND RE-ENTRY ORIENTED PROGRAM FOR INMATES.

  • VOCATIONAL TRAINING PROGRAM IN HORSE CARE FOR INMATES. 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 WALKILL CORRECTIONAL FACILITY, THE THOROUGHBRED RETIREMENT FOUNDATION WOULD DESIGN, STAFF AND MAINTAIN A VOCATIONAL TRAINING PROGRAM IN EQUINE CARE AND MANAGEMENT FOR INMATES. THIS UNIQUE PROGRAM HAS BEEN REPLICATED IN CALIFORNIA, KENTUCKY, FLORIDA, SOUTH CAROLINA, ILLINOIS, VIRGINIA, AND MARYLAND. THIS IS A VOCATIONAL TRAINING PROGRAM IN EQUINE CARE AND MANAGEMENT FOR INMATE-STUDENTS MARKETABLE SKILLS FOR EMPLOYMENT UPON RELEASE FROM PRISON. THIS PROGRAM IS UNIQUE IN THAT IT SAVES THOROUGHBRED HORSES NO LONGER ABLE TO COMPETE ON THE RACETRACK FROM POSSIBLE NEGLECT, ABUSE AND SLAUGHTER AND MATCHES THEM WITH INMATE-STUDENTS ALSO SEEKING A SECOND CHANCE. EQUINE RESCUE AND REHABILITATION. THE VAST MAJORITY OF THE GENERAL PUBLIC AND MANY RACING FANS ARE UNAWARE OF THE SAD FATE THAT AWAITS THOUSANDS OF THOROUGHBREDS EACH YEAR. THEY ASSUME EACH ANIMAL IS ASSURED A SAFE HUMANE RETIREMENT. UNFORTUNATELY, IT IS A PERCEPTION THAT DOES NOT REFLECT REALITY. REALITY IS THE THOROUGHBRED INDUSTRY, OUTSIDE THE CIRCUIT OF HIGH PROFILE, HIGH DOLLAR RACES, IS MADE UP LARGELY OF OWNERS WITH ONLY MODEST RESOURCES. CURRENT ECONOMICS DICTATE THAT AMONT ALL OWNERS, NO MATTER HOW RESPONSIBLE AND WELL INTENDED, ONLY A FEW MAINTAIN EVEN A SINGLE THOROUGHBRED ONCE IT IS UNABLE TO EARN ITS KEEP ON THE TRACK. REALITY IS A WORLD WHERE HORSEMEAT IS IN DEMAND IN MANY FOREIGN COUNTRIES AND THERE ARE SEVERAL SLAUGHTERHOUSES IN CANADA AND MEXICO HAPPY TO CREATE SUPPLY. THOROUGHBRED RETIREMENT FOUNDATION OFTEN HAS TO TRANSPORT HORSES IN DESPERATE NEED AND THEN PROVIDE EXTRA CARE TO GET THEM BACK TO HEALTH. THOROUGHBRED RETRAINING AND ADOPTION PROGRAM. MANY OF THE HORSES RESCUED BY THE THOROUGHBRED RETIREMENT FOUNDATION OR RETIRED TO THE THOROUGHBRED RETIREMENT FOUNDATION ARE HEALTHY AND ABLE TO HAVE "SECOND CAREERS" AS PLEASURE OR SHOW-HORSES. THESE HORSES ARE EVALUATED AND RETRAINED BY THOROUGHBRED RETIREMENT FOUNDATION EMPLOYEES SO THAT WE KNOW THE HORSE'S CAPABILITIES AND CAN PLACE THE HORSE IN A LONG TERM SUCCESSFUL ADOPTION.

    Expenses $1,561,423

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • STEPHANIE BRENNAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • NICHOLAS MEITTINIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • JOHN B CANNIE ESQ

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • LARRY HOLMES

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • KELSEY MARSHALL HUGHES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • PATRICK MACKAY

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0

  • MAGGIE WOLFENDALE MORLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • ANITA MOTION

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • PAUL SAYLOR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • SARAH STEIN

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • KATIE LAMONICA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • PAT STICKENY

    EXECUTIVE DIRECTOR

    Total calculated
    $66,192
    From this org
    $66,192
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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
2023
Filed
27 September 2024
IRS schema version
2023v5.1
Source object
202412759349300636

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