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Nonprofiteer
← PA THOROUGBRED HORSEMENS ASSOC INC

Form 990 for tax year 2024

Filed by PA THOROUGBRED HORSEMENS ASSOC INC.

Totals

Total revenue
$2,410,086
Total expenses
$1,777,361
Contributions and grants received
$186,640
Grants paid
$0
Program service revenue
$1,669,218
Investment income
$554,228
Other revenue
$0
Total assets, end of year
$10,300,795
Total liabilities, end of year
$8,345,922
Net assets or fund balances, end of year
$1,954,873
Program services expenses (Part IX)
$1,647,149
Management and general expenses
$121,548
Fundraising expenses
$0
Program service expenses (Part III)
$1,647,149

Program services were 92.7% 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

    $186,640

  • 2a · Program service revenue: PROGRAM SERVICES

    total $1,669,218 · related or exempt $1,669,218

  • 3 · Investment income

    total $358,615 · related or exempt $349,233 · unrelated business $9,000 · excluded $382

  • 7a · Gross sales of assets other than inventory

    securities $564,582

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

    securities $368,969

  • 7c · Gain or loss

    securities $195,613

  • 7d · Net gain or loss

    total $195,613 · excluded $195,613

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $490,410 · program services $441,369 · management and general $49,041

  • 7 · Other salaries and wages

    total $198,802 · program services $178,922 · management and general $19,880

  • 10 · Payroll taxes

    total $46,685 · program services $42,016 · management and general $4,669

  • 11b · Fees: legal

    total $148,410 · program services $140,989 · management and general $7,421

  • 11c · Fees: accounting

    total $16,386 · program services $15,567 · management and general $819

  • 11d · Fees: lobbying

    total $129,600 · program services $123,120 · management and general $6,480

  • 11f · Fees: investment management

    total $3,111 · management and general $3,111

  • 12 · Advertising and promotion

    total $86,535 · program services $77,881 · management and general $8,654

  • 13 · Office expenses

    total $25,027 · program services $24,061 · management and general $966

  • 14 · Information technology

    total $41,040 · program services $32,832 · management and general $8,208

  • 17 · Travel

    total $57,023 · program services $57,023

  • 19 · Conferences, conventions and meetings

    total $61,624 · program services $61,624

  • 22 · Depreciation, depletion and amortization

    total $8,664

  • 23 · Insurance

    total $61,143 · program services $40,762 · management and general $20,381

  • 24a · Other expenses: UBTI TAX

    total $779 · management and general $779

  • 24b · Other expenses: THE MATCH SERIES

    total $248,178 · program services $248,178

  • 24c · Other expenses: MEMBER DIRECTED CONTRIB

    total $114,960 · program services $114,960

  • 24d · Other expenses: FLOWERS, GIFTS AND AWAR

    total $65,432 · program services $52,346 · management and general $13,086

  • 24e · All other expenses

    total -$26,448 · program services -$4,501 · management and general -$21,947

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,641,112 · end of year $6,888,718

  • 4 · Accounts receivable

    beginning of year $2,765,543 · end of year $2,339,539

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,633 · end of year $16,476

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

    $374,621

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

    $191,369

  • 10c · Land, buildings and equipment, net

    beginning of year $48,524 · end of year $183,252

  • 11 · Investments: publicly traded securities

    beginning of year $671,971 · end of year $529,454

  • 15 · Other assets

    beginning of year $140,846 · end of year $343,356

  • 17 · Accounts payable and accrued expenses

    beginning of year $206,357 · end of year $214,358

  • 23 · Secured mortgages and notes payable

    end of year $0

  • 25 · Other liabilities

    beginning of year $8,635,140 · end of year $8,131,564

  • 27 · Net assets without donor restrictions

    beginning of year $1,440,132 · end of year $1,954,873

Mission and programs · 2024

Mission

THE PENNSYVANIA THOROUGHBRED HORSEMEN'S ASSOCIATION (PTHA) WORKS HARD TO PROTECT AND PROVIDE FOR THE PARX RACING HORSEMEN THROUGH THE GUARANTEE OF LIVE RACING, HORSEMEN'S RIGHTS, HEALTH CARE AND PENSION FOR HORSEMEN, BENEVOLENCE PROGRAMS, AND MORE.

  • REPRESENTS COMMON BUSINESS INTEREST OF ITS MEMBERS AND PROMOTES THOROUGHBRED RACING.

    Expenses $1,340,741 · Revenue $1,759,401

  • PROMOTE LIVE THOROUGHBRED RACING THROUGH CABLE TV SHOW LET'S GO RACING AND OTHER MARKETING INITIATIVES.

    Expenses $248,178 · Revenue $259,050

  • INFORM MEMBERSHIP OF WHAT IS GOING ON AT NATIONAL, STATE, AND LOCAL LEVELS ON MATTERS EFFECTING THE RACING INDUSTRY THROUGH NEWSLETTERS.

    Expenses $58,230

As filed on the 2024 return.

Listed in Part VII

  • Jeffrey A Matty Jr

    EXECUTIVE DIRECTOR/SECRETA

    Total calculated
    $263,431
    From this org
    $233,400
    From related orgs
    $0
    Other
    $30,031
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $233,400
    Bonus
    $0
    Other
    $0
    Deferred
    $11,670
    Nontaxable benefits
    $18,361
    Filer's total
    $263,431

  • Edward Coletti Jr

    DIRECTOR

    Total calculated
    $37,188
    From this org
    $0
    From related orgs
    $0
    Other
    $37,188
    Hours/week
    3

  • John C Servis

    DIRECTOR

    Total calculated
    $31,284
    From this org
    $0
    From related orgs
    $0
    Other
    $31,284
    Hours/week
    3

  • Kathleen Demasi

    VICE PRESIDENT

    Total calculated
    $25,976
    From this org
    $0
    From related orgs
    $0
    Other
    $25,976
    Hours/week
    3

  • Jack Armstrong

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Charles Asensio

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Scott Lake

    DIRECTOR

    Total calculated
    $36,359
    From this org
    $0
    From related orgs
    $0
    Other
    $36,359
    Hours/week
    3

  • Robert Hutt

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Robert E Reid Jr

    DIRECTOR

    Total calculated
    $32,467
    From this org
    $0
    From related orgs
    $0
    Other
    $32,467
    Hours/week
    3

  • John Fanelli

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • John Julia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Maria Mangini

    DIRECTOR OF OPERATIONS

    Total calculated
    $146,824
    From this org
    $111,005
    From related orgs
    $0
    Other
    $35,819
    Hours/week
    40

  • Victor Collazo

    DIRECTOR OF FINANCE & ACCOUNTING

    Total calculated
    $180,987
    From this org
    $146,005
    From related orgs
    $0
    Other
    $34,982
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,005
    Bonus
    $0
    Other
    $0
    Deferred
    $7,300
    Nontaxable benefits
    $27,682
    Filer's total
    $180,987

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 · 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

No itemized grants to organizations on this return.

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.

  • TURNING FOR HOME INC

    501(C)(3) · RETIREMENT OF RACE HOURSES · PA · controlled entity

  • PTHA CHARITIES INC

    501(C)(3) · PROVIDE ESSENTIALS, EDUCATION AND EXPERIENCES TO STABLE EMPLOYEES AND FAMILY · PA · controlled entity

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HORSEMENS PURCHASING ASSOC INC

    C · SALE OF HORSE PRODUCTS · PA · 100% owned · controlled entity

    Directly controlled by PA THOROUGHBRED HORSEMEN'S ASSOC INC

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202523219349317117

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