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← PA THOROUGBRED HORSEMENS ASSOC INC

Form 990 for tax year 2023

Filed by PA THOROUGBRED HORSEMENS ASSOC INC.

Totals

Total revenue
$2,308,839
Total expenses
$1,710,488
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,955,073
Investment income
$353,766
Other revenue
$0
Total assets, end of year
$10,281,629
Total liabilities, end of year
$8,841,497
Net assets or fund balances, end of year
$1,440,132
Program services expenses (Part IX)
$1,590,383
Management and general expenses
$120,105
Fundraising expenses
$0
Program service expenses (Part III)
$1,590,383

Program services were 93.0% 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: PROGRAM SERVICES

    total $1,955,073 · related or exempt $1,955,073

  • 3 · Investment income

    total $343,708 · related or exempt $339,208 · unrelated business $4,500

  • 7a · Gross sales of assets other than inventory

    securities $10,058

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

    securities $0

  • 7c · Gain or loss

    securities $10,058

  • 7d · Net gain or loss

    total $10,058 · excluded $10,058

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $256,120 · program services $230,508 · management and general $25,612

  • 7 · Other salaries and wages

    total $164,399 · program services $147,959 · management and general $16,440

  • 10 · Payroll taxes

    total $28,853 · program services $25,968 · management and general $2,885

  • 11b · Fees: legal

    total $187,738 · program services $178,351 · management and general $9,387

  • 11c · Fees: accounting

    total $42,544 · program services $40,417 · management and general $2,127

  • 11d · Fees: lobbying

    total $132,056 · program services $125,453 · management and general $6,603

  • 11f · Fees: investment management

    total $4,426 · management and general $4,426

  • 11g · Fees: other

    total $750 · program services $712 · management and general $38

  • 12 · Advertising and promotion

    total $57,807 · program services $52,026 · management and general $5,781

  • 13 · Office expenses

    total $37,006 · program services $29,605 · management and general $7,401

  • 14 · Information technology

    total $27,184 · program services $21,747 · management and general $5,437

  • 17 · Travel

    total $4,875 · program services $4,875

  • 19 · Conferences, conventions and meetings

    total $66,353 · program services $66,353

  • 22 · Depreciation, depletion and amortization

    total $3,078 · program services $3,078

  • 23 · Insurance

    total $36,135 · program services $24,210 · management and general $11,925

  • 24a · Other expenses: DONATIONS AND PA DERBY

    total $353,749 · program services $353,749

  • 24b · Other expenses: CONTRACT LABOR

    total $80,477 · program services $72,429 · management and general $8,048

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

    total $68,551 · program services $54,841 · management and general $13,710

  • 24d · Other expenses: PUBLIC RELATIONS

    total $56,743 · program services $56,743

  • 24e · All other expenses

    total $101,644 · program services $101,359 · management and general $285

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,682,399 · end of year $6,641,112

  • 4 · Accounts receivable

    beginning of year $2,943,494 · end of year $2,765,543

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,271 · end of year $13,633

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

    $232,085

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

    $183,561

  • 10c · Land, buildings and equipment, net

    beginning of year $12,036 · end of year $48,524

  • 11 · Investments: publicly traded securities

    beginning of year $1,426,973 · end of year $671,971

  • 15 · Other assets

    beginning of year $44,150 · end of year $140,846

  • 17 · Accounts payable and accrued expenses

    beginning of year $219,140 · end of year $206,357

  • 23 · Secured mortgages and notes payable

    end of year $0

  • 25 · Other liabilities

    beginning of year $8,381,337 · end of year $8,635,140

  • 27 · Net assets without donor restrictions

    beginning of year $525,846 · end of year $1,440,132

Mission and programs · 2023

Mission

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.

  • PROMOTE LIVE THOROUGHBRED RACING THROUGH CABLE TV SHOW LET'S GO RACING

    Expenses $1,204,236 · Revenue $1,559,929

  • REPRESENTING THE MEMBERS IN BUSINESS MATTERS WITH PARX RACING AND WITH PENNSYLVANIA RACING, GAMING AND AGRICULTURE COMMISSIONS.

    Expenses $319,794 · Revenue $389,944

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

    Expenses $66,353 · Revenue $344,408

As filed on the 2023 return.

Listed in Part VII

  • Jeffrey A Matty Jr

    EXECUTIVE DIRECTOR/SECRETA

    Total calculated
    $267,726
    From this org
    $243,528
    From related orgs
    $0
    Other
    $24,198
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,528
    Bonus
    $0
    Other
    $0
    Deferred
    $11,606
    Nontaxable benefits
    $12,592
    Filer's total
    $267,726

  • Edward Coletti Jr

    DIRECTOR

    Total calculated
    $34,842
    From this org
    $0
    From related orgs
    $0
    Other
    $34,842
    Hours/week
    3

  • John C Servis

    DIRECTOR

    Total calculated
    $34,146
    From this org
    $0
    From related orgs
    $0
    Other
    $34,146
    Hours/week
    3

  • Kathleen Demasi

    VICE PRESIDENT

    Total calculated
    $23,957
    From this org
    $0
    From related orgs
    $0
    Other
    $23,957
    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
    $32,203
    From this org
    $0
    From related orgs
    $0
    Other
    $32,203
    Hours/week
    3

  • Robert Hutt

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Robert E Reid Jr

    DIRECTOR

    Total calculated
    $27,045
    From this org
    $0
    From related orgs
    $0
    Other
    $27,045
    Hours/week
    3

  • John Fanelli

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • John Julia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

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

None.

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.

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
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349320010

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