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Nonprofiteer
← MARYLAND HORSE BREEDERS ASSOCIATION INC

Form 990 for tax year 2023

Filed by MARYLAND HORSE BREEDERS ASSOCIATION INC.

Totals

Total revenue
$2,189,510
Total expenses
$1,954,708
Contributions and grants received
$62,770
Grants paid
$30,000
Program service revenue
$2,086,014
Investment income
$9,142
Other revenue
$31,584
Total assets, end of year
$3,090,066
Total liabilities, end of year
$261,005
Net assets or fund balances, end of year
$2,829,061
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,954,708

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.

  • 1b · Membership dues

    $62,770

  • 2a · Program service revenue: PROGRAM SERVICES REVENUE

    total $1,662,786 · related or exempt $1,662,786

  • 2b · Program service revenue: ADVERTISING REVENUE

    total $423,228 · related or exempt $51,245 · unrelated business $371,983

  • 3 · Investment income

    total $29,893 · excluded $29,893

  • 7a · Gross sales of assets other than inventory

    securities $313,767

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

    securities $334,518

  • 7c · Gain or loss

    securities -$20,751

  • 7d · Net gain or loss

    total -$20,751 · related or exempt -$20,751

  • 8a · Fundraising events: gross income

    $15,087

  • 8b · Fundraising events: direct expenses

    $38,518

  • 8c · Net income from fundraising events

    total -$23,431

  • 11a · Other revenue: MHF REIMBURSEMENT

    total $54,449 · related or exempt $54,449

  • 11b · Other revenue: BAD DEBT RECOVERY

    total $566 · related or exempt $566

  • 11e · Other revenue, total

    $55,015

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $30,000

  • 7 · Other salaries and wages

    total $663,030

  • 8 · Pension plan contributions

    total $67,976

  • 9 · Other employee benefits

    total $80,111

  • 10 · Payroll taxes

    total $47,622

  • 11b · Fees: legal

    total $6,170

  • 11c · Fees: accounting

    total $61,045

  • 11d · Fees: lobbying

    total $76,950

  • 11f · Fees: investment management

    total $5,268

  • 12 · Advertising and promotion

    total $91,165

  • 13 · Office expenses

    total $53,453

  • 14 · Information technology

    total $21,846

  • 16 · Occupancy

    total $80,835

  • 17 · Travel

    total $10,261

  • 19 · Conferences, conventions and meetings

    total $4,823

  • 20 · Interest

    total $3,803

  • 22 · Depreciation, depletion and amortization

    total $43,103

  • 23 · Insurance

    total $18,062

  • 24a · Other expenses: ADMINISTRATION MBF EXPENS

    total $151,536

  • 24b · Other expenses: PHOTO AND ARTICLE EXPENSE

    total $110,866

  • 24c · Other expenses: OTHER EXPENSES

    total $72,531

  • 24d · Other expenses: MAGAZINE EXPENSES

    total $69,703

  • 24e · All other expenses

    total $184,549

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $458,036 · end of year $583,408

  • 3 · Pledges and grants receivable

    beginning of year $500,000

  • 4 · Accounts receivable

    beginning of year $455,037 · end of year $582,057

  • 7 · Other notes and loans receivable

    beginning of year $10,978

  • 9 · Prepaid expenses and deferred charges

    beginning of year $91,364 · end of year $80,947

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

    $1,405,489

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

    $284,895

  • 10c · Land, buildings and equipment, net

    beginning of year $1,121,620 · end of year $1,120,594

  • 11 · Investments: publicly traded securities

    beginning of year $639,071 · end of year $723,060

  • 17 · Accounts payable and accrued expenses

    beginning of year $261,982 · end of year $38,150

  • 19 · Deferred revenue

    beginning of year $33,106 · end of year $34,953

  • 23 · Secured mortgages and notes payable

    beginning of year $285,418

  • 25 · Other liabilities

    beginning of year $192,676 · end of year $187,902

  • 27 · Net assets without donor restrictions

    beginning of year $2,502,924 · end of year $2,829,061

Mission and programs · 2023

Mission

TO ENCOURAGE, PROMOTE, PROTECT AND IMPROVE THE HORSE BREEDING INDUSTRY IN MARYLAND. WHILE THE EMPHASIS HAS BEEN PLACED ON THE PRODUCTION OF THOROUGHBRED RACE HORSES, THE MHBA ENCOURAGES ALL SPORTS RELATING TO THE USE OF THE HORSE.

  • THE MARYLAND HORSE BREEDERS ASSOCIATION (MHBA) UTILIZES PUBLICATIONS AS A MEANS OF PROMOTING THE HORSE INDUSTRY AND ENCOURAGING HORSE BREEDING AND PARTICIPATION IN HORSE SPORTS. THE MHBA PUBLISHES THE "MID-ATLANTIC THOROUGHBRED", A FOUR-COLOR MONTHLY MAGAZINE THAT COVERS RACING AND BREEDING IN MARYLAND AND THROUGHOUT THE REGION. IN ADDITION, MHBA PUBLISHES AN ANNUAL GUIDE TO THOROUGHBRED FARMS IN MARYLAND AND VARIOUS POSTERS, BROCHURES AND GUIDES THAT EDUCATE THE PUBLIC ABOUT RACING AND BREEDING IN THE STATE OF MARYLAND.

    Expenses $1,439,724

  • MHBA FUNCTIONS AS AN INFORMATION RESOURCE FOR HORSE BREEDERS AND OWNERS, THE MEDIA, COMMUNITY AND GOVERNMENTAL ORGANIZATIONS, AND THE GENERAL PUBLIC. BREEDERS AND OWNERS REGISTER THEIR MARYLAND BRED HORSES WITH THE ASSOCIATION IN ORDER TO QUALIFY FOR SPECIFIC RACES RESTRICTED TO MARYLAND - BREDS.

  • EDUCATIONAL PROGRAMS HELD FOR MEMBERS AND THE GENERAL PUBLIC TO EDUCATE ON TOPICS RELEVANT TO THE HORSE INDUSTRY.

  • THE MARYLAND HORSE BREEDERS ASSOCIATION (MHBA) UTILIZES PUBLICATIONS AS A MEANS OF PROMOTING THE HORSE INDUSTRY AND ENCOURAGING HORSE BREEDING AND PARTICIPATION IN HORSE SPORTS. THE MHBA PUBLISHES THE "MID-ATLANTIC THOROUGHBRED", A FOUR-COLOR MONTHLY MAGAZINE THAT COVERS RACING AND BREEDING IN MARYLAND AND THROUGHOUT THE REGION. IN ADDITION, MHBA PUBLISHES AN ANNUAL GUIDE TO THOROUGHBRED FARMS IN MARYLAND AND VARIOUS POSTERS, BROCHURES AND GUIDES THAT EDUCATE THE PUBLIC ABOUT RACING AND BREEDING IN THE STATE OF MARYLAND.

    Expenses $514,984 · Grants $30,000

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

Listed in Part VII

  • Cricket Goodall

    EXECUTIVE DI

    Total calculated
    $188,836
    From this org
    $155,315
    From related orgs
    $0
    Other
    $33,521
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $155,315
    Bonus
    not reported
    Other
    not reported
    Deferred
    $23,807
    Nontaxable benefits
    $9,714
    Filer's total
    $188,836

  • George Adams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tj Albert

    DIRECTOR

    Total calculated
    $0

  • William Boniface

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Amy Burk

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael J Harrison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lisa Hofstetter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Christy Holden

    VICE-PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • Tim Hopkins

    DIRECTOR

    Total calculated
    $0

  • Henry Clark III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ann B Jackson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charles C Fenwck Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tk Kuegler

    DIRECTOR

    Total calculated
    $0

  • Grace Merryman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kent A Murray

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Gina Robb

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thomas Rooney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Adair Stifel

    DIRECTOR

    Total calculated
    $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. 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 · Compensation committee
  • 3 · Form 990 of other organizations

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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MHBA HOLDINGS LLC

    RENTAL · MD · assets $849,988

Provenance

Return type
form_990
Tax year
2023
Filed
31 July 2024
IRS schema version
2023v5.0
Source object
202433139349301868

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