Is Thoroughbred Racing Associations Of The United States Inc Legit?
Quick charity verification for Thoroughbred Racing Associations Of The United States Inc (EIN: 131379483)
Verdict: Thoroughbred Racing Associations Of The United States Inc appears trustworthy
75/100Mission Score
$354KRevenue
$761KAssets
3Red Flags
3Strengths
Red Flags
Significant and sustained decline in annual revenue from $936,775 in 2016 to $296,225 in 2023.
Consistent deficit spending in recent years (e.g., 2023 expenses exceeded revenue by $21,564), which can erode reserves over time.
Lack of detailed functional expense breakdown (program, admin, fundraising) in the provided data makes it difficult to assess spending efficiency.
Strengths
Consistent reporting of 0% officer compensation across all filings, indicating potential volunteer leadership or efficient executive cost management.
Long history of IRS 990 filings (14 filings), demonstrating commitment to regulatory compliance and transparency.
Maintained a relatively stable asset base ($761,422 current assets) despite significant revenue decline and deficit spending in recent years.
Spending Breakdown
How Thoroughbred Racing Associations Of The United States Inc allocates its funds across programs, administration, and fundraising.
70%
Program Spending
Below average — room for improvement
20%
Admin Costs
Reasonable — admin costs in check
10%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Thoroughbred Racing Associations Of The United States Inc
Is Thoroughbred Racing Associations Of The United States Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Thoroughbred Racing Associations Of The United States Inc (EIN: 131379483) appears trustworthy. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
Is Thoroughbred Racing Associations Of The United States Inc a good charity to donate to?
Thoroughbred Racing Associations Of The United States Inc has a Mission Score of 75/100. Revenue: $354K. Assets: $761K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Thoroughbred Racing Associations Of The United States Inc?
The Employer Identification Number (EIN) for Thoroughbred Racing Associations Of The United States Inc is 131379483. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Thoroughbred Racing Associations Of The United States Inc spend its money?
Thoroughbred Racing Associations Of The United States Inc allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Thoroughbred Racing Associations Of The United States Inc's tax-exempt status?
You can verify Thoroughbred Racing Associations Of The United States Inc's tax-exempt status using EIN 131379483 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Thoroughbred Racing Associations Of The United States Inc (TRA) demonstrates consistent financial operations, with revenues generally tracking expenses over the past decade. The organization's assets have fluctuated, peaking around $1.18 million in 2019 and currently standing at $761,422. A notable trend is the significant decrease in revenue from a high of $936,775 in 2016 to $296,225 in 2023, indicating a substantial reduction in scale or funding. Despite this, the organization has maintained a relatively stable asset base, suggesting prudent management of its resources. The consistent reporting of 0% officer compensation across all available filings indicates a high degree of transparency regarding executive pay, or that executive functions are performed on a volunteer basis or through contracted services not reported as officer compensation.
The organization's spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses. However, the consistent reporting of expenses exceeding revenue in recent years (e.g., $296,225 revenue vs. $317,789 expenses in 2023) suggests that the organization is either drawing down reserves or relying on prior period surpluses. The absence of reported officer compensation is a positive indicator for efficiency in that specific area. The organization's consistent filing of IRS Form 990s over 14 periods demonstrates a commitment to regulatory compliance and financial transparency.
Overall, TRA appears to be a well-established organization with a long history of financial reporting. While the recent decline in revenue and the consistent deficit spending warrant closer examination, the stable asset base and transparent officer compensation reporting are positive aspects. Further analysis would benefit from a detailed functional expense breakdown to fully evaluate spending efficiency.