Harness Racing Museum And Hall Of Fame
Harness Racing Museum shows consistent asset growth and no reported officer compensation amidst fluctuating revenues.
EIN: 141368198 · Goshen, NY · NTEE: A500 · Updated: 2026-03-28
Is Harness Racing Museum And Hall Of Fame Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Harness Racing Museum And Hall Of Fame directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Harness Racing Museum And Hall Of Fame
Harness Racing Museum And Hall Of Fame (EIN: 141368198) is a nonprofit organization based in Goshen, NY, classified under NTEE code A500. The organization reported total revenue of $4.1M and total assets of $9.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Harness Racing Museum And Hall Of Fame's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Harness Racing Museum And Hall Of Fame with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Harness Racing Museum And Hall Of Fame allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no compensation is paid to officers or it is not reported in this section, which is highly favorable for public trust and resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Harness Racing Museum And Hall Of Fame's IRS 990 filings:
- Significant revenue fluctuation in the latest period ($4,051,054 vs. typical $1-1.8M) without immediate explanation, which could indicate reliance on sporadic large donations.
Strengths
The following positive indicators were identified for Harness Racing Museum And Hall Of Fame:
- Consistent asset growth over the past decade, indicating strong financial management and stability.
- Zero reported officer compensation across all filings, enhancing transparency and trust.
- Expenses generally well-managed and consistent, typically staying within the $1-1.2 million range.
- Positive net income in most years, allowing for reinvestment and asset accumulation.
Frequently Asked Questions about Harness Racing Museum And Hall Of Fame
Is Harness Racing Museum And Hall Of Fame a legitimate charity?
Based on AI analysis of IRS 990 filings, Harness Racing Museum And Hall Of Fame (EIN: 141368198) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Harness Racing Museum And Hall Of Fame spend its money?
Harness Racing Museum And Hall Of Fame directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Harness Racing Museum And Hall Of Fame tax-deductible?
Harness Racing Museum And Hall Of Fame is registered as a tax-exempt nonprofit (EIN: 141368198). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Harness Racing Museum And Hall Of Fame financially stable?
Yes, the organization demonstrates strong financial stability with consistently growing assets, reaching $9,491,621, and revenues generally exceeding expenses over the past decade.
How does the organization manage executive compensation?
The organization reports 0% officer compensation in all available filings, suggesting a volunteer-led executive team or that compensation is not reported in this specific section, which is a positive indicator for resource allocation.
What is the trend in the organization's assets?
Assets have shown a consistent upward trend, growing from $6,420,310 in 201604 to $9,491,621 in the latest period, indicating strong financial health and growth.
Are there significant fluctuations in revenue?
Yes, while revenues typically range from $1 million to $1.8 million, the latest reported revenue of $4,051,054 is a significant increase, suggesting a potential one-time event or large donation.
Filing History
IRS 990 filing history for Harness Racing Museum And Hall Of Fame showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Harness Racing Museum And Hall Of Fame's revenue has grown by 49.9%, moving from $933K to $1.4M. Total assets increased by 62.1% over the same period, from $5.6M to $9.0M. Total functional expenses rose by 1.5%, from $1.2M to $1.2M. In its most recent filing year (2024), Harness Racing Museum And Hall Of Fame reported a surplus of $227K, with revenue exceeding expenses. The organization holds $391K in liabilities against $9.0M in assets (debt-to-asset ratio: 4.3%), resulting in net assets of $8.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $1.4M | $1.2M | $9.0M | $391K | — | View 990 |
| 2023 | $1.0M | $1.2M | $8.5M | $399K | — | View 990 |
| 2022 | $1.9M | $996K | $8.3M | $28K | — | View 990 |
| 2021 | $1.1M | $1.1M | $9.0M | $272K | — | — |
| 2020 | $1.2M | $1.2M | $7.3M | $29K | — | View 990 |
| 2019 | $1.1M | $1.1M | $7.9M | $80K | — | View 990 |
| 2018 | $1.7M | $1.1M | $7.4M | $28K | — | View 990 |
| 2017 | $1.2M | $1.1M | $6.7M | $29K | — | View 990 |
| 2016 | $1.1M | $1.1M | $6.4M | $78K | — | View 990 |
| 2015 | $1.1M | $1.1M | $6.7M | $45K | — | View 990 |
| 2014 | $1.3M | $1.0M | $6.6M | $39K | — | View 990 |
| 2013 | $1.4M | $978K | $6.1M | $61K | — | View 990 |
| 2012 | $900K | $1.1M | $5.4M | $62K | — | View 990 |
| 2011 | $933K | $1.2M | $5.6M | $43K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.4M, expenses of $1.2M, and assets of $9.0M (revenue +36.2% year-over-year).
- 2023: Revenue of $1.0M, expenses of $1.2M, and assets of $8.5M (revenue -45.0% year-over-year).
- 2022: Revenue of $1.9M, expenses of $996K, and assets of $8.3M (revenue +66.5% year-over-year).
- 2021: Revenue of $1.1M, expenses of $1.1M, and assets of $9.0M (revenue -7.0% year-over-year).
- 2020: Revenue of $1.2M, expenses of $1.2M, and assets of $7.3M (revenue +13.9% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.1M, and assets of $7.9M (revenue -38.2% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.1M, and assets of $7.4M (revenue +40.3% year-over-year).
- 2017: Revenue of $1.2M, expenses of $1.1M, and assets of $6.7M (revenue +14.8% year-over-year).
- 2016: Revenue of $1.1M, expenses of $1.1M, and assets of $6.4M (revenue -7.4% year-over-year).
- 2015: Revenue of $1.1M, expenses of $1.1M, and assets of $6.7M (revenue -10.1% year-over-year).
- 2014: Revenue of $1.3M, expenses of $1.0M, and assets of $6.6M (revenue -7.6% year-over-year).
- 2013: Revenue of $1.4M, expenses of $978K, and assets of $6.1M (revenue +53.8% year-over-year).
- 2012: Revenue of $900K, expenses of $1.1M, and assets of $5.4M (revenue -3.6% year-over-year).
- 2011: Revenue of $933K, expenses of $1.2M, and assets of $5.6M.
Data Sources and Methodology
This transparency report for Harness Racing Museum And Hall Of Fame is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.