Minnesota Harness Racing Inc
EIN: 410800026 · Janesville, MN · NTEE: Y12
| Metric | Value |
|---|---|
| Total Revenue | $458K |
| Total Expenses | $362K |
| Net Assets | $233K |
Is Minnesota Harness Racing Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Minnesota Harness Racing Inc
Minnesota Harness Racing Inc (EIN: 410800026) is a nonprofit organization based in Janesville, MN, classified under NTEE code Y12. The organization reported total revenue of $458K and total assets of $225K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Minnesota Harness Racing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Minnesota Harness Racing Inc is a small nonprofit that has been operating for 12 years, with 15 years of IRS 990 filings on record (2008–2023). Revenue has grown at a compound annual rate of 6.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $439K |
| Total Expenses | $362K |
| Surplus / Deficit | +$77K |
| Total Assets | $233K |
| Net Assets | $233K |
| Operating Margin | 17.6% |
| Months of Reserves | 7.7 months |
Financial Health Grade: A
In 2023, Minnesota Harness Racing Inc reported a surplus of $77K with revenue exceeding expenses, holds 7.7 months of operating reserves (strong position).
Financial Trends
Over 15 years of filings (2008–2023), Minnesota Harness Racing Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -20.1% | -30.3% | +49.7% |
| 2022 | +18.9% | +22.8% | +24.5% |
| 2021 | -0.6% | -8.7% | +46.1% |
| 2020 | -6.0% | -3.7% | +1.9% |
| 2019 | +85.8% | +31.6% | +19.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2014 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Minnesota Harness Racing Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Minnesota Harness Racing Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $77K, with revenue exceeding expenses.
Frequently Asked Questions about Minnesota Harness Racing Inc
Is Minnesota Harness Racing Inc a legitimate charity?
Minnesota Harness Racing Inc (EIN: 410800026) is a registered tax-exempt nonprofit based in Minnesota. It has 15 years of IRS 990 filings on record. Total revenue: $458K. No red flags identified. Financial health grade: A.
How does Minnesota Harness Racing Inc spend its money?
Minnesota Harness Racing Inc reported $458K in total revenue in IRS 990 filings. 15 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Minnesota Harness Racing Inc tax-deductible?
Minnesota Harness Racing Inc is registered as a tax-exempt nonprofit (EIN: 410800026). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Minnesota Harness Racing Inc located?
Minnesota Harness Racing Inc is headquartered in Janesville, Minnesota and files with the IRS under EIN 410800026. It is classified under NTEE code Y12.
How many years of IRS 990 filings does Minnesota Harness Racing Inc have?
Minnesota Harness Racing Inc has 15 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $458K in total revenue.
Filing History
IRS 990 filing history for Minnesota Harness Racing Inc showing financial trends over 15 years of public records:
Over 15 years of IRS 990 filings (2008–2023), Minnesota Harness Racing Inc's revenue has grown by 156.7%, moving from $171K to $439K. Total assets increased by 8185.5% over the same period, from $3K to $233K. Total functional expenses rose by 112.1%, from $171K to $362K. In its most recent filing year (2023), Minnesota Harness Racing Inc reported a surplus of $77K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $439K | $362K | $233K | $0 | — | — |
| 2022 | $550K | $519K | $155K | $0 | — | View 990 |
| 2021 | $462K | $423K | $125K | $0 | — | View 990 |
| 2020 | $465K | $463K | $85K | $0 | — | View 990 |
| 2019 | $495K | $481K | $84K | $0 | — | View 990 |
| 2018 | $266K | $366K | $70K | $0 | — | View 990 |
| 2017 | $355K | $324K | $170K | $0 | — | View 990 |
| 2016 | $373K | $346K | $139K | $0 | — | View 990 |
| 2015 | $444K | $346K | $113K | $0 | — | View 990 |
| 2014 | $405K | $428K | $15K | $0 | — | View 990 |
| 2013 | $422K | $418K | $37K | $0 | — | View 990 |
| 2011 | $324K | $319K | $61K | $0 | — | View 990 |
| 2010 | $421K | $395K | $56K | $0 | — | View 990 |
| 2009 | $231K | $212K | $30K | $0 | — | View 990 |
| 2008 | $171K | $171K | $3K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $439K, expenses of $362K, and assets of $233K (revenue -20.1% year-over-year).
- 2022: Revenue of $550K, expenses of $519K, and assets of $155K (revenue +18.9% year-over-year).
- 2021: Revenue of $462K, expenses of $423K, and assets of $125K (revenue -0.6% year-over-year).
- 2020: Revenue of $465K, expenses of $463K, and assets of $85K (revenue -6.0% year-over-year).
- 2019: Revenue of $495K, expenses of $481K, and assets of $84K (revenue +85.8% year-over-year).
- 2018: Revenue of $266K, expenses of $366K, and assets of $70K (revenue -24.9% year-over-year).
- 2017: Revenue of $355K, expenses of $324K, and assets of $170K (revenue -4.9% year-over-year).
- 2016: Revenue of $373K, expenses of $346K, and assets of $139K (revenue -16.0% year-over-year).
- 2015: Revenue of $444K, expenses of $346K, and assets of $113K (revenue +9.6% year-over-year).
- 2014: Revenue of $405K, expenses of $428K, and assets of $15K (revenue -4.0% year-over-year).
- 2013: Revenue of $422K, expenses of $418K, and assets of $37K (revenue +30.4% year-over-year).
- 2011: Revenue of $324K, expenses of $319K, and assets of $61K (revenue -23.2% year-over-year).
- 2010: Revenue of $421K, expenses of $395K, and assets of $56K (revenue +82.0% year-over-year).
- 2009: Revenue of $231K, expenses of $212K, and assets of $30K (revenue +35.3% year-over-year).
- 2008: Revenue of $171K, expenses of $171K, and assets of $3K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Minnesota Harness Racing Inc:
Data Sources and Methodology
This transparency report for Minnesota Harness Racing Inc 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.