National Thoroughbred Racing
National Thoroughbred Racing maintains stable assets and balanced budgets with no reported officer compensation.
EIN: 133985050 · Lexington, KY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $12.6M |
| Total Expenses | $8.9M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $7 |
| Net Assets | $14.7M |
| Transparency Score | 85/100 |
Is National Thoroughbred Racing Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
National Thoroughbred Racing directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About National Thoroughbred Racing
National Thoroughbred Racing (EIN: 133985050) is a nonprofit organization based in Lexington, KY. The organization reported total revenue of $12.6M and total assets of $18.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of National Thoroughbred Racing's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
National Thoroughbred Racing is a large nonprofit that has been operating for 28 years, with 14 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $9.2M |
| Total Expenses | $8.9M |
| Surplus / Deficit | +$264K |
| Total Assets | $17.7M |
| Total Liabilities | $3.0M |
| Net Assets | $14.7M |
| Operating Margin | 2.9% |
| Debt-to-Asset Ratio | 16.8% |
| Months of Reserves | 23.9 months |
Financial Health Grade: A
In 2023, National Thoroughbred Racing reported a surplus of $264K with revenue exceeding expenses, holds 23.9 months of operating reserves (strong position), has a debt-to-asset ratio of 16.8% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2023), National Thoroughbred Racing's revenue has grown at a compound annual growth rate (CAGR) of 3.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -13.4% | -18.3% | +4.6% |
| 2022 | +190.8% | +152.2% | -17.8% |
| 2021 | -51.8% | -42.6% | +15.4% |
| 2020 | +1.8% | +5.5% | +2.9% |
| 2019 | +1.2% | -8.1% | +0.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1998 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates National Thoroughbred Racing 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: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, National Thoroughbred Racing allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $264K, with revenue exceeding expenses.
- Debt-to-asset ratio: 16.8%.
Executive Compensation Analysis
The consistent reporting of 0% officer compensation across all available filings is highly unusual for an organization of this size with revenues often exceeding $7 million, suggesting either that executive leadership is entirely volunteer-based or compensation is reported under different expense categories, which could impact transparency.
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 National Thoroughbred Racing's IRS 990 filings:
- Unusually low (0%) reported officer compensation for an organization of this size, potentially obscuring executive pay structures.
- Significant revenue volatility, with a sharp drop in 2017 and subsequent large swings, indicating potential instability in funding streams.
- Temporary but substantial increase in liabilities in 2021, which warrants further investigation into its cause and resolution.
Strengths
The following positive indicators were identified for National Thoroughbred Racing:
- Consistent maintenance of a strong asset base, generally above $17 million, indicating financial stability.
- Generally balanced budgets, with expenses often close to or below revenue, demonstrating responsible fiscal management.
- History of 14 IRS 990 filings, indicating a commitment to regulatory compliance and transparency over time.
Frequently Asked Questions about National Thoroughbred Racing
Is National Thoroughbred Racing a legitimate charity?
Based on AI analysis of IRS 990 filings, National Thoroughbred Racing (EIN: 133985050) some concerns. Mission Score: 85/100. 3 red flags identified, 3 strengths noted.
How does National Thoroughbred Racing spend its money?
National Thoroughbred Racing directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to National Thoroughbred Racing tax-deductible?
National Thoroughbred Racing is registered as a tax-exempt nonprofit (EIN: 133985050). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the National Thoroughbred Racing CEO make?
National Thoroughbred Racing's highest-compensated officer earns $7 annually. The organization reported $12.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of National Thoroughbred Racing's spending goes to programs?
National Thoroughbred Racing directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is National Thoroughbred Racing located?
National Thoroughbred Racing is headquartered in Lexington, Kentucky and files with the IRS under EIN 133985050.
How many years of IRS 990 filings does National Thoroughbred Racing have?
National Thoroughbred Racing has 14 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 $12.6M in total revenue.
How does National Thoroughbred Racing fund its operations given the reported 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that executive leadership may be volunteer-based, compensated through a related entity, or their compensation is categorized differently within the IRS 990 filings, such as under general salaries and wages rather than specific officer compensation.
What caused the significant revenue fluctuation in 2017 and 2021-2023?
Revenue dropped sharply to $387,902 in 2017, then rebounded to over $7 million in 2017 (second filing) and subsequent years, before peaking at $10.5 million in 2022 and settling at $9.1 million in 2023. These fluctuations could be due to changes in funding sources, specific events, or reporting period adjustments, requiring a deeper dive into the detailed filings.
What led to the spike in liabilities in 2021?
Liabilities increased from $2.3 million in 2020 to $5.6 million in 2021, then decreased to $2.3 million in 2022. This significant, temporary increase could be due to a large short-term loan, deferred revenue, or a major project requiring substantial upfront funding.
Filing History
IRS 990 filing history for National Thoroughbred Racing showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), National Thoroughbred Racing's revenue has grown by 47.1%, moving from $6.2M to $9.2M. Total assets decreased by 1.2% over the same period, from $17.9M to $17.7M. Total functional expenses rose by 33.7%, from $6.7M to $8.9M. In its most recent filing year (2023), National Thoroughbred Racing reported a surplus of $264K, with revenue exceeding expenses. The organization holds $3.0M in liabilities against $17.7M in assets (debt-to-asset ratio: 16.8%), resulting in net assets of $14.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $9.2M | $8.9M | $17.7M | $3.0M | — | View 990 |
| 2022 | $10.6M | $10.9M | $16.9M | $2.4M | — | View 990 |
| 2021 | $3.6M | $4.3M | $20.6M | $5.6M | — | View 990 |
| 2020 | $7.5M | $7.5M | $17.8M | $2.3M | — | — |
| 2019 | $7.4M | $7.1M | $17.3M | $1.7M | — | View 990 |
| 2018 | $7.3M | $7.8M | $17.2M | $1.9M | — | View 990 |
| 2017 | $388K | $538K | $17.3M | $1.5M | — | View 990 |
| 2017 | $7.1M | $7.1M | $17.6M | $1.7M | — | View 990 |
| 2016 | $6.9M | $7.0M | $17.3M | $1.6M | — | View 990 |
| 2015 | $7.1M | $7.0M | $17.5M | $1.6M | — | View 990 |
| 2014 | $6.4M | $6.0M | $17.3M | $1.4M | — | View 990 |
| 2013 | $6.1M | $5.9M | $17.0M | $1.5M | — | View 990 |
| 2012 | $2.8M | $2.4M | $16.1M | $1.4M | — | View 990 |
| 2011 | $6.2M | $6.7M | $17.9M | $3.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $9.2M, expenses of $8.9M, and assets of $17.7M (revenue -13.4% year-over-year).
- 2022: Revenue of $10.6M, expenses of $10.9M, and assets of $16.9M (revenue +190.8% year-over-year).
- 2021: Revenue of $3.6M, expenses of $4.3M, and assets of $20.6M (revenue -51.8% year-over-year).
- 2020: Revenue of $7.5M, expenses of $7.5M, and assets of $17.8M (revenue +1.8% year-over-year).
- 2019: Revenue of $7.4M, expenses of $7.1M, and assets of $17.3M (revenue +1.2% year-over-year).
- 2018: Revenue of $7.3M, expenses of $7.8M, and assets of $17.2M (revenue +1788.2% year-over-year).
- 2017: Revenue of $388K, expenses of $538K, and assets of $17.3M (revenue -94.6% year-over-year).
- 2017: Revenue of $7.1M, expenses of $7.1M, and assets of $17.6M (revenue +3.0% year-over-year).
- 2016: Revenue of $6.9M, expenses of $7.0M, and assets of $17.3M (revenue -2.4% year-over-year).
- 2015: Revenue of $7.1M, expenses of $7.0M, and assets of $17.5M (revenue +11.1% year-over-year).
- 2014: Revenue of $6.4M, expenses of $6.0M, and assets of $17.3M (revenue +4.5% year-over-year).
- 2013: Revenue of $6.1M, expenses of $5.9M, and assets of $17.0M (revenue +120.1% year-over-year).
- 2012: Revenue of $2.8M, expenses of $2.4M, and assets of $16.1M (revenue -55.3% year-over-year).
- 2011: Revenue of $6.2M, expenses of $6.7M, and assets of $17.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for National Thoroughbred Racing:
Data Sources and Methodology
This transparency report for National Thoroughbred Racing 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.