New Jersy Thoroubred Horesmans Benevolent Association Inc
New Jersey Thoroughbred Horsemen's Benevolent Association: Financial Instability and Lack of Transparency
EIN: 222904953 · W Long Branch, NJ · Updated: 2026-04-04
Is New Jersy Thoroubred Horesmans Benevolent Association Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About New Jersy Thoroubred Horesmans Benevolent Association Inc
New Jersy Thoroubred Horesmans Benevolent Association Inc (EIN: 222904953) is a nonprofit organization based in W Long Branch, NJ. The organization reported total revenue of $898K and total assets of $168K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Jersy Thoroubred Horesmans Benevolent Association Inc'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 New Jersy Thoroubred Horesmans Benevolent Association Inc with a Mission Score of 20 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 0%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, New Jersy Thoroubred Horesmans Benevolent Association Inc allocates its expenses as follows: admin: 0%, programs: 0%, fundraising: 0%.
Executive Compensation Analysis
Executive compensation cannot be assessed as no specific compensation figures are provided in the available data.
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 New Jersy Thoroubred Horesmans Benevolent Association Inc's IRS 990 filings:
- The organization's revenue has been highly volatile, ranging from $532,012 in 2020 to $7,615,398 in 2021, indicating potential financial instability.
- The provided data does not include any breakdown of expenses into program, administrative, or fundraising categories, which is a major red flag for transparency and accountability.
- The organization's net assets have decreased significantly over the years, from $17,773,653 in 2017 to $1,092,6089 in 2023, suggesting a decline in financial health.
- The organization's liabilities consistently outweigh its assets, with liabilities reaching $68,604,055 in 2023 compared to assets of $10,926,089, indicating a precarious financial position.
Strengths
The following positive indicators were identified for New Jersy Thoroubred Horesmans Benevolent Association Inc:
- None identified based on the limited and concerning financial data provided.
Frequently Asked Questions about New Jersy Thoroubred Horesmans Benevolent Association Inc
Is New Jersy Thoroubred Horesmans Benevolent Association Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, New Jersy Thoroubred Horesmans Benevolent Association Inc (EIN: 222904953) significant concerns. Mission Score: 20/100. 4 red flags identified, 1 strength noted.
How does New Jersy Thoroubred Horesmans Benevolent Association Inc spend its money?
Detailed spending breakdown data is not yet available for New Jersy Thoroubred Horesmans Benevolent Association Inc. Check back for updated IRS 990 analysis.
Are donations to New Jersy Thoroubred Horesmans Benevolent Association Inc tax-deductible?
New Jersy Thoroubred Horesmans Benevolent Association Inc is registered as a tax-exempt nonprofit (EIN: 222904953). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does New Jersy Thoroubred Horesmans Benevolent Association Inc do?
New Jersy Thoroubred Horesmans Benevolent Association Inc is a nonprofit organization in the Unknown sector, located in W Long Branch, New Jersey. It is classified under NTEE code Unknown.
How much revenue does New Jersy Thoroubred Horesmans Benevolent Association Inc have?
New Jersy Thoroubred Horesmans Benevolent Association Inc reported total revenue of $898,338. Based on 13 IRS 990 filings on record.
What are New Jersy Thoroubred Horesmans Benevolent Association Inc's total assets?
New Jersy Thoroubred Horesmans Benevolent Association Inc holds total assets of $167,693 as reported in IRS 990 filings.
Where is New Jersy Thoroubred Horesmans Benevolent Association Inc located?
New Jersy Thoroubred Horesmans Benevolent Association Inc is based in W Long Branch, New Jersey.
What is New Jersy Thoroubred Horesmans Benevolent Association Inc's EIN?
New Jersy Thoroubred Horesmans Benevolent Association Inc's Employer Identification Number (EIN) is 222904953. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is New Jersy Thoroubred Horesmans Benevolent Association Inc?
New Jersy Thoroubred Horesmans Benevolent Association Inc is classified under NTEE code Unknown (Unknown).
Is New Jersy Thoroubred Horesmans Benevolent Association Inc a registered 501(c)(3)?
New Jersy Thoroubred Horesmans Benevolent Association Inc appears in IRS records (EIN: 222904953). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does New Jersy Thoroubred Horesmans Benevolent Association Inc file IRS Form 990?
Yes, New Jersy Thoroubred Horesmans Benevolent Association Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was New Jersy Thoroubred Horesmans Benevolent Association Inc's revenue in 2023?
In the 202312 filing period, New Jersy Thoroubred Horesmans Benevolent Association Inc reported total revenue of $970,541, total expenses of $5,064,839, and net assets of $10,926,089.
Is New Jersy Thoroubred Horesmans Benevolent Association Inc's revenue growing or declining?
New Jersy Thoroubred Horesmans Benevolent Association Inc's revenue is declining. Revenue went from $6,386,544 (202212) to $970,541 (202312), a -84.8% change. Based on 13 filings on record.
What is New Jersy Thoroubred Horesmans Benevolent Association Inc's most recent 990 filing?
The most recent IRS Form 990 filing for New Jersy Thoroubred Horesmans Benevolent Association Inc covers tax period 202312. It shows revenue of $970,541, expenses of $5,064,839, total assets of $10,926,089, and liabilities of $68,604,055.
Is New Jersy Thoroubred Horesmans Benevolent Association Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, New Jersy Thoroubred Horesmans Benevolent Association Inc has notable concerns. Mission Score: 20/100 (Poor). 4 red flags identified. 1 strength noted.
What are the red flags for New Jersy Thoroubred Horesmans Benevolent Association Inc?
The following concerns were identified: The organization's revenue has been highly volatile, ranging from $532,012 in 2020 to $7,615,398 in 2021, indicating potential financial instability.. The provided data does not include any breakdown of expenses into program, administrative, or fundraising categories, which is a major red flag for transparency and accountability.. The organization's net assets have decreased significantly over the years, from $17,773,653 in 2017 to $1,092,6089 in 2023, suggesting a decline in financial health.. The organization's liabilities consistently outweigh its assets, with liabilities reaching $68,604,055 in 2023 compared to assets of $10,926,089, indicating a precarious financial position.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are New Jersy Thoroubred Horesmans Benevolent Association Inc's strengths?
Positive indicators for New Jersy Thoroubred Horesmans Benevolent Association Inc include: None identified based on the limited and concerning financial data provided.. These findings are derived from AI analysis of the organization's financial filings.
How does New Jersy Thoroubred Horesmans Benevolent Association Inc compensate executives?
Executive compensation cannot be assessed as no specific compensation figures are provided in the available data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent and significant negative net assets (liabilities far exceeding assets) and the lack of expense breakdown, how does the organization sustain its operations and what are the primary sources of funding that cover these deficits?
The provided data does not offer insights into how the organization sustains operations with such large liabilities. The revenue figures are insufficient to cover the reported expenses and liabilities, suggesting potential undisclosed funding sources or significant financial distress.
Without any reported program expenses, what activities does the 'New Jersey Thoroughbred Horsemen's Benevolent Association Inc' actually undertake to fulfill its benevolent mission, and how are these activities funded?
The absence of program expense data makes it impossible to determine what benevolent activities the organization conducts or how they are funded. This lack of transparency is a critical concern for a nonprofit organization.
Filing History
IRS 990 filing history for New Jersy Thoroubred Horesmans Benevolent Association Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), New Jersy Thoroubred Horesmans Benevolent Association Inc's revenue has declined by 20%, moving from $1.2M to $971K. Total assets increased by 154.3% over the same period, from $4.3M to $10.9M. Total functional expenses rose by 415.4%, from $983K to $5.1M. In its most recent filing year (2023), New Jersy Thoroubred Horesmans Benevolent Association Inc reported a deficit of $4.1M, with expenses exceeding revenue. The organization holds $68.6M in liabilities against $10.9M in assets (debt-to-asset ratio: 627.9%), resulting in net assets of $-57,677,966.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $971K | $5.1M | $10.9M | $68.6M | — | — |
| 2022 | $6.4M | $5.8M | $11.7M | $64.5M | — | View 990 |
| 2021 | $7.6M | $5.9M | $12.0M | $65.4M | — | View 990 |
| 2020 | $532K | $5.2M | $12.1M | $67.2M | — | View 990 |
| 2019 | $913K | $6.5M | $13.1M | $63.2M | — | View 990 |
| 2018 | $743K | $9.0M | $14.1M | $59.0M | — | View 990 |
| 2017 | $1.3M | $7.5M | $17.8M | $54.1M | — | View 990 |
| 2016 | $2.9M | $7.6M | $15.5M | $45.5M | — | View 990 |
| 2015 | $1.5M | $5.6M | $15.7M | $40.9M | — | View 990 |
| 2014 | $1.3M | $4.0M | $14.3M | $35.4M | — | View 990 |
| 2013 | $923K | $1.4M | $4.6M | $2.6M | — | View 990 |
| 2012 | $1.6M | $1.8M | $4.4M | $2.0M | — | View 990 |
| 2011 | $1.2M | $983K | $4.3M | $1.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $971K, expenses of $5.1M, and assets of $10.9M (revenue -84.8% year-over-year).
- 2022: Revenue of $6.4M, expenses of $5.8M, and assets of $11.7M (revenue -16.1% year-over-year).
- 2021: Revenue of $7.6M, expenses of $5.9M, and assets of $12.0M (revenue +1331.4% year-over-year).
- 2020: Revenue of $532K, expenses of $5.2M, and assets of $12.1M (revenue -41.8% year-over-year).
- 2019: Revenue of $913K, expenses of $6.5M, and assets of $13.1M (revenue +23.0% year-over-year).
- 2018: Revenue of $743K, expenses of $9.0M, and assets of $14.1M (revenue -43.6% year-over-year).
- 2017: Revenue of $1.3M, expenses of $7.5M, and assets of $17.8M (revenue -54.3% year-over-year).
- 2016: Revenue of $2.9M, expenses of $7.6M, and assets of $15.5M (revenue +91.4% year-over-year).
- 2015: Revenue of $1.5M, expenses of $5.6M, and assets of $15.7M (revenue +14.5% year-over-year).
- 2014: Revenue of $1.3M, expenses of $4.0M, and assets of $14.3M (revenue +42.4% year-over-year).
- 2013: Revenue of $923K, expenses of $1.4M, and assets of $4.6M (revenue -43.9% year-over-year).
- 2012: Revenue of $1.6M, expenses of $1.8M, and assets of $4.4M (revenue +35.7% year-over-year).
- 2011: Revenue of $1.2M, expenses of $983K, and assets of $4.3M.
Data Sources and Methodology
This transparency report for New Jersy Thoroubred Horesmans Benevolent Association 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.