New York Thoroughbred Horsemens Association Inc
New York Thoroughbred Horsemens Association consistently operates with surpluses and reports no officer compensation, despite significant asset and liability fluctuations.
EIN: 112940010 · Jamaica, NY · Updated: 2026-03-28
Is New York Thoroughbred Horsemens Association Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New York Thoroughbred Horsemens Association Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New York Thoroughbred Horsemens Association Inc
New York Thoroughbred Horsemens Association Inc (EIN: 112940010) is a nonprofit organization based in Jamaica, NY. The organization reported total revenue of $6.6M and total assets of $3.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New York Thoroughbred Horsemens 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 York Thoroughbred Horsemens Association Inc 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: 85%
- fundraising: 5%
According to IRS 990 filings, New York Thoroughbred Horsemens Association Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is highly unusual for an organization with annual revenues consistently over $2.5 million and suggests either a volunteer-led executive team or compensation being reported under different categories, which would require further clarification.
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 York Thoroughbred Horsemens Association Inc's IRS 990 filings:
- Significant, unexplained fluctuations in assets and liabilities between 202105 and 202305, with liabilities increasing by over $3.3 million.
- Consistent 0% officer compensation for an organization with multi-million dollar revenues, which is unusual and warrants further investigation into how executive functions are compensated or managed.
Strengths
The following positive indicators were identified for New York Thoroughbred Horsemens Association Inc:
- Consistent operational surpluses in most recent years (e.g., 202405 revenue $3,256,254 vs. expenses $3,114,491), indicating sound financial management.
- Strong transparency regarding executive compensation, reporting 0% officer compensation across all filings.
- Stable revenue generation, consistently above $2.5 million annually over the past decade, demonstrating a reliable funding base.
Frequently Asked Questions about New York Thoroughbred Horsemens Association Inc
Is New York Thoroughbred Horsemens Association Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, New York Thoroughbred Horsemens Association Inc (EIN: 112940010) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does New York Thoroughbred Horsemens Association Inc spend its money?
New York Thoroughbred Horsemens Association Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to New York Thoroughbred Horsemens Association Inc tax-deductible?
New York Thoroughbred Horsemens Association Inc is registered as a tax-exempt nonprofit (EIN: 112940010). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the significant increase in assets and liabilities between 202105 and 202305?
Between 202105 and 202305, assets increased from $9,248,348 to $13,084,468, and liabilities rose from $6,661,993 to $10,038,532. This substantial change suggests potential large-scale investments, property acquisitions, or significant debt financing that would need to be detailed in the full IRS 990 forms to understand the nature of these financial shifts.
How does the organization manage its executive functions without reported officer compensation?
The consistent reporting of 0% officer compensation across all filings is notable for an organization of this size. This could indicate that executive leadership is entirely volunteer-based, or that compensation for key management personnel is categorized differently within the financial statements, such as under program or administrative expenses, rather than directly as officer compensation.
Is the organization's NTEE code truly 'Unknown' or is it simply not provided in this summary?
The provided data states the NTEE code as 'Unknown'. A specific NTEE code would help classify the organization's primary activities and allow for better comparison with peer organizations in the same sector.
Filing History
IRS 990 filing history for New York Thoroughbred Horsemens Association Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), New York Thoroughbred Horsemens Association Inc's revenue has grown by 62.2%, moving from $2.0M to $3.3M. Total assets increased by 87.4% over the same period, from $1.9M to $3.5M. Total functional expenses rose by 50.8%, from $2.1M to $3.1M. In its most recent filing year (2024), New York Thoroughbred Horsemens Association Inc reported a surplus of $142K, with revenue exceeding expenses. The organization holds $102K in liabilities against $3.5M in assets (debt-to-asset ratio: 2.9%), resulting in net assets of $3.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $3.3M | $3.1M | $3.5M | $102K | — | View 990 |
| 2023 | $3.3M | $3.1M | $13.1M | $10.0M | — | — |
| 2022 | $3.3M | $2.9M | $12.9M | $10.0M | — | View 990 |
| 2021 | $2.6M | $2.8M | $9.2M | $6.7M | — | — |
| 2020 | $2.8M | $3.1M | $7.1M | $4.3M | — | View 990 |
| 2019 | $3.2M | $2.9M | $3.3M | $129K | — | View 990 |
| 2018 | $3.1M | $2.9M | $2.9M | $73K | — | — |
| 2017 | $3.1M | $3.2M | $2.8M | $118K | — | View 990 |
| 2016 | $3.3M | $2.9M | $3.2M | $372K | — | View 990 |
| 2015 | $3.2M | $3.4M | $2.6M | $129K | — | View 990 |
| 2014 | $3.2M | $2.8M | $2.7M | $66K | — | View 990 |
| 2013 | $2.9M | $2.7M | $2.3M | $52K | — | View 990 |
| 2012 | $2.4M | $2.2M | $2.2M | $112K | — | View 990 |
| 2011 | $2.0M | $2.1M | $1.9M | $51K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $3.3M, expenses of $3.1M, and assets of $3.5M (revenue -2.1% year-over-year).
- 2023: Revenue of $3.3M, expenses of $3.1M, and assets of $13.1M (revenue +1.1% year-over-year).
- 2022: Revenue of $3.3M, expenses of $2.9M, and assets of $12.9M (revenue +27.2% year-over-year).
- 2021: Revenue of $2.6M, expenses of $2.8M, and assets of $9.2M (revenue -7.1% year-over-year).
- 2020: Revenue of $2.8M, expenses of $3.1M, and assets of $7.1M (revenue -14.0% year-over-year).
- 2019: Revenue of $3.2M, expenses of $2.9M, and assets of $3.3M (revenue +4.4% year-over-year).
- 2018: Revenue of $3.1M, expenses of $2.9M, and assets of $2.9M (revenue -0.8% year-over-year).
- 2017: Revenue of $3.1M, expenses of $3.2M, and assets of $2.8M (revenue -4.6% year-over-year).
- 2016: Revenue of $3.3M, expenses of $2.9M, and assets of $3.2M (revenue +3.1% year-over-year).
- 2015: Revenue of $3.2M, expenses of $3.4M, and assets of $2.6M (revenue +-0.0% year-over-year).
- 2014: Revenue of $3.2M, expenses of $2.8M, and assets of $2.7M (revenue +10.3% year-over-year).
- 2013: Revenue of $2.9M, expenses of $2.7M, and assets of $2.3M (revenue +17.6% year-over-year).
- 2012: Revenue of $2.4M, expenses of $2.2M, and assets of $2.2M (revenue +22.0% year-over-year).
- 2011: Revenue of $2.0M, expenses of $2.1M, and assets of $1.9M.
Data Sources and Methodology
This transparency report for New York Thoroughbred Horsemens 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.