Thoroughbred Racing Associations Of The United States Inc
Thoroughbred Racing Associations sees significant revenue decline while maintaining stable assets and reporting no officer compensation.
EIN: 131379483 · Elkton, MD · Updated: 2026-03-28
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Thoroughbred Racing Associations Of The United States Inc is mapped to EIN 131379483.
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| Metric | Value |
|---|---|
| Total Revenue | $354K |
| Total Expenses | $318K |
| Program Spending | 70% |
| Net Assets | $776K |
| Transparency Score | 75/100 |
Search Intent Cockpit
Thoroughbred Racing Associations Of The United States Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals
Thoroughbred Racing Associations Of The United States Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Thoroughbred Racing Associations Of The United States Inc in one place.
Form 990 Filing Summary
14 filing years are available, with latest revenue of $296K and expenses of $318K.
Revenue and Expenses
Thoroughbred Racing Associations Of The United States Inc reported $296K in revenue and $318K in expenses, a deficit of $22K.
Executive Compensation
Officer, director, trustee, and key employee pay is reviewed from IRS 990 compensation disclosures when present.
Charity Score and Red Flags
75/100 mission score, 3 red flags, and 3 strengths are shown from structured and AI review.
Is Thoroughbred Racing Associations Of The United States Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
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Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $222K (70%) |
Across stored filings, Thoroughbred Racing Associations Of The United States Inc shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
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| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 3 red flags identified |
| Mission spend | 70% to programs | Good |
| Financial durability | Grade B | 14 stored filing years |
| Peer context | Compare with Main Street Mobile Treatment Associates Inc | Maryland and category context |
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Thoroughbred Racing Associations Of The United States Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Thoroughbred Racing Associations Of The United States Inc
Thoroughbred Racing Associations Of The United States Inc (EIN: 131379483) is a nonprofit organization based in Elkton, MD. The organization reported total revenue of $354K and total assets of $761K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Thoroughbred Racing Associations Of The United States Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Thoroughbred Racing Associations Of The United States Inc is a small nonprofit that has been operating for 83 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of -8.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $296K |
| Total Expenses | $318K |
| Surplus / Deficit | $-21,564 |
| Total Assets | $780K |
| Total Liabilities | $4K |
| Net Assets | $776K |
| Operating Margin | -7.3% |
| Debt-to-Asset Ratio | 0.5% |
| Months of Reserves | 29.5 months |
Financial Health Grade: B
In 2023, Thoroughbred Racing Associations Of The United States Inc reported a deficit of $22K with expenses exceeding revenue, holds 29.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.5% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Thoroughbred Racing Associations Of The United States Inc's revenue has declined at a compound annual growth rate (CAGR) of -8.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.3% | +2.0% | -4.5% |
| 2022 | +2.6% | +1.6% | -3.3% |
| 2021 | -3.4% | +1.0% | -1.1% |
| 2020 | +4.9% | -5.4% | -27.8% |
| 2019 | -19.9% | -17.4% | +7.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1943 |
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 Thoroughbred Racing Associations Of The United States Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Thoroughbred Racing Associations Of The United States Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $22K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.5%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting either a volunteer leadership structure or that executive services are provided through other means not categorized as direct officer pay, which is a positive indicator for minimizing overhead in this area.
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 Thoroughbred Racing Associations Of The United States Inc's IRS 990 filings:
- Significant and sustained decline in annual revenue from $936,775 in 2016 to $296,225 in 2023.
- Consistent deficit spending in recent years (e.g., 2023 expenses exceeded revenue by $21,564), which can erode reserves over time.
- Lack of detailed functional expense breakdown (program, admin, fundraising) in the provided data makes it difficult to assess spending efficiency.
Strengths
The following positive indicators were identified for Thoroughbred Racing Associations Of The United States Inc:
- Consistent reporting of 0% officer compensation across all filings, indicating potential volunteer leadership or efficient executive cost management.
- Long history of IRS 990 filings (14 filings), demonstrating commitment to regulatory compliance and transparency.
- Maintained a relatively stable asset base ($761,422 current assets) despite significant revenue decline and deficit spending in recent years.
Frequently Asked Questions about Thoroughbred Racing Associations Of The United States Inc
Is Thoroughbred Racing Associations Of The United States Inc a legitimate charity?
Thoroughbred Racing Associations Of The United States Inc (EIN: 131379483) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 75/100. It has 14 years of IRS 990 filings on record. Total revenue: $354K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Thoroughbred Racing Associations Of The United States Inc spend its money?
Thoroughbred Racing Associations Of The United States Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Thoroughbred Racing Associations Of The United States Inc tax-deductible?
Thoroughbred Racing Associations Of The United States Inc is registered as a tax-exempt nonprofit (EIN: 131379483). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Thoroughbred Racing Associations Of The United States Inc's spending goes to programs?
Thoroughbred Racing Associations Of The United States Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Thoroughbred Racing Associations Of The United States Inc located?
Thoroughbred Racing Associations Of The United States Inc is headquartered in Elkton, Maryland and files with the IRS under EIN 131379483.
How many years of IRS 990 filings does Thoroughbred Racing Associations Of The United States Inc have?
Thoroughbred Racing Associations Of The United States Inc 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 $354K in total revenue.
Why has the organization's revenue decreased so significantly from $936,775 in 2016 to $296,225 in 2023?
The provided data shows a substantial decline in revenue over the past seven years, indicating a potential shift in funding sources, operational scale, or industry support that would require further investigation beyond the available financial summaries.
How does the organization cover its expenses when revenue consistently falls short, such as in 2023 ($296,225 revenue vs. $317,789 expenses)?
The consistent deficit spending in recent years suggests the organization is either utilizing accumulated reserves from prior periods of surplus or has other unreported income streams. This trend is not sustainable long-term without drawing down assets.
What are the specific program activities and their associated costs, given the lack of a detailed spending breakdown?
Without a functional expense breakdown (program, administrative, fundraising), it's challenging to assess the proportion of spending directly allocated to the organization's mission. The provided data only offers total expenses.
Filing History
IRS 990 filing history for Thoroughbred Racing Associations Of The United States Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Thoroughbred Racing Associations Of The United States Inc's revenue has declined by 67.3%, moving from $907K to $296K. Total assets decreased by 26.8% over the same period, from $1.1M to $780K. Total functional expenses fell by 60.3%, from $800K to $318K. In its most recent filing year (2023), Thoroughbred Racing Associations Of The United States Inc reported a deficit of $22K, with expenses exceeding revenue. The organization holds $4K in liabilities against $780K in assets (debt-to-asset ratio: 0.5%), resulting in net assets of $776K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $296K | $318K | $780K | $4K | — | View 990 |
| 2022 | $295K | $312K | $817K | $19K | — | View 990 |
| 2021 | $288K | $307K | $844K | $31K | — | View 990 |
| 2020 | $298K | $304K | $854K | $21K | — | — |
| 2019 | $284K | $321K | $1.2M | $51K | — | View 990 |
| 2018 | $355K | $389K | $1.1M | $20K | — | View 990 |
| 2017 | $730K | $598K | $953K | $34K | — | — |
| 2016 | $937K | $909K | $756K | $335K | — | View 990 |
| 2015 | $886K | $822K | $834K | $886K | — | View 990 |
| 2014 | $872K | $815K | $861K | $1.3M | — | View 990 |
| 2013 | $865K | $808K | $972K | $1.0M | — | View 990 |
| 2012 | $899K | $807K | $961K | $1.3M | — | View 990 |
| 2011 | $886K | $806K | $1.1M | $1.3M | — | View 990 |
| 2010 | $907K | $800K | $1.1M | $905K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $296K, expenses of $318K, and assets of $780K (revenue +0.3% year-over-year).
- 2022: Revenue of $295K, expenses of $312K, and assets of $817K (revenue +2.6% year-over-year).
- 2021: Revenue of $288K, expenses of $307K, and assets of $844K (revenue -3.4% year-over-year).
- 2020: Revenue of $298K, expenses of $304K, and assets of $854K (revenue +4.9% year-over-year).
- 2019: Revenue of $284K, expenses of $321K, and assets of $1.2M (revenue -19.9% year-over-year).
- 2018: Revenue of $355K, expenses of $389K, and assets of $1.1M (revenue -51.4% year-over-year).
- 2017: Revenue of $730K, expenses of $598K, and assets of $953K (revenue -22.1% year-over-year).
- 2016: Revenue of $937K, expenses of $909K, and assets of $756K (revenue +5.7% year-over-year).
- 2015: Revenue of $886K, expenses of $822K, and assets of $834K (revenue +1.7% year-over-year).
- 2014: Revenue of $872K, expenses of $815K, and assets of $861K (revenue +0.8% year-over-year).
- 2013: Revenue of $865K, expenses of $808K, and assets of $972K (revenue -3.8% year-over-year).
- 2012: Revenue of $899K, expenses of $807K, and assets of $961K (revenue +1.4% year-over-year).
- 2011: Revenue of $886K, expenses of $806K, and assets of $1.1M (revenue -2.2% year-over-year).
- 2010: Revenue of $907K, expenses of $800K, and assets of $1.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Thoroughbred Racing Associations Of The United States Inc:
Data Sources and Methodology
This transparency report for Thoroughbred Racing Associations Of The United States 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.