Thoroughbred Retirement Foundation

Thoroughbred Retirement Foundation shows stable assets and no reported officer compensation over a decade.

EIN: 133132741 · Saratoga Spgs, NY · NTEE: D200 · Updated: 2026-03-28

$5.8MRevenue

$14.3MAssets

88/100Mission Score (Excellent)

D200

About Thoroughbred Retirement Foundation

Thoroughbred Retirement Foundation (EIN: 133132741) is a nonprofit organization based in Saratoga Spgs, NY, classified under NTEE code D200. The organization reported total revenue of $5.8M and total assets of $14.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Thoroughbred Retirement Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Thoroughbred Retirement Foundation (TRF) demonstrates a generally stable financial position with assets consistently above $9 million over the past decade, reaching $11.56 million in 2023. The organization has shown a positive trend in revenue and expenses in its most recent filing (2023), with revenue of $2,962,392 exceeding expenses of $2,401,434, indicating sound financial management for the period. However, prior years, such as 2022 and 2019, showed expenses exceeding revenue, suggesting some variability in annual financial performance.

Spending efficiency appears to be a strength, particularly given the consistent reporting of 0% officer compensation across all available filings, which is a strong indicator of resource allocation towards its mission rather than executive salaries. While a detailed breakdown of program, administrative, and fundraising expenses is not provided in the summary data, the absence of officer compensation suggests a lean operational structure. The organization's liabilities have also significantly decreased from a high of $2,828,459 in 2015 to $240,793 in 2023, improving its financial health and reducing long-term obligations.

Transparency is high regarding executive compensation, as no officer compensation is reported. The consistent filing of IRS Form 990s over 13 periods further demonstrates a commitment to public accountability. The NTEE code D200 (Animal Protection & Welfare) aligns well with the organization's name and implied mission, suggesting a clear programmatic focus. Overall, TRF appears to be a financially responsible organization with a strong commitment to its mission and transparent financial practices, particularly concerning executive pay.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Thoroughbred Retirement Foundation with a Mission Score of 88 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, Thoroughbred Retirement Foundation 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 consistently reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an organization of its size with assets over $10 million.

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 Retirement Foundation's IRS 990 filings:

Expenses exceeded revenue in multiple years (e.g., 2022, 2019, 2018, 2017, 2015, 2014), indicating periods of deficit spending.
The consistent 0% officer compensation is highly unusual for an organization of this size and could warrant further investigation into how leadership is supported or structured.

Strengths

The following positive indicators were identified for Thoroughbred Retirement Foundation:

Consistently reports 0% officer compensation, indicating a strong commitment to directing funds towards its mission.
Significant reduction in liabilities from $2,828,459 in 2015 to $240,793 in 2023, improving financial health.
Maintains a stable asset base, consistently above $9 million over the past decade, demonstrating long-term financial resilience.
Positive revenue growth in the most recent filing (2023), with revenue exceeding expenses by over $500,000.
Consistent filing of IRS Form 990s over 13 periods, demonstrating transparency and accountability.

Frequently Asked Questions about Thoroughbred Retirement Foundation

Is Thoroughbred Retirement Foundation a good charity?

Based on the provided data, TRF appears to be a good charity. It consistently reports 0% officer compensation, maintains stable assets, and has significantly reduced its liabilities over time, indicating strong financial stewardship and a focus on its mission.

How does TRF manage to operate without officer compensation?

The data consistently shows 0% officer compensation. This could mean that executive leadership is entirely volunteer-based, compensated through a related entity not reported here, or that compensation falls below the reporting threshold for officers, though the consistent 0% suggests the former or a unique operational model.

What is the trend in TRF's financial stability?

TRF's financial stability has improved, with assets growing from $9.34 million in 2015 to $11.56 million in 2023, and liabilities significantly decreasing from $2.83 million in 2015 to $0.24 million in 2023. Revenue has also shown positive growth in the most recent period.

Filing History

IRS 990 filing history for Thoroughbred Retirement Foundation showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Thoroughbred Retirement Foundation's revenue has grown by 33.4%, moving from $2.2M to $3.0M. Total assets increased by 31.9% over the same period, from $8.8M to $11.6M. Total functional expenses fell by 17%, from $2.9M to $2.4M. In its most recent filing year (2023), Thoroughbred Retirement Foundation reported a surplus of $561K, with revenue exceeding expenses. The organization holds $241K in liabilities against $11.6M in assets (debt-to-asset ratio: 2.1%), resulting in net assets of $11.3M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$3.0M	$2.4M	$11.6M	$241K	—	View 990
2022	$1.9M	$2.3M	$10.1M	$239K	—	—
2021	$2.2M	$2.0M	$11.7M	$207K	—	View 990
2020	$2.1M	$1.9M	$9.9M	$194K	—	View 990
2019	$1.8M	$2.4M	$10.1M	$1.2M	—	View 990
2018	$2.5M	$2.7M	$9.6M	$1.4M	—	View 990
2017	$2.3M	$2.6M	$10.7M	$1.6M	—	—
2016	$3.3M	$2.9M	$10.0M	$2.5M	—	View 990
2015	$2.8M	$3.1M	$9.3M	$2.8M	—	View 990
2014	$2.6M	$3.0M	$10.1M	$2.7M	—	View 990
2013	$2.7M	$2.9M	$9.8M	$2.5M	—	View 990
2012	$1.7M	$2.8M	$8.4M	$2.0M	—	View 990
2011	$2.2M	$2.9M	$8.8M	$1.7M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $3.0M, expenses of $2.4M, and assets of $11.6M (revenue +55.8% year-over-year).
2022: Revenue of $1.9M, expenses of $2.3M, and assets of $10.1M (revenue -12.1% year-over-year).
2021: Revenue of $2.2M, expenses of $2.0M, and assets of $11.7M (revenue +1.6% year-over-year).
2020: Revenue of $2.1M, expenses of $1.9M, and assets of $9.9M (revenue +15.1% year-over-year).
2019: Revenue of $1.8M, expenses of $2.4M, and assets of $10.1M (revenue -25.1% year-over-year).
2018: Revenue of $2.5M, expenses of $2.7M, and assets of $9.6M (revenue +6.2% year-over-year).
2017: Revenue of $2.3M, expenses of $2.6M, and assets of $10.7M (revenue -30.5% year-over-year).
2016: Revenue of $3.3M, expenses of $2.9M, and assets of $10.0M (revenue +20.7% year-over-year).
2015: Revenue of $2.8M, expenses of $3.1M, and assets of $9.3M (revenue +5.3% year-over-year).
2014: Revenue of $2.6M, expenses of $3.0M, and assets of $10.1M (revenue -3.8% year-over-year).
2013: Revenue of $2.7M, expenses of $2.9M, and assets of $9.8M (revenue +62.1% year-over-year).
2012: Revenue of $1.7M, expenses of $2.8M, and assets of $8.4M (revenue -24.0% year-over-year).
2011: Revenue of $2.2M, expenses of $2.9M, and assets of $8.8M.

Data Sources and Methodology

This transparency report for Thoroughbred Retirement Foundation 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.