Standardbred Owners Association Inc is located in Yonkers, NY. The organization was established in 1959. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Standardbred Owners Association Inc employed 6 individuals. This organization is the central organization for a national or regional group of organizations. Standardbred Owners Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Standardbred Owners Association Inc generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.3% each year . All expenses for the organization totaled $903.8k during the year ending 12/2022. While expenses have increased by 2.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
REP. HORSEOWNERS INTERESTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
REPRESENTS HORSEOWNERS AND TRAINERS, PROMOTES AND EDUCATES THE PUBLIC ABOUT THE SPORT AND HISTORY OF HARNESS RACING, PROVIDES SUPPORT AND ANCILLIARY ACTIVITIES AT RACETRACKS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Irving Atherton Treasurer | OfficerTrustee | 10 | $0 |
Henrey Gargiulo Director | Trustee | 10 | $0 |
Michael Kimelman Director | Trustee | 10 | $0 |
Peter Venaglia 1st VP | OfficerTrustee | 10 | $0 |
Robert Macdougall Director | Trustee | 10 | $0 |
Joseph A Faraldo President | OfficerTrustee | 10 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $2,826,246 |
Investment income | $257,247 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$11,955 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $3,071,538 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $42,477 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $131,178 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $28,043 |
Fees for services: Management | $0 |
Fees for services: Legal | $40,275 |
Fees for services: Accounting | $32,158 |
Fees for services: Lobbying | $68,574 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $27,675 |
Fees for services: Other | $54,725 |
Advertising and promotion | $0 |
Office expenses | $11,409 |
Information technology | $11,329 |
Royalties | $0 |
Occupancy | $24,542 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $3,113 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $21,929 |
Insurance | $29,260 |
All other expenses | $11,566 |
Total functional expenses | $903,766 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,529,553 |
Savings and temporary cash investments | $1,119,399 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $3,945 |
Investments—publicly traded securities | $12,410,318 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $594,614 |
Total assets | $16,657,829 |
Accounts payable and accrued expenses | $24,995 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $13,431,875 |
Total liabilities | $13,456,870 |
Net assets without donor restrictions | $3,108,959 |
Net assets with donor restrictions | $92,000 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $16,657,829 |