Standardbred Owners Association Inc
- Assets
- $17.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 6
- Location
- Yonkers, NY
- Founding
- 03/1959
- Data as of
- 12/2021
- EIN
- 11-1867812
Organization Overview
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 12/2021, 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 12/2021, Standardbred Owners Association Inc generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $581.7k during the year ending 12/2021. 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
2021
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Irving Atherton Treasurer | OfficerTrustee | 10 | $0 |
Peter Venaglia 1st VP | OfficerTrustee | 10 | $0 |
Joseph A Faraldo President | OfficerTrustee | 10 | $0 |
Henrey Gargiulo Director | Trustee | 10 | $0 |
Michael Kimelman Director | Trustee | 10 | $0 |
Robert Macdougall Director | Trustee | 10 | $0 |
Financial Statements
| 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 | $952,444 |
| Investment income | $638,771 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,437 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,606,652 |
| 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 | $0 |
| 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 | $80,978 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $25,848 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $52,871 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $63,536 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,831 |
| Fees for services: Other | $77,676 |
| Advertising and promotion | $0 |
| Office expenses | $20,451 |
| Information technology | $4,693 |
| Royalties | $0 |
| Occupancy | $14,348 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,230 |
| Insurance | $24,240 |
| All other expenses | $38,379 |
| Total functional expenses | $581,663 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,164,271 |
| Savings and temporary cash investments | $1,030,155 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,722,304 |
| 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 | $25,873 |
| Investments—publicly traded securities | $9,652,647 |
| Investments—other securities | $0 |
| Investments—program-related | $239,980 |
| Intangible assets | $0 |
| Other assets | $380,164 |
| Total assets | $17,215,394 |
| Accounts payable and accrued expenses | $64,476 |
| 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 | $13,496,351 |
| Net assets without donor restrictions | $3,627,043 |
| 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 | $17,215,394 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Miriam Osborn Memorial Home Association Rye, NY | $165,989,645 | $45,008,516 |
Meadows Standardbred Owners Association Meadow Lands, PA | $2,546,597 | $10,372,771 |
Womens Prison Association And Home New York, NY | $6,652,586 | $9,309,545 |
Pradera Corporation Philadelphia, PA | $3,527,505 | $9,032,798 |
Homes For The Homeless Institute Inc New York, NY | $69,885,275 | $9,054,313 |
Initiative For A Competitive Inner City Inc Roxbury, MA | $11,137,097 | $6,700,624 |
Spring Meadows Association Of Responsible Tenants Inc Springfield, MA | $14,323,481 | $4,117,328 |
St Vincents Development Inc Trumbull, CT | $27,854,287 | $3,404,975 |
Bucks County Housing Group Inc Warminster, PA | $3,270,461 | $3,883,677 |
Mutual Housing Association Of Greater Hartford Inc Hartford, CT | $35,173,874 | $3,634,828 |
Monmouth Council No 9 Civil Service Association Housing Corporation Asbury Park, NJ | $13,033,199 | $4,484,843 |
Allentown Bnai Brith Housing Corp Allentown, PA | $7,631,458 | $3,117,871 |