National Thoroughbred Racing
- Assets
- $16.9m
- Revenue
- $10.6m
- Investments
- $601.1k
- Employees
- 11
- Location
- Lexington, KY
- Founding
- 10/1998
- Data as of
- 03/2022
- EIN
- 13-3985050
Organization Overview
National Thoroughbred Racing is located in Lexington, KY. The organization was established in 1998. According to its NTEE Classification (N03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Recreation & Sports and related organizations. As of 03/2022, National Thoroughbred Racing employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Thoroughbred Racing 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 03/2022, National Thoroughbred Racing generated $10.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $10.9m during the year ending 03/2022. While expenses have increased by 6.4% per year over the past 7 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
1. THE NTRA IS A BROADLY DEFINED MEMBERSHIP ASSOCIATION CHARGED WITH INCREASING THE POPULARITY, WELFARE AND INTEGRITY OF THOROUGHBRED BREEDING AND RACING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NTRA'S FEDERAL LEGISLATIVE ADVOCACY TEAM ADDRESSES ISSUES THAT HAVE A DIRECT AND MATERIAL IMPACT ON THOROUGHBRED INDUSTRY PARTICIPANTS AND THEIR BUSINESS ACTIVITIES, WHETHER THOSE ACTIVITIES RELATE TO RACING, BREEDING OR PARI-MUTUEL WAGERING.THE LEGISLATIVE TEAM HAS SECURED PASSAGE OF LEGISLATION TO LEGALIZE ONLINE PARI-MUTUEL WAGERING UNDER THE INTERSTATE HORSERACING ACT. THE TEAM FOR MORE THAN A DECADE ADVOCATED FOR AND EVENTUALLY SECURED CHANGES TO THE TAX CODE THAT MODERNIZED IRS REGULATIONS RELATING TO THE REPORTING AND WITHHOLDING OF PARI-MUTUEL WINNINGS. THE TEAM WORKS ON AN ONGOING BASIS TO SECURE FAVORABLE TAX REFORM DESIGNED TO STIMULATE INVESTMENT IN THOROUGHBRED BLOODSTOCK. OTHER FEDERAL LEGISLATIVE TARGETS INCLUDE IMMIGRATION AND SPORTS BETTING.
THE NTRA REACHES ITS TWO PRIMARY CONSTITUENCIES-RACING CUSTOMERS AND INDUSTRY STAKEHOLDERSTHROUGH A COMBINATION OF PAID, EARNED AND SOCIAL MEDIA.THE NTRA'S MOST POPULAR PROMOTION IS THE NATIONAL HORSEPLAYERS CHAMPIONSHIP (NHC), WITH PRIZE MONEY AND AWARDS TOTALING MORE THAN $3.5 MILLION. THE NHC IS HELD EACH FEBRUARY IN LAS VEGAS, NV.THE NTRA OWNS AND PRODUCES THE ECLIPSE AWARDS, WHICH ANNUALLY RECOGNIZES HUMANS AND EQUINES FOR THEIR CHAMPIONSHIP PERFORMANCES IN NORTH AMERICA.BACKED BY 55 RACETRACKS, ALL MAJOR HORSEMEN'S GROUPS, AND MANY OTHER INDUSTRY STAKEHOLDER ORGANIZATIONS, THE NTRA IN 2009 FORMED THE SAFETY AND INTEGRITY ALLIANCE TO ESTABLISH AND IMPLEMENT NATIONAL STANDARDS AND REFORMS RELATING TO SAFETY, INTEGRITY AND THE WELFARE OF THE THOROUGHBRED.THROUGH A CODE OF STANDARDS AND AN ACCREDITATION PROCESS, THE ALLIANCE INSTITUTES AN EVOLVING SET OF STANDARDS RELATED TO THE FOLLOWING AREAS: 1) INJURY REPORTING AND PREVENTION; 2) A SAFER RACING ENVIRONMENT; 3) UNIFORM EQUINE MEDICATION, TESTING AND PENALTIES; 4) JOCKEY SAFETY, 5) THOROUGHBRED AFTERCARE AND 6) WAGERING INTEGRITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexander M Waldrop CEO & President Partial Year | OfficerTrustee | 50 | $380,369 |
Keith Chamblin COO | OfficerTrustee | 50 | $293,069 |
Amber Florence CFO & Treasurer Partial Year | OfficerTrustee | 50 | $187,651 |
Frederick Widaman Sales And Business Develop | 50 | $165,287 | |
Stephen Driskill Senior Sales Director | 50 | $141,091 | |
Joe Bacigalupo Sr. Dir. Of Government Rel | 50 | $104,137 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Treasure Island Hotel, Production Of The Nhc Prizes For | 3/30/19 | $2,445,062 |
Humana Insurance Health Insurance | 3/30/19 | $180,280 |
Alpine Group Lobbying Fees | 3/30/19 | $277,523 |
Gulfstream Park Production Services Of Eclipse Awards | 3/30/19 | $170,000 |
Juli Rinaldi Production Services Of Eclipse Awards Tr | 3/30/19 | $150,415 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,806,472 |
| 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 | $1,806,472 |
| Total Program Service Revenue | $8,118,213 |
| Investment income | $103,056 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $23,793 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,577,962 |
| 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. | $615,420 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,015,705 |
| Pension plan accruals and contributions | $9,743 |
| Other employee benefits | $118,560 |
| Payroll taxes | $99,611 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,640 |
| Fees for services: Accounting | $50,831 |
| Fees for services: Lobbying | $472,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $54,533 |
| Advertising and promotion | $32,238 |
| Office expenses | $105,601 |
| Information technology | $135,837 |
| Royalties | $0 |
| Occupancy | $73,628 |
| Travel | $183,785 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,046 |
| Interest | $1,073 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $53,611 |
| Insurance | $80,236 |
| All other expenses | $0 |
| Total functional expenses | $10,886,335 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,210,309 |
| Savings and temporary cash investments | $36,119 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $840,680 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,502,581 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $412,122 |
| Net Land, buildings, and equipment | $121,759 |
| Investments—publicly traded securities | $1,799,589 |
| Investments—other securities | $601,088 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $386,361 |
| Total assets | $16,910,608 |
| Accounts payable and accrued expenses | $1,152,709 |
| Grants payable | $0 |
| Deferred revenue | $1,204,709 |
| 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 | $0 |
| Total liabilities | $2,357,418 |
| Net assets without donor restrictions | $14,553,190 |
| Net assets with donor restrictions | $0 |
| 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 | $16,910,608 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that National Thoroughbred Racing has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
United States Polo Association Wellington, FL PURPOSE: CLUB AND MEMBERSHIP DEVELOPMENT | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Marine Manufacturers Association Inc Chicago, IL | $24,852,893 | $19,298,889 |
National Thoroughbred Racing Lexington, KY | $16,910,608 | $10,577,962 |
Club Management Association Of America Alexandria, VA | $9,061,595 | $8,552,388 |
American Camping Association Inc Martinsville, IN | $11,963,370 | $10,286,086 |
International Coach Federation Inc Lexington, KY | $18,635,968 | $11,387,975 |
Association Of Old Crows Alexandria, VA | $7,888,932 | $4,006,226 |
American Volleyball Coaches Assn Lexington, KY | $2,919,842 | $2,493,075 |
Northern Ohio Professional Golfers Association Warrensville Heights, OH | $1,058,271 | $1,553,989 |
American Camping Association Illinois Section Evanston, IL | $1,134,307 | $1,483,779 |
Indiana Section Of The Professional Golfers Association Of America Inc Indianapolis, IN | $1,336,237 | $1,065,938 |
Professional Golfers Association Of America Southern Ohio Section Fairborn, OH | $584,726 | $898,335 |
Ohio Parks & Recreation Assn Westerville, OH | $327,584 | $800,978 |