Saratoga Harness Horsepersons Association Inc
- Assets
- $1.3m
- Revenue
- $767.0k
- Investments
- $292.6k
- Employees
- 4
- Location
- Saratoga Springs, NY
- Founding
- 01/1997
- Data as of
- 12/2022
- EIN
- 14-1781704
Organization Overview
Saratoga Harness Horsepersons Association Inc is located in Saratoga Springs, NY. The organization was established in 1997. According to its NTEE Classification (D03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Animal-Related and related organizations. As of 12/2022, Saratoga Harness Horsepersons Association Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Saratoga Harness Horsepersons 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, Saratoga Harness Horsepersons Association Inc generated $767.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $512.4k during the year ending 12/2022. While expenses have increased by 16.0% 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
TO PROMOTE THE WELFARE HARNESS RACING WITH SPECIAL REGARD TO THE SARATOGA SPRINGS, NEW YORK AREA AND PROMOTE THE WELFARE OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE REDUCED RATE INSURANCE COVERAGES TO MEMBERS OF THE ASSOCIATION. APPROXIMATELY FIFTY MEMBERS AND MEMBER DEPENDENTS TAKE ADVANTAGE OF THIS BENEFIT.
DISASTER AND HARDSHIP RELIEF - DURING THE YEAR ENDED DECEMBER 31, 2022 THE ASSOCIATION PROVIDED HARDSHIP ASSISTANCE TO 4 MEMBERS WHO WERE SUFFERING FROM ILLNESS AND UNABLE TO MEET FINANCIAL OBLIGATIONS.
PROVIDE NON-QUALIFIED RETIREMENT SAVINGS AND SECURITY TO TRAINERS AND DRIVERS THAT PARTICIPATE IN HARNESS RACING. MORE THAN FIFTY MEMBERS CURRENTLY ARE ENROLLED IN THE PLAN. DURING THE YEAR ENDED DECEMBER 31, 2022 NO DISTRIBUTIONS WERE MADE TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Cross Director | Trustee | 0 | $0 |
Jeff Cantine Director | Trustee | 0 | $0 |
Mickey Mcgivern Director | Trustee | 0 | $0 |
Scott Mongeon Director | Trustee | 0 | $0 |
Mark Whitcroft Director | Trustee | 0 | $0 |
Kyle Spagnola Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $15,727 |
| 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 | $15,727 |
| Total Program Service Revenue | $0 |
| Investment income | $8,369 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,298 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $766,982 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,357 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $313,817 |
| 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 | $58,588 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,872 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,854 |
| Fees for services: Accounting | $39,878 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,179 |
| Advertising and promotion | $33,113 |
| Office expenses | $7,189 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,619 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $862 |
| Insurance | $3,815 |
| All other expenses | $294 |
| Total functional expenses | $512,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $912,075 |
| Savings and temporary cash investments | $67,230 |
| 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 | $3,419 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $292,583 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,275,307 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,275,307 |
| 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 | $1,275,307 |
Grants Awarded
Over the last fiscal year, Saratoga Harness Horsepersons Association Inc has awarded $10,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SARATOGA GAMING AND RACEWAY FOUNDATION INC PURPOSE: DONATION | $5,000 |
SUNSHINE HORSES INC PURPOSE: DONATION | $5,000 |