Thoroughbred Breeders Association Of New Jersey is located in W Long Branch, NJ. The organization was established in 1948. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thoroughbred Breeders Association Of New Jersey is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2021, Thoroughbred Breeders Association Of New Jersey generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 7 years. 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
TO PROMOTE THE BREEDING AND OWNERSHIP OF THOROUGHBRED HORSES IN THE STATE OF NEW JERSEY
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTE BREEDER'S AWARDS TO BREEDERS, STALLION OWNERS AND OWNERS OF REGISTERED NEW JERSEY-BRED HORSES FINISHING FIRST, SECOND OR THIRD IN OPEN OR RESTRICTED RACES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Ken Garcia Secretary | OfficerTrustee | 5 | $0 |
Mildred Fleming President | OfficerTrustee | 5 | $0 |
Judith Batcha Vice President | OfficerTrustee | 5 | $0 |
Lawrence Fleming Treasurer | OfficerTrustee | 5 | $0 |
Rory Huston Trustee | Trustee | 5 | $0 |
Joe Coles Trustee | Trustee | 5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $6,485 |
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 | $6,485 |
Total Program Service Revenue | $1,712,024 |
Investment income | $3,002 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $27,573 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,749,084 |
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 | $80,000 |
Pension plan accruals and contributions | $2,031 |
Other employee benefits | $9,400 |
Payroll taxes | $6,689 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $22,250 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $15,224 |
Office expenses | $1,672 |
Information technology | -$120 |
Royalties | $0 |
Occupancy | $16,500 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $218 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $3,983 |
All other expenses | $8,902 |
Total functional expenses | $1,559,134 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $165,104 |
Savings and temporary cash investments | $634,308 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $426,942 |
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 | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,300 |
Total assets | $1,227,654 |
Accounts payable and accrued expenses | $55,562 |
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 | $55,562 |
Net assets without donor restrictions | $253,384 |
Net assets with donor restrictions | $918,708 |
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 | $1,227,654 |
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