Horse Race North Dakota
- Assets
- $489.4k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 98
- Location
- Fargo, ND
- Founding
- 12/2002
- Data as of
- 12/2022
- EIN
- 26-0015640
Organization Overview
Horse Race North Dakota is located in Fargo, ND. The organization was established in 2002. According to its NTEE Classification (N31) the organization is classified as: Community Recreational Centers, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Horse Race North Dakota employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Horse Race North Dakota is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Horse Race North Dakota generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 28.8% each year . All expenses for the organization totaled $1.2m during the year ending 12/2022. While expenses have increased by 23.6% 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
THE MISSION OF HRND AND ND HORSE PARK IS TO DEVELOP AND PROMOTE THE SPORT OF LIVE HORSE RACING AND ALL EQUINERELATED ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EXEMPT PURPOSE OF HRND IS TO PROMOTE LIVE HORSE RACING IN THE STATE OF ND. LIVE HORSE RACING WAS CONDUCTED OVER 3 WEEKENDS IN 2022. THE ORGANIZATION ALSO OPERATES PARI-MUTUAL, SIMULCASE LOCATIONS THAT SERVE AS A YEAR-ROUND VENUE TO PROMOTE HORSE RACING AND DEVLOPE FANS WITHIN THE STATE OF ND.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Alsop President | Officer | 2 | $0 |
John Bubel Board Member | Officer | 2 | $0 |
Doug Plummer Board Member | Officer | 2 | $0 |
Leigh Backhaus Board Member | Officer | 2 | $0 |
Billy Buchholz Board Member | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $340,360 |
| All other contributions, gifts, grants, and similar amounts not included above | $134,356 |
| Noncash contributions included in lines 1a–1f | $9,050 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $474,716 |
| Total Program Service Revenue | $204,772 |
| Investment income | $9 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $820,299 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,499,796 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,000 |
| 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 | $334,233 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $90 |
| Fees for services: Accounting | $78,951 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,759 |
| Office expenses | $3,772 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $226,989 |
| Travel | $11,647 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,296 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,900 |
| Insurance | $51,167 |
| All other expenses | $0 |
| Total functional expenses | $1,247,617 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $78,213 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $411,140 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $489,353 |
| Accounts payable and accrued expenses | $379,058 |
| 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 | $379,058 |
| Net assets without donor restrictions | $110,295 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $140,000 |
| 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 | $489,353 |