Horse Race North Dakota
- Assets
- $901.0k
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 104
- Location
- Fargo, ND
- Founding
- 12/2002
- Data as of
- 12/2021
- 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 12/2021, Horse Race North Dakota employed 104 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 12/2021, Horse Race North Dakota generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.6% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 26.2% 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
2021
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 2021. THE ORGANIZATION ALSO OPERATES PARI-MUTUAL, SIMULCAST LOCATIONS THAT SERVE AS A YEAR-ROUDN VENUE TO PROMOTE HORE RACING AND DEVELOPE FANS WITHIN THE STATE OF ND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kyle Cash Board Member | Officer | 2 | $0 |
John Bubel Director | Officer | 2 | $0 |
Jay Alsop President | Officer | 2 | $0 |
Billy Buchholz Director | Officer | 2 | $0 |
Christopher Plummer Director | Officer | 2 | $0 |
Dean Meyer Director | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $433,290 |
| All other contributions, gifts, grants, and similar amounts not included above | $142,320 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $575,610 |
| Total Program Service Revenue | $267,551 |
| Investment income | $195 |
| 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 | $827,263 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,670,619 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,950 |
| 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 | $324,382 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,610 |
| Fees for services: Accounting | $79,967 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,403 |
| Office expenses | $5,939 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $186,253 |
| Travel | $14,535 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11 |
| Payments to affiliates | $340 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $63,656 |
| All other expenses | $0 |
| Total functional expenses | $1,166,130 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $461,233 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $56,799 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $382,498 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $901,030 |
| Accounts payable and accrued expenses | $356,258 |
| 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 | $356,258 |
| Net assets without donor restrictions | $544,772 |
| 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 | $901,030 |
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| Organization Name | Assets | Revenue |
|---|---|---|
Sioux Falls Sports Authority Sioux Falls, SD | $3,414,358 | $6,543,393 |
Duluth Heritage Sports Center Duluth, MN | $14,309,709 | $1,413,182 |
Horse Race North Dakota Fargo, ND | $901,030 | $1,670,619 |
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