Home Talent Colt Stakes Association
- Assets
- $26.1k
- Revenue
- $308.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Berlin Center, OH
- Founding
- 05/2017
- Data as of
- 12/2022
- EIN
- 31-1085083
Organization Overview
Home Talent Colt Stakes Association is located in Berlin Center, OH. The organization was established in 2017. According to its NTEE Classification (N69) the organization is classified as: Equestrian, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Home Talent Colt Stakes Association is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Home Talent Colt Stakes Association generated $308.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $310.1k during the year ending 12/2022. While expenses have increased by 5.0% per year over the past 6 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
HOME TALENT COLT STAKES ASSOCIATION PROMOTES AND IMPROVES THE SPORT OF HARNESS RACING AND UNITES ALL PERSONS WITHIN THE HOME TALENT CIRCUIT INTERESTED IN PROMOTING AND MAINTAINING THE INTEGRITY OF THE SPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOME TALENT COLT STAKES ASSOCIATION COORDINATES HARNESS RACING ACTIVITIES FOR THE MEMBERS WHO BELONG TO THE ASSOCIATION WITH THE 14 MEMBER COUNTY FAIRS THAT ARE PART OF THE HOME TALENT CIRCUIT. THIS INCLUDES ADOPTING RULES AND REGULATIONS UNDER WHICH ALL RACES WILL BE CONDUCTED, KEEPING RECORDS OF THE HORSES AND HORSEMEN WHO PARTICIPATE IN THE RACING PROGRAM WITHIN THE CIRCUIT AND COMPUTING THE AMOUNT OF MONEY TO BE DISTRIBUTED AMONG THE HORSEMEN.
HOME TALENT COLT STAKES ASSOCIATION GRANTS AN ANNUAL SCHOLARSHIP TO STUDENTS ACTIVE IN OHIO HARNESS RACING AT THE COUNTY FAIRS INCLUDED IN THE APPROVED CIRCUITS. STUDENTS MUST COMPLETE AN APPLICATION PROCESS WHICH INCLUDES WRITING AN ESSAY AND OBTAINING LETTERS OF RECOMMENDATION FROM PERSONS INVOLVED IN HARNESS RACING AS AN OFFICIAL OR FAIR BOARD MEMBER. THE RECIPIENT IS ALSO REQUIRED TO SHOW EVIDENCE OF ENROLLMENT IN A POST SECONDARY INSTITUTION TO RECEIVE THE SCHOLARSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ed Corpman Director | Trustee | 1 | $0 |
Charles Fisher Director | Trustee | 1 | $0 |
Dan Conkright Director | Trustee | 1 | $0 |
Dr Rich Mairs Director | Trustee | 1 | $0 |
Edna Cox Director | Trustee | 1 | $0 |
Elwood Woolman Secretary/treasurer | OfficerTrustee | 2 | $6,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $308,715 |
| Investment income | $0 |
| 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 | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $308,715 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,680 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $740 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,500 |
| Office expenses | $1,092 |
| Information technology | $249 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $635 |
| All other expenses | $8,901 |
| Total functional expenses | $310,062 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,125 |
| 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 | $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 | $0 |
| Total assets | $26,125 |
| 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 | $26,125 |
| 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 | $26,125 |