Iowa Quarter Horse Racing
- Assets
- $296.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Adel, IA
- Founding
- 08/2003
- Data as of
- 12/2021
- EIN
- 42-1292717
Organization Overview
Iowa Quarter Horse Racing is located in Adel, IA. The organization was established in 2003. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Quarter Horse Racing 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 12/2021, Iowa Quarter Horse Racing generated $85.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.7%) each year. All expenses for the organization totaled $60.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (16.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
TO PROMOTE THE BREEDING AND RACING OF QUARTER HORSES IN IOWA WITH THE RACING ASSOCIATION OF CENTRAL IOWA AND SPONSORING STAKES RACES, RECOGNIZING OUTSTANDING OWNERS AND BREEDERS, AND SPONSORING A YOUTH DAYS EVENT TO PROMOTE INTEREST IN QUARTER HORSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Troi Mulford Treasurer | 20 | $7,000 | |
Chris Hovey Secretary | 20 | $5,000 | |
Butch Hammer Past President | 1 | $0 | |
Jim Harvey Director | 1 | $0 | |
Butch Bain Director | 1 | $0 | |
Bob Brown Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,885 |
| Total Program Service Revenue | $79,994 |
| Membership dues | $0 |
| Investment income | $1,644 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $85,523 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $12,000 |
| Professional fees and other payments to independent contractors | $24,680 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $1,283 |
| Other expenses | $22,231 |
| Total expenses | $60,194 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $295,842 |
| Other assets | $0 |
| Total assets | $295,962 |
| Total liabilities | $0 |
| Net assets or fund balances | $295,962 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Iowa Quarter Horse Racing has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Prairie Meadows Race Track & Casino Inc Altoona, IA PURPOSE: Youth Scholarships | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Association Of Tax Professionals Inc Appleton, WI | $15,322,195 | $11,606,289 |
National Association Of Electrical Distributors St Louis, MO | $12,015,051 | $10,580,917 |
Chicagoland Entrepreneurial Center Chicago, IL | $5,911,149 | $8,140,473 |
Minnesota Hospital Association St Paul, MN | $27,636,744 | $11,552,322 |
International Dairy-Deli-Bakery Association Madison, WI | $22,953,024 | $8,197,084 |
Property Loss Research Bureau Downers Grove, IL | $29,282,847 | $8,342,411 |
National Funeral Directors Association Of The United States I Brookfield, WI | $21,618,319 | $10,407,549 |
Residential Real Estate Council Chicago, IL | $27,056,402 | $11,169,926 |
Engine Manufacturers Association Chicago, IL | $15,542,068 | $8,146,219 |
National Board Of Certification And Recert Of Nurse Anesthetists Chicago, IL | $34,872,411 | $14,011,594 |
Aca International Eagan, MN | $12,262,505 | $9,311,579 |
Minneapolis Downtown Improvement District Minneapolis, MN | $3,331,993 | $8,257,561 |