Florida Quarter Horse Racing Association Inc
- Assets
- $520.2k
- Revenue
- $5.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Tallahassee, FL
- Founding
- 06/2007
- Data as of
- 12/2019
- EIN
- 43-2098089
Organization Overview
Florida Quarter Horse Racing Association Inc is located in Tallahassee, FL. The organization was established in 2007. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, 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. Florida Quarter Horse Racing Association Inc 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 12/2019, Florida Quarter Horse Racing Association Inc generated $5.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (59.2%) each year. All expenses for the organization totaled $177.3k during the year ending 12/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE QUARTER HORSE RACING IN FLORIDA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FQHRA PROMOTES THE BREEDING AND OWNING OF QUARTER HORSES IN FLORIDA AND THE EDUCATION OF MEMBERS OF LEGISLATION NEEDED TO ENHANCE QUARTER HORSE RACING SO THAT IT HAS THE SAME LEGAL BENEFITS AS OTHER BREEDS RACING IN FLORIDA.THE FQHRA REPRESENTS THE OWNERS, BREEDERS, AND TRAINERS AT RACE TRACKS TO ENSURE THAT THE ADVERTISED PURSES ARE PAID TO THE APPROPRIATE PARTIES AND TO ENSURE THE SAFETY OF ALL INVOLVED IN THE RACES.FQHRA MONITORS RACE CONDITIONS AT QUARTER HORSE MEETS, ADHERENCE TO TRACK RACING RULES, AND FLORIDA STATUTES RELATED TO QUARTER HORSE RACING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Smith President | OfficerTrustee | 4 | $0 |
Stephen D Fisch Executive Director | OfficerTrustee | 20 | $0 |
David Muzio Treasurer | OfficerTrustee | 1 | $0 |
William S Smith Secretary / Director | OfficerTrustee | 1 | $0 |
Gary Walker Vice President / Director | OfficerTrustee | 1 | $0 |
Monica Williams Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $328 |
| 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 | $5,077 |
| Statement of Expenses | |
|---|---|
| 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 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $214 |
| Information technology | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $177,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,494 |
| Savings and temporary cash investments | $471,689 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $520,183 |
| 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 | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $520,183 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Florida Quarter Horse Racing Association Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
American Quarter Horse Association Amarillo, TX PURPOSE: Racing Council Grant | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goodie Nation Inc Atlanta, GA | $6,929,090 | $12,181,074 |
Better Business Bureau Of Metropoliton Atlanta Inc Atlanta, GA | $4,995,221 | $6,438,546 |
Herman J Russell Center For Innovation And Entrepreneurship In Atlanta, GA | $21,225,162 | $9,072,660 |
The Better Business Bureau Of Metropolitan Birmingham Incorportd Birmingham, AL | $1,159,880 | $2,115,172 |
Institute For Commercialization Of Florida Technology Inc Tampa, FL | $17,091,469 | $342,694 |
Atlanta Committee For Progress Inc Atlanta, GA | $1,166,579 | $1,555,000 |
National Association Of Minority Mortgage Bankers Of America Inc Orlando, FL | $337,622 | $1,570,248 |
American Transaction Processors Coalition Atlanta, GA | $187,359 | $1,617,250 |
African American Credit Union Coalition Snellville, GA | $676,813 | $1,509,936 |
Community Economic Development Association Of Pensacola And Escam Pensacola, FL | $509,626 | $1,163,356 |
Coastal Area District Development Authority Brunswick, GA | $23,475,246 | $6,775,670 |
Carroll County Economic Development Carrollton, GA | $4,543,478 | $2,769,284 |