Horsemens Workers Compensation Insurance Trust is located in New Orleans, LA. The organization was established in 2016. According to its NTEE Classification (Y25) the organization is classified as: State-Sponsored Workers Compensation Reinsurance Organizations, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Horsemens Workers Compensation Insurance Trust 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, Horsemens Workers Compensation Insurance Trust generated $3.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $2.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 7 years. 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE WORKERS COMPENSATION INSURANCE COVERAGE AND RELATED BENEFITS FOR CERTAIN WORKERS PARTICIPATING IN THE HORSE RACING INDUSTRY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Edwin Fenasci Executive Director | Officer | 12.4 | $0 |
Keith Hernandez Trustee | Trustee | 1 | $0 |
Arthur Morrell Trustee | Trustee | 1 | $0 |
Bobby Dupre Trustee | Trustee | 1 | $0 |
Charlotte Stemmans Clavier Trustee | Trustee | 1 | $0 |
Ronald Faucheux Trustee | Trustee | 1 | $0 |
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 | $3,540,400 |
Investment income | $15,708 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$3,792 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $3,552,316 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $1,327,979 |
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 | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $729,300 |
Fees for services: Legal | $22,068 |
Fees for services: Accounting | $57,269 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $88,972 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $3,052 |
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 | $598,236 |
All other expenses | $0 |
Total functional expenses | $2,934,086 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,989,267 |
Savings and temporary cash investments | $723,036 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $874,887 |
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 | $330,921 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $592,096 |
Total assets | $5,510,207 |
Accounts payable and accrued expenses | $137,991 |
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 | $2,847,503 |
Total liabilities | $2,985,494 |
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 |
Retained earnings, endowment, accumulated income, or other funds | $2,524,713 |
Total liabilities and net assets/fund balances | $5,510,207 |
Organization Name | Assets | Revenue |
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Plumbers Welfare Fund-68 Houston, TX | $14,578,428 | $15,954,972 |
Dolese Bros Co Veba Trust Oklahoma City, OK | $445,170 | $18,567,104 |
International Brotherhood Of Electrical Workers Vacation Fund St Louis, MO | $21,682,706 | $21,060,476 |
St Louis Labor Healthcare Network St Louis, MO | $51,048,530 | $16,900,714 |
Automotive Petroleum And Allied Industries Employees Welfare Fund Earth City, MO | $29,790,282 | $16,918,910 |
Ibew-Neca Holiday Trust Fund Local No 1 St Louis, MO | $21,242,231 | $18,382,652 |
Mo-Kan Iron Workers Welfare Fund Kansas City, MO | $33,911,969 | $17,390,399 |
Learfield Communications Group Benefit Trust Inc Jefferson City, MO | $2,893,573 | $17,688,532 |
Ufcw Union Local No 88 Employers Health & Welfare Fund St Louis, MO | $15,413,349 | $16,390,136 |