Nebraska Horsemens Benevolent & Protective Association Inc
- Assets
- $12.4m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 5
- Location
- Lincoln, NE
- Founding
- 10/1993
- Data as of
- 12/2021
- EIN
- 47-0721298
Organization Overview
Nebraska Horsemens Benevolent & Protective Association Inc is located in Lincoln, NE. The organization was established in 1993. According to its NTEE Classification (N69) the organization is classified as: Equestrian, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Nebraska Horsemens Benevolent & Protective Association Inc employed 5 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Nebraska Horsemens Benevolent & Protective 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 12/2021, Nebraska Horsemens Benevolent & Protective Association Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. 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
TO FOSTER, PROMOTE, AND ENCOURAGE A HEALTHIER ECONOMIC CLIMATE, A HIGHER LEVEL OF PUBLIC ACCEPTANCE, AND BETTER RELATIONS AMONG PARTICIPANTS OF THE THOROUGHBRED HORSE INDUSTRY
Describe the Organization's Program Activity:
Part 3 - Line 4a
FURTHERING THOROUGHBRED RACING ACTIVITIES IN NEBRASKA THROUGH CASH SUPPLEMENTS AT ALL THE NEBRASKA RACETRACKS.
PROVIDING MEMBER BENEFITS SUCH AS MEDICAL, FUNERAL, AND BACKSIDE BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynne Mcnally Chief Executive Officer | Officer | 40 | $81,148 |
Lori Thomas Secretary/treasurer/coo | OfficerTrustee | 40 | $62,445 |
Gerald Wollesen President | OfficerTrustee | 40 | $0 |
David Anderson Vice President | OfficerTrustee | 15 | $0 |
Schuyler Condon Director | Trustee | 10 | $0 |
Larry Donlin Sr Director | Trustee | 10 | $0 |
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 | $180,000 |
| Investment income | $1,281 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,603,407 |
| 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 | $1,882,455 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,850 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $60,000 |
| Compensation of current officers, directors, key employees. | $130,643 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $31,509 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,800 |
| Payroll taxes | $11,479 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $124,119 |
| Fees for services: Accounting | $30,093 |
| Fees for services: Lobbying | $54,200 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,731 |
| Office expenses | $20,184 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $28,925 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,336 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,856 |
| Insurance | $0 |
| All other expenses | $23,261 |
| Total functional expenses | $1,203,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $621,744 |
| Savings and temporary cash investments | $748,503 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,000 |
| 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 | $11,063,798 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,449,045 |
| Accounts payable and accrued expenses | $79,780 |
| 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 | $3,871,317 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $372,045 |
| Total liabilities | $4,323,142 |
| Net assets without donor restrictions | $8,125,903 |
| 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 | $12,449,045 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Professional Association Of Therapeutic Horsemanship Intl Westminster, CO | $1,976,775 | $2,827,086 |
Colorado Springs Rodeo Association Colorado Springs, CO | $74,186 | $2,419,320 |
Omaha Equestrian Foundation Omaha, NE | $87,852 | $1,522,092 |
Sheridan Wyo Rodeo Inc Sheridan, WY | $1,087,929 | $1,273,070 |
Nebraska Horsemens Benevolent & Protective Association Inc Lincoln, NE | $12,449,045 | $1,882,455 |
Fort Madison Rodeo Corporation Fort Madison, IA | $1,926,637 | $1,322,191 |
Dressage Foundation Inc Lincoln, NE | $5,766,770 | $817,574 |
The Missouri Quarter Horse Assn Cape Girardeau, MO | $199,114 | $484,150 |
Iowa Quarter Horse Association Delta, IA | $566,832 | $581,039 |
Rocky Mountain Reining Horse Association Johnstown, CO | $490,766 | $503,226 |
Western Dressage Association Of America Parker, CO | $199,419 | $495,559 |
Quarter Horse Assoc Of Nebraska Osceola, NE | $246,701 | $486,538 |