Nebraska Horsemens Benevolent & Protective Association Inc
- Assets
- $21.2m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 92
- Location
- Lincoln, NE
- Founding
- 10/1993
- Data as of
- 12/2023
- 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 12/2023, Nebraska Horsemens Benevolent & Protective Association Inc employed 92 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 12/2023, Nebraska Horsemens Benevolent & Protective Association Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $1.7m during the year ending 12/2023. While expenses have increased by 0.4% per year over the past 9 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
2023
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 |
|---|---|---|---|
Name Not Listed Vice President | OfficerTrustee | 0 | $0 |
Name Not Listed President | OfficerTrustee | 0 | $0 |
Name Not Listed Secretary/treasurer/coo | OfficerTrustee | 40 | $147,308 |
Name Not Listed Director | Trustee | 0 | $0 |
Name Not Listed Director | Trustee | 0 | $0 |
Name Not Listed Director | Trustee | 0 | $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 | $0 |
| Investment income | $27,202 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,307,488 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | -$1,262,456 |
| Net Income from Sales of Inventory | $227,675 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,358,405 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,184 |
| 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. | $65,483 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $45,896 |
| Pension plan accruals and contributions | $29,073 |
| Other employee benefits | $8,080 |
| Payroll taxes | $10,801 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $68,401 |
| Fees for services: Lobbying | $57,281 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,154 |
| Advertising and promotion | $23,875 |
| Office expenses | $29,798 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,313 |
| Travel | $27,602 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $58,881 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $58,233 |
| All other expenses | $42,652 |
| Total functional expenses | $1,673,300 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,007,481 |
| Savings and temporary cash investments | $1,313,907 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $468,648 |
| 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 | $253,924 |
| Net Land, buildings, and equipment | $18,146,961 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $6,130 |
| Other assets | $503 |
| Total assets | $21,197,554 |
| Accounts payable and accrued expenses | $650,999 |
| 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 | $9,921,620 |
| Unsecured mortgages and notes payable | $1,109,189 |
| Other liabilities | $1,021,162 |
| Total liabilities | $12,702,970 |
| Net assets without donor restrictions | $8,494,584 |
| 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 | $21,197,554 |