Maryland Horse Breeders Association Inc
- Assets
- $3.3m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 12
- Location
- Reisterstown, MD
- Founding
- 05/2004
- Data as of
- 03/2023
- EIN
- 52-0580070
Organization Overview
Maryland Horse Breeders Association Inc is located in Reisterstown, MD. The organization was established in 2004. According to its NTEE Classification (D03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Animal-Related and related organizations. As of 03/2023, Maryland Horse Breeders Association Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maryland Horse Breeders 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 03/2023, Maryland Horse Breeders Association Inc generated $2.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $1.9m during the year ending 03/2023. While expenses have increased by 0.2% per year over the past 8 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 ENCOURAGE, PROMOTE, PROTECT AND IMPROVE THE HORSE BREEDING INDUSTRY IN MARYLAND. WHILE THE EMPHASIS HAS BEEN PLACED ON THE PRODUCTION OF THOROUGHBRED RACE HORSES, THE MHBA ENCOURAGES ALL SPORTS RELATING TO THE USE OF THE HORSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MARYLAND HORSE BREEDERS ASSOCIATION (MHBA) UTILIZES PUBLICATIONS AS A MEANS OF PROMOTING THE HORSE INDUSTRY AND ENCOURAGING HORSE BREEDING AND PARTICIPATION IN HORSE SPORTS. THE MHBA PUBLISHES THE "MID-ATLANTIC THOROUGHBRED", A FOUR-COLOR MONTHLY MAGAZINE THAT COVERS RACING AND BREEDING IN MARYLAND AND THROUGHOUT THE REGION. IN ADDITION, MHBA PUBLISHES AN ANNUAL GUIDE TO THOROUGHBRED FARMS IN MARYLAND AND VARIOUS POSTERS, BROCHURES AND GUIDES THAT EDUCATE THE PUBLIC ABOUT RACING AND BREEDING IN THE STATE OF MARYLAND.
THE MARYLAND HORSE BREEDERS ASSOCIATION (MHBA) UTILIZES PUBLICATIONS AS A MEANS OF PROMOTING THE HORSE INDUSTRY AND ENCOURAGING HORSE BREEDING AND PARTICIPATION IN HORSE SPORTS. THE MHBA PUBLISHES THE "MID-ATLANTIC THOROUGHBRED", A FOUR-COLOR MONTHLY MAGAZINE THAT COVERS RACING AND BREEDING IN MARYLAND AND THROUGHOUT THE REGION. IN ADDITION, MHBA PUBLISHES AN ANNUAL GUIDE TO THOROUGHBRED FARMS IN MARYLAND AND VARIOUS POSTERS, BROCHURES AND GUIDES THAT EDUCATE THE PUBLIC ABOUT RACING AND BREEDING IN THE STATE OF MARYLAND.
MHBA FUNCTIONS AS AN INFORMATION RESOURCE FOR HORSE BREEDERS AND OWNERS, THE MEDIA, COMMUNITY AND GOVERNMENTAL ORGANIZATIONS, AND THE GENERAL PUBLIC. BREEDERS AND OWNERS REGISTER THEIR MARYLAND BRED HORSES WITH THE ASSOCIATION IN ORDER TO QUALIFY FOR SPECIFIC RACES RESTRICTED TO MARYLAND - BREDS.
EDUCATIONAL PROGRAMS HELD FOR MEMBERS AND THE GENERAL PUBLIC TO EDUCATE ON TOPICS RELEVANT TO THE HORSE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cricket Goodall Executive Di | 50 | $147,278 | |
George Adams Director | Trustee | 1 | $0 |
Amy Burk Director | Trustee | 1 | $0 |
Ellen Charles Director | Trustee | 1 | $0 |
Tim Clark Director | Trustee | 1 | $0 |
Michael J Harrison Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $72,710 |
| 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 | $72,710 |
| Total Program Service Revenue | $2,116,452 |
| Investment income | $24,485 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$24,940 |
| Net Income from Fundraising Events | -$21,690 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,173,917 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,000 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $633,447 |
| Pension plan accruals and contributions | $62,752 |
| Other employee benefits | $70,683 |
| Payroll taxes | $48,835 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,432 |
| Fees for services: Accounting | $61,355 |
| Fees for services: Lobbying | $61,614 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,035 |
| Fees for services: Other | $0 |
| Advertising and promotion | $80,072 |
| Office expenses | $76,538 |
| Information technology | $2,123 |
| Royalties | $0 |
| Occupancy | $80,606 |
| Travel | $14,382 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,147 |
| Interest | $11,316 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,906 |
| Insurance | $17,710 |
| All other expenses | $178,106 |
| Total functional expenses | $1,900,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $458,036 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $500,000 |
| Accounts receivable, net | $455,037 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,978 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $91,364 |
| Net Land, buildings, and equipment | $1,121,620 |
| Investments—publicly traded securities | $639,071 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,276,106 |
| Accounts payable and accrued expenses | $261,982 |
| Grants payable | $0 |
| Deferred revenue | $33,106 |
| 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 | $285,418 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $192,676 |
| Total liabilities | $773,182 |
| Net assets without donor restrictions | $2,502,924 |
| 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 | $3,276,106 |
Grants Awarded
Over the last fiscal year, Maryland Horse Breeders Association Inc has awarded $64,454 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BEYOND THE WIRE | | | $30,000 |
MARYLAND HORSE FOUNDATION | | | $34,454 |