Delaware Standardbred Owners Association Inc
- Assets
- $7.9m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 5
- Location
- Dover, DE
- Founding
- 04/1998
- Data as of
- 09/2022
- EIN
- 52-2027153
Organization Overview
Delaware Standardbred Owners Association Inc is located in Dover, DE. The organization was established in 1998. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 09/2022, Delaware Standardbred Owners Association Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Delaware Standardbred Owners 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 09/2022, Delaware Standardbred Owners Association Inc generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.2%) each year. All expenses for the organization totaled $3.5m during the year ending 09/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION PROMOTES AND PROTECTS THE WELFARE OF HORSEMEN IN DELAWARE. IT NEGOTIATES PURSE STRUCTURE, INSURANCE AND WELFARE PROGRAMS AND COUNCILS AND INFORMS THE HORSEMEN ON MATTERS PERTAINING TO HARNESS RACING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE INSURANCE AND OTHER WELFARE PROGRAMS TO DELAWARE HORSEMEN AND TO NEGOTIATE WITH THE LOCAL RACETRACKS FOR THE BENEFIT OF THE HORSEMEN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Salvatore Dimario Executive Di | Officer | 40 | $186,923 |
George Dennis 1st Vice Pre | OfficerTrustee | 1 | $0 |
Frank Deliberti Treasurer | OfficerTrustee | 1 | $0 |
Andy Markano President | OfficerTrustee | 1 | $0 |
Brenda Bramble Director | OfficerTrustee | 1 | $0 |
Frances E West Secretary | OfficerTrustee | 1 | $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 | $3,946,344 |
| Investment income | -$2,680,304 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$38,237 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,227,803 |
| 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 | $2,859,962 |
| Compensation of current officers, directors, key employees. | $186,923 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $162,498 |
| Pension plan accruals and contributions | $10,481 |
| Other employee benefits | $0 |
| Payroll taxes | $25,205 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $55,965 |
| Fees for services: Accounting | $9,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $64,356 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $20,995 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,781 |
| Travel | $5,205 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,320 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,745 |
| Insurance | $0 |
| All other expenses | $6,341 |
| Total functional expenses | $3,490,874 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,074,008 |
| Savings and temporary cash investments | $662,485 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $80,815 |
| 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 | $51,639 |
| Net Land, buildings, and equipment | $16,540 |
| Investments—publicly traded securities | $4,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,034,074 |
| Total assets | $7,923,561 |
| 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 | $69,504 |
| Total liabilities | $69,504 |
| Net assets without donor restrictions | $7,854,057 |
| 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 | $7,923,561 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Meadows Standardbred Owners Association Meadow Lands, PA | $2,546,597 | $10,372,771 |
Pradera Corporation Philadelphia, PA | $3,527,505 | $9,032,798 |
Cecelia Housing Inc Bethesda, MD | $234,000 | $4,045,313 |
Delaware Standardbred Owners Association Inc Dover, DE | $7,923,561 | $1,227,803 |
King Farm Citizens Assembly Inc Rockville, MD | $5,618,346 | $3,623,136 |
Bucks County Housing Group Inc Warminster, PA | $3,270,461 | $3,883,677 |
Monmouth Council No 9 Civil Service Association Housing Corporation Asbury Park, NJ | $13,033,199 | $4,484,843 |
Allentown Bnai Brith Housing Corp Allentown, PA | $7,631,458 | $3,117,871 |
Maryland Multi Housing Association Inc Owings Mills, MD | $1,247,335 | $1,618,703 |
Villages At Seven Springs Inc Champion, PA | $1,616,065 | $1,433,690 |
Catawissa Legion Home Association Bloomsburg, PA | $92,923 | $1,353,858 |
Lake Heritage Property Owners Asso Gettysburg, PA | $4,579,849 | $1,515,374 |