Thoroughbred Club Of America Inc
- Assets
- $2.6m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 40
- Location
- Lexington, KY
- Founding
- 09/1974
- Data as of
- 12/2021
- EIN
- 61-0488425
Organization Overview
Thoroughbred Club Of America Inc is located in Lexington, KY. The organization was established in 1974. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Thoroughbred Club Of America Inc employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thoroughbred Club Of America 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, Thoroughbred Club Of America Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 2.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, FOSTER AND ENCOURAGE BETTER BUSINESS RELATIONS IN THE THOROUGHBRED INDUSTRY
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLUB RESTAURANT - CLUB PROVIDES RESTAURANT SERVICES FOR ITS MEMBERS CONVENIENCE WHILE ATTENDING RACING AND OTHER THOROUGHBRED INDUSTRY EVENTS AT KEENELAND.
TESTIMONIAL DINNER - DINNER TO HONOR A SPECIAL GUEST WHO MADE AN OUTSTANDING CONTRIBUTION TO THE THOROUGHBRED INDUSTRY.
HISTORICAL LIBRARY - THE CLUB PROVIDES TO ITS MEMBERS AN EXTENSIVE HISTORICAL LIBRARY FOR THEIR USE IN THOROUGHBRED HORSE RESEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Gardner General Manager | 40 | $122,064 | |
W Chapman Hopkins Director | Trustee | 1 | $0 |
Rosie Hundley Director | Trustee | 1 | $0 |
Tony Lacy President | Trustee | 1 | $0 |
Katie Lamonica Past President | Trustee | 1 | $0 |
Gary Bush Director | Trustee | 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 | $17,700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,700 |
| Total Program Service Revenue | $1,739,547 |
| Investment income | $115 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,805 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,755,557 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $122,064 |
| Compensation of current officers, directors, key employees. | $85,445 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $306,721 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $103,976 |
| Payroll taxes | $46,598 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,690 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,346 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $38,400 |
| Travel | $0 |
| 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 | $73,323 |
| Insurance | $36,343 |
| All other expenses | $185,366 |
| Total functional expenses | $1,646,355 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,776,645 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $171,980 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $93,551 |
| Prepaid expenses and deferred charges | $27,114 |
| Net Land, buildings, and equipment | $471,324 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $57,273 |
| Total assets | $2,597,887 |
| Accounts payable and accrued expenses | $75,901 |
| Grants payable | $0 |
| Deferred revenue | $764,816 |
| 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 | $130,890 |
| Total liabilities | $971,607 |
| Net assets without donor restrictions | $1,569,007 |
| Net assets with donor restrictions | $57,273 |
| 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 | $2,597,887 |
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