Kentucky Thoroughbred Association Inc
- Assets
- $923.4k
- Revenue
- $761.0k
- Investments
- $286.3k
- Employees
- 4
- Location
- Lexington, KY
- Founding
- 07/1984
- Data as of
- 06/2022
- EIN
- 61-1034871
Organization Overview
Kentucky Thoroughbred Association Inc is located in Lexington, KY. The organization was established in 1984. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Kentucky Thoroughbred Association Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Thoroughbred 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 06/2022, Kentucky Thoroughbred Association Inc generated $761.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $816.0k during the year ending 06/2022. While expenses have increased by 13.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVERTISE, FOSTER AND PROMOTE THE THOROUGHBRED HORSE INDUSTRY
Describe the Organization's Program Activity:
Part 3 - Line 4a
KTA PROMOTED THE THOROUGHBRED HORSE INDUSTRY AND, IN GENERAL, ASSISTED, PROMOTED, AND ENCOURAGED COOPERATIVE EFFORT AMONG RACETRACKS, TRAINERS, AND OWNERS FOR THE BENEFIT OF THE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chauncey Morris Executive Director | Officer | 20 | $115,642 |
Joseph Seitz President | Trustee | 1 | $0 |
Walker Hancock Vice President | Trustee | 1 | $0 |
Christopher Baker Secretary | Trustee | 1 | $0 |
Dermot Ryan Treasurer | Trustee | 1 | $0 |
Braxton Lynch Past President | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $752,310 |
| Investment income | $8,916 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$184 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $761,042 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $44,650 |
| 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. | $137,153 |
| Compensation of current officers, directors, key employees. | $76,806 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,717 |
| Pension plan accruals and contributions | $3,154 |
| Other employee benefits | $14,414 |
| Payroll taxes | $12,307 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,682 |
| Fees for services: Accounting | $10,860 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,298 |
| Fees for services: Other | $0 |
| Advertising and promotion | $69,651 |
| Office expenses | $20,304 |
| Information technology | $5,064 |
| Royalties | $0 |
| Occupancy | $6,264 |
| Travel | $16,226 |
| 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 | $17,835 |
| Insurance | $3,877 |
| All other expenses | $1,405 |
| Total functional expenses | $816,044 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $278,214 |
| Savings and temporary cash investments | $20,087 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $4,842 |
| Investments—publicly traded securities | $334,012 |
| Investments—other securities | $286,273 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $923,428 |
| Accounts payable and accrued expenses | $2,731 |
| 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 | $186,003 |
| Total liabilities | $188,734 |
| Net assets without donor restrictions | $630,540 |
| Net assets with donor restrictions | $104,154 |
| 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 | $923,428 |
Grants Awarded
Over the last fiscal year, Kentucky Thoroughbred Association Inc has awarded $45,038 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Louisville, KY PURPOSE: COVID 19 RELIEF FOR BACKSIDE WORKERS AND FAMILIES | $17,538 |
Lexington, KY PURPOSE: PROGRAM SUPPORT FOR PROMOTION OF THE THOROUGHBRED HORSE INDUSTRY | $17,500 |
KENTUCKIANS FOR STRONG LEADERSHIP PURPOSE: SUPPORT FOR ISSUES RELATED TO THE THOROUGHBRED HORSE INDUSTRY | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Kentucky Thoroughbred Association Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Mt Brilliant Foundation Lexington, KY PURPOSE: GENERAL SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cincinnati Usa Regional Chamber Cincinnati, OH | $21,203,474 | $18,734,397 |
Greater Columbus Convention & Visitors Bureau Columbus, OH | $8,565,444 | $15,584,006 |
Williamsburg Area Chamber Of Commerce Williamsburg, VA | $14,757,466 | $13,076,106 |
Naiop Inc Herndon, VA | $24,051,800 | $11,820,157 |
Association Of Small Business Development Centers Burke, VA | $3,386,085 | $9,990,521 |
Indiana Chamber Of Commerce Inc Indianapolis, IN | $7,894,910 | $10,261,881 |
Greater Indianapolis Chamber Of Commerce Inc Indianapolis, IN | $15,080,070 | $11,498,115 |
German-American Chamber Of Commerce Of The Midwest Chicago, IL | $9,537,423 | $9,672,106 |
The Chicago Association Of Realtors Inc Chicago, IL | $11,107,922 | $7,821,690 |
Illinois Small Business Growth Corporation Springfield, IL | $2,478,514 | $7,890,542 |
Mainstreet Organization Of Realtors Downers Grove, IL | $23,598,352 | $9,176,226 |
American Seed Trade Association Alexandria, VA | $7,353,007 | $6,785,185 |