Kentucky Thoroughbred Farm Managers Club Inc
- Assets
- $18.2k
- Revenue
- $197.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Lexington, KY
- Founding
- 07/1991
- Data as of
- 12/2021
- EIN
- 61-1076634
Organization Overview
Kentucky Thoroughbred Farm Managers Club Inc is located in Lexington, KY. The organization was established in 1991. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Thoroughbred Farm Managers Club 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, Kentucky Thoroughbred Farm Managers Club Inc generated $197.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $204.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Kentucky Thoroughbred Farm Managers Club Inc has awarded 32 individual grants totaling $414,676. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CLUB'S PRIMARY PURPOSE IS TO PROVIDE A FORUM FOR LOCAL FARM MANAGERS OF THOROUGHBRED HORSE FARMS TO MEET AND DISCUSS INDUSTRY ISSUES. THE CLUB HOLDS TEN MEETINGS A YEAR WITH SPEAKERS ON VARIOUS INDUSTRY ISSUES. IT ALSO RAISES MONEY FOR LOCAL CHARITIES THROUGH A GOLF TOURNAMENT FOR ITS MEMBERS. THE CLUB GAVE $101,200 TO LOCAL CHARITIES AND PRESENTED $500 IN SCHOLARSHIPS. THE CLUB ALSO PUBLISHES A DIRECTORY AND FILES A 990-T.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB HOLDS TEN MEETINGS EACH YEAR FOR THE FARM MANAGERS TO GET TOGETHER FOR DINNER AND A SPEAKER ON TOPICS OF MUTUAL INTEREST TO PROMOTE PROFESSIONALISM.
THE CLUB PUBLISHES A MEMBER AND FARM DIRECTORY OF HORSE FARMS IN THE LEXINGTON AND CENTRAL KENTUCKY AREA. THERE ARE APPROXIMATELY 1,400 COPIES DISTRIBUTED TO INTERESTED PARTIES.
THE CLUB HOLDS ANNUAL GOLF AND SPORTING CLAY TOURNAMENTS ORGANIZED BY VOLUNTEERS TO RAISE MONEY FOR LOCAL CHARITIES AND SCHOLARSHIPS. DURING 2021, $101,200 WAS GIVEN TO CHARITIES, AND $500 WAS GIVEN IN SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adrian Wallace Treasurer | OfficerTrustee | 0 | $0 |
Gerry Duffy Vice President | OfficerTrustee | 0 | $0 |
Logan Payne President | OfficerTrustee | 0 | $0 |
Molly Harris Secretary | OfficerTrustee | 0 | $0 |
Scooter Hughes Sergeant-At-Arms | OfficerTrustee | 0 | $0 |
Donnie Snellings Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $25,425 |
| Fundraising events | $84,490 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,915 |
| Noncash contributions included in lines 1a–1f | $25,595 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $119,830 |
| Total Program Service Revenue | $100,370 |
| Investment income | $61 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$33,143 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $196,956 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $104,385 |
| Grants and other assistance to domestic individuals. | $500 |
| 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 | $21,652 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,670 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,580 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $547 |
| Office expenses | $7,316 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,740 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,092 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,568 |
| All other expenses | $15 |
| Total functional expenses | $204,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,179 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,179 |
| 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 | $945 |
| Total liabilities | $945 |
| Net assets without donor restrictions | $17,234 |
| 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 | $18,179 |
Grants Awarded
Over the last fiscal year, Kentucky Thoroughbred Farm Managers Club Inc has awarded $102,280 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Versailles, KY PURPOSE: 2021 BENEVOLENT GIFT | $28,780 |
Lexington, KY PURPOSE: 2021 BENEVOLENT GIFT | $25,000 |
Hazard, KY PURPOSE: 2021 BENEVOLENT GIFT | $12,500 |
Versailles, KY PURPOSE: 2021 BENOVOLENT GIFT | $11,000 |
Lexington, KY PURPOSE: 2021 BENOVOLENT GIFT | $10,000 |
BLUE GRASS FARMS CHARITIES PURPOSE: 2021 BENOVOLENT GIFT | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bellehaven Country Club Inc Alexandria, VA | $40,402,944 | $17,085,559 |
Pi Beta Phi Fraternity Housing Corporation Town Country, MO | $77,087,429 | $19,221,332 |
Olympia Fields Country Club Olympia Fields, IL | $30,077,528 | $14,988,630 |
Willow Oaks Country Club Inc Richmond, VA | $15,889,652 | $10,037,529 |
Memphis Country Club Memphis, TN | $17,898,426 | $9,558,758 |
Academy Of Model Aeronautics Ama Muncie, IN | $14,826,959 | $9,207,922 |
Twin Orchard Country Club Long Grove, IL | $7,888,847 | $8,779,508 |
Kinloch Golf Association Corp ManakinSabot, VA | $45,313,161 | $8,251,750 |
Briarwood Country Club Deerfield, IL | $16,862,462 | $7,936,936 |
Lakewood Country Club Company Westlake, OH | $13,232,237 | $7,948,852 |
Idle Hour Country Club Inc Lexington, KY | $13,827,877 | $6,560,806 |
Chicago Club Chicago, IL | $23,297,083 | $6,965,290 |