Racing Medication And Testing Consortium Inc
- Assets
- $1.1m
- Revenue
- $718.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Lexington, KY
- Founding
- 11/2005
- Data as of
- 12/2022
- EIN
- 72-1559413
Organization Overview
Racing Medication And Testing Consortium Inc is located in Lexington, KY. The organization was established in 2005. According to its NTEE Classification (D12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Animal-Related and related organizations. As of 12/2022, Racing Medication And Testing Consortium Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Racing Medication And Testing Consortium Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Racing Medication And Testing Consortium Inc generated $718.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $591.7k during the year ending 12/2022. While expenses have increased by 2.3% 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.
Since 2016, Racing Medication And Testing Consortium Inc has awarded 16 individual grants totaling $807,207. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CONSORTIUM FUNDS RESEARCH, DEVELOPS AND PROMOTES POLICY RECOMMENDATIONS, AND EDUCATES STAKEHOLDERS IN SUPPORT OF HORSE RACING SAFETY AND INTEGRITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH, EDUCATION, AND ADVOCACY TO ENSURE THE INTEGRITY OF THE HORSE RACING SPORT AND THE SAFETY OF ITS PARTICIPANTS.RMTC GOALS:DEVELOP AND RECOMMEND POLICIES AND PROHIBITED PRACTICES, AND ENFORCEMENT STRATEGIES REGARDING THE USE OF MEDICATIONS AND METHODS IN CONNECTION WITH TRAINING AND RACING HORSES.DEVELOP A DURABLE WORKING RELATIONSHIP WITH STATE AND NATIONAL RACING REGULATORY AUTHORITIES AND STAKEHOLDER ORGANIZATIONS BY BECOMING A RESPECTED SOURCE OF UNBIASED INFORMATION ON MEDICATION, TESTING, AND RESEARCH.STIMULATE, FOSTER, AND SOLICIT RESEARCH PROPOSALS TO IDENTIFY, DETECT, AND DETER THE USE OF NOVEL SUBSTANCES AND METHODS REPRESENTING INTEGRITY THREATS THAT ENHANCE OR DIMINISH OR OTHERWISE HAVE THE POTENTIAL TO ALTER ATHLETIC PERFORMANCE.DEFINE THE ETHICAL AND LEGITIMATE USE OF THERAPEUTIC MEDICATIONS AND/OR METHODS AND FORMULATE REASONABLE GUIDELINES CONSISTENT WITH SAID USE.DEVELOP AND RECOMMEND UNIFORM LABORATORY TECHNICAL STANDARDS, PROCEDURES, AND PERFORMANCE SPECIFICATIONS FOR ANALYTICAL METHODS AND INSTRUMENTATION USED IN THE DETECTION OF CONTROLLED MEDICATIONS AND/OR BANNED SUBSTANCES.MAINTAIN OVERSIGHT ON LABORATORY CAPABILITIES AND PERFORMANCE THROUGH THE LABORATORY ACCREDITATION PROGRAM, AUDITS BY INDEPENDENT EXPERTS, AND EXTERNAL QUALITY ASSURANCE PROGRAM SAMPLE TESTING.IDENTIFY AND PROMOTE SECURITY, SURVEILLANCE, AND INTELLIGENCE GATHERING PRACTICES AND TECHNIQUES TO SUPPORT ENFORCEMENT OF MEDICATION CONTROLS AND ANTI-DOPING REGULATIONS.ENGAGE WITH STATE AND FEDERAL REGULATORY AGENCIES TO PREVENT THE SYNTHESIS AND MANUFACTURE, IMPORTATION, PURCHASE AND/OR SALE OF ILLEGAL OR PROHIBITED SUBSTANCES INTENDED FOR USE IN HORSES ENGAGED IN RACING OR TRAINING.DEVELOP AND IMPLEMENT EDUCATIONAL PROGRAMS FOR INDUSTRY STAKEHOLDER ORGANIZATIONS RESPONSIBLE FOR MAINTAINING THE INTEGRITY OF THE SPORT AND THE HEALTH OF ITS PARTICIPANTS.ENGAGE AND COLLABORATE WITH OTHER ORGANIZATIONS REGULATING HORSERACING, OTHER EQUINE SPORTING DISCIPLINES, AND OTHER HUMAN AND ANIMAL SPORT, BOTH DOMESTIC AND INTERNATIONAL, TO ACCOMPLISH OUR MISSION. DISSEMINATE ACCURATE AND TIMELY INFORMATION TO STAKEHOLDER ORGANIZATIONS AND THE RACING PRESS VIA MULTIPLE COMMUNICATION CHANNELS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Mary Scollay Executive Director | Officer | 40 | $212,980 |
Michael D Hardy Executive Director (partial Year) | Officer | 40 | $24,107 |
Alex Waldrop Chair/president | OfficerTrustee | 1 | $0 |
Alan Foreman Vice Chair | OfficerTrustee | 1 | $0 |
Hank Zeitlin Vice Chair | OfficerTrustee | 1 | $0 |
Dr Rick Arthur 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 | $714,105 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $714,105 |
| Total Program Service Revenue | $0 |
| Investment income | $4,448 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $718,573 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $83,106 |
| 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. | $242,564 |
| Compensation of current officers, directors, key employees. | $79,319 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $69,716 |
| Pension plan accruals and contributions | $9,433 |
| Other employee benefits | $8,847 |
| Payroll taxes | $18,962 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,718 |
| Fees for services: Accounting | $16,823 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,973 |
| Advertising and promotion | $0 |
| Office expenses | $5,450 |
| Information technology | $6,178 |
| Royalties | $0 |
| Occupancy | $7,741 |
| Travel | $12,733 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,115 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,927 |
| Insurance | $4,133 |
| All other expenses | $0 |
| Total functional expenses | $591,672 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $614,632 |
| Savings and temporary cash investments | $298,175 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $158,868 |
| 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 | $2,619 |
| Net Land, buildings, and equipment | $7,023 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,081,317 |
| Accounts payable and accrued expenses | $50,901 |
| 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 | $0 |
| Total liabilities | $50,901 |
| Net assets without donor restrictions | $1,030,416 |
| 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 | $1,081,317 |
Grants Awarded
Over the last fiscal year, Racing Medication And Testing Consortium Inc has awarded $55,862 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF ILLINOIS CHICAGO PURPOSE: FUND RESEARCH PROJECTS RELATED TO ENSURING THE INTEGRITY OF HORSE RACING. | $7,988 |
UNIVERSITY OF FLORIDA PURPOSE: FUND RESEARCH PROJECTS RELATED TO ENSURING THE INTEGRITY OF HORSE RACING. | $27,424 |
UNIVERSITY OF CALIFORNIA DAVIS PURPOSE: FUND RESEARCH PROJECTS RELATED TO ENSURING THE INTEGRITY OF HORSE RACING. | $20,450 |