New Mexico Horsemens Association
- Assets
- $1.9m
- Revenue
- $49.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Albuquerque, NM
- Founding
- 07/1968
- Data as of
- 12/2023
- EIN
- 85-0198658
Organization Overview
New Mexico Horsemens Association is located in Albuquerque, NM. The organization was established in 1968. According to its NTEE Classification (N69) the organization is classified as: Equestrian, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, New Mexico Horsemens Association employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Mexico Horsemens Association is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, New Mexico Horsemens Association generated $49.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (25.0%) each year. All expenses for the organization totaled $221.6k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
REPRESENTING HORSEMEN RACING IN NEW MEXICO SINCE 1966 WITH BENEVOLENCE, TIMELY INFORMATION, AND ASSISTANCE TO ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION PROMOTES THE GENERAL WELFARE OF MEMBERS (NEW MEXICO HORSEMEN) BY FOSTERING A HIGHER LEVEL OF PUBLIC AWARENESS AND ACCEPTANCE OF THE HORSE RACING INDUSTRY IN THE STATE OF NEW MEXICO. THE ASSOCIATION ALSO REPRESENTS MEMBERS BY: (1)BEING PRESENT AT EVERY SINGLE GENERAL MEETING OF THE NEW MEXICO RACING COMMISSION TO PROTECT THE INTERESTS OF MEMBERS;AND (2)SERVING AS THE OFFICIAL LIAISON BETWEEN THE HORSEMEN AND TRACK MANAGEMENT AND STATE REGULATORY AUTHORITIES.
THE ASSOCIATION MAINTAINS A MEDICAL BENEFIT FUND FOR THE HEALTH AND WELL- BEING OF MEMBERS, PROVIDING ILLNESS AND ACCIDENT MEDICAL ASSISTANCE PAYMENTS TO QUALIFIED MEMBERS UP TO 1,250 FOR ILLNESS AND ACCIDENTS PER YEAR. THIS INCLUDES RECEIVING AND HOLDING IN CUSTODY FUNDS RECEIVED BY NEW MEXICO STATUTE FOR MEMBER MEDICAL BENEFITS AND THE DISBURSEMENT OF THESE BENEFITS TO MEMBERS AS MANDATED BY STATUTE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Archeluta Director | Trustee | 1 | $0 |
Sean Alfortish Director | Trustee | 1 | $0 |
Bernadette Barrios Director | Trustee | 1 | $0 |
Denise Chambliss Director | Trustee | 1 | $0 |
Jose R Gonzales Jr Director | Trustee | 1 | $0 |
Larry Strain 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 | $3,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,000 |
| Total Program Service Revenue | $5,730 |
| Investment income | $41,021 |
| 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 | $49,751 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $91,267 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,855 |
| Payroll taxes | $7,279 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,598 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $16,346 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,650 |
| Travel | $723 |
| 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 | $12,107 |
| Insurance | $7,469 |
| All other expenses | $0 |
| Total functional expenses | $221,592 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,038 |
| Savings and temporary cash investments | $1,633,936 |
| 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 | $170,607 |
| Investments—publicly traded securities | $77,391 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,896,972 |
| 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 | $247,108 |
| Total liabilities | $247,108 |
| Net assets without donor restrictions | $1,649,864 |
| 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 | $1,896,972 |