California Thoroughbred Breeders Association
- Assets
- $5.5m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 8
- Location
- Arcadia, CA
- Founding
- 11/1945
- Data as of
- 12/2023
- EIN
- 95-1682276
Organization Overview
California Thoroughbred Breeders Association is located in Arcadia, CA. The organization was established in 1945. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2023, California Thoroughbred Breeders Association employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. California Thoroughbred Breeders Association is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2023, California Thoroughbred Breeders Association generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $1.9m 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
THE ADVANCEMENT OF THOROUGHBRED BREEDING AND RACING IN CALIFORNIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGISTRATION OF THOROUGHBRED HORSES IN CALIFORNIA & INCENTIVE AWARDS:THOROUGHBRED HORSES THAT ARE REGISTERED ARE ELIGIBLE FOR INCENTIVE AWARDS FUNDED THROUGH PARI-MUTUAL WAGERING ON AUTHORIZED RACES MOSTLY CONDUCTED OR PRODUCED IN CALIFORNIA. AS THE RECOGNIZED REGISTERING AGENCY, THE ASSOCIATION COLLECTS AND DISTRIBUTES VARIOUS INCENTIVE AWARDS TO THOROUGHBRED BREEDERS AND OWNERS OF CALIFORNIA-BRED THOROUGHBREDS AND CALIFORNIA BASED STALLIONS. THE ASSOCIATION ALSO CONDUCTS AN ANNUAL AUCTION OF THOROUGHBREDS, FOR WHICH IT RECEIVES ENTRY FEES AND A COMMISSION FROM THE SALE OF HORSES.
CONDUCT ANNUAL NORTHERN CALIFORNIA YEARLING SALE: THE ANNUAL NORTHERN CALIFORNIA YEARLING SALE BRINGS TOGETHER SELLERS AND BUYERS FOR THE ADVANCEMENT OF HORSE RACING IN CALIFORNIA. IN 2023, OVER 20 CONSIGNORS PARTICIPATED AND 230 HORSES WERE SOLD AT CTBA'S SOUTHERN CALIFORNIA AND NORTHERN CALIFORNIA SALES.
CTBA PUBLISHES A MONTHLY MAGAZINE: CALIFORNIA THOROUGHBRED TO WHICH ALL MEMBERS RECEIVE ANNUAL SUBSCRIPTIONS. CALIFORNIA THOROUGHBRED MAGAZINE HAS LONG BEEN RECOGNIZED AS A LEADING INDUSTRY PUBLICATION. WE ARE DEDICATED TO BUILDING UPON THAT FOUNDATION. ONE WAY THIS IS BEING ACHIEVED IS BY WORKING TOGETHER IN PROVIDING ARTICLES THAT ARE SIGNIFICANT IN ASSISTING IN FARM MANAGEMENT AND ANIMAL HUSBANDRY. THE MAGAZINE ALSO BRINGS TOGETHER ADVERTISERS AND A PRECISE TARGET MARKET. STALLION OWNERS ARE ABLE TO COST EFFECTIVELY REACH THE REAL DECISION-MAKERS WITH THEIR ADVERTISING DOLLARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Lovingier Chairperson | OfficerTrustee | 2 | $0 |
George Schmitt Vice Chairman | OfficerTrustee | 2 | $0 |
Pete Parrella Treasurer | OfficerTrustee | 2 | $0 |
Susan Greene Secretary | OfficerTrustee | 2 | $0 |
Gloria Haley Director | Trustee | 1 | $0 |
John Harris Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nick Alexander Thoroughbred Breeder Awards | 12/30/23 | $501,872 |
Reddam Racing Llc Thoroughbred Breeder Awards | 12/30/23 | $462,828 |
Terry C Lovingier Thoroughbred Breeder Awards | 12/30/23 | $230,313 |
The Blood-horse Publications Magazine Printing Publication | 12/30/23 | $216,010 |
Richard Barton Enterprises Thoroughbred Breeder Awards | 12/30/23 | $207,817 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $58,321 |
| 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 | $58,321 |
| Total Program Service Revenue | $1,573,830 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $30,000 |
| 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 | $1,762,427 |
| 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. | $378,756 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $272,951 |
| Pension plan accruals and contributions | $7,358 |
| Other employee benefits | $54,580 |
| Payroll taxes | $44,577 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,805 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $90,812 |
| Advertising and promotion | $40,435 |
| Office expenses | $236,548 |
| Information technology | $40,978 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $71,881 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,935 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,169 |
| Insurance | $38,283 |
| All other expenses | $82,349 |
| Total functional expenses | $1,889,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $258,620 |
| Savings and temporary cash investments | $3,445,486 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,661,568 |
| 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 | $72,397 |
| Net Land, buildings, and equipment | $80,194 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,518,265 |
| Accounts payable and accrued expenses | $3,782 |
| Grants payable | $0 |
| Deferred revenue | $62,224 |
| 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 | $4,600,934 |
| Total liabilities | $4,666,940 |
| Net assets without donor restrictions | $851,325 |
| 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 | $5,518,265 |