California Thoroughbred Trainers
- Assets
- $2.4m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 23
- Location
- Arcadia, CA
- Founding
- 12/1989
- Data as of
- 12/2022
- EIN
- 95-3946289
Organization Overview
California Thoroughbred Trainers is located in Arcadia, CA. The organization was established in 1989. According to its NTEE Classification (D61) the organization is classified as: Animal Training, under the broad grouping of Animal-Related and related organizations. As of 12/2022, California Thoroughbred Trainers employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. California Thoroughbred Trainers 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 12/2022, California Thoroughbred Trainers generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $1.4m during the year ending 12/2022. While expenses have increased by 3.7% per year over the past 8 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
SEE SCHEDULE O.THE CALIFORNIA THOROUGHBRED TRAINERS (CTT) IS THE STATE AUTHORIZED ORGANIZATION FORMED FOR THE PURPOSE OF REPRESENTING THE BEST INTERESTS OF ITS MEMBER TRAINERS IN DEALING WITH THE CALIFORNIA HORSE RACING BOARD, THE RACING ASSOCIATIONS, VARIOUS RACING ENTITIES AND THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CALIFORNIA THOROUGHBRED TRAINERS ("CTT") REPRESENTS THE INTERESTS OF THE THOROUGHBRED HORSE RACING TRAINERS AND RACE TRACK WORKERS WHO TEND TO THE HORSES ("BACKSTRETCH WORKERS"). CTT ADMINISTERS A PENSION FUND, PROVIDES RECREATIONAL ACTIVITIES, AND PROVIDES ON-PREMISES CONVENIENCE STORES FOR BACKSTRETCH WORKERS. CTT PROVIDES EDUCATIONAL PROGRAMS FOR TRAINERS. CTT REPRESENTS THE TRAINERS IN NEGOTIATING CONTRACTS AND IN MONITORING LEGISLATION AFFECTING THE HORSE RACING INDUSTRY. CTT ALSO PROVIDES SERVICES AND INFORMATION TO THE RACING PUBLIC TO PROMOTE THOROUGHBRED HORSE RACING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eoin Harty President | OfficerTrustee | 1 | $0 |
Gloria Haley Northern California VP | OfficerTrustee | 1 | $0 |
David Hofmans Southern California VP | OfficerTrustee | 1 | $0 |
Ray Bell Treasurer | OfficerTrustee | 1 | $0 |
Timothy Bellasis Director | Trustee | 1 | $0 |
Sean Mccarthy Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sheppard Mullin Richter & Hampton Llc Legal Services | 12/30/22 | $214,254 |
Baker Mckenzie Legal Services | 12/30/22 | $132,517 |
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 | $33,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,000 |
| Total Program Service Revenue | $2,579,526 |
| Investment income | $41,381 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,269 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,658,176 |
| 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. | $120,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $322,566 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $58,254 |
| Payroll taxes | $36,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $226,426 |
| Fees for services: Accounting | $46,702 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,960 |
| Advertising and promotion | $0 |
| Office expenses | $30,427 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,111 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,316 |
| Interest | $1,522 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,594 |
| Insurance | $25,336 |
| All other expenses | $29,337 |
| Total functional expenses | $1,434,937 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,926 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $133,095 |
| 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 | $24,081 |
| Net Land, buildings, and equipment | $44,644 |
| Investments—publicly traded securities | $587,020 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,550,780 |
| Total assets | $2,374,546 |
| Accounts payable and accrued expenses | $127,584 |
| 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 | $146,402 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $77,817 |
| Total liabilities | $351,803 |
| Net assets without donor restrictions | $550,820 |
| Net assets with donor restrictions | $1,471,923 |
| 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 | $2,374,546 |