Harness Horsemans Association Of New England Inc
- Assets
- $2.3m
- Revenue
- $726.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Plainville, MA
- Founding
- 03/2003
- Data as of
- 12/2021
- EIN
- 04-3525497
Organization Overview
Harness Horsemans Association Of New England Inc is located in Plainville, MA. The organization was established in 2003. According to its NTEE Classification (N69) the organization is classified as: Equestrian, 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. Harness Horsemans Association Of New England 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, Harness Horsemans Association Of New England Inc generated $726.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 44.1% each year . All expenses for the organization totaled $346.2k during the year ending 12/2021. While expenses have increased by 29.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION SEEKS TO PROMOTE THE WELFARE AND DEVELOPMENT OF HARNESS RACING. SEE ADDITIONAL INFORMATION FOR THE ENTITYS FULL MISSION STATEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE WELFARE AND DEVELOPMENT OF HARNESS RACING
THE ENTITY RECEIVED FUNDS FROM THE MASSACHUSETTS GAMING COMMISSION TO BE UTILIZED IN A HEALTH AND WELFARE FUND FOR MEMBERS OF THE ORGANIZATION REPRESENTING THE OWNERS, TRAINERS, AND DRIVERS AT THE HORSE RACING FACILITY FOR THE BENEFIT OF THE ORGANIZATIONS MEMBERS, THEIR FAMILIES, EMPLOYEES AND OTHERS UNDER THE RULE AND ELIGIBILITY REQUIREMENTS OF THE ORGANIZATION, AS APPROVED BY THE MA GAMING COMMISSION. THE FUNDS ARE TO BE USED FOR FUNDING HEALTH AND PENSION BENEFITS FOR ALL ELIGIBLE MEMBERS AND RELATED INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul London Treasurer | OfficerTrustee | 0 | $0 |
Joseph R Therrien Clerk | OfficerTrustee | 0 | $0 |
James Hardy Vice President | OfficerTrustee | 0 | $0 |
Robert J Mchugh President | OfficerTrustee | 0 | $0 |
Frank M Antonacci Director | Trustee | 0 | $0 |
Joseph Flynn Director | Trustee | 0 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $663,147 |
| Investment income | $29,465 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $33,984 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $726,596 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,700 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $31,995 |
| Compensation of current officers, directors, key employees. | $65,200 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,028 |
| Fees for services: Accounting | $11,285 |
| Fees for services: Lobbying | $66,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,884 |
| Fees for services: Other | $8,503 |
| Advertising and promotion | $9,851 |
| Office expenses | $11,679 |
| Information technology | $176 |
| Royalties | $0 |
| Occupancy | $19,989 |
| Travel | $30 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $471 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $582 |
| Insurance | $2,252 |
| All other expenses | $0 |
| Total functional expenses | $346,229 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $338,091 |
| 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 | $1,800 |
| Net Land, buildings, and equipment | $409 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,979,493 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,319,793 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $308,509 |
| Net assets with donor restrictions | $2,011,284 |
| 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 | $2,319,793 |
Endowment Analysis
| Beg. Balance | $1,615,753 |
| Earnings | $141,747 |
| Net Contributions | $349,612 |
| Other Expense | $89,127 |
| Grants | $6,700 |
| Ending Balance | $2,011,285 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jockey Club New York, NY | $77,383,639 | $14,119,358 |
Ox Ridge Riding And Racquet Club Inc Darien, CT | $12,713,447 | $5,659,718 |
Lphsa Inc Lake Placid, NY | $506,275 | $2,224,218 |
American Horse Trials Foundation Inc Southwick, MA | $1,169,339 | $2,675,908 |
Wilton Riding Club Incorporated Wilton, CT | $810,219 | $1,435,945 |
Green Mountain Horse Association Inc South Woodstock, VT | $5,227,035 | $1,822,357 |
Lovelane Special Needs Horseback Riding Program Inc Lincoln, MA | $10,298,349 | $1,902,873 |
Western New York Harness Horsemens Association Inc Batavia, NY | $1,628,703 | $1,541,793 |
Pegasus Therapeutic Riding Inc Brewster, NY | $5,410,456 | $1,539,175 |
New Canaan Mounted Troop Inc New Canaan, CT | $3,756,567 | $1,103,077 |
Mashomack Polo Inc Millbrook, NY | $269,274 | $915,466 |
Upreach Therapeutic Equestrian Center Inc Goffstown, NH | $1,048,472 | $1,009,372 |