New Jersy Thoroubred Horesmans Benevolent Association Inc
- Assets
- $12.0m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Oceanport, NJ
- Founding
- 04/1992
- Data as of
- 12/2021
- EIN
- 22-2904953
Organization Overview
New Jersy Thoroubred Horesmans Benevolent Association Inc is located in Oceanport, NJ. The organization was established in 1992. According to its NTEE Classification (D03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Animal-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Jersy Thoroubred Horesmans Benevolent Association 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, New Jersy Thoroubred Horesmans Benevolent Association Inc generated $7.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.1% each year . All expenses for the organization totaled $5.9m during the year ending 12/2021. While expenses have increased by 0.8% 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
NJTHA, INC. REPRESENTS THOROUGHBRED OWNERSX AND TRAINERS' INTERESTS IN THE STATE OF NJ SPECIFICALLY TO IMPROVE RACING AND PROMOTE THE COMMON BUSINESS INTERESTS OF THE SPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NJTHA, INC. REPRESENTS THOROUGHBRED OWNERSX AND TRAINERS' INTERESTS IN THE STATE OF NJ SPECIFICALLY TO IMPROVE RACING CONDITIONS IN THE THOROUGHBRED INDUSTRY FOR ALL HORSEMEN AND THEIR EMPLOYEES AND PROMOTE THE COMMON BUSINESS INTEREST OF THE MEMBERS IN MATTERS BEFORE GOVERNMENT AGENCIES, THE MANAGEMNT OF NJ THOROUGHBRED RACETRACKS AND OTHER INDUSTRY RELATED ORGANIZATIONS. THE NJTHA RECEIVES SUBSTANTIALLY ALL OF ITS REVENUE FROM NJ HORSE RACING TRACKS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael A Musto Exec. Director | Trustee | 40 | $195,000 |
Pat Mcburney President | OfficerTrustee | 0 | $0 |
Timothy Hills Vice President | OfficerTrustee | 0 | $0 |
Dominic J Bossone Director | Trustee | 0 | $0 |
James Cahill Director | Trustee | 0 | $0 |
Thomas Swales Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $41,400 |
| 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 | $41,400 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $7,615,398 |
| 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. | $195,000 |
| Compensation of current officers, directors, key employees. | $58,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $23,100 |
| Other employee benefits | $0 |
| Payroll taxes | $19,513 |
| Fees for services: Management | $250,000 |
| Fees for services: Legal | $5,950 |
| Fees for services: Accounting | $300 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | -$400,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,249 |
| Interest | $5,022 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,320,888 |
| Insurance | $0 |
| All other expenses | $392,668 |
| Total functional expenses | $5,916,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,829 |
| 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 | $53,674 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $120,377 |
| Net Land, buildings, and equipment | $11,842,457 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,022,337 |
| Accounts payable and accrued expenses | $3,554,511 |
| Grants payable | $0 |
| Deferred revenue | $358,588 |
| 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 | $1,202,740 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $60,267,252 |
| Total liabilities | $65,383,091 |
| Net assets without donor restrictions | -$53,360,754 |
| 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 | $12,022,337 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Jersy Thoroubred Horesmans Benevolent Association Inc Oceanport, NJ | $12,022,337 | $7,615,398 |
American College Of Veterinary Radiology West Chester, PA | $3,565,569 | $1,391,033 |
American Birding Association Inc Delaware City, DE | $268,634 | $1,055,914 |
New York State Veterinary Medical Society Inc Albany, NY | $1,608,921 | $1,038,563 |
Pet Industry Distributors Association Southeastern, PA | $2,928,455 | $469,966 |
Saratoga Harness Horsepersons Association Inc Saratoga Springs, NY | $870,762 | $426,847 |
American Rabbit Breeders Association Inc Clarion, PA | $555,696 | $661,715 |
New Jersey Veterinary Medical Assn Bridgewater, NJ | $2,365,633 | $778,402 |
Association Of Avian Veterinarians Inc Teaneck, NJ | $1,394,400 | $509,018 |
Pennsylvania Society For Biomedical Research Mechanicsburg, PA | $413,891 | $364,835 |
Deer Creek Cemetery Association Cheswick, PA | $2,736,425 | $373,564 |
Seal & Serpent Soc Ithaca, NY | $387,974 | $242,181 |