Meadows Standardbred Owners Association
- Assets
- $2.5m
- Revenue
- $10.4m
- Investments
- $0.0
- Employees
- 4
- Location
- Meadow Lands, PA
- Founding
- 06/1981
- Data as of
- 12/2021
- EIN
- 25-1382917
Organization Overview
Meadows Standardbred Owners Association is located in Meadow Lands, PA. The organization was established in 1981. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Meadows Standardbred Owners Association employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meadows Standardbred Owners Association 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, Meadows Standardbred Owners Association generated $10.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $13.6m during the year ending 12/2021. 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
TO PROMOTE THE SPORT OF HARNESS RACING AND THE BEST INTEREST OF ITS MEMBERS AS HORSEMEN AND NEGOTIATION OF PROPER CONTRACTS WITH LICENSED RACING ASSOCIATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTED THE BEST INTEREST OF 576 FULL AND 104 ASSOCIATE MEMBERS INCLUDING NEGOTIATIONS OF CONTRACTS WITH LICENSED HARNESS RACING ASSOC.; PROMOTED HARNESS RACING WITH GENERAL PUBLIC AND MAINTAINED COMMUNICATIONS BETWEEN HORSEMEN'S ASSOC. AND THE RACING ASSOCIATIONS. ALSO, THE ASSOCIATION ACTS AS A FIDUCIARY IN THE COLLECTION AND DISPERSAL OF GAMING FUNDS FROM THE PENNSYLVANIA RACEHORSE DEVELOPMENT FUND WHICH MUST BE USED FOR HORSE RACING PURSES AND PENSION AND HEALTH BENEFITS FOR HORSEMEN AND HORSEWOMEN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Hankins Exec. Dir. | 40 | $102,821 | |
Dirk Simpson Vice Pres. | OfficerTrustee | 5 | $0 |
Richard D Gillock President | OfficerTrustee | 5 | $0 |
Lori Romanetti Secretary | OfficerTrustee | 5 | $0 |
Tim Twaddle Treasurer | OfficerTrustee | 5 | $0 |
Lisa Dunn Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $272,034 |
| 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 | $272,034 |
| Total Program Service Revenue | $10,055,996 |
| Investment income | $15,777 |
| 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 | $10,372,771 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| Grants and other assistance to domestic individuals. | $5,000 |
| 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 | $257,233 |
| Pension plan accruals and contributions | $5,003 |
| Other employee benefits | $3,906 |
| Payroll taxes | $17,139 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,121 |
| Fees for services: Accounting | $27,945 |
| Fees for services: Lobbying | $188,258 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,649 |
| Advertising and promotion | $413,292 |
| Office expenses | $5,846 |
| Information technology | $2,669 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,259 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,366 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,447 |
| Insurance | $819,084 |
| All other expenses | -$22,875 |
| Total functional expenses | $13,557,917 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $664,236 |
| 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 | $18,870 |
| Net Land, buildings, and equipment | $50,300 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,813,191 |
| Total assets | $2,546,597 |
| Accounts payable and accrued expenses | $51,401 |
| 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 | $1,813,191 |
| Total liabilities | $1,864,592 |
| Net assets without donor restrictions | $682,005 |
| 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 | $2,546,597 |
Grants Awarded
Over the last fiscal year, Meadows Standardbred Owners Association has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NEW VOCATIONS PURPOSE: OPERATIONS | $10,000 |
Anderson, IN PURPOSE: OPERATIONS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Aircraft Owners & Pilots Asso Frederick, MD | $150,744,440 | $46,209,162 |
Meadows Standardbred Owners Association Meadow Lands, PA | $2,546,597 | $10,372,771 |
Womens Prison Association And Home New York, NY | $6,652,586 | $9,309,545 |
Pradera Corporation Philadelphia, PA | $3,527,505 | $9,032,798 |
Cecelia Housing Inc Bethesda, MD | $234,000 | $4,045,313 |
Homes For The Homeless Institute Inc New York, NY | $69,885,275 | $9,054,313 |
Community Housing Solutions Cleveland, OH | $1,275,833 | $5,883,143 |
Delaware Standardbred Owners Association Inc Dover, DE | $7,923,561 | $1,227,803 |
King Farm Citizens Assembly Inc Rockville, MD | $5,618,346 | $3,623,136 |
Bucks County Housing Group Inc Warminster, PA | $3,270,461 | $3,883,677 |
Monmouth Council No 9 Civil Service Association Housing Corporation Asbury Park, NJ | $13,033,199 | $4,484,843 |
Allentown Bnai Brith Housing Corp Allentown, PA | $7,631,458 | $3,117,871 |