Indiana Horsemens Benevolent & Protective Association Inc
- Assets
- $1.4m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 5
- Location
- Fairland, IN
- Founding
- 10/1996
- Data as of
- 12/2023
- EIN
- 31-1390231
Organization Overview
Indiana Horsemens Benevolent & Protective Association Inc is located in Fairland, IN. The organization was established in 1996. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Indiana Horsemens Benevolent & Protective Association Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indiana Horsemens Benevolent & Protective 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 12/2023, Indiana Horsemens Benevolent & Protective Association Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 3.0% 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.
Since 2016, Indiana Horsemens Benevolent & Protective Association Inc has awarded 42 individual grants totaling $855,232. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION'S MISSION IS TO PROMOTE, DEVELOP AND IMPROVE THE HORSE RACING INDUSTRY IN INDIANA. THE ASSOCIATION'S MOTTO IS: "WE ARE HORSEMEN HELPING HORSEMEN."
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION HAD 1,400 MEMBERS IN 2023. THE ASSOCIATION NEGOTIATED AND EXECUTED CONTRACTS FOR THE 2023 RACING SEASON WITH THE INDIANA TRACKS; RECEIVED APPROVAL FROM THE INDIANA HORSE RACING COMMISSION TO BE A REGISTERED HORSEMEN'S ASSOCIATION TO RECIEVE AND DISBURSE FUNDS ON BEHALF OF INDIANA THOROUGHBRED HORSEMEN UNDER INDIANA CODE SECTION 4-35-7-12 FOR 2023; AND PROMOTED THE COMMON BUSINESS INTERESTS OF INDIANA THOROUGHBRED HORSEMEN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Davis President | OfficerTrustee | 15 | $0 |
Kathryn Kunz-Duran 1st Vice Pre | OfficerTrustee | 2 | $0 |
Mike Lauer 2nd Vice Pre | OfficerTrustee | 2 | $0 |
Ron Mckay Director | Trustee | 2 | $0 |
Penny Lauer Director | Trustee | 2 | $0 |
Randy Klopp Director | Trustee | 2 | $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 | $1,569,207 |
| Investment income | $10,342 |
| 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 | $1,580,285 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $102,000 |
| Grants and other assistance to domestic individuals. | $681,545 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $207,582 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $104,160 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $26,660 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,737 |
| Fees for services: Accounting | $72,692 |
| Fees for services: Lobbying | $87,102 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $39,302 |
| Office expenses | $10,790 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16,550 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,376 |
| Interest | $0 |
| Payments to affiliates | $35,000 |
| Depreciation, depletion, and amortization | $21,116 |
| Insurance | $14,706 |
| All other expenses | $4,925 |
| Total functional expenses | $1,528,347 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $858,408 |
| Savings and temporary cash investments | $313,323 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $120,186 |
| 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 | $4,536 |
| Net Land, buildings, and equipment | $85,889 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,382,342 |
| Accounts payable and accrued expenses | $9,372 |
| 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 | $2,760 |
| Total liabilities | $12,132 |
| Net assets without donor restrictions | $1,370,210 |
| 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 | $1,382,342 |
Grants Awarded
Over the last fiscal year, Indiana Horsemens Benevolent & Protective Association Inc has awarded $100,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NEW VOCATIONS RACEHORSE ADOPTION PR PURPOSE: HORSE RETIREMENT | $35,000 |
PERMANENTLY DISABLED JOCKEYS FUND PURPOSE: JOCKEY ASSISTANCE | $25,000 |
TRI-STATE THOROUGHBRED REHAB AND RE PURPOSE: HORSE RETIREMENT | $40,000 |