Oklahoma Quarter Horse Racing Association Inc
- Assets
- $3.4m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 8
- Location
- Edmond, OK
- Founding
- 05/1991
- Data as of
- 12/2021
- EIN
- 73-1348198
Organization Overview
Oklahoma Quarter Horse Racing Association Inc, operating under the name Oqhra, is located in Edmond, OK. The organization was established in 1991. According to its NTEE Classification (N69) the organization is classified as: Equestrian, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Oqhra employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oqhra 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, Oqhra generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $2.1m during the year ending 12/2021. While expenses have increased by 13.4% 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
TO PROMOTE AND PROTECT THE INTEREST OF THE OKLAHOMA RACING QUARTER HORSE AND THE OWNERS, BREEDERS, AND TRAINERS OF RACING QUARTER HORSES AND ALL OTHER BREEDS PARTICIPATING IN RACING IN OKLAHOMA TO PROVIDE A FORUM FOR DISCUSSION OF LEGISLATIVE ISSUES WHICH MIGHT IMPACT QUARTER HORSE RACING AND BREEDING AND ALL OF THE OTHER BREEDS PARTICIPATING IN RACING AND BREEDING OF RACEHORSES IN OKLAHOMA; TO PROVIDE A VEHICLE FOR UNITED ACTION ON SUCH ISSUES WITH THE LEGISLATURE, THE OKLAHOMA HORSE RACING COMMISSION AND OTHER RACE OR BREED ORGANIZATIONS IN OKLAHOMA RACE TRACKS AND; TO REPRESENT OFFICIALLY OR UNOFFICIALLY OWNERS, TRAINERS AND BREEDERS AT ALL OKLAHOMA RACE TRACKS AND; TO ACTIVELY AND AGGRESSIVELY PROMOTE RACING OF ALL BREEDS INCLUDING QUARTER HORSE RACING TO THE PUBLIC, AND; TO PROMOTE RESEARCH IN EQUINE HEALTH, BREEDING AND TRAINING AND TO EDUCATE THE MEMBERSHIP IN NEW IDEAS AND TECHNIQUES, AND; TO EDUCATE AND INFORM THE PUBLIC ABOUT THE RACING QUARTER HORSE IN OKLAHOMA TO IMPROVE TH
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ADMINISTRATIVE SUPPORT, LEADERSHIP, FINANCIAL ASSISTANCE AND REPRESENTATION FOR THE QUARTER HORSE INDUSTRY PARTICIPANTS AT THE RACETRACK AND STATE REGULATORY AGENCY AS DIRECTED BY OKLAHOMA STATUTES.
IMPLEMENT AND ADMINISTER VARIOUS PROGRAMS TO ENCOURAGE INCREASED PARTICIPATION IN OKLAHOMA HORSE RACING (FUTURITIES, DERBIES) AND PROMOTION SUPPORT TO INCREASE PUBLIC AWARENESS OF THE SPORT.
DEVELOP, MAINTAIN AND DISTRIBUTE VARIOUS FORMS OF COMMUNICATION (NEWSLETTER, EMAIL, WEBSITE) DESIGNED TO PROVIDE INFORMATION AND DIRECTION TO THE QUARTER HORSE INDUSTRY PARTICIPANTS.
ADMINISTRATION AND MAINTENANCE OF INDUSTRY SCHOLARSHIPS, AWARDS AND BENEVOLENCE FUNDS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lake Newcomb Director/pre | OfficerTrustee | $0 | |
Spence Kidney Director/vic | OfficerTrustee | $0 | |
Tim Tallchief Director/tre | OfficerTrustee | $0 | |
Jeff Tebow Director | Trustee | $0 | |
Cheryl Pevehouse Director | Trustee | $0 | |
Leann Burns Director | Trustee | $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 | $2,239,507 |
| Investment income | $15,557 |
| 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 | $2,258,601 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $412,638 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $35,297 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,810 |
| Fees for services: Accounting | $10,797 |
| Fees for services: Lobbying | $45,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,976 |
| Advertising and promotion | $143,093 |
| Office expenses | $87,364 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,024 |
| Travel | $24,215 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,867 |
| Insurance | $7,321 |
| All other expenses | $24,029 |
| Total functional expenses | $2,109,141 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $812,280 |
| Savings and temporary cash investments | $2,511,983 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36,369 |
| 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 | $0 |
| Net Land, buildings, and equipment | $11,830 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,545 |
| Total assets | $3,393,007 |
| Accounts payable and accrued expenses | $33,310 |
| 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 | $1,092,808 |
| Total liabilities | $1,126,118 |
| Net assets without donor restrictions | $1,524,057 |
| Net assets with donor restrictions | $742,832 |
| 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 | $3,393,007 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Professional Association Of Therapeutic Horsemanship Intl Westminster, CO | $1,976,775 | $2,827,086 |
Houston Polo Club Houston, TX | $639,620 | $2,717,907 |
Colorado Springs Rodeo Association Colorado Springs, CO | $74,186 | $2,419,320 |
Oklahoma Quarter Horse Racing Association Inc Edmond, OK | $3,393,007 | $2,258,601 |
West Texas Cutting Horse Association Amarillo, TX | $317,039 | $987,985 |
Oklahoma Quarter Horse Association Inc Oklahoma City, OK | $788,287 | $878,265 |
Texas Senior Pro Rodeo Assoc Inc Gatesville, TX | $32,489 | $804,765 |
Houston Dressage Society Inc Spring, TX | $252,483 | $611,801 |
The Missouri Quarter Horse Assn Cape Girardeau, MO | $199,114 | $484,150 |
New Mexico Horsemens Association Albuquerque, NM | $18,197,774 | $46,287 |
Will Rogers Range Riders Amarillo, TX | $3,718,415 | $564,661 |
Rocky Mountain Reining Horse Association Johnstown, CO | $490,766 | $503,226 |