Thoroughbred Idea Foundation Inc
- Assets
- $12.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Ocala, FL
- Founding
- 04/2019
- Data as of
- 12/2020
- EIN
- 83-1814280
Organization Overview
Thoroughbred Idea Foundation Inc is located in Ocala, FL. The organization was established in 2019. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thoroughbred Idea Foundation 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 12/2020, Thoroughbred Idea Foundation Inc generated $57.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (23.0%) each year. All expenses for the organization totaled $85.5k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3
TO IMPROVE THE THOROUGHBRED RACING INDUSTRY FOR ALL STAKEHOLDERS, ESPECIALLY ITS PRIMARY CUSTOMERS - GAMBLERS AND OWNERS - THROUGH THE EXCHANGE, CURATION AND ADVOCACY OF SOUND, DATA-DRIVEN IDEAS, SHARED WITH AND IMPLEMENTED BY THE SPORT'S EXISTING ENTITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Bernick Director | 0 | $0 | |
Catherine Donovan Director | 0 | $0 | |
Lesley Howard Director | 0 | $0 | |
Corey Johnsen Director | 0 | $0 | |
Paul Matties Director | 0 | $0 | |
Justin Nicholson Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $57,500 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $57,500 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $40,584 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $5,982 |
| Other expenses | $38,980 |
| Total expenses | $85,546 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $12,851 |
| Other assets | $0 |
| Total assets | $12,851 |
| Total liabilities | $0 |
| Net assets or fund balances | $12,851 |