Grayson-jockey Club Research Foundation Inc

What it reported doing in 2024

Grayson-jockey club research foundation is a leading, non-profit charitable organization. Membership is unrestricted and open to all. The foundation's mission is to fund veterinary research beneficial to promoting the health and soundness of horses. Although it is affiliated with the thoroughbred horse industry, most research is beneficial to all breeds. In 2024, the foundation funded 16 grants totaling $2,423,608. Veterinary research is conducted at universities in north america, australia, and belgium. The foundation has no alliance with any one university and is free to fund the best research based on recommendations from its research advisory committee. A percentage of approved funding is directed to support lab technicians and graduate assistants to support the principal investigator. Thus, research today is helping to recruit and train researchers for tomorrow, giving extra impact from the foundation's funding. Aside from staff assistance, the foundation does not pay the principal investigator's salary or any other overhead, thereby targeting its dollars directly for research.

Financial Efficiency

• Mission deployment rate: 93.6%; rating input score 94
• Program expense ratio: 79%; rating input score 79
• Fundraising efficiency: $4 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 0 of 8 controls in place; rating input score 0
  • Claims monitoring procedures: Limited
  • Requires narrative reports: Limited
  • Conducts field audits: Limited
  • May suspend future funding: Limited
  • Requires financial reports: Limited
  • Conducts site visits: Limited
  • Requires grant agreements: Limited
  • May require repayment: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 35.9%; rating input score 87; 87th percentile among comparable filings
• Total-asset coverage ratio: 15.13; rating input score 94; 94th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 89; 89th percentile among comparable filings
• Officer compensation ratio: 12.3%; rating input score 24; 24th percentile among comparable filings

Growth

• Program expense growth: 6% per year; rating input score 100; 45th percentile among comparable filings
• Revenue growth: 4.8% per year; rating input score 100; 40th percentile among comparable filings
• Asset growth: 7.1% per year; rating input score 100; 46th percentile among comparable filings