Kentucky Thoroughbred Farm Managers' Club Inc

Nonprofit profile at a glance

EIN
611076634
IRS 990 coverage
2011–2025
Forms available
Form 990 2025
Location
Lexington, KY, USA
Phone
8599487321
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$218,836
Expenses
$199,167
Assets
$24,401
Liabilities
$1,240

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • JOHN RASMUSSEN (PRESIDENT)
  • PETER SHEENAN (VICE-PRESIDENT)

People named in this filing

  • JUAN AGUILAR (DIRECTOR)
  • LAKOTA GIBSON (DIRECTOR)
  • DANNY MULVIHILL (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the organization is to foster cooperation and understanding among members; to provide a forum for the discussion of topics critical to our profession, which will enhance and protect our professional interest; to promote fellowship among members; to be good stewards of the land and thoroughbred industry; and to be good citizens of the community.

What it reported doing in 2025

The club holds annual golf and sporting clay tournaments organized by volunteers to raise money for local charities and scholarships. During 2025, $70,379 was given to charities

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 60% for direct work, and 40% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 82
  • Accountability: 64
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.8%; rating input score 80
  • Program expense ratio: 87.7%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 26th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 78.1%; rating input score 78; 51st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 0.12; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 3.2% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 17.8% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 79.8% of revenue deployed · 87.7% of spending went to programs
  • Governance: 15 of 15 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $175K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 14 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • Review — Sustainability: Operating margin scored 55/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.