Louisiana Horsemens Benevolent and Protective Association 1993 Inc

Nonprofit profile at a glance

EIN
721126371
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2008
Location
New Orleans, LA, USA
Phone
5049451555
Rating confidence
Limited

Official website

Reported finances

Revenue
$3,229,176
Expenses
$3,241,161
Assets
$6,081,660
Liabilities
$3,180,907

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • BENARD CHATTERS (PRESIDENT/ BOARD CHAIRMAN)
  • EDWIN J FENASCI (EXECUTIVE DIRECTOR)

Highest reported compensation

  • EDWIN J FENASCI (EXECUTIVE DIRECTOR): $173,104 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide negotiation for fair distributions of race track income, mediation when problems arise at racetrack and workers compensation management for member horsemen.

What it reported doing in 2024

Organization provides bookkeeper services related to collection of race track winnings and disbursement of those winnings to the member horsemen at thoroughbred racetracks in Louisiana.

Operating model

Revenue model
Earned-program. 76% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 64
  • Accountability: 90
  • Sustainability: 40
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.4%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 1.88; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 5.3%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -4.4% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $173K · 12 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $890K reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 6 filed related-organization links
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.