Meadows Standardbred Owners Association

Nonprofit profile at a glance

EIN
251382917
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Meadow Lands, PA, USA
Phone
7242283644
Rating
37
Verdict
REVIEW
Rating confidence
Moderate

Reported finances

Revenue
$10,721,463
Expenses
$11,509,629
Assets
$1,655,481
Liabilities
$1,244,516

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

Leadership & pay

11 people listed

Executive titles in this filing

  • LISA DUNN (PRESIDENT)

Highest reported compensation

  • KIM HANKINS (EXEC DIRECTO): $88,904 total reported compensation
  • DAWNELLE MOCK (EXEC. DIRECT): $29,581 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 promote the sport of harness racing and the best interest of its members as horsemen and negotiation of proper contracts with licensed racing associations.

What it reported doing in 2024

Promoted the best interest of 487 full and 85 associate members including negotiations of contracts with licensed harness racing assoc.; promoted harness racing with general public and maintained communications between horsemen's assoc and the racing associations. Also, the association acts as a fiduciary in the collection and dispersal of gaming funds from the Pennsylvania racehorse development fund which must be used for horse racing purses and pension and health benefits for horsemen and horsewomen.

Operating model

Revenue model
Earned-program. 99% 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

REVIEW - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 69
  • Accountability: 79
  • Sustainability: 19
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 6th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 33.1%; rating input score 33; 10th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.4%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.14; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 1%; rating input score 85; 85th percentile among comparable filings

Growth

  • Program expense growth: -10.3% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -2.4% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $11.5M in reported program spending
  • Leadership: top reported pay $89K · 11 people listed
  • Highest-paid contractors: 1 contractor listed · $181K reported
  • Consistency: 14 of 16 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 33/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.