Minnesota Thoroughbred Racing Alliance

Nonprofit profile at a glance

EIN
874362430
IRS 990-EZ coverage
2023–2023
Forms available
Form 990-EZ 2023, Form 990-N 2022
Location
Lakeville, MN, USA
Phone
7082145049
Rating
37
Verdict
REVIEW
Rating confidence
Limited
Sector
Alliance/Advocacy Organizations

Reported finances

Revenue
$100,166
Expenses
$109,260
Assets
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • JOSEPH SCURTO (President)
  • SCOTT RAKE (Vice President)

People named in this filing

  • JOSEPH SCURTO (President)
  • SCOTT RAKE (Vice President)
  • DAN FLANIGAN (Secretary)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To build a collaborative alliance of individuals, businesses, and organizations to preserve the vitality of Minnesota thoroughbred horse racing. We work to effectively communicate the industry's social and agribusiness contributions and actively respond to public policy issues affecting the industry.

What it reported doing in 2023

Instrumental in the halting of sports betting legislation that would have been detrimental to industry by allowing other entities to operate and control sports betting in Minnesota without inclusion of the thoroughbred racing industry. By contracting with horseshoe marketing, llc, we were able to create educational materials, digital media, and presentations used by lobbyists and other industry stakeholders to communicate the negative impact of this legislation to the legislature and general public. Additionally, we worked directly with the Minnesota racing commission (mrc) in securing $1 million in additional funding from the state of Minnesota for the mrc to be used to offset our constituents/members obligatory costs associated with the regulation and oversight of thoroughbred horseracing in Minnesota.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Transfer-based 990-EZ. The 990-EZ reports grants or member benefits, but it does not separate enough spending to show the nonprofit’s full delivery mix.

The verdict

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 6
  • Transparency & Controls: 82
  • Sustainability: 16
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 9.3%; rating input score 9
  • Program expense ratio: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -9.1%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 9.3% of revenue deployed
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 4 of 4 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • 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 9/100.
  • High — Sustainability: Operating margin scored 18/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.