Pa Thoroughbred Horsemen's Assoc Inc

Nonprofit profile at a glance

EIN
232694644
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Bensalem, PA, USA
Phone
2156382012
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$2,410,086
Expenses
$1,777,361
Assets
$10,300,795
Liabilities
$8,345,922

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

Leadership & pay

13 people listed

Executive titles in this filing

  • JEFFREY A MATTY JR (EXECUTIVE DIRECTOR/SECRETA)
  • KATHLEEN DEMASI (VICE PRESIDENT)
  • ROBERT HUTT (PRESIDENT)

Highest reported compensation

  • JEFFREY A MATTY JR (EXECUTIVE DIRECTOR/SECRETA): $263,431 total reported compensation
  • VICTOR COLLAZO (DIRECTOR OF FINANCE & ACCOUNTING): $180,987 total reported compensation
  • MARIA MANGINI (DIRECTOR OF OPERATIONS): $146,824 total reported compensation

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

Overview

Mission

The pennsyvania thoroughbred horsemen's association (ptha) works hard to protect and provide for the parx racing horsemen through the guarantee of live racing, horsemen's rights, health care and pension for horsemen, benevolence programs, and more.

What it reported doing in 2024

Inform membership of what is going on at national, state, and local levels on matters effecting the racing industry through newsletters.

Operating model

Revenue model
Earned-program. 75% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 78
  • Accountability: 59
  • Sustainability: 65
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.3%; rating input score 68
  • Program expense ratio: 92.7%; rating input score 93
  • Fundraising efficiency: Limited

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: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 45.5%; rating input score 45; 8th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 26.3%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 5.8; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.81; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 42.5%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -0.5% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: -0.7% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 68.3% of revenue deployed · 92.7% of spending went to programs
  • Governance: 5 of 11 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $1.6M in reported program spending
  • Leadership: top reported pay $263K · 13 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $279K reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 3 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.

  • Moderate — Accountability: Independent voting board scored 45/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.