Southern Tier Harness Horsemen's Association Inc

Nonprofit profile at a glance

EIN
342061791
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Nichols, NY, USA
Phone
6077657168
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$1,359,295
Expenses
$878,842
Assets
$794,349
Liabilities
$718

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

Leadership & pay

9 people listed

Executive titles in this filing

  • RANDY TAFT (PRESIDENT)

Highest reported compensation

  • GUY HOWARD (TREASURER): $18,250 total reported compensation

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

Overview

Mission

To promote the welfare of harness racing in New York, and in doing so promote the welfare of our members.

What it reported doing in 2023

To promote the harness racing business through advertising and aid horsemen & women in difficult economic times with the driver supplement program and pension plan.

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 71% for direct work, and 29% for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. 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: 66
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.9%; rating input score 62
  • Program expense ratio: 95.6%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 35.3%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 0.9; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 2.1%; rating input score 59; 59th percentile among comparable filings

Growth

  • Program expense growth: 3.7% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 10.2% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 61.9% of revenue deployed · 95.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 8 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $18K · 9 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • Review — Sustainability: Officer compensation ratio scored 59/100.