Texas Horsemens Assistance Fund
Nonprofit profile at a glance
- EIN
- 742731055
- IRS 990-EZ coverage
- 2010–2024
- Forms available
- Form 990 2021, Form 990-EZ 2024
- Location
- Elgin, TX, USA
- Phone
- 5124679799
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Human Service Organizations
Reported finances
- Revenue
- $138,549
- Expenses
- $100,289
- Assets
- $438,387
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
People named in this filing
- Dr Tommy Hays (Director)
- Marsha Rountree (Chairman)
- John Synowsky (Director)
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 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
This organization was formed to promote social welfare and create social improvement in certain areas of the State of Texas. The organization was created for that purpose by the horse racing industry operating in Texas after it was determined that benevolent assistance should be provided to a certain segment of that industry. It was therefore agreed to by the Texas Racing Commission, an agency of the State of Texas, and by each licensed racetrack in the state, that an amount of money equal to 1% of all purse moneys earned would be contributed to this organization. The funds are to be used to bring about social improvement at each trach and the surrounding community. This improvement is to be accomplished by the payment of benevolent assistance to a certain class of people as further discussed. The need for benevolent assistance is a result of the large number of indigent and poor people that are associated with the horse racing industry. Most are paid minimal wages and have no health i
What it reported doing in 2024
It was agreed to by the Texas Racing Commission, an agency of the State of Texas, and by each licensed racetrack in the State, that an amount of money equal to 1% of all purse moneys earned would be contributed to this organization. The funds are to be used to bring about social improvement at each track and the surrounding community. This improvement is to be accompolished by the payment of benevolent assistance to a certain class of people as further discussed. The need for benevolent assistance is a result of the large number of indigent and poor people that are associated with the horse racing industry. Most are paid minimal wages and have no health insurance or other benefits. Many are transient and thus have no permanent home or shelter. Drug and alcohol use is prevalent, but these are the people that are essential to the operations of horse racing events.
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
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 82
- Transparency & Controls: 82
- Sustainability: 74
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 72.4%; rating input score 72
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 27.6%; rating input score 82; 82nd percentile among comparable filings
- Total-asset coverage ratio: 4.37; rating input score 95; 95th 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: -0.7% per year; rating input score 0; 27th percentile among comparable filings
- Revenue growth: 3.2% per year; rating input score 100; 38th percentile among comparable filings
- Asset growth: 7.9% per year; rating input score 100; 55th percentile among comparable filings
Details
- Where the money goes: 72.4% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $100K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 2 filed schedules
- Filing history: 14 filing years from 2010 to 2024
- 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 — Growth: Program expense growth scored 0/100.