The Jockey Club

Nonprofit profile at a glance

EIN
130888345
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2123715970
Rating confidence
Limited
Sector
Equestrian

Official website

Reported finances

Revenue
$13,497,578
Expenses
$15,592,003
Assets
$81,070,886
Liabilities
$3,009,686

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

Leadership & pay

20 people listed

Executive titles in this filing

  • James L Gagliano (President & Chief Operating Officer)
  • Jamie Haydon (Deputy Executive Director)
  • Laura Barillaro (Executive Vice President & Chief Financial Officer)
  • Matt Luliano (Executive Vice President & Executive Director)
  • Marc Summers (Vice President & General Counsel)

Highest reported compensation

  • James L Gagliano (President & Chief Operating Officer): $1,026,462 total reported compensation
  • Matt Luliano (Executive Vice President & Executive Director): $550,300 total reported compensation
  • Laura Barillaro (Executive Vice President & Chief Financial Officer): $514,149 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 organization is dedicated to the improvement of thoroughbred breeding and racing. It fulfills that mandate by serving many segments of the industry through its subsidiary companies and by providing support to a wide range of industry initiatives.

What it reported doing in 2024

The jockey club is the breed registry for thoroughbred horses in the united states, canada, and puerto rico. The jockey club was formed in 1894 and assumed responsibility for maintaining the american stud book two years later. The stud book ensures the correct pedigree and identification of every thoroughbred and, as such, is essential to the integrity of thoroughbred breeding and racing. North american owners and breeders register approximately 18,000 thoroughbreds annually with the jockey club. An increasing number are doing so through the convenience of the internet utilizing the jockey club's interactive registration (ir). This is the quickest and easiest way to complete and submit the requirements for registration and naming of foals, including submission of digital photographs. The organization is expected to register 18,000 thoroughbred foals in 2024.

Operating model

Revenue model
Other-operating. 96% of the money available for current operations came from other operating 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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 68
  • Accountability: 100
  • Sustainability: 39
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 40th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

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

Sustainability

  • Operating margin: -15.5%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 5.2; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 86; 86th percentile among comparable filings
  • Officer compensation ratio: 19.2%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -3.7% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 12 of 12 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $1M · 20 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 7 filed schedules · includes foreign activity, grants, executive pay, and related organizations
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 14 filed money-flow records
  • Related organizations: 14 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.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.