The Thoroughbred Club of America Inc
Nonprofit profile at a glance
- EIN
- 610488425
- IRS 990 coverage
- 2010–2025
- Forms available
- Form 990 2025
- Location
- Lexington, KY, USA
- Phone
- 8592544282
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $3,382,477
- Expenses
- $2,873,020
- Assets
- $4,504,787
- Liabilities
- $1,309,182
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- W CHAPMAN HOPKINS (President)
- JOE MILLER (Vice President)
- CHARLES H BODEN (Past President)
Highest reported compensation
- Laura Gardner (General Manager): $175,769 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The primary exempt purpose of the thoroughbred club of america, inc. Is to promote, foster and encourage closer cooperation and better business relations in the thoroughbred industry; to provide a forum for the discussion and interchange of ideas, methods and information relating to breeding, racing and marketing of thoroughbred horses and to encourage public interest therein; to gather and disseminate such knowledge and information pertaining to the breeding, raising and racing of thoroughbred horses in of interest and value to persons having a common interest therein; to endeavor in every proper and lawful way to promote better business conditions in the industry.
What it reported doing in 2025
Club restaurant - club provides restaurant services for its members convenience while attending racing and other thoroughbred industry events at keeneland.
Operating model
- Revenue model
- Earned-program. 98% of the money available for current operations came from fees and other program revenue.
- 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
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. 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: 61
- Transparency & Controls: 66
- Accountability: 82
- Sustainability: 55
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 64%; rating input score 64
- Program expense ratio: 76.3%; rating input score 76
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- 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: 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: 4 of 7 controls in place; rating input score 57
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- 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: 15.1%; rating input score 66; 66th percentile among comparable filings
- Total-asset coverage ratio: 1.57; rating input score 49; 49th percentile among comparable filings
- Liabilities to assets ratio: 0.29; rating input score 27; 27th percentile among comparable filings
- Officer compensation ratio: 6.1%; rating input score 50; 50th percentile among comparable filings
Growth
- Program expense growth: 10.4% per year; rating input score 100; 62nd percentile among comparable filings
- Revenue growth: 6.9% per year; rating input score 100; 51st percentile among comparable filings
- Asset growth: 10.6% per year; rating input score 100; 60th percentile among comparable filings
Details
- Where the money goes: 64% of revenue deployed · 76.3% of spending went to programs
- Governance: 12 of 12 board members independent · 4 of 7 filing controls reported
- Programs: 3 filed program accomplishments · $2.2M in reported program spending
- Leadership: top reported pay $176K · 13 people listed · 1 of 6 pay-setting controls reported
- Consistency: 24 of 24 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 15 filing years from 2010 to 2025
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: Filed and resolved organization relationships.
- 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.
- Review — Accountability: Governance controls: 3 of 7 not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
- High — Sustainability: Liabilities to assets ratio scored 27/100.
- Review — Sustainability: Officer compensation ratio scored 50/100.