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Harness Racing Museum And Hall Of Fame

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 141368198 ✦ Goshen, NY ✦ Designated as a 501(c)(3)

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Overview

What is Harness Racing Museum And Hall Of Fame?

The Harness Racing Museum and Hall of Fame, situated in Goshen, New York, is a nonprofit institution committed to preserving the history and cultural significance of the trotting horse in the United States. With an extensive collection of over 30,000 artifacts, this museum showcases the impact of harness racing on the nation's economic, social, and cultural landscape. The organization also actively supports and promotes Standardbred racing through research, education, and exhibits, aiming to expand its appeal both domestically and internationally. The museum's mission is to ensure an informed audience and a successful future for this American-born sport. With a dedicated workforce of 23 individuals, the Harness Racing Museum and Hall of Fame provides extensive research, educational programming, and engaging exhibits, striving to document and preserve the history and traditions of the sport. The museum also offers admissions and hosts traveling exhibits at various locations within the United States and abroad.


Official website here: www.harnessmuseum.com

What are the reviews and ratings of this charity?

Charity Navigator Rating: 96% (Four-Star out of Four Stars)

The Harness Racing Museum And Hall Of Fame has achieved an impressive 96% rating on Charity Navigator, which indicates a high level of operational excellence and fiscal responsibility. With a perfect score of 100% in Accountability & Finance, the organization demonstrates transparency and sound financial management practices. This includes a fully independent board and comprehensive policies in place to mitigate conflicts of interest and safeguard assets.

Strengths identified include a strong program expense ratio of 69.66%, which suggests that a significant portion of its budget is directed towards its mission-related activities rather than administrative costs. The museum also receives high marks for its auditing processes, indicating thorough oversight and accountability in its financial reporting and asset management.

While the charity shows no material diversion of assets and adheres to best practices in governance, ongoing engagement and outreach efforts could further enhance its community presence and support. Overall, the organization stands out for its commitment to integrity and effective use of resources in promoting harness racing history.


This AI summary has been generated from information found on Charity Navigator.

Is Harness Racing Museum And Hall Of Fame legitimate?

Harness Racing Museum And Hall Of Fame is a legitimate nonprofit organization registered as a 501(c)(3) entity. Harness Racing Museum And Hall Of Fame submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.


Heare are some key statistics you may want to consider:

Executive Compensation: $149,041
Professional Fundraising Fees: $0
Other Salaries and Wages: $500,073

For more financial information, click here


Official website here: www.harnessmuseum.com

What is the mission statement of Harness Racing Museum And Hall Of Fame?

The Harness Racing Museum and Hall of Fame is committed to providing comprehensive, active, and authoritative support and promotion of Standardbred racing. This is achieved through documenting and preserving the history and traditions of this American-born sport. The institution continues to enhance its existing collections and offers extensive research, educational programming, and engaging exhibits. These initiatives aim to broaden the appeal of harness racing, both domestically and internationally, ensuring an informed audience and a prosperous future for the sport.


Official website here: www.harnessmuseum.com

Who is the CEO of Harness Racing Museum And Hall Of Fame?

Max J Hempt is the President of Harness Racing Museum And Hall Of Fame.


Official website here: www.harnessmuseum.com

What is the revenue of Harness Racing Museum And Hall Of Fame?

Harness Racing Museum And Hall Of Fame's revenue in 2023 was $1,027,321.


Official website here: www.harnessmuseum.com

Who are the executives of Harness Racing Museum And Hall Of Fame and what are their salaries?

The average compensation at Harness Racing Museum And Hall Of Fame during 2023 was $28,222. There are 23 employees at Harness Racing Museum And Hall Of Fame.


Here are 26 key members and their salaries:


Max J Hempt (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Seth Rosenfeld (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Stephen E Oldford (Vice President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kathy Parker (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Frank Antonacci (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Robert M Boni (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Elizabeth Caldwell (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
John D Campbell (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Thomas A Charters (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Lawrence S Devan (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
John M Egloff Dvm (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jay E Farrar (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Elbridge T Gerry Jr (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Theodore Gewertz (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Patricia Hogan Vmd (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Roger E Huston (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Steve Jones (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Marvin Katz (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Karyn Malinowski (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
David H Mcduffee (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
David P Reid (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
James W Simpson (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mitchel Skolnick (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jimmy W Takter (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Russell C Williams (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Janet T Terhune (Director)
  • Compensation: $149,041
  • Related: $0
  • Other: $0


Official website here: www.harnessmuseum.com

Where can I find the form 990 for Harness Racing Museum And Hall Of Fame?

Harness Racing Museum And Hall Of Fame's most recent form 990 was submitted in 2023 and can be accessed here.


Official website here: www.harnessmuseum.com

Learn more at the official website: www.harnessmuseum.com

Mission Statement of Harness Racing Museum And Hall Of Fame

The Harness Racing Museum and Hall of Fame is committed to providing comprehensive, active, and authoritative support and promotion of Standardbred racing. This mission involves documenting and preserving the history and traditions of this American-born sport, aiming to expand its interest appeal both nationally and internationally. The organization also focuses on augmenting its existing collections and providing extensive research, educational programming, and engaging exhibits. This approach aims to ensure an informed audience and a successful future for harness racing. In essence, the Harness Racing Museum and Hall of Fame serves as a hub for the preservation and celebration of harness racing, striving to foster an appreciation for this unique and captivating sport.

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Impact




October, 2024

Harness Racing Museum and Hall of Fame plays a crucial role in preserving and promoting the history and traditions of Standardbred racing, an integral part of American culture. By documenting the legacy of harness racing, the museum ensures that the contributions of this sport to U.S. economic, social, and cultural history are recognized and appreciated.

The museum houses over 30,000 historical objects, offering a comprehensive look at the culture surrounding the trotting horse. This extensive collection not only informs visitors about the past but also inspires future generations to engage with this unique sport. With a focus on educational programming and traveling exhibitions, the museum reaches audiences both nationally and internationally, expanding the appeal of harness racing.

Through its diverse exhibits and dedicated research initiatives, the museum cultivates an informed audience, fostering a deeper understanding and appreciation for harness racing. Its efforts help to assure a successful future for the sport by keeping traditions alive and relevant in a rapidly changing world.




This information is meant to be a general summary of Harness Racing Museum And Hall Of Fame. Please take the time to review official sources before making any decisions based upon the content provided here.


Financials

This financial information is from Propublica.

Revenue
$1,027,321 (2023)
Expenses
$1,203,866 (2023)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2023.

  • Investment Income: $227,336
  • Program Service Revenue: $146,756
  • Gross Receipts: $2,403,926

Assets and Liabilities:

  • Total Assets: $8,452,991
  • Total Liabilities: $399,406
  • Net Assets: $8,053,585

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

HALL OF FAME AWARDS

Revenue

$113,559

ROOM RENTALS

Revenue

$27,271

EDUCATION INCOME

Revenue

$5,926

Organization Details

Founding Year

1951

Principal Officer

Max J Hempt

Main Address

240 MAIN STREET, GOSHEN, NY, 10924

NTEE Category

Code: A500 - Arts

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