Overview
What is Finger Lakes Thoroughbred Adoption Program Inc?
The Finger Lakes Thoroughbred Adoption Program Inc, situated in Farmington, New York, operates as a nonprofit organization dedicated to ensuring a secure future for horses retiring from the Finger Lakes Racetrack. By collaborating with qualified, caring homes and placement agencies, the program offers a sanctuary for these horses, providing them with a new lease on life. Approximately 70% of the trainers at Finger Lakes Racetrack have benefited from the transition services offered by the program. With a committed team of nine employees, the Finger Lakes Thoroughbred Adoption Program, Inc. continues its mission to provide a safe haven for retired racehorses.
Official website here: www.fltap.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76%, Three-Star out of Four Stars
The Finger Lakes Thoroughbred Adoption Program Inc has received a Three-Star rating from Charity Navigator, indicating a fair level of organizational accountability and financial health. The charity scores particularly well in aspects such as board independence and the absence of material asset diversion, reflecting a strong commitment to governance. However, there are notable shortcomings, including the lack of a conflict of interest policy, a whistleblower policy, and a document retention policy, which may raise concerns about transparency and risk management.
In terms of financial efficiency, the organization demonstrates a high program expense ratio of 93.51%, suggesting that a significant portion of its funding directly supports its mission. This efficiency is coupled with an excellent liabilities to assets ratio of just 0.73%, indicating sound financial stability. The equity strategies score of 75 also points towards a reasonable commitment to inclusivity and community engagement, although there is room for improvement.
Overall, while the Finger Lakes Thoroughbred Adoption Program Inc shows promise with its strong financial performance and governance structure, the absence of certain essential policies may hinder its effectiveness in building trust and accountability with stakeholders. Continuous efforts to enhance these areas could strengthen its overall impact and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Finger Lakes Thoroughbred Adoption Program Inc legitimate?
Finger Lakes Thoroughbred Adoption Program Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Finger Lakes Thoroughbred Adoption Program Inc 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $75,320
For more financial information, click here
Official website here: www.fltap.org
What is the mission statement of Finger Lakes Thoroughbred Adoption Program Inc?
The Finger Lakes Thoroughbred Adoption Program, a non-profit organization, is committed to offering a sanctuary for racehorses retiring from the Finger Lakes Racetrack. They facilitate the placement of these horses in nurturing homes and approved agencies. A significant number, around 70%, of trainers at Finger Lakes have been assisted by the program in transitioning their horses off the racetrack. The organization's primary goal is to ensure the well-being of these horses, providing them with a chance at a new life away from the racetrack.
Official website here: www.fltap.org
Who is the CEO of Finger Lakes Thoroughbred Adoption Program Inc?
Kim Delong is the President of Finger Lakes Thoroughbred Adoption Program Inc.
Official website here: www.fltap.org
What is the revenue of Finger Lakes Thoroughbred Adoption Program Inc?
Finger Lakes Thoroughbred Adoption Program Inc's revenue in 2022 was $296,242.
Official website here: www.fltap.org
Who are the executives of Finger Lakes Thoroughbred Adoption Program Inc and what are their salaries?
The average compensation at Finger Lakes Thoroughbred Adoption Program Inc during 2022 was $8,369. There are 9 employees and 2 volunteers at Finger Lakes Thoroughbred Adoption Program Inc.
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Official website here: www.fltap.org
Where can I find the form 990 for Finger Lakes Thoroughbred Adoption Program Inc?
Finger Lakes Thoroughbred Adoption Program Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fltap.org
Learn more at the official website: www.fltap.org
Mission Statement of Finger Lakes Thoroughbred Adoption Program Inc
The Finger Lakes Thoroughbred Adoption Program, Inc. is a committed organization that offers a sanctuary for racehorses retiring from the Finger Lakes Racetrack. By arranging placements in caring homes and agencies, this program ensures the wellbeing of these horses.
In action since the Finger Lakes Racetrack, around 70% of the trainers have been assisted by the Program in finding new homes for their retired horses. The Finger Lakes Thoroughbred Adoption Program, Inc. is deeply dedicated to this cause, prioritizing the horses' welfare above all. It is an essential mission that brings relief to these animals, giving them a second chance at a comfortable and loving life beyond racing.
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Impact
October, 2024
The Finger Lakes Thoroughbred Adoption Program, Inc. plays a vital role in the lives of horses transitioning out of the Finger Lakes Racetrack by ensuring their safe rehoming. By facilitating the placement of these horses into qualified and nurturing homes, the program directly addresses the needs of approximately 70% of Finger Lakes trainers who require assistance in finding new placements for their horses. This initiative not only enhances the welfare of the horses but also fosters a community of responsible ownership and care in Farmington, NY. Overall, the program significantly reduces the risks associated with horses leaving the racetrack and promotes a humane and compassionate approach to equine rehoming.
This information is meant to be a general summary of Finger Lakes Thoroughbred Adoption Program Inc. 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $32
- Program Service Revenue: $91,500
- Gross Receipts: $298,556
Assets and Liabilities:
- Total Assets: $462,254
- Total Liabilities: $3,392
- Net Assets: $458,862
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADOPTION FEES
Revenue
$81,100
MEMBERSHIP DUES & ASSE
Revenue
$10,400
Organization Details
Founding Year
2006
Phone
(585) 303-1897Principal Officer
Kim Delong
Main Address
PO Box 25043, Farmington, NY, 14425
Website
www.fltap.orgNTEE Category
Code: D20 - Animals
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