Overview
What is Far Hills Race Meeting Association Inc?
Far Hills Race Meeting Association Inc, located in Far Hills, New Jersey, is a nonprofit organization primarily known for hosting an annual one-day steeplechase event. The largest beneficiary of this event is the Somerset Health Care Foundation, Inc., a Section 501(C)(3) nonprofit entity. Beyond this, the organization, at the discretion of its board of trustees, supports other eligible Section 501(C)(3) health care entities, including Crossroads4Hope, The Arc of Somerset County, Community in Crisis, Lifecamp, Bonnie Brae, and the Steeplechase Cancer Center. These entities receive assistance from the organization to further their health care-related missions. The organization, with a workforce of four individuals, plays a significant role in supporting various health care nonprofits in the area.
Official website here: www.farhillsrace.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 88% - Three-Star out of Four Star rating
The Far Hills Race Meeting Association Inc has received a Three-Star rating from Charity Navigator, reflecting an 88% score primarily based on Accountability & Finance. This rating indicates that the organization demonstrates a solid level of financial integrity and accountability to its stakeholders. The majority of the board members are independent, and they have an effective oversight committee in place, which contributes positively to their financial governance.
However, the organization does have some areas for improvement. The absence of a whistleblower policy and a document retention and destruction policy raises concerns about internal governance and transparency. Additionally, the organization's tax form is not posted on its website, which could limit accessibility for those looking to understand its financial health and activities.
Overall, while the Far Hills Race Meeting Association Inc shows strengths in financial management and accountability, addressing the noted gaps in governance policies could enhance their transparency and credibility even further.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Far Hills Race Meeting Association Inc?
80% of 748 reviewers on Facebook recommend the Far Hills Race Meeting Association Inc. Here is a summary of their reviews:
Many attendees expressed that they had an enjoyable experience, highlighting the combination of events such as the car show and steeple race. The overall atmosphere was described as lively and fun, offering a great day out for families and friends. Reviewers appreciated the organization of the event, noting that everything flowed smoothly.
The positive sentiment surrounding this nonprofit suggests that it successfully provides entertaining events that resonate with the community. Enthusiastic feedback indicates that patrons are likely to return for future activities, reinforcing its role in creating memorable local experiences.
This AI summary has been generated from reviews found on Facebook.
Is Far Hills Race Meeting Association Inc legitimate?
Far Hills Race Meeting Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Far Hills Race Meeting Association 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: $0
For more financial information, click here
Official website here: www.farhillsrace.org
What is the mission statement of Far Hills Race Meeting Association Inc?
Far Hills Race Meeting Association Inc, an annual organizer of a one-day steeplechase event, primarily benefits the Somerset Health Care Foundation, a 501(C)(3) non-profit entity. At the discretion of its board of trustees, the association also supports various other 501(C)(3) health care entities, including Crossroads4Hope, The Arc of Somerset County, Community in Crisis, LifeCamp, Bonnie Brae, and the Steeplechase Cancer Center. The primary aim of the association is to contribute to these health care organizations, providing them with financial support and resources to serve their respective communities.
Official website here: www.farhillsrace.org
What is the revenue of Far Hills Race Meeting Association Inc?
Far Hills Race Meeting Association Inc's revenue in 2023 was $3,408,211.
Official website here: www.farhillsrace.org
Who are the executives of Far Hills Race Meeting Association Inc and what are their salaries?
There are 3 employees and 400 volunteers at Far Hills Race Meeting Association Inc.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.farhillsrace.org
Where can I find the form 990 for Far Hills Race Meeting Association Inc?
Far Hills Race Meeting Association Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.farhillsrace.org
Learn more at the official website: www.farhillsrace.org
Mission Statement of Far Hills Race Meeting Association Inc
Far Hills Race Meeting Association Inc, an organization that hosts an annual one-day steeplechase event, is dedicated to supporting health care-related non-profit entities. The largest beneficiary of this event is the Somerset Health Care Foundation, Inc., a Section 501(C)(3) non-profit entity. Beyond this, the association, at the discretion of its Board of Trustees, extends its support to other non-profit Section 501(C)(3) health care entities. These entities include Crossroads4Hope, The Arc of Somerset County, Community in Crisis, Lifecamp, Bonnie Brae, and the Steeplechase Cancer Center. By holding this annual event and strategically allocating its resources, Far Hills Race Meeting Association Inc contributes to the betterment of various health care-focused non-profits in the sector.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Far Hills Race Meeting Association Inc. significantly impacts community health and wellness by hosting an annual steeplechase event that serves as a vital fundraising platform for various health-focused organizations. With the Somerset Health Care Foundation as the primary beneficiary, funds generated from this event support critical healthcare initiatives and programs within the local community.
Additionally, by selectively contributing to other charitable organizations such as Crossroads4Hope, The Arc of Somerset County, Community in Crisis, LifeCamp, Bonnie Brae, and the Steeplechase Cancer Center, the Association extends its influence beyond a single event. This collective support helps address diverse health needs, providing resources for mental health, developmental disabilities, crisis intervention, and cancer treatment services.
Moreover, the event fosters community spirit and engagement, attracting attendees who not only enjoy a day of recreation but also contribute to a greater cause. The Far Hills Race Meeting Association Inc. thereby enhances community cohesion while promoting awareness and funding for essential healthcare services.
This information is meant to be a general summary of Far Hills Race Meeting Association 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 2023.
- Investment Income: $62,446
- Program Service Revenue: $3,319,496
- Gross Receipts: $3,746,063
Assets and Liabilities:
- Total Assets: $7,500,434
- Total Liabilities: $6,477
- Net Assets: $7,493,957
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESERVATIONS & ADMISSI
Revenue
$2,148,740
OTHER
Revenue
$438,816
TENT RENTALS
Revenue
$378,480
CORPORATE SPONSORSHIP
Revenue
$316,500
PARKING FEES
Revenue
$36,960
Organization Details
Founding Year
1984
Principal Officer
Guy J Torsilieri
Website
www.farhillsrace.orgNTEE Category
Code: N70 - Recreation
If you are a representative of Far Hills Race Meeting Association Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.