Overview
What is Racing Surfaces Testing Laboratory?
Racing Surfaces Testing Laboratory is a nonprofit organization dedicated to enhancing the safety of horse and dog racing tracks. Their primary focus is on conducting racetrack testing and improving safety, as well as conducting scientific studies to explore alternative racetrack surfaces. Additionally, they aim to establish and promote standards for racetrack surfaces to ensure the safety of jockeys, animals, and other individuals involved in these sports. Their mission is to make racing environments safer and more secure for all parties involved.
Official website here: www.racingsurfaces.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 73% score)
The Racing Surfaces Testing Laboratory has received a two-star rating from Charity Navigator, indicating a need for improvement in certain areas. Their overall score is 73%, primarily driven by a perfect score of 100% in Accountability & Finance. The organization demonstrates strong financial management, with a program expense ratio of 84.55%, which suggests that a significant portion of their expenses is directed towards their programs.
However, there are notable weaknesses in their operational transparency. While the majority of the board members are independent, the nonprofit has significant gaps in essential policies and documentation. Specifically, they lack a whistleblower policy, document retention and destruction policy, and their financial statements are not available, which has adversely impacted their accountability score.
In summary, while the Racing Surfaces Testing Laboratory shows promise in financial management and governance, addressing the deficiencies in operational policies and transparency would be crucial for improving their overall rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Racing Surfaces Testing Laboratory legitimate?
Racing Surfaces Testing Laboratory is a legitimate nonprofit organization registered as a 501(c)(3) entity. Racing Surfaces Testing Laboratory 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: $213,636
For more financial information, click here
Official website here: www.racingsurfaces.org
What is the mission statement of Racing Surfaces Testing Laboratory?
The mission of Racing Surfaces Testing Laboratory revolves around ensuring the safety of horse and dog racetracks for all involved parties. This encompasses conducting racetrack testing, studying alternative racetrack surfaces, and promoting standards for racetrack surfaces. The primary goal is to enhance safety for jockeys, animals, and other individuals participating in these sports by improving the racetrack surfaces. This is achieved through rigorous testing, research on alternative surfaces, and the establishment of industry standards.
Official website here: www.racingsurfaces.org
Who is the CEO of Racing Surfaces Testing Laboratory?
Michael Peterson is the Horse Owner of Racing Surfaces Testing Laboratory.
Official website here: www.racingsurfaces.org
What is the revenue of Racing Surfaces Testing Laboratory?
Racing Surfaces Testing Laboratory's revenue in 2022 was $680,081.
Official website here: www.racingsurfaces.org
Who are the executives of Racing Surfaces Testing Laboratory and what are their salaries?
The average compensation at Racing Surfaces Testing Laboratory during 2022 was $26,704. There are 8 employees at Racing Surfaces Testing Laboratory.
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Official website here: www.racingsurfaces.org
Where can I find the form 990 for Racing Surfaces Testing Laboratory?
Racing Surfaces Testing Laboratory's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.racingsurfaces.org
Learn more at the official website: www.racingsurfaces.org
Mission Statement of Racing Surfaces Testing Laboratory
Racing Surfaces Testing Laboratory is dedicated to serving the racetrack community by focusing on racetrack testing and safety improvement. Their mission extends beyond this, involving the scientific study of alternative racetrack surfaces. The primary objective is to enhance the safety of horse and dog tracks for various participants, including jockeys, animals, and other individuals involved in these sports. This is achieved by developing and promoting standards for racetrack surfaces. By doing so, Racing Surfaces Testing Laboratory aims to ensure that races are conducted on surfaces that minimize the risk of accidents and injuries, thereby providing a safer environment for all involved.
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Impact
July, 2024
Racing Surfaces Testing Laboratory's impact is significant in the field of racetrack safety and improvement. By conducting scientific studies on alternative racetrack surfaces and developing standards, they have contributed to increasing the safety of horse and dog tracks for jockeys, animals, and others involved in these sports. Their work plays a crucial role in ensuring the well-being and security of individuals and animals in the racing industry.
This information is meant to be a general summary of Racing Surfaces Testing Laboratory. 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: $24
- Program Service Revenue: $680,057
- Gross Receipts: $680,081
Assets and Liabilities:
- Total Assets: $983,369
- Total Liabilities: $57,213
- Net Assets: $926,156
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TESTING REVENUE
Revenue
$677,667
OTHER MISC
Revenue
$2,390
Organization Details
Founding Year
2009
Phone
(207) 947-4501Principal Officer
Michael Peterson
Main Address
907 National Ave, Lexington, KY, 40508
Website
www.racingsurfaces.orgNTEE Category
Code: N70 - Recreation
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