Overview
What is Minnesota Thoroughbred Association?
The Minnesota Thoroughbred Association is a nonprofit organization situated in Shakopee, Minnesota. Its primary function involves fostering interest in breeding and racing Thoroughbred horses within the state. Membership fees primarily cover a subscription to their industry magazine, "The Minnesota Thoroughbred Journal." The association also collects nomination fees and organizes stake races for horse foals in Minnesota, in addition to hosting yearling auctions. The purpose of these activities is to promote and support the Thoroughbred horse breeding and racing sport/industry in Minnesota, with a dedicated staff of one individual.
Official website here: www.minnesotabred.com
Is Minnesota Thoroughbred Association legitimate?
Minnesota Thoroughbred Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Minnesota Thoroughbred Association 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: $59,167
For more financial information, click here
Official website here: www.minnesotabred.com
What is the mission statement of Minnesota Thoroughbred Association?
The Minnesota Thoroughbred Association's mission is to foster an interest in breeding and racing Thoroughbred horses. Their primary goal is to support and promote the Thoroughbred horse breeding and racing industry within the state. A substantial portion of the membership fees collected by the association goes towards subscribing to an industry magazine, "The Minnesota Thoroughbred Journal." Additionally, the Minnesota Thoroughbred Association collects nomination fees and organizes stake races for horse foals in Minnesota, as well as hosting yearling auctions.
Official website here: www.minnesotabred.com
What is the revenue of Minnesota Thoroughbred Association?
Minnesota Thoroughbred Association's revenue in 2023 was $545,350.
Official website here: www.minnesotabred.com
Who are the executives of Minnesota Thoroughbred Association and what are their salaries?
The average compensation at Minnesota Thoroughbred Association during 2023 was $59,167. There is 1 employee at Minnesota Thoroughbred Association.
Here are 9 key members and their salaries:
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Official website here: www.minnesotabred.com
Where can I find the form 990 for Minnesota Thoroughbred Association?
Minnesota Thoroughbred Association's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.minnesotabred.com
Learn more at the official website: www.minnesotabred.com
Mission Statement of Minnesota Thoroughbred Association
The Minnesota Thoroughbred Association, a notable organization, is dedicated to fostering interest in breeding and racing Thoroughbred horses within the state of Minnesota. Their primary objective is to promote and support the Thoroughbred horse breeding and racing sport/industry within the state. To achieve this mission, the association collects membership fees, a significant portion of which is used to provide subscriptions to an industry magazine titled "The Minnesota Thoroughbred Journal." Additionally, the Minnesota Thoroughbred Association collects nomination fees and organizes stake races for horse foals born in Minnesota, as well as yearling auctions. These activities are crucial in sustaining and growing the Thoroughbred horse breeding and racing industry within the state.
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Impact
October, 2024
The Minnesota Thoroughbred Association plays a pivotal role in advancing the breeding and racing of thoroughbred horses in the state. By collecting membership fees, the association provides valuable industry insights and updates through "The Minnesota Thoroughbred Journal," ensuring members stay informed about key developments in the equine sector.
The association also facilitates the growth of the thoroughbred industry by organizing stake races for horse foals and conducting yearling auctions, creating opportunities for breeders and trainers to showcase their horses. This not only enhances the competitive landscape but also stimulates local economies by drawing participants and spectators to events. Through its initiatives, the Minnesota Thoroughbred Association fosters a vibrant community focused on the appreciation and advancement of thoroughbred racing, ultimately contributing to the improvement and sustainability of the equine industry in Minnesota.
This information is meant to be a general summary of Minnesota Thoroughbred Association. 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: $163
- Program Service Revenue: $538,662
- Gross Receipts: $545,350
Assets and Liabilities:
- Total Assets: $55,016
- Total Liabilities: $9,490
- Net Assets: $45,526
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HORSE AUCTIONS
Revenue
$468,876
NOMINATIONS
Revenue
$58,748
MEMBERSHIP DUES
Revenue
$10,075
NEWSLETTER ADS
Revenue
$963
Organization Details
Founding Year
1971
Principal Officer
Dan Flanigan
Website
www.minnesotabred.comNTEE Category
Code: S40 - Community improvement
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