Overview
What is Maryland Standardbred Horsemen's Assistance Fund Inc?
Maryland Standardbred Horsemen's Assistance Fund Inc is a charitable organization situated in Temple Hills, Maryland. Its primary objective is to provide aid and assistance to Standardbred horsemen and their families, utilizing funds collected from fines imposed by the Maryland Racing Commission. The Fund's mission is deeply rooted in supporting the wellbeing of Standardbred horsemen, offering a safety net during challenging times. With a small team of dedicated individuals, the organization strives to make a significant impact in the lives of those involved in the Standardbred horse racing community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star Rating - 73%)
The Maryland Standardbred Horsemen's Assistance Fund Inc has received a Two-Star rating from Charity Navigator, indicating that while the organization has some strengths, there are significant areas for improvement. The organization boasts a fully independent board and has no reported material diversion of assets, which are positive indicators of governance.
However, the nonprofit has notable deficiencies in its accountability and transparency practices. The absence of critical policies such as a conflict of interest policy and a whistleblower policy, along with missing documentation regarding their document retention and destruction practices, has impacted their overall score. Additionally, the organization’s website is missing from its tax form submission, which has further contributed to the lower rating.
Despite these issues, the Maryland Standardbred Horsemen's Assistance Fund maintains a solid program expense ratio of 67.34%, suggesting that a good portion of its resources is directed towards its programs. Improving transparency and governance practices will be essential for enhancing its rating and increasing donor trust in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Maryland Standardbred Horsemen's Assistance Fund Inc legitimate?
Maryland Standardbred Horsemen's Assistance Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Maryland Standardbred Horsemen's Assistance Fund 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: $12,000
For more financial information, click here
What is the mission statement of Maryland Standardbred Horsemen's Assistance Fund Inc?
The Maryland Standardbred Horsemen's Assistance Fund Inc has a mission to utilize fines imposed by the Maryland Racing Commission for the charitable benefit and aid of Standardbred horsemen and their families. The primary objective of the organization is to provide assistance in the form of charitable benefits, aid, and assistance to Standardbred horsemen and their families. The funds derived from these fines are aimed at offering support during challenging times. The organization's activities focus on uplifting the well-being of those involved in the Standardbred horse racing industry.
Who is the CEO of Maryland Standardbred Horsemen's Assistance Fund Inc?
Sharon L Roberts is the Director of Maryland Standardbred Horsemen's Assistance Fund Inc.
What is the revenue of Maryland Standardbred Horsemen's Assistance Fund Inc?
Maryland Standardbred Horsemen's Assistance Fund Inc's revenue in 2022 was $59,773.
Who are the executives of Maryland Standardbred Horsemen's Assistance Fund Inc and what are their salaries?
The average compensation at Maryland Standardbred Horsemen's Assistance Fund Inc during 2022 was $12,000. There is 1 employee at Maryland Standardbred Horsemen's Assistance Fund Inc.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Maryland Standardbred Horsemen's Assistance Fund Inc?
Maryland Standardbred Horsemen's Assistance Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Maryland Standardbred Horsemen's Assistance Fund Inc
The Maryland Standardbred Horsemen's Assistance Fund Inc is an organization that has a mission to utilize fines imposed by the Maryland Racing Commission for the charitable benefit and aid of Standardbred horsemen and their families. In simpler terms, this nonprofit uses financial penalties to offer assistance and support to Standardbred horse trainers and their families who may be facing difficulties. The primary goal of the Maryland Standardbred Horsemen's Assistance Fund Inc is to provide charitable aid and benefit to those involved in the Standardbred horse racing industry in Maryland.
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Impact
August, 2024
Maryland Standardbred Horsemen's Assistance Fund Inc provides critical support and assistance to standardbred horsemen and their families in Maryland. By utilizing funds derived from fines assessed by the Maryland Racing Commission, this organization offers charitable benefits and aid to those involved in the standardbred racing industry. Through their mission, they help improve the welfare and livelihoods of standardbred horsemen, ensuring they receive the necessary support during challenging times. Their impact is evident in the tangible assistance and resources they provide to the standardbred community, making a positive difference in the lives of individuals dedicated to this industry.
This information is meant to be a general summary of Maryland Standardbred Horsemen's Assistance Fund 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: $940
- Program Service Revenue: $15,000
- Gross Receipts: $59,773
Assets and Liabilities:
- Total Assets: $162,091
- Total Liabilities: $0
- Net Assets: $162,091
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HORSEMEN FINES
Revenue
$15,000
Organization Details
Founding Year
2001
Phone
(301) 567-9636Principal Officer
Sharon L Roberts
Main Address
PO BOX 1732, TEMPLE HILLS, MD, 20757
NTEE Category
Code: T20 - Philanthropy
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