Kentucky Racing Health And Welfare Fund Inc

Charity Navigator Rating: 88% (Three-Star out of Four Star rating)

The Kentucky Racing Health and Welfare Fund Inc has achieved an 88% score, which reflects a solid performance in terms of accountability and finance. This score is derived solely from the Accountability & Finance beacon, indicating that the organization has effectively managed its financial responsibilities and transparency practices in the most recent fiscal year (FY2023).

Strengths of the organization include an entirely independent board of members, which contributes to strong governance. The fund has also demonstrated effective oversight with a high program expense ratio of 91.24%, indicating that the majority of its financial resources are directed toward its programs rather than administrative costs. Additionally, the organization has no material diversion of assets, further reinforcing its financial integrity.

However, the absence of a conflict of interest policy and a whistleblower policy, both noted as missing, represents a potential area for improvement in governance practices. While the organization performs well financially, addressing these policy gaps could enhance its overall accountability framework and foster greater trust among stakeholders.

This AI summary has been generated from information found on Charity Navigator.

Kentucky Racing Health And Welfare Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kentucky Racing Health And Welfare 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: $157,325
Professional Fundraising Fees: $0
Other Salaries and Wages: $176,592

For more financial information, click here

Official website here: www.kyracinghealth.com