Overview
What is Racing Medication And Testing Consortium?
The Racing Medication and Testing Consortium is a nonprofit organization headquartered in Lexington, Kentucky, dedicated to ensuring the integrity of horse racing and the safety of its participants. Through research, education, and advocacy, the Consortium aims to develop and recommend policies and practices regarding the use of medications and methods in training and racing horses. They also foster relationships with regulatory authorities and stakeholder organizations, stimulate research to detect and deter new performance-enhancing substances, and maintain oversight on laboratory capabilities. Additionally, they engage with other organizations to accomplish their mission and disseminate accurate and timely information to stakeholders and the racing press. The Consortium employs a team of approximately three individuals in their mission to promote the health and safety of racehorses and the fairness of competition.
Official website here: www.rmtcnet.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Stars)
The Racing Medication And Testing Consortium has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. With an overall score derived entirely from its Accountability & Finance metrics, the organization demonstrates strengths such as having a fully independent board and a strong program expense ratio of over 72%. This suggests that the majority of its resources are directed toward its charitable programs.
However, the organization does face some limitations, particularly in the areas of governance policies. It lacks essential policies such as conflict of interest and whistleblower protections, which may raise concerns regarding transparency and accountability. Additionally, the absence of its tax form on its website limits accessibility for stakeholders looking to review its financial practices.
Overall, while the Racing Medication And Testing Consortium shows strong indicators of financial responsibility, improvement in its governance policies could further enhance its credibility and trustworthiness among donors and the public.
This AI summary has been generated from information found on Charity Navigator.
Is Racing Medication And Testing Consortium legitimate?
Racing Medication And Testing Consortium is a legitimate nonprofit organization registered as a 501(c)(3) entity. Racing Medication And Testing Consortium 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: $242,564
Professional Fundraising Fees: $0
Other Salaries and Wages: $69,716
For more financial information, click here
Official website here: www.rmtcnet.com
What is the mission statement of Racing Medication And Testing Consortium?
The Racing Medication and Testing Consortium is dedicated to ensuring the integrity of horse racing and promoting the health and safety of racehorses. Their mission includes engaging in research, education, and advocacy for science-based initiatives that advance these goals. The organization works to develop and recommend policies and prohibited practices regarding the use of medications and methods in horse training and racing. They also strive to become a trusted source of unbiased information on medication, testing, and research. Additionally, the Consortium fosters research to identify and deter the use of substances that enhance or diminish athletic performance. They establish ethical guidelines for the use of therapeutic medications and develop uniform laboratory standards for analyzing controlled medications and banned substances. Oversight of laboratory capabilities is maintained through accreditation programs, audits, and external quality assurance. The Consortium collaborates with regulatory agencies and industry organizations to accomplish their mission. Information is disseminated to stakeholders and the racing press via multiple communication channels.
Official website here: www.rmtcnet.com
Who is the CEO of Racing Medication And Testing Consortium?
Alex Waldrop is the Executive Director of Racing Medication And Testing Consortium.
Official website here: www.rmtcnet.com
What is the revenue of Racing Medication And Testing Consortium?
Racing Medication And Testing Consortium's revenue in 2022 was $718,573.
Official website here: www.rmtcnet.com
Who are the executives of Racing Medication And Testing Consortium and what are their salaries?
The average compensation at Racing Medication And Testing Consortium during 2022 was $104,093. There are 3 employees and 26 volunteers at Racing Medication And Testing Consortium.
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Official website here: www.rmtcnet.com
Where can I find the form 990 for Racing Medication And Testing Consortium?
Racing Medication And Testing Consortium's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.rmtcnet.com
Learn more at the official website: www.rmtcnet.com
Mission Statement of Racing Medication And Testing Consortium
The Racing Medication and Testing Consortium (RMTC) is a leading organization dedicated to the promotion of horse racing safety and integrity. In pursuit of this mission, the Consortium engages in research, education, and advocacy for science-based initiatives that ensure the health and safety of racehorses and the integrity of competition.
The primary focus of the RMTC is to fund, develop, and promote policy recommendations, as well as enforce strategies regarding the use of medications and methods in connection with training and racing horses. Through its collaborative efforts with state and national racing regulatory authorities and stakeholder organizations, the Consortium strives to become a respected source of unbiased information on medication, testing, and research.
Additionally, the RMTC stimulates, fosters, and solicits research proposals to identify, detect, and deter the use of novel substances and methods that may enhance or diminish athletic performance, and formulate ethical guidelines for the legitimate use of therapeutic medications and methods. The organization also develops and recommends uniform laboratory technical standards, procedures, and performance specifications for analytical methods and instrumentation used in the detection of controlled medications and banned substances.
To maintain oversight on laboratory capabilities and performance, the RMTC accredits laboratories, conducts audits by independent experts, and implements an external quality assurance program sample testing. The organization also identifies and promotes security, surveillance, and intelligence gathering practices and techniques to support enforcement of medication controls and anti-doping regulations. In collaboration with state and federal regulatory agencies, the RMTC works to prevent the synthesis, manufacture, importation, purchase, and sale of illegal or prohibited substances intended for use in horses engaged in racing or training.
The RMTC engages with industry stakeholder organizations responsible for maintaining the integrity of the sport and the health of its participants, and educates them through various programs. The organization also collaborates with other organizations regulating equine sporting disciplines and animal and human sports, both domestic and international, to accomplish its mission. The RMTC disseminates accurate and timely information to stakeholder organizations and the racing press through multiple communication channels.
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Impact
October, 2024
The Racing Medication and Testing Consortium (RMTC) plays a crucial role in enhancing the integrity and safety of horse racing. By funding research and developing evidence-based policy recommendations, the RMTC ensures that medication practices align with the highest standards of ethical treatment for horses and fair competition.
One of its primary impacts is the establishment of uniform laboratory standards and procedures that guide the detection of controlled medications and banned substances, fostering a consistent framework across the industry. This is vital for detecting and deterring the use of novel substances that could threaten the integrity of races.
Furthermore, RMTC actively engages with state and national regulatory authorities, fostering collaborative relationships that promote transparency and accountability in medication use. These efforts include educational programs tailored for stakeholders, enhancing understanding of the legal, ethical, and therapeutic guidelines for medication in racing contexts.
Through its advocacy and education initiatives, RMTC helps to ensure that the health of racehorses remains a priority, while also protecting the sport's integrity. Its work to promote surveillance and intelligence gathering techniques also bolsters enforcement against illicit practices, contributing to a more secure racing environment. Overall, the RMTC's impact is significant in shaping a safer, more reliable horse racing industry focused on the well-being of its equine participants.
This information is meant to be a general summary of Racing Medication And Testing Consortium. 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: $4,448
- Gross Receipts: $718,573
Assets and Liabilities:
- Total Assets: $1,081,317
- Total Liabilities: $50,901
- Net Assets: $1,030,416
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Organization Details
Founding Year
2003
Phone
(859) 224-2844Principal Officer
Alex Waldrop
Main Address
401 WEST MAIN STREET SUITE 222, LEXINGTON, KY, 40507
Website
www.rmtcnet.comNTEE Category
Code: D12 - Animals
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