HARNESS RACING MUSEUM AND HALL OF FAME Charity Report

Public IRS 990 nonprofit record

HARNESS RACING MUSEUM AND HALL OF FAME

EIN 14-1368198 · Arts, Culture & Humanities (A500)

What they do

THE HARNESS RACING MUSEUM & HALL of FAME is DEDICATED to COMPREHENSIVE, ACTIVE and AUTHORITATIVE SUPPORT and PROMOTION of THE STANDARDBRED RACING THROUGH DOCUMENTATION and PRESERVATION of THE HISTORY and TRADITIONS of THIS AMERICAN-BORN SPORT. IT WILL ALSO CONTINUE to AUGMENT EXISTING COLLECTIONS and PROVIDE EXTENSIVE RESEARCH, EDUCATIONAL PROGRAMMING and EXCITING EXHIBITRY to EXPAND HARNESS RACINGS INTEREST APPEAL, BOTH NATIONALLY and INTERNATIONALLY, to ASSURE AN INFORMED AUDIENCE and A SUCCESSFUL FUTURE.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $71.80 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders25 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

53.93%of revenue went to mission work71.8% of expenses · Program services

6.15%of revenue went to fundraising8.2% of expenses

$75.15spent for every $100 of revenueRevenue covered expenses this year.

15.07%of revenue went to management and office costs20.0% of expenses

$7.49in assets for every $1 spent this yearSome assets cannot be spent right away.

46.8%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $156,732 for JANET T TERHUNE (DIRECTOR). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$1,685,299

Mission workProgram services$908,83653.93% of revenue71.8% of expenses

ManagementOffice and general costs$253,91015.07% of revenue20.0% of expenses

FundraisingAsking for donations$103,6976.15% of revenue8.2% of expenses

Revenue left after expensesReported annual surplus$418,85624.85% of revenueShown in gray on the chart

Total expenses$1,266,44375.15% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 71.8% mission · 20.0% management · 8.2% fundraisingTotal expenses: 75.15% of revenue

2023Expense mix: 69.8% mission · 22.1% management · 8.1% fundraisingTotal expenses: 83.76% of revenue

2022Expense mix: 71.0% mission · 20.2% management · 8.8% fundraisingTotal expenses: 117.18% of revenue

2021Expense mix: 68.8% mission · 22.0% management · 9.2% fundraisingTotal expenses: 53.28% of revenue

2020Expense mix: 68.9% mission · 21.7% management · 9.4% fundraisingTotal expenses: 95.08% of revenue

2019Expense mix: 71.7% mission · 19.6% management · 8.8% fundraisingTotal expenses: 101.85% of revenue

2018Expense mix: 70.8% mission · 20.0% management · 9.2% fundraisingTotal expenses: 107.79% of revenue

2017Expense mix: 71.7% mission · 19.5% management · 8.8% fundraisingTotal expenses: 66.58% of revenue

Money in and money out

Revenue$1,685,299

Expenses$1,266,443

Annual surplus $418,856 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$908,836 · 71.8% of expenses

Management and office costs$253,910 · 20.0% of expenses

Fundraising$103,697 · 8.2% of expenses

See all reported dollar amounts

Revenue$1,685,299

Expenses$1,266,443

Assets$9,491,621

Income$4,051,054

Contributions$789,477

Mission work (program services)$908,836

Fundraising$103,697

Management and general$253,910

Executive compensation (total)$140,384

Stocks and bonds$8,805,092

Accounting fees$10,340

Investing fees$55,775

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

JANET T TERHUNEDIRECTOR · 40 hrs/week $156,732Base $126,232 · Other $30,500

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (25)

JANET T TERHUNEDIRECTOR

KATHY PARKERSECRETARY

THOMAS A CHARTERSTRUSTEE

THEODORE GEWERTZTRUSTEE

STEVE JONESTRUSTEE

STEPHEN E OLDFORDVICE PRESIDENT

SETH ROSENFELDTREASURER

RUSSELL C WILLIAMSTRUSTEE

ROGER E HUSTONTRUSTEE

ROBERT M BONITRUSTEE

MITCHEL SKOLNICKTRUSTEE

MAX J HEMPTPRESIDENT

MARVIN KATZTRUSTEE

LAWRENCE S DEVANTRUSTEE

DAVID H MCDUFFEETRUSTEE

KARYN MALINOWSKITRUSTEE

JOHN M EGLOFF DVMTRUSTEE

JOHN D CAMPBELLTRUSTEE

JIMMY W TAKTERTRUSTEE

JAY E FARRARTRUSTEE

JAMES W SIMPSONTRUSTEE

FRANK ANTONACCITRUSTEE

ELIZABETH CALDWELLTRUSTEE

ELBRIDGE T GERRY JRTRUSTEE

DAVID P REIDTRUSTEE

About this charity

Recognized since: January 1951
Location: 240 MAIN ST, GOSHEN, NY 10924-2157
County: Orange
In care of: MAX J HEMPT
Primary officer: MAX J HEMPT, PRESIDENT

How to reach them

WebsiteVisit the charity’s website Emailinfo@harnessmuseum.com Phone(845) 294-6330

Filing and classification

Latest tax year: 2024
Tax period began: May 1, 2024
Return type: 990
Tax preparer: SAX LLP
NTEE classification: Arts, Culture & Humanities (A500)
IRS tax category: Museums