KENTUCKY THOROUGHBRED ASSOCIATION INC Charity Report

Public IRS 990 nonprofit record

KENTUCKY THOROUGHBRED ASSOCIATION INC

EIN 61-1034871 · Professional Athletic Leagues (N80)

What they do

to ADVERTISE, FOSTER and PROMOTE THE THOROUGHBRED HORSE INDUSTRY IN THE COMMONWEALTH of KENTUCKY

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $65.20 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 leaders38 people are listed in the latest report.

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

Money made simple

42.99%of revenue went to mission work65.2% of expenses · Program services

$65.97spent for every $100 of revenueRevenue covered expenses this year.

22.97%of revenue went to management and office costs34.8% of expenses

$1.03in assets for every $1 spent this yearSome assets cannot be spent right away.

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 $173,925 for CHAUNCEY MORRIS (EXECUTIVE 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$1,323,940

Mission workProgram services$569,20542.99% of revenue65.2% of expenses

ManagementOffice and general costs$304,15922.97% of revenue34.8% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$450,57634.03% of revenueShown in gray on the chart

Total expenses$873,36465.97% 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: 65.2% mission · 34.8% management · 0.0% fundraisingTotal expenses: 65.97% of revenue

2023Expense mix: 70.4% mission · 29.6% management · 0.0% fundraisingTotal expenses: 102.14% of revenue

2022Expense mix: 69.7% mission · 30.3% management · 0.0% fundraisingTotal expenses: 94.21% of revenue

2021Expense mix: 74.3% mission · 25.7% management · 0.0% fundraisingTotal expenses: 107.23% of revenue

2020Expense mix: 70.2% mission · 29.8% management · 0.0% fundraisingTotal expenses: 102.05% of revenue

2019Expense mix: 63.3% mission · 36.7% management · 0.0% fundraisingTotal expenses: 113.99% of revenue

2018Expense mix: 66.0% mission · 34.0% management · 0.0% fundraisingTotal expenses: 96.51% of revenue

2017Expense mix: 64.4% mission · 35.6% management · 0.0% fundraisingTotal expenses: 94.30% of revenue

Money in and money out

Revenue$1,323,940

Expenses$873,364

Annual surplus $450,576 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)$569,205 · 65.2% of expenses

Management and office costs$304,159 · 34.8% of expenses

See all reported dollar amounts

Revenue$1,323,940

Expenses$873,364

Assets$897,478

Income$1,669,011

Mission work (program services)$569,205

Grants given$274,030

Average grant$21,079

Management and general$304,159

Stocks and bonds$169,556

Accounting fees$22,539

Investing fees$4,391

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

CHAUNCEY MORRISEXECUTIVE DIRECTOR · 20 hrs/week $173,925Base $130,363 · Other $43,562

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 (38)

CHAUNCEY MORRISEXECUTIVE DIRECTOR

POPE MCLEAN JRDIRECTOR EMERITUS

JOSEPH SEITZDIRECTOR EMERITUS

KELSEY DANNERDIRECTOR

KIM SMITHDIRECTOR

MICHAEL BANAHANDIRECTOR

MICHAEL J SNYDERDIRECTOR

NED TOFFEYVICE PRESIDENT

NEIL HOWARDDIRECTOR EMERITUS

NEIL PESSINDIRECTOR

PAUL J MCGEEDIRECTOR

JEFFERY D THORNBURYDIRECTOR

PRICE BELLDIRECTOR

R ALEX RANKINDIRECTOR EMERITUS

R ERIC WALDMANDIRECTOR EMERITUS

ROWLAND HANCOCKDIRECTOR

STUART E BROWN II DVMDIRECTOR

THOMAS DRURY JRDIRECTOR

WALKER HANCOCKSECRETARY

WILLIAM LS LANDES IIIDIRECTOR EMERITUS

DERMOT RYANTREASURER

BILL DAUGHERTYPRESIDENT

BRAXTON LYNCHDIRECTOR EMERITUS

CHRISTOPHER L BAKERDIRECTOR EMERITUS

CLIFFORD BARRYDIRECTOR EMERITUS

CONRAD BANDOROFFDIRECTOR

CRAIG BROGDENDIRECTOR

D WHITWORTH BECKMANDIRECTOR

DELL HANCOCKDIRECTOR EMERITUS

AUSTIN LUTTRELLDIRECTOR

DON M ROBINSONDIRECTOR EMERITUS

DR NATANYA NIEMANDIRECTOR

FERGUS GALVINDIRECTOR

FRANK PENNDIRECTOR EMERITUS

FREDERICK J SEITZDIRECTOR EMERITUS

GARRETT OROURKEDIRECTOR EMERITUS

J E STEPHEN HORNASSISTANT TREASURER

JAMES G BELLDIRECTOR EMERITUS

About this charity

Recognized since: January 1984
Location: 4079 IRON WORKS PARKWAY, LEXINGTON, KY 40511
County: Fayette
In care of: CHAUNCEY MORRIS
Primary officer: CHAUNCEY MORRIS, EXECUTIVE DIRECTOR

How to reach them

WebsiteVisit the charity’s website Phone(859) 381-1414

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: DEAN DORTON ALLEN FORD PLLC
NTEE classification: Professional Athletic Leagues (N80)
IRS tax category: Professional Athletic Leagues
Grant-giving organization: Yes