Civic Intelligence

Standardbred Owners Assocwelfare Fund

EIN 11-1875256 • 501(c)9 • Yonkers, NY

View Organization Page

Profile

WELFARE BENEFITS

733 Yonkers Avenue -suite 102Yonkers, NY 10704

www.soaofny.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

66th percentile

0.10x

Higher debt load relative to assets than 66% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

2.07x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Source year 2024

Net Margin

2nd percentile

-389%

Higher net margin than 2% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

57th percentile

7.2%

Faster asset growth than 57% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

90th percentile

54%

Faster revenue growth than 90% of similar nonprofits.

501(c)9 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$8,783,317

Up $588,150 (+7.2%) from 2023

Liabilities

Up

$903,948

Up $246,774 (+38%) from 2023

Net Assets

Up

$7,879,369

Up $341,376 (+4.5%) from 2023

Operations
Liabilities / Revenue98th percentileNet Margin2nd percentile

Revenue

Up

$435,953

Up $153,348 (+54%) from 2023

Expenses

Up

$2,131,711

Up $81,511 (+4.0%) from 2023

Net Income

Up

-$1,695,758

Up $71,837 (+4.1%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth57th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2009: $2,181,607Liabilities 2009: $96,231Net Assets 2009: $2,085,3762009Assets 2010: $3,133,374Liabilities 2010: $81,021Net Assets 2010: $3,052,3532010Assets 2011: $3,947,525Liabilities 2011: $130,189Net Assets 2011: $3,817,3362011Assets 2012: $4,408,063Liabilities 2012: $102,005Net Assets 2012: $4,306,0582012Assets 2013: $5,989,490Liabilities 2013: $144,686Net Assets 2013: $5,844,8042013Assets 2014: $5,895,261Liabilities 2014: $27,879Net Assets 2014: $5,867,3822014Assets 2015: $5,771,770Liabilities 2015: $31,295Net Assets 2015: $5,740,4752015Assets 2016: $6,914,517Liabilities 2016: $280,331Net Assets 2016: $6,634,1862016Assets 2017: $9,341,845Liabilities 2017: $60,228Net Assets 2017: $9,281,6172017Assets 2018: $10,024,033Liabilities 2018: $132,058Net Assets 2018: $9,891,9752018Assets 2019: $9,955,036Liabilities 2019: $115,550Net Assets 2019: $9,839,4862019Assets 2020: $8,240,161Liabilities 2020: $169,504Net Assets 2020: $8,070,6572020Assets 2021: $8,431,196Liabilities 2021: $471,914Net Assets 2021: $7,959,2822021Assets 2022: $7,100,695Liabilities 2022: $480,935Net Assets 2022: $6,619,7602022Assets 2023: $8,195,167Liabilities 2023: $657,174Net Assets 2023: $7,537,9932023Assets 2024: $8,783,317Liabilities 2024: $903,948Net Assets 2024: $7,879,3692024

Highlighted filing

2024

Assets$8,783,317
Liabilities$903,948
Net Assets$7,879,369
Open 2024 Filing

Operations Trend

Revenue Growth90th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2009: $157,676Expenses 2009: $606,191Net Income 2009: -$448,5152009Revenue 2010: $1,355,124Expenses 2010: $507,399Net Income 2010: $847,7252010Expenses 2011: $632,3242011Revenue 2012: $997,234Expenses 2012: $660,054Net Income 2012: $337,1802012Revenue 2013: $2,217,239Expenses 2013: $791,168Net Income 2013: $1,426,0712013Revenue 2014: $1,434,562Expenses 2014: $1,363,342Net Income 2014: $71,2202014Revenue 2015: $1,814,036Expenses 2015: $1,729,665Net Income 2015: $84,3712015Revenue 2016: $3,081,235Expenses 2016: $2,225,065Net Income 2016: $856,1702016Revenue 2017: $4,707,556Expenses 2017: $2,475,611Net Income 2017: $2,231,9452017Revenue 2018: $3,322,400Expenses 2018: $2,088,503Net Income 2018: $1,233,8972018Revenue 2019: $1,666,944Expenses 2019: $2,267,179Net Income 2019: -$600,2352019Revenue 2020: $333,435Expenses 2020: $2,468,512Net Income 2020: -$2,135,0772020Revenue 2021: $2,022,627Expenses 2021: $1,961,597Net Income 2021: $61,0302021Revenue 2022: $301,811Expenses 2022: $2,038,758Net Income 2022: -$1,736,9472022Revenue 2023: $282,605Expenses 2023: $2,050,200Net Income 2023: -$1,767,5952023Revenue 2024: $435,953Expenses 2024: $2,131,711Net Income 2024: -$1,695,7582024

Highlighted filing

2024

Revenue$435,953
Expenses$2,131,711
Net Income-$1,695,758
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$8,783,317
Liabilities
$903,948
Net assets
$7,879,369
Revenue
$435,953
Expenses
$2,131,711
Net income
-$1,695,758
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.78$0.90$7.88$0.44$2.13$1.70
2023Detailed filing. Detailed filing data is available for this year.$8.20$0.66$7.54$0.28$2.05$1.77
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.10$0.48$6.62$0.30$2.04$1.74
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.43$0.47$7.96$2.02$1.96$0.06
2020Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$8.24$0.17$8.07$0.33$2.47$2.14
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.96$0.12$9.84$1.67$2.27$0.60
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.0$0.13$9.89$3.32$2.09$1.23
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.34$0.06$9.28$4.71$2.48$2.23
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.91$0.28$6.63$3.08$2.23$0.86
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.77$0.03$5.74$1.81$1.73$0.08
2014Detailed filing. Detailed filing data is available for this year.$5.90$0.03$5.87$1.43$1.36$0.07
2013Detailed filing. Detailed filing data is available for this year.$5.99$0.14$5.84$2.22$0.79$1.43
2012Summary only. Only limited summary data is available for this year.$4.41$0.10$4.31$1.00$0.66$0.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.95$0.13$3.82$0.63
2010Summary only. Only limited summary data is available for this year.$3.13$0.08$3.05$1.36$0.51$0.85
2009Summary only. Only limited summary data is available for this year.$2.18$0.10$2.09$0.16$0.61$0.45
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 12, 2025
Return Version
2024v5.2
Gross Receipts
$1,412,819
Mission and Program Overview

Mission

WELFARE BENEFITS

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,941,235$4,231,123▲ $289,888
Cash and Non-Interest-Bearing Accounts$500,999$456,502▼ $44,497
Savings and Temporary Cash Investments$538,577$345,118▼ $193,459
Accounts Receivable$17,175$22,191▲ $5,016
Land, Buildings, and Equipment, Net$883$0▼ $883
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$8,195,167$8,783,317▲ $588,150
Other Assets Total$3,196,298$3,728,383▲ $532,085
Liabilities
Accounts Payable and Accrued Expenses$657,174$903,948▲ $246,774
Total Liabilities$657,174$903,948▲ $246,774
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,537,993$7,879,369▲ $341,376
Total Net Assets Fund Balance$7,537,993$7,879,369▲ $341,376
Total Liabilities and Net Assets / Fund Balance$8,195,167$8,783,317▲ $588,150

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$16,926$16,926
Equipment-$8,807$8,807
Other Assets Org$3,135--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023----$164,095
2022----$164,095
2021----$14,769
2020----$14,769
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Irving AthertonTrustee
Joseph a FaraldoTrustee
Peter VenagliaTrustee
Chris Wittstruck3rd VP
PATRICK O'BRIENFoundation Mana
Peter YoungerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$91,359
Investment Income
$344,594
Other Revenue
$0
Change in Net Assets
$-1,695,758
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$233,166
Salaries, Compensation, and Employee Benefits$141,117
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$1,757,428
Other Salaries and Wages---$131,514
Fees for Service Investment Mgmnt Fees---$48,199
Occupancy---$23,273
Office Expenses---$13,572
Insurance---$11,172
Fees for Services Accounting---$10,000
Payroll Taxes---$9,603
Fees for Services Legal---$3,925
Information Technology---$2,125
Fees for Services Other---$1,942
Other Expenses---$1,505
Depreciation Depletion---$882
Total Functional Expenses$0$0$0$2,131,711
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Board reviews 990 prior to filing”

Form 990, Part VI, Section B, Line 12C

“Governing members review annually”

Form 990, Part VI, Section B, Line 15B

“Trustees review and aprove compensation”

Form 990, Part VI, Section C, Line 19

“Governing docs, policies and financial statements are open to inspection to members upon request”

Filing and Contact Details

Filer

Filer Name
Standardbred Owners Assocwelfare Fund
EIN
11-1875256
Phone
9149683599
Address
733 YONKERS AVENUE -SUITE 102, YONKERS, NY 10704

Signing Officer

Name
PATRICK O'BRIEN
Title
Foundation Manager
Signed
2025-09-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph a Faraldo
Formed
1958
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Sklar Kantor Block CPAS LLP
Address
500 Bedford Avenue, Bellmore, NY 11710
Preparer
Craig Gordon CPA
Phone
5168264300
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Transfer from soa = $1700000”

Financial Statement Notes

Part X : FIN48 Footnote

“ASC 470 DISCLOSUREThe Associaton has evaluated its tax positions for all open tax years (2012-2024). The Association is not currently under audit nor has the Association been contacted by any jurisdiction. Based on the evaluation of the Association's tax position, management believes all tax positions taken would be upheld under examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for the year ended December 31, 2024”

Raw XML Appendix393 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/DepreciationDepletionGrp/TotalAmt0882
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IRS990/OtherExpensesGrp/Desc0UNRELATED BUSI. ICOME TAX
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IRS990/PrincipalOfficerNm0JOSEPH A FARALDO
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt014769
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IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt08807
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt08807
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt13135
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Rounding
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1SECURITY DEPOSIT
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ASC 470 DISCLOSUREThe Associaton has evaluated its tax positions for all open tax years (2012-2024). The Association is not currently under audit nor has the Association been contacted by any jurisdiction. Based on the evaluation of the Association's tax position, management believes all tax positions taken would be upheld under examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for the year ended December 31, 2024
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03728383
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD REVIEWS 990 PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING MEMBERS REVIEW ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TRUSTEES REVIEW AND APROVE COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCS, POLICIES AND FINANCIAL STATEMENTS ARE OPEN TO INSPECTION TO MEMBERS UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TRANSFER FROM SOA = $1700000
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, Line 9
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0STANDARDBRED OWNERS ASSOCIATION INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1STANDARDBRED OWNERS ASSC EMRGY WELF FND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0111867812
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1116038293
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501 (c)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501 (c)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TRADE ASSOCIATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1PROVIDE SOCIAL BENEFITS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0733 YONKERS AVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1733 YONKERS AVE
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IRS990/USAddress/AddressLine1Txt0733 YONKERS AVENUE -SUITE 102
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ReasonableCauseExplanation/ExplanationTxt0Subject: Reasonable Cause Statement for Late Filing of Form 990This is a statement of reasonable cause for the late filing of the Form 990 for The Standardbred Owners Association Welfare Fund for the fiscal year ending December 31, 2024. We are requesting an abatement of the penalties associated with this late filing. The reason for the delay was an unforeseen medical emergency experienced by our tax accountant, Craig Gordon. He was the sole individual responsible for the preparation and filing of our tax documents. On May 15, 2025, just prior to the filing deadline, he suffered a serious medical emergency that required immediate treatment and subsequent hospitalization. As a result of this emergency, he was incapacitated and unable to complete the Form 990 or to file for an extension on our behalf. We were not aware of his condition until after the filing deadline had passed, as he was unable to communicate with us during this critical period.We understand the importance of timely filing and have always maintained a history of compliance with our tax obligations. This was an exceptional and unavoidable circumstance beyond our control. We have taken steps to ensure that such a situation will not occur again in the future, including establishing a contingency plan for our financial and tax-related matters.We believe that this unfortunate and unforeseen event constitutes reasonable cause for the late filing. We kindly request that you consider this statement and grant us a waiver of the associated penalties.
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PATRICK O'BRIEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Foundation Manager
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-09-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0STANDARDBRED OWNERS ASSOCWELFARE FUND
ReturnHeader/Filer/BusinessNameControlTxt0STAN
ReturnHeader/Filer/EIN0111875256
ReturnHeader/Filer/PhoneNum09149683599
ReturnHeader/Filer/USAddress/AddressLine1Txt0733 YONKERS AVENUE -SUITE 102
ReturnHeader/Filer/USAddress/CityNm0YONKERS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010704
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0112690003
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Sklar Kantor Block CPAS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0500 Bedford Avenue
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Bellmore
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011710
ReturnHeader/PreparerPersonGrp/PhoneNum05168264300
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Craig Gordon CPA
ReturnHeader/ReturnTs02025-09-12T10:01:07-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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