Civic Intelligence

Standardbred Owners Association Welfare Fund

990 • Fiscal year 2017 • EIN 11-1875256

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 19, 2018

Organization Profilewww.soaofny.com

View Organization Page

733 Yonkers Avenue -suite 102Yonkers, NY 10704

(914) 968-3599

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

39th percentile

0.01x

Higher debt load relative to assets than 39% of similar nonprofits.

2017 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

43rd percentile

0.01x

Higher debt load relative to revenue than 43% of similar nonprofits.

2017 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2017

Net Margin

87th percentile

47%

Higher net margin than 87% of similar nonprofits.

2017 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

66th percentile

$39,981

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2017 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2017

Asset Growth

89th percentile

35%

Faster asset growth than 89% of similar nonprofits.

2017 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

93rd percentile

53%

Faster revenue growth than 93% of similar nonprofits.

2017 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets39th percentile

Assets

Up

$9,341,845

Up $2,427,328 (+35%) from 2016

Net Assets

Up

$9,281,617

Up $2,647,431 (+40%) from 2016

Liabilities

Down

$60,228

Down $220,103 (-79%) from 2016

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin87th percentile

Revenue

Up

$4,707,556

Up $1,626,321 (+53%) from 2016

Expenses

Up

$2,475,611

Up $250,546 (+11%) from 2016

Net Income

Up

$2,231,945

Up $1,375,775 (+161%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth89th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2017

Assets$9,341,845
Liabilities$60,228
Net Assets$9,281,617
Open 2017 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income across loaded years, with this 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

2017

Revenue$4,707,556
Expenses$2,475,611
Net Income$2,231,945
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 19, 2018
Return Version
2017v2.2
Gross Receipts
$7,002,678
Mission and Program Overview

Mission

WELFARE BENEFITS

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,689,991$6,911,219▲ $1,221,228
Cash and Non-Interest-Bearing Accounts$345,608$1,189,722▲ $844,114
Accounts Receivable$793,523$929,634▲ $136,111
Savings and Temporary Cash Investments$82,258$284,236▲ $201,978
Prepaid Expenses and Deferred Charges-$23,896-
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$6,914,517$9,341,845▲ $2,427,328
Other Assets Total$3,137$3,138▲ $1
Liabilities
Accounts Payable and Accrued Expenses$280,331$60,228▼ $220,103
Total Liabilities$280,331$60,228▼ $220,103
Net Assets / Fund Balance
Unrestricted Net Assets$6,634,186$9,281,617▲ $2,647,431
Total Net Assets Fund Balance$6,634,186$9,281,617▲ $2,647,431
Total Liabilities and Net Assets / Fund Balance$6,914,517$9,341,845▲ $2,427,328

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$18,212$18,212
Equipment-$3,246$3,246
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Alex DadoyanFoundation ManaPT$39,981$39,981

Board Members and Trustees

NameTitle
Henrey GargiuloTrustee
Irving AthertonTrustee
John BrennanTrustee
Joseph a FaraldoTrustee
Peter VenagliaTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,396,775
Investment Income
$310,781
Other Revenue
$0
Change in Net Assets
$2,231,945
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$175,495
Salaries, Compensation, and Employee Benefits$70,131
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$2,229,985--$2,229,985
Other Expenses-$79,447-$79,447
Fees for Service Investment Mgmnt Fees$42,318--$42,318
Current Officers, Directors, Trustees, and Key Employees-$39,981-$39,981
Other Salaries and Wages-$24,538-$24,538
Occupancy-$20,507-$20,507
Office Expenses-$10,643-$10,643
Insurance-$10,502-$10,502
Fees for Services Accounting-$10,000-$10,000
Payroll Taxes-$5,612-$5,612
Information Technology-$2,078-$2,078
Total Functional Expenses$2,272,303$203,308$0$2,475,611
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 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, Line 11B: Form 990 Review Process

“Board reviews 990 prior to filing”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Governing members review annually”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Trustees review and aprove compensation”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“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
Alex Dadoyan
Title
Foundation Mana
Signed
2018-11-19
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
3

Preparer

Firm
Sklar Heyman Hirshfield & Kantor LLP
Address
500 Bedford Avenue, Bellmore, NY 11710-3546
Preparer
Craig Gordon CPA
Phone
5168264300
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Transfer to emergency welfare fund = -$11500”

Financial Statement Notes

Part X : FIN48 Footnote

“FIN 48 DISCLOSUREThe Associaton has evaluated its tax positions for all open tax years (2015-2017). 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, 2017”

Raw XML AppendixShowing 400 of 413 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.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 DISCLOSUREThe Associaton has evaluated its tax positions for all open tax years (2015-2017). 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, 2017
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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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 TO EMERGENCY WELFARE FUND = -$11500
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other Changes In Net Assets Or Fund Balances - Other Decreases
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2STANDARDBRED OWNERS ASSC EMRGY WELF FND
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0RETIREMENT BENEFITS TO MEMBERS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1TRADE ASSOCIATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2PROVIDE SOCIAL BENEFITS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0733 YONKERS AVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1733 YONKERS AVE
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,341,845
Liabilities
$60,228
Net assets
$9,281,617
Revenue
$4,707,556
Expenses
$2,475,611
Net income
$2,231,945
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
2017Detailed filing. Detailed filing data is available for this year.$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
Peer Organizations

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