Pa Thoroughbred Horsemens Assoc Inc

“The organization has members as defined by the bylaws. A member is an owner or a trainer having a horse or horses race in a certain number of races at the race track within a defined time frame.”

“The members elect the board members and the president. Management of the day to day affairs of the entities is designated to the board. The board designates day to day managment to the executive director.”

“Members do not make any decisions other than the election of the board members and the president. The board makes all binding decisions for the organization. The executive director and the president are advisors to the board. Currently the executive director and the president are also currently elected board members. The executive director is the board member designated as not independent on the 990 since he is a compensated employee.”

“The director of finance & accounting (dfa) reviews the tax return and finalizes draft return with preparer. The dfa circulates the draft tax return via email to the board for review. The dfa give the board a week to review and respond with any questions or comments before finalizing the draft for filing.”

“The board has established a conflict of interest policy and has informed all employees and directors of their responsibility to report any known or potential conflicts of interest to any board member or officer as soon as they are aware of the conflict or potential conflict. There is an annual written reporting requirement. Management says it is compliant with this policy.”

“The organization gives the public access to its 990 form upon written request. The audited financial statements of the organization when available are posted by regulatory agencies of pa to its pa webiste and can be accessed by the public. It does not make public its governing policies or conflict of interest documents and procedures. If it ever receives a written request for such information a board meeting would be scheduled to discuss a response.”

“All board meetings are documented by the office manager and assistant secretary.”

“The board and or the president or executive director may appoint committees to assist them in administrating the affairs of the organization. However, none of these committees have rule making authority. All rule making authority is reserved for the board. Such committees are responsible for maintaining documentation of its meetings and recommendations and does not provide copies of its documentation to the administration office staff.”

“The board of directors discussed and approved the compensation for the executive director. The board made efforts to identify comparable compensation levels; however, there are only a limited number of similar positions available for comparison. The executive director's salary was approved by the board under a three-year contract effective from january 2023 through december 2025. The salaries of the director of operations and the director of finance and accounting were approved by the president, in consultation with the executive director and treasurer. These three individuals the executive director, director of operations, and director of finance and accounting are the only compensated officers of the organization.”

“The executive director's salary was approved by the board under a three-year contract effective from january 2023 through december 2025. The salaries of the director of operations and the director of finance and accounting were approved by the president, in consultation with the executive director and treasurer. It is difficult to find a comparable organization in a similar industry in pa. The executive director and board members are responsible for managing four separate entities related by common control. All compensation of officers and directors, if any, is paid for by pa thoroughbred horsemens association, inc. Some of it may by allocated to related entities. The board believes the compensation it approves for the executive director and other officers is reasonable for the services performed.”

“The organization gives the public access to its 990 form upon written request. The audited financial statements of the organization when available are posted by regulatory agencies of pa to its pa webiste and can be accessed by the public. It does not make public its governing policies or conflict of interest documents and procedures. If it ever receives a written request for such information a board meeting would be scheduled to discuss a response. The form 990 is available for public inspection on the irs website.”

“By state statute the parent organization is required to provide healthcare insurance benefits for its trainer members based on certain eligibility requirements. As such the trainer directors receive healthcare insurance benefits from the parent organization when they meet eligibility criteria as approved by the pennsylvania gaming control board. The monetary value of these benefits are reflected in part vii, section a, column f.”

“The process has not changed from the prior year”