Civic Intelligence

Turning for Home Inc.

990 • Fiscal year 2017 • EIN 26-2698385

Jan 01, 2017 to Dec 31, 2017 • Filed on Jan 02, 2018

PO Box 300Bensalem, PA 19020

(215) 638-2012

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.21x

Higher debt load relative to assets than 72% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

45th percentile

0.02x

Higher debt load relative to revenue than 45% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

35th percentile

-1.3%

Higher net margin than 35% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

98th percentile

$367,439

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 66.5% of source-year revenue.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

11th percentile

-16%

Faster asset growth than 11% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

87th percentile

57%

Faster revenue growth than 87% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Down

$62,903

Down $11,754 (-16%) from 2016

Net Assets

Down

$49,765

Down $6,930 (-12%) from 2016

Liabilities

Down

$13,138

Down $4,824 (-27%) from 2016

Revenue

Up

$552,160

Up $199,769 (+57%) from 2016

Expenses

Up

$559,090

Up $136,815 (+32%) from 2016

Net Income

Up

-$6,930

Up $62,954 (+90%) from 2016

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2012: $327,956Liabilities 2012: $4,687Net Assets 2012: $323,2692012Assets 2014: $209,345Liabilities 2014: $7,628Net Assets 2014: $201,7172014Assets 2015: $195,012Liabilities 2015: $68,504Net Assets 2015: $126,5082015Assets 2016: $74,657Liabilities 2016: $17,962Net Assets 2016: $56,6952016Assets 2017: $62,903Liabilities 2017: $13,138Net Assets 2017: $49,7652017Assets 2018: $138,891Liabilities 2018: $32,238Net Assets 2018: $106,6532018Assets 2019: $101,870Liabilities 2019: $28,616Net Assets 2019: $73,2542019Assets 2020: $63,402Liabilities 2020: $29,199Net Assets 2020: $34,2032020Assets 2021: $91,526Liabilities 2021: $32,438Net Assets 2021: $59,0882021Assets 2022: $70,065Liabilities 2022: $17,549Net Assets 2022: $52,5162022Assets 2024: $646,309Liabilities 2024: $22,030Net Assets 2024: $624,2792024

Highlighted filing

2017

Assets$62,903
Liabilities$13,138
Net Assets$49,765

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2012: $310,6322012Revenue 2014: $356,554Expenses 2014: $429,921Net Income 2014: -$73,3672014Revenue 2015: $415,344Expenses 2015: $490,553Net Income 2015: -$75,2092015Revenue 2016: $352,391Expenses 2016: $422,275Net Income 2016: -$69,8842016Revenue 2017: $552,160Expenses 2017: $559,090Net Income 2017: -$6,9302017Revenue 2018: $611,477Expenses 2018: $554,589Net Income 2018: $56,8882018Revenue 2019: $578,784Expenses 2019: $612,183Net Income 2019: -$33,3992019Revenue 2020: $464,681Expenses 2020: $511,978Net Income 2020: -$47,2972020Revenue 2021: $575,732Expenses 2021: $555,130Net Income 2021: $20,6022021Revenue 2022: $607,109Expenses 2022: $613,681Net Income 2022: -$6,5722022Revenue 2024: $1,251,790Expenses 2024: $1,096,126Net Income 2024: $155,6642024

Highlighted filing

2017

Revenue$552,160
Expenses$559,090
Net Income-$6,930
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jan 2, 2018
Return Version
2017v2.2
Gross Receipts
$568,883
Mission and Program Overview

Mission

Provide for retirement and rehabilitation of race horses

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$617$58,803▲ $58,186
Accounts Receivable$74,040$4,100▼ $69,940
Total Assets$74,657$62,903▼ $11,754
Liabilities
Accounts Payable and Accrued Expenses$11,279$13,138▲ $1,859
Other Liabilities$6,683--
Total Liabilities$17,962$13,138▼ $4,824
Net Assets / Fund Balance
Unrestricted Net Assets$56,695$49,765▼ $6,930
Total Net Assets Fund Balance$56,695$49,765▼ $6,930
Total Liabilities and Net Assets / Fund Balance$74,657$62,903▼ $11,754
Compensation and Service Providers

Employees

NameTitleOtherTotal
Michael P BallezziExecutive Director Director$367,439$367,439
Connie YoumansSecretary$100,398$100,398
John C ServisDirector$30,076$30,076
Kathleen DemasiDirector$25,125$25,125
Robert E ReidDirector$24,705$24,705
Philip AristoneDIRECTOR 2nd VP$24,435$24,435
Salvaore M DebundaPresident$5,798$5,798
Ronald GloriosoDirector$1,657$1,657
Steven a AppelDirector 1st VP$1,327$1,327

Board Members and Trustees

NameTitle
Carlos a AsencioDirector
Lisa AllenDirector
Nicholas J SaponaraDirector-treasurer
Michael P Ballezzi EsquireExecutive Director Director
Revenue and Support

Revenue Composition

Contributions and Grants
$568,883
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-16,723
All Other Contributions
$344,705
Change in Net Assets
$-6,930

Audited Revenue Reconciliation

Revenue per Audited Statements
$552,160
Total Revenue per Audited Statements
$552,160
Total Revenue per Form 990
$552,160
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$471,730
Salaries, Compensation, and Employee Benefits$87,360
Total Fundraising Expense$8,736
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$66,300$3,900$7,800$78,000
Other Expenses$54,673--$54,673
All Other Expenses$9,890$3,674-$13,564
Fees for Services Accounting$3,368$3,367-$6,735
Payroll Taxes$5,072$298$597$5,967
Office Expenses-$5,168-$5,168
Travel-$5,128-$5,128
Other Employee Benefits$2,884$170$339$3,393
Total Functional Expenses$528,649$21,705$8,736$559,090

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$559,090
Total Expenses per Audited Statements$559,090
Total Expenses per Form 990$559,090
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$16,723
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Tfh Day$34,996$34,996$12,196$22,800
Table Sales$13,732$13,732$4,527$9,205
Total Events$58,338$58,338$16,723$41,615
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

The president and the Executive director review the Form 990 with the controller before filing. Eventually either before filing or after filing every director is provided the opportunity to review a complete copy of the 990 and ask any questions he or she may have. A board member can request to see the form 990 as frequently as he or she wants and can obtain a copy from the IRS and PA Charities websites or by request from those sources.

Conflict of interest policy compliance Part VI line 12C

Board adopted a conflict of interest policy in 2012 and the Executive director and Secretary are on site most of their working time and are aware of most of the vendors and the members the entity does business with on a regular basis.

Other officer or key employee compensation Part VI line 15B

Turning for Home, Inc.s (TFH) staff is on the payroll of the parent company (PTHA). TFH reimburses the parent company for all costs related to its staff. Included in the staff are the executive director, the secretary, the controller and office staff persons. The office staff are allocated 100% to TFH and the others are allocated on estimates of time spent working on TFH activities. The Board and oversight of PTHA and TFH are the same.

Governing documents etc available to public Part VI line 19

Information is available by the public from the IRS since it is a charity and the public may request the information from the company. The information is also available from the PA Charities division.

Filing and Contact Details

Filer

Filer Name
Turning for Home Inc
EIN
26-2698385
Address
PO BOX 300, BENSALEM, PA 19020

Signing Officer

Name
Michael P Ballezzi Esquire
Title
Executive Direc
Phone
2156382012
Signed
2018-01-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Salvaore M Debunda Esquire
Formed
2008
Legal Domicile
Pa
Voting Board Members
11
Independent Board Members
10
Employees
0

Preparer

Firm
Frank H Slattery & Associates LLC
Address
739 S White Horse Pike Suite 4, Audubon, NJ 08106-1659
Preparer
Frank H Slattery III
Phone
8563101400
Supplemental Narrative

Additional Explanations

General explanation attachment

Disclousres related to payroll expense:Turning for Home, Inc.(TFH) does not prepare or pay its own payroll. The payroll for its staff is paid for by a related entity. TFH reimburses that entity for the payroll expense all costs related to payroll. At that time TFH records those reimbursements as payroll and related expenses.Disclosures related to Schedule R:TFH receives a contribution from PTHA. TFH reimburses PTHA for payroll which PTHA pays employees working for TFH. TFH shares office space with PTHA. TFH does not compensate PTHA for the use of its office space and related expenses because PTHA does not pay for them. The use of the office space and related expenses are donated to PTHA by PARX Racing.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR 1ST VP
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IRS990/PayrollTaxesGrp/TotalAmt05967
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IRS990/PrincipalOfficerNm0SALVAORE M DEBUNDA ESQUIRE
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IRS990/RevenueAmt0552160
IRS990ScheduleA/CommunityTrustInd0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0552160
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0415295
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0371018
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02046929
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IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0899
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0390
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0436
IRS990ScheduleA/PublicSupportCY170Pct00.75870
IRS990ScheduleA/PublicSupportPY170Pct00.76000
IRS990ScheduleA/PublicSupportTotal170Amt01553984
IRS990ScheduleA/SubstantialContributorsTotAmt0492945
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0371018
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IRS990ScheduleD/TotalRevenuePerForm990Amt0552160
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0552160
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0559090
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt016723
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0TFH DAY
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0TABLE SALES
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt034996
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt013732
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IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt041615
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IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt04527
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt054000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt019455
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt05858
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MICHAEL P BALLEZZI ESQUIRE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0367439
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The president and the Executive director review the Form 990 with the controller before filing. Eventually either before filing or after filing every director is provided the opportunity to review a complete copy of the 990 and ask any questions he or she may have. A board member can request to see the form 990 as frequently as he or she wants and can obtain a copy from the IRS and PA Charities websites or by request from those sources.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board adopted a conflict of interest policy in 2012 and the Executive director and Secretary are on site most of their working time and are aware of most of the vendors and the members the entity does business with on a regular basis.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Turning for Home, Inc.s (TFH) staff is on the payroll of the parent company (PTHA). TFH reimburses the parent company for all costs related to its staff. Included in the staff are the executive director, the secretary, the controller and office staff persons. The office staff are allocated 100% to TFH and the others are allocated on estimates of time spent working on TFH activities. The Board and oversight of PTHA and TFH are the same.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Information is available by the public from the IRS since it is a charity and the public may request the information from the company. The information is also available from the PA Charities division.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Disclousres related to payroll expense:Turning for Home, Inc.(TFH) does not prepare or pay its own payroll. The payroll for its staff is paid for by a related entity. TFH reimburses that entity for the payroll expense all costs related to payroll. At that time TFH records those reimbursements as payroll and related expenses.Disclosures related to Schedule R:TFH receives a contribution from PTHA. TFH reimburses PTHA for payroll which PTHA pays employees working for TFH. TFH shares office space with PTHA. TFH does not compensate PTHA for the use of its office space and related expenses because PTHA does not pay for them. The use of the office space and related expenses are donated to PTHA by PARX Racing.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4General explanation attachment
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0true
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd0true
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0PTHA PARENT OF HPA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0232827432
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C Corp
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct00.00000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0Sells horse products to members
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0Horsemen Purchasing Assoc Inc
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0PO Box 300
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0Bensalem
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0PA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd019020
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0PA THOROUGHBRED HORSEMENS ASSOC INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0232694644
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C6
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PROMOTE RACING IN PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0P O BOX 300
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BENSALEM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0PA
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0true
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0true
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0100090
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt187360

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