Civic Intelligence

Illinois Thoroughbred Horsemen'S Assoc Thoroughbred Rescue Fund Inc

990 • Fiscal year 2024 • EIN 27-2959198

Jan 01, 2024 to Dec 31, 2024 • Filed on Jan 30, 2025

Organization ProfileGALLOPINGOUT.ORG
7301 West 25th Street Suite 321North Riverside, IL 60546

(708) 652-2201

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$346,505

Down $13,914 (-3.9%) from 2023

Net Assets

Down

$346,505

Down $13,642 (-3.8%) from 2023

Liabilities

Down

$0

Down $272 (-100%) from 2023

Revenue And Expenses

Revenue

Up

$216,926

Up $1,014 (+0.5%) from 2023

Expenses

Up

$230,568

Up $52,410 (+29%) from 2023

Net Income

Down

-$13,642

Down $51,396 (-136%) from 2023

Historical Trend

Balance Sheet Trend

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

$400K$300K$200K$100K$0Assets 2011: $158,603Liabilities 2011: $0Net Assets 2011: $158,6032011Assets 2012: $146,664Net Assets 2012: $146,6642012Assets 2013: $191,985Liabilities 2013: $0Net Assets 2013: $191,9852013Assets 2014: $179,261Liabilities 2014: $800Net Assets 2014: $178,4612014Assets 2015: $160,877Liabilities 2015: $800Net Assets 2015: $160,0772015Assets 2016: $135,538Liabilities 2016: $800Net Assets 2016: $134,7382016Assets 2017: $168,103Liabilities 2017: $800Net Assets 2017: $167,3032017Assets 2018: $186,317Net Assets 2018: $186,3172018Assets 2019: $170,533Liabilities 2019: $176Net Assets 2019: $170,3572019Assets 2020: $218,171Liabilities 2020: $98Net Assets 2020: $218,0732020Assets 2021: $328,197Liabilities 2021: $293Net Assets 2021: $327,9042021Assets 2022: $323,495Liabilities 2022: $1,102Net Assets 2022: $322,3932022Assets 2023: $360,419Liabilities 2023: $272Net Assets 2023: $360,1472023Assets 2024: $346,505Liabilities 2024: $0Net Assets 2024: $346,5052024

Highlighted filing

2024

Assets$346,505
Liabilities$0
Net Assets$346,505
Open 2024 Filing

Operations Trend

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

$300K$200K$100K$0-$100KExpenses 2011: $168,0522011Revenue 2012: $145,099Expenses 2012: $157,038Net Income 2012: -$11,9392012Revenue 2013: $201,209Expenses 2013: $155,888Net Income 2013: $45,3212013Revenue 2014: $127,474Expenses 2014: $140,998Net Income 2014: -$13,5242014Revenue 2015: $100,318Expenses 2015: $118,702Net Income 2015: -$18,3842015Revenue 2016: $141,906Expenses 2016: $167,245Net Income 2016: -$25,3392016Revenue 2017: $165,836Expenses 2017: $133,271Net Income 2017: $32,5652017Revenue 2018: $173,164Expenses 2018: $154,150Net Income 2018: $19,0142018Revenue 2019: $144,638Expenses 2019: $160,598Net Income 2019: -$15,9602019Revenue 2020: $178,061Expenses 2020: $130,345Net Income 2020: $47,7162020Revenue 2021: $262,862Expenses 2021: $153,031Net Income 2021: $109,8312021Revenue 2022: $151,576Expenses 2022: $157,087Net Income 2022: -$5,5112022Revenue 2023: $215,912Expenses 2023: $178,158Net Income 2023: $37,7542023Revenue 2024: $216,926Expenses 2024: $230,568Net Income 2024: -$13,6422024

Highlighted filing

2024

Revenue$216,926
Expenses$230,568
Net Income-$13,642
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jan 30, 2025
Return Version
2024v5.0
Gross Receipts
$216,926
Mission and Program Overview

Mission

To provide assistance with the care, rehabilitation and placement of retired thoroughbred horses that raced in illinois.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$360,419$346,505▼ $13,914
Total Assets$360,419$346,505▼ $13,914
Liabilities
Other Liabilities$272--
Total Liabilities$272$0▼ $272
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$360,147$346,505▼ $13,642
Total Net Assets Fund Balance$360,147$346,505▼ $13,642
Total Liabilities and Net Assets / Fund Balance$360,419$346,505▼ $13,914
Compensation and Service Providers

Board Members and Trustees

NameTitle
Chris BlockPresident
Donna BeckerDirector
Michele BoyceDirector
Mickey GoldfineDirector
Steve HollandDirector
Neil PessinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$211,625
Program Service Revenue
$0
Investment Income
$5,301
Other Revenue
$0
All Other Contributions
$211,625
Change in Net Assets
$-13,642

Audited Revenue Reconciliation

Revenue per Audited Statements
$216,926
Total Revenue per Audited Statements
$216,926
Total Revenue per Form 990
$216,926
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$230,568
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$16,040-$16,040
All Other Expenses$8,663--$8,663
Other Expenses$6,285--$6,285
Advertising$1,810--$1,810
Office Expenses$1,197--$1,197
Total Functional Expenses$214,528$16,040$0$230,568

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$230,568
Total Expenses per Audited Statements$230,568
Total Expenses per Form 990$230,568
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
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The form 990 is prepared by the independent cpa and reviewed in detail with the executive director. The return is then presented to the members of the board; reviewed and discussed and a motion is then made to accept or reject the return.”

Form 990, Page 6, Part VI, Line 19

“Available during normal business hours”

Filing and Contact Details

Filer

Filer Name
Galloping Out
EIN
27-2959198
Phone
7086522201
Address
7301 WEST 25TH STREET SUITE 321, NORTH RIVERSIDE, IL 60546

Signing Officer

Name
David Mccaffrey
Title
Executive Director
Phone
7086522201
Signed
2025-01-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Mccaffrey
Formed
2010
Legal Domicile
Il
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Gegorek & Company Pa
Address
136 HEATHER DR, QUEENSTOWN, MD 21658-1194
Preparer
Craig S Gegorek
Phone
4108234040
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“To provide care and assistance in the placement of retired thoroughbred horses”

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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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IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotalProgramServiceExpensesAmt0214528
IRS990/TotalRevenueGrp/ExclusionAmt05301
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0216926
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0GALLOPINGOUT.ORG
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ReturnHeader/ReturnTs02025-02-24T17:14:20-05:00
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ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$346,505
Liabilities
$0
Net assets
$346,505
Revenue
$216,926
Expenses
$230,568
Net income
-$13,642
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.47$0.00$3.47$2.17$2.31$0.14
2023Detailed filing. Detailed filing data is available for this year.$3.60$0.00$3.60$2.16$1.78$0.38
2022Detailed filing. Detailed filing data is available for this year.$3.23$0.01$3.22$1.52$1.57$0.06
2021Detailed filing. Detailed filing data is available for this year.$3.28$0.00$3.28$2.63$1.53$1.10
2020Detailed filing. Detailed filing data is available for this year.$2.18$0.00$2.18$1.78$1.30$0.48
2019Detailed filing. Detailed filing data is available for this year.$1.71$0.00$1.70$1.45$1.61$0.16
2018Detailed filing. Detailed filing data is available for this year.$1.86$1.86$1.73$1.54$0.19
2017Detailed filing. Detailed filing data is available for this year.$1.68$0.01$1.67$1.66$1.33$0.33
2016Detailed filing. Detailed filing data is available for this year.$1.36$0.01$1.35$1.42$1.67$0.25
2015Detailed filing. Detailed filing data is available for this year.$1.61$0.01$1.60$1.00$1.19$0.18
2014Detailed filing. Detailed filing data is available for this year.$1.79$0.01$1.78$1.27$1.41$0.14
2013Detailed filing. Detailed filing data is available for this year.$1.92$0.00$1.92$2.01$1.56$0.45
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.47$1.47$1.45$1.57$0.12
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.59$0.00$1.59$1.68