Civic Intelligence

Illinois Thorougbred Breeders and Owners Foundation

EIN 37-1011054 • 501(c)6 • Lyons, IL

Profile

Promotion of illinois bred/foaled thoroughbred horse ownership and racing in illinois

PO Box 7Lyons, IL 60534

www.itbof.net

Siviq Scores

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

Liabilities / Assets

61st percentile

0.02x

Higher debt load relative to assets than 61% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

76th percentile

0.09x

Higher debt load relative to revenue than 76% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2024

Net Margin

93rd percentile

41%

Higher net margin than 93% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2024

Top Officer Pay

80th percentile

$10,347

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 22.0% of source-year revenue.

501(c)6 • <$500k nonprofits • Source year 2024

Asset Growth

34th percentile

-12%

Faster asset growth than 34% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

20th percentile

-29%

Faster revenue growth than 20% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets61st percentile

Assets

Down

$220,746

Down $31,036 (-12%) from 2023

Liabilities

Down

$4,005

Down $48,998 (-92%) from 2023

Net Assets

Up

$216,741

Up $17,962 (+9.0%) from 2023

Operations
Liabilities / Revenue76th percentileNet Margin93rd percentile

Revenue

Down

$47,067

Down $19,099 (-29%) from 2023

Expenses

Up

$27,621

Up $18,605 (+206%) from 2023

Net Income

Down

$19,446

Down $37,704 (-66%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth34th percentile

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

$800K$600K$400K$200K$0Assets 2011: $557,785Liabilities 2011: $439,048Net Assets 2011: $118,7372011Assets 2012: $599,085Liabilities 2012: $395,693Net Assets 2012: $203,3922012Assets 2013: $690,121Liabilities 2013: $456,689Net Assets 2013: $233,4322013Assets 2014: $629,470Liabilities 2014: $411,058Net Assets 2014: $218,4122014Assets 2015: $583,185Liabilities 2015: $359,689Net Assets 2015: $223,4962015Assets 2016: $494,445Liabilities 2016: $322,678Net Assets 2016: $171,7672016Assets 2017: $374,845Liabilities 2017: $244,177Net Assets 2017: $130,6682017Assets 2018: $352,359Liabilities 2018: $242,335Net Assets 2018: $110,0242018Assets 2019: $258,228Liabilities 2019: $148,481Net Assets 2019: $109,7472019Assets 2020: $252,675Liabilities 2020: $140,976Net Assets 2020: $111,6992020Assets 2021: $288,556Liabilities 2021: $171,213Net Assets 2021: $117,3432021Assets 2022: $316,192Liabilities 2022: $174,563Net Assets 2022: $141,6292022Assets 2023: $251,782Liabilities 2023: $53,003Net Assets 2023: $198,7792023Assets 2024: $220,746Liabilities 2024: $4,005Net Assets 2024: $216,7412024

Highlighted filing

2024

Assets$220,746
Liabilities$4,005
Net Assets$216,741
Open 2024 Filing

Operations Trend

Revenue Growth20th percentile

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

$300K$200K$100K$0-$100KExpenses 2011: $166,8812011Expenses 2012: $164,6522012Revenue 2013: $229,247Expenses 2013: $199,207Net Income 2013: $30,0402013Revenue 2014: $195,127Expenses 2014: $210,147Net Income 2014: -$15,0202014Revenue 2015: $189,954Expenses 2015: $184,870Net Income 2015: $5,0842015Revenue 2016: $152,202Expenses 2016: $203,931Net Income 2016: -$51,7292016Revenue 2017: $99,442Expenses 2017: $140,179Net Income 2017: -$40,7372017Revenue 2018: $90,793Expenses 2018: $111,437Net Income 2018: -$20,6442018Revenue 2019: $81,611Expenses 2019: $81,888Net Income 2019: -$2772019Revenue 2020: $60,473Expenses 2020: $58,521Net Income 2020: $1,9522020Revenue 2021: $76,403Expenses 2021: $70,759Net Income 2021: $5,6442021Revenue 2022: $71,734Expenses 2022: $47,448Net Income 2022: $24,2862022Revenue 2023: $66,166Expenses 2023: $9,016Net Income 2023: $57,1502023Revenue 2024: $47,067Expenses 2024: $27,621Net Income 2024: $19,4462024

Highlighted filing

2024

Revenue$47,067
Expenses$27,621
Net Income$19,446
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$220,746
Liabilities
$4,005
Net assets
$216,741
Revenue
$47,067
Expenses
$27,621
Net income
$19,446
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.21$0.04$2.17$0.47$0.28$0.19
2023Detailed filing. Detailed filing data is available for this year.$2.52$0.53$1.99$0.66$0.09$0.57
2022Detailed filing. Detailed filing data is available for this year.$3.16$1.75$1.42$0.72$0.47$0.24
2021Detailed filing. Detailed filing data is available for this year.$2.89$1.71$1.17$0.76$0.71$0.06
2020Detailed filing. Detailed filing data is available for this year.$2.53$1.41$1.12$0.60$0.59$0.02
2019Detailed filing. Detailed filing data is available for this year.$2.58$1.48$1.10$0.82$0.82$0.00
2018Detailed filing. Detailed filing data is available for this year.$3.52$2.42$1.10$0.91$1.11$0.21
2017Detailed filing. Detailed filing data is available for this year.$3.75$2.44$1.31$0.99$1.40$0.41
2016Detailed filing. Detailed filing data is available for this year.$4.94$3.23$1.72$1.52$2.04$0.52
2015Detailed filing. Detailed filing data is available for this year.$5.83$3.60$2.23$1.90$1.85$0.05
2014Detailed filing. Detailed filing data is available for this year.$6.29$4.11$2.18$1.95$2.10$0.15
2013Detailed filing. Detailed filing data is available for this year.$6.90$4.57$2.33$2.29$1.99$0.30
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.99$3.96$2.03$1.65
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.58$4.39$1.19$1.67
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 5, 2025
Return Version
2024v5.2
Gross Receipts
$47,067
Mission and Program Overview

Mission

Promotion of illinois bred/foaled thoroughbred horse ownership and racing in illinois.

To promote the breeding, owning, and racing of thoroughbred horses in Illinois.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$215,701--
Investments in Publicly Traded Securities-$105,549-
Cash and Non-Interest-Bearing Accounts$34,173$96,160▲ $61,987
Accounts Receivable-$19,037-
Prepaid Expenses and Deferred Charges$1,908--
Total Assets$251,782$220,746▼ $31,036
Liabilities
Other Liabilities$34,573--
Accounts Payable and Accrued Expenses$18,330$4,005▼ $14,325
Deferred Revenue$100--
Total Liabilities$53,003$4,005▼ $48,998
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$198,779$216,741▲ $17,962
Total Net Assets Fund Balance$198,779$216,741▲ $17,962
Total Liabilities and Net Assets / Fund Balance$251,782$220,746▼ $31,036

Asset Categories

AssetBook ValueDepreciationBasis
Buildings-$99,941$99,941
Equipment-$6,873$6,873
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Janice ElyTreasurerPT$10,347$10,347

Board Members and Trustees

NameTitle
David BrownPresident
Drew CoontzVice President
Chris BlockDirector
Diana HollandDirector
Jackie KingDirector
Joe KirbyDirector
Liz KuhnDirector
Shellye EssenpreisDirector
Terry YoungDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$4,821
Program Service Revenue
$37,889
Investment Income
$4,357
Other Revenue
$0
Change in Net Assets
$19,446
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$27,621
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
Office Expenses$8,326$5,550-$13,876
Insurance-$4,077-$4,077
Information Technology$2,129$376-$2,505
All Other Expenses-$2,036-$2,036
Other Expenses-$922-$922
Advertising-$424-$424
Total Functional Expenses$10,455$17,166$0$27,621
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
In-house lobbying only
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
No
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 governing body review Part VI line 11

“The Board of Directors are provided with a copy of the Form 990 for their review and approval prior to filing.”

Conflict of interest policy compliance Part VI line 12C

“The Organization is not aware of any relationships that could potentially cause a conflict of interest scenario to occur and any new relationships are reviewed by management as to whether or not they require additional disclosure.”

CEO executive director top management comp Part VI line 15A

“The Board of Directors determine the salary for the management based on the complexity of the position.”

Governing documents etc available to public Part VI line 19

“The Organization makes its governing documents, conflict of interest policy, financial statements, and Form 990 available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Illinois Thoroughbred Breeders and Owners Foundati
EIN
37-1011054
In Care Of
% David Brown
Phone
8472533670
Address
PO Box 7, Lyons, IL 60534

Signing Officer

Name
David Brown
Title
Board Member
Phone
8472533670
Signed
2025-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Brown
Formed
1947
Legal Domicile
Il
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

Firm
Bean Accounting & Tax PLLC
Address
PO Box 157, Morton Grove, IL 60053
Preparer
Darwin Mintu
Phone
8472223457
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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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IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/BuildingsGrp/DepreciationAmt099941
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt099941
IRS990ScheduleD/EquipmentGrp/DepreciationAmt06873
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06873
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Board of Directors are provided with a copy of the Form 990 for their review and approval prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Organization is not aware of any relationships that could potentially cause a conflict of interest scenario to occur and any new relationships are reviewed by management as to whether or not they require additional disclosure.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board of Directors determine the salary for the management based on the complexity of the position.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization makes its governing documents, conflict of interest policy, financial statements, and Form 990 available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0251782
IRS990/TotalAssetsEOYAmt0220746
IRS990/TotalAssetsGrp/BOYAmt0251782
IRS990/TotalAssetsGrp/EOYAmt0220746
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt04821
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017166
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt010455
IRS990/TotalFunctionalExpensesGrp/TotalAmt027621
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt053003
IRS990/TotalLiabilitiesEOYAmt04005
IRS990/TotalLiabilitiesGrp/BOYAmt053003
IRS990/TotalLiabilitiesGrp/EOYAmt04005
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0198779
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0216741
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt010455
IRS990/TotalProgramServiceRevenueAmt037889
IRS990/TotalReportableCompFromOrgAmt010347
IRS990/TotalRevenueGrp/ExclusionAmt04357
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt037889
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt047067
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0251782
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0220746
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 7
IRS990/USAddress/CityNm0Lyons
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060534
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0www.itbof.net
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID BROWN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Member
ReturnHeader/BusinessOfficerGrp/PhoneNum08472533670
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Illinois Thoroughbred Breeders and Owners Foundati
ReturnHeader/Filer/BusinessNameControlTxt0ILLI
ReturnHeader/Filer/EIN0371011054
ReturnHeader/Filer/InCareOfNm0% David Brown
ReturnHeader/Filer/PhoneNum08472533670
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 7
ReturnHeader/Filer/USAddress/CityNm0Lyons
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060534
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0932466004
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Bean Accounting & Tax PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO Box 157
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Morton Grove
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060053
ReturnHeader/PreparerPersonGrp/PhoneNum08472223457
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DARWIN MINTU
ReturnHeader/ReturnTs02025-11-13T22:44:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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