Civic Intelligence

Illinois Thorougbred Breeders and Owners Foundation

990 • Fiscal year 2016 • EIN 37-1011054

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 16, 2017

Organization ProfileWWW.ITBOF.NET
PO Box 578Arlington Heights, IL 60006

(847) 253-3670

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.65x

Higher debt load relative to assets than 93% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

99th percentile

2.12x

Higher debt load relative to revenue than 99% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Net Margin

8th percentile

-34%

Higher net margin than 8% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Top Officer Pay

69th percentile

$0

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Asset Growth

20th percentile

-15%

Faster asset growth than 20% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

17th percentile

-20%

Faster revenue growth than 17% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$494,445

Down $88,740 (-15%) from 2015

Net Assets

Down

$171,767

Down $51,729 (-23%) from 2015

Liabilities

Down

$322,678

Down $37,011 (-10%) from 2015

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin8th percentile

Revenue

Down

$152,202

Down $37,752 (-20%) from 2015

Expenses

Up

$203,931

Up $19,061 (+10%) from 2015

Net Income

Down

-$51,729

Down $56,813 (-1117%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

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

$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

2016

Assets$494,445
Liabilities$322,678
Net Assets$171,767
Open 2016 Filing

Operations Trend

Revenue Growth17th percentile

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

2016

Revenue$152,202
Expenses$203,931
Net Income-$51,729
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 16, 2017
Return Version
2016v3.0
Gross Receipts
$152,202
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 thoroubred horses in illinois.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$319,049$275,952▼ $43,097
Accounts Receivable$253,993$211,675▼ $42,318
Prepaid Expenses and Deferred Charges$4,587$3,496▼ $1,091
Land, Buildings, and Equipment, Net$5,505$3,271▼ $2,234
Cash and Non-Interest-Bearing Accounts$51$51→ $0
Total Assets$583,185$494,445▼ $88,740
Liabilities
Accounts Payable and Accrued Expenses$348,289$317,278▼ $31,011
Deferred Revenue$11,400$5,400▼ $6,000
Total Liabilities$359,689$322,678▼ $37,011
Net Assets / Fund Balance
Unrestricted Net Assets$172,962$121,924▼ $51,038
Temporarily Rstr Net Assets$50,534$49,843▼ $691
Total Net Assets Fund Balance$223,496$171,767▼ $51,729
Total Liabilities and Net Assets / Fund Balance$583,185$494,445▼ $88,740

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,633$97,308$99,941
Equipment-$20,108$20,108
Other Land Buildings$638$14,091$14,729
Compensation and Service Providers
Top Officer Pay69th percentile

Board Members and Trustees

NameTitle
John HaranPresident
Daniel SullivanDirector
Frank KirbyDirector
Joe CarperDirector
John SmithDirector
Melissa WilliamsDirector
Steven LewisDirector
Thomas FitchDirector
Tom SwearingenDirector
David Nobbe1st Vice Pre
Janet Hartwig2nd Vice Pre
Gail RadkeSecretary
Daniel ArrigoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$18,307
Program Service Revenue
$133,674
Investment Income
$221
Other Revenue
$0
All Other Contributions
$407
Change in Net Assets
$-51,729

Audited Revenue Reconciliation

Revenue per Audited Statements
$152,202
Total Revenue per Audited Statements
$152,202
Total Revenue per Form 990
$152,202
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$164,319
Salaries, Compensation, and Employee Benefits$39,612
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Lobbying$42,000--$42,000
Other Salaries and Wages$31,188$5,504-$36,692
Office Expenses$10,149$1,353-$11,502
All Other Expenses$8,358$1,999-$10,357
Insurance-$7,186-$7,186
Other Expenses$6,658$1,706-$6,658
Fees for Services Accounting$5,000$750-$5,750
Information Technology$3,099--$3,099
Payroll Taxes$2,482$438-$2,920
Fees for Services Legal-$2,543-$2,543
Depreciation Depletion$2,234--$2,234
Travel$1,042$1,041-$2,083
Advertising$1,755--$1,755
Total Functional Expenses$181,411$22,520$0$203,931

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$203,931
Total Expenses per Audited Statements$203,931
Total Expenses per Form 990$203,931
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
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
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, Page 6, Part VI, Line 11B

“A copy of form 990 is emailed to all members of the governing board for review prior to the return by filed.”

Form 990, Page 6, Part VI, Line 15A

“Compensation for manager/director is approved by the governing board.”

Form 990, Page 6, Part VI, Line 19

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

Filing and Contact Details

Filer

Filer Name
Illinois Thorougbred Breeders and
EIN
37-1011054
Phone
8472533670
Address
PO BOX 578, ARLINGTON HEIGHTS, IL 60006

Signing Officer

Name
John Haran
Title
President
Phone
8472533670
Signed
2017-08-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Haran
Formed
1947
Legal Domicile
Il
Voting Board Members
14
Independent Board Members
14
Employees
1
Volunteers
10

Preparer

Firm
Catalano Caboor & Co Ltd
Address
101 W 22 ND ST STE 207, LOMBARD, IL 60148
Preparer
David L Johnson
Phone
6302610550
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Assist with organization functions and special events.”

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

“For the promotion of illinois bred/foaled thoroughbred horse racing in illinois.”

Raw XML Appendix392 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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IRS990/ProgSrvcAccomActyOtherGrp/Desc0FOR THE PROMOTION OF ILLINOIS BRED/FOALED THOROUGHBRED HORSE RACING IN ILLINOIS.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt021380
IRS990/PYInvestmentIncomeAmt0340
IRS990/PYOtherExpensesAmt0145374
IRS990/PYProgramServiceRevenueAmt0168234
IRS990/PYRevenuesLessExpensesAmt05084
IRS990/PYSalariesCompEmpBnftPaidAmt039496
IRS990/PYTotalExpensesAmt0184870
IRS990/PYTotalRevenueAmt0189954
IRS990/ReconcilationRevenueExpnssAmt0-51729
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0133674
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0319049
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0275952
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt02633
IRS990ScheduleD/BuildingsGrp/DepreciationAmt097308
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt099941
IRS990ScheduleD/EquipmentGrp/DepreciationAmt020108
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt020108
IRS990ScheduleD/ExpensesSubtotalAmt0203931
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0638
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt014091
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt014729
IRS990ScheduleD/RevenueSubtotalAmt0152202
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03271
IRS990ScheduleD/TotalExpensesPerForm990Amt0203931
IRS990ScheduleD/TotalRevenuePerForm990Amt0152202
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0152202
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0203931
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ASSIST WITH ORGANIZATION FUNCTIONS AND SPECIAL EVENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FOR THE PROMOTION OF ILLINOIS BRED/FOALED THOROUGHBRED HORSE RACING IN ILLINOIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF FORM 990 IS EMAILED TO ALL MEMBERS OF THE GOVERNING BOARD FOR REVIEW PRIOR TO THE RETURN BY FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION FOR MANAGER/DIRECTOR IS APPROVED BY THE GOVERNING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToProxyTaxInd0true
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt050534
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt049843
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0583185
IRS990/TotalAssetsEOYAmt0494445
IRS990/TotalAssetsGrp/BOYAmt0583185
IRS990/TotalAssetsGrp/EOYAmt0494445
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt018307
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt022520
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0181411
IRS990/TotalFunctionalExpensesGrp/TotalAmt0203931
IRS990/TotalGrossUBIAmt0221
IRS990/TotalLiabilitiesBOYAmt0359689
IRS990/TotalLiabilitiesEOYAmt0322678
IRS990/TotalLiabilitiesGrp/BOYAmt0359689
IRS990/TotalLiabilitiesGrp/EOYAmt0322678
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0223496
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0171767
IRS990/TotalProgramServiceExpensesAmt0181411
IRS990/TotalProgramServiceRevenueAmt0133674
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0133674
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0152202
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0221
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0583185
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0494445
IRS990/TravelGrp/ManagementAndGeneralAmt01041
IRS990/TravelGrp/ProgramServicesAmt01042
IRS990/TravelGrp/TotalAmt02083
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0172962
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0121924
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08250 OFFNER ROAD
IRS990/USAddress/CityNm0PEOTONE
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060010
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0WWW.ITBOF.NET
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN HARAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08472533670
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-08-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ILLINOIS THOROUGBRED BREEDERS AND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0OWNERS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0ILLI
ReturnHeader/Filer/EIN0371011054
ReturnHeader/Filer/PhoneNum08472533670
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 578
ReturnHeader/Filer/USAddress/CityNm0ARLINGTON HEIGHTS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060006
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId00CA194CBC5E2A2BBF6CDC2BB91C36F06C0C9087E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0648C8AD4B4919CE9EA9754D96F8D5D1D695341EB
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0363525259
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CATALANO CABOOR & CO LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0101 W 22 ND ST STE 207
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOMBARD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060148
ReturnHeader/PreparerPersonGrp/PhoneNum06302610550
ReturnHeader/PreparerPersonGrp/PreparationDt02017-08-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID L JOHNSON
ReturnHeader/ReturnTs02017-08-23T11:29:55-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$494,445
Liabilities
$322,678
Net assets
$171,767
Revenue
$152,202
Expenses
$203,931
Net income
-$51,729
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