Civic Intelligence

Illinois Thorougbred Breeders and Owners Foundation

990 • Fiscal year 2017 • EIN 37-1011054

Jan 01, 2017 to Dec 31, 2017 • Filed on Jul 26, 2018

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

94th percentile

0.65x

Higher debt load relative to assets than 94% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

2.46x

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

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Net Margin

6th percentile

-41%

Higher net margin than 6% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Top Officer Pay

81st percentile

$36,000

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 36.2% of source-year revenue.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Asset Growth

14th percentile

-24%

Faster asset growth than 14% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

9th percentile

-35%

Faster revenue growth than 9% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$374,845

Down $119,600 (-24%) from 2016

Net Assets

Down

$130,668

Down $41,099 (-24%) from 2016

Liabilities

Down

$244,177

Down $78,501 (-24%) from 2016

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin6th percentile

Revenue

Down

$99,442

Down $52,760 (-35%) from 2016

Expenses

Down

$140,179

Down $63,752 (-31%) from 2016

Net Income

Up

-$40,737

Up $10,992 (+21%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth14th 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

2017

Assets$374,845
Liabilities$244,177
Net Assets$130,668
Open 2017 Filing

Operations Trend

Revenue Growth9th 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

2017

Revenue$99,442
Expenses$140,179
Net Income-$40,737
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jul 26, 2018
Return Version
2017v2.3
Gross Receipts
$99,442
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$275,590$225,553▼ $50,037
Accounts Receivable$211,675$139,550▼ $72,125
Prepaid Expenses and Deferred Charges$3,496$6,025▲ $2,529
Land, Buildings, and Equipment, Net$3,271$3,666▲ $395
Cash and Non-Interest-Bearing Accounts$51$51→ $0
Total Assets$494,083$374,845▼ $119,238
Liabilities
Accounts Payable and Accrued Expenses$317,278$235,331▼ $81,947
Other Liabilities-$4,596-
Deferred Revenue$5,400$4,250▼ $1,150
Total Liabilities$322,678$244,177▼ $78,501
Net Assets / Fund Balance
Unrestricted Net Assets$121,562$80,525▼ $41,037
Temporarily Rstr Net Assets$49,843$50,143▲ $300
Total Net Assets Fund Balance$171,405$130,668▼ $40,737
Total Liabilities and Net Assets / Fund Balance$494,083$374,845▼ $119,238

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,067$97,874$99,941
Other Land Buildings$1,599$4,523$6,122
Equipment-$752$752
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Daniel ArrigoTreasurerFT$36,000$36,000

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$14,212
Program Service Revenue
$85,064
Investment Income
$166
Other Revenue
$0
All Other Contributions
$12
Change in Net Assets
$-40,737

Audited Revenue Reconciliation

Revenue per Audited Statements
$99,442
Total Revenue per Audited Statements
$99,442
Total Revenue per Form 990
$99,442
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$101,312
Salaries, Compensation, and Employee Benefits$38,867
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$30,600$5,400-$36,000
Office Expenses$7,280$1,692-$8,972
Insurance-$5,995-$5,995
Fees for Services Accounting$5,000$750-$5,750
Other Expenses$4,643$871-$4,643
All Other Expenses$3,108$1,219-$4,327
Information Technology$3,567--$3,567
Payroll Taxes$2,437$430-$2,867
Travel$1,269$1,269-$2,538
Depreciation Depletion$1,397--$1,397
Advertising$527--$527
Total Functional Expenses$122,553$17,626$0$140,179

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$140,179
Total Expenses per Audited Statements$140,179
Total Expenses per Form 990$140,179
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Taxes$4,296
Prepaid Membership$300
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
Daniel Arrigo
Title
Treasurer
Phone
8472533670
Signed
2018-07-26
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
5

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 AppendixShowing 400 of 410 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/PrepaidExpensesDefrdChargesGrp/BOYAmt03496
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt06025
IRS990/PrincipalOfficerNm0JOHN HARAN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0PROMOTING THOROUBRED RACING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt085064
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt085064
IRS990/ProgSrvcAccomActyOtherGrp/Desc0FOR THE PROMOTION OF ILLINOIS BRED/FOALED THOROUGHBRED HORSE RACING IN ILLINOIS.
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IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt018307
IRS990/PYInvestmentIncomeAmt0221
IRS990/PYOtherExpensesAmt0164319
IRS990/PYProgramServiceRevenueAmt0133674
IRS990/PYRevenuesLessExpensesAmt0-51729
IRS990/PYSalariesCompEmpBnftPaidAmt039612
IRS990/PYTotalExpensesAmt0203931
IRS990/PYTotalRevenueAmt0152202
IRS990/ReconcilationRevenueExpnssAmt0-40737
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt085064
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0275590
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0225553
IRS990/ScheduleBRequiredInd0false
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IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt02067
IRS990ScheduleD/BuildingsGrp/DepreciationAmt097874
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt099941
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0752
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0752
IRS990ScheduleD/ExpensesSubtotalAmt0140179
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01599
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04523
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt06122
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04296
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1300
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID MEMBERSHIP
IRS990ScheduleD/RevenueSubtotalAmt099442
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03666
IRS990ScheduleD/TotalExpensesPerForm990Amt0140179
IRS990ScheduleD/TotalLiabilityAmt04596
IRS990ScheduleD/TotalRevenuePerForm990Amt099442
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt099442
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0140179
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/BOYAmt049843
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt050143
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0494083
IRS990/TotalAssetsEOYAmt0374845
IRS990/TotalAssetsGrp/BOYAmt0494083
IRS990/TotalAssetsGrp/EOYAmt0374845
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt014212
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017626
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0122553
IRS990/TotalFunctionalExpensesGrp/TotalAmt0140179
IRS990/TotalGrossUBIAmt0166
IRS990/TotalLiabilitiesBOYAmt0322678
IRS990/TotalLiabilitiesEOYAmt0244177
IRS990/TotalLiabilitiesGrp/BOYAmt0322678
IRS990/TotalLiabilitiesGrp/EOYAmt0244177
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0171405
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0130668
IRS990/TotalOtherProgSrvcExpenseAmt0209
IRS990/TotalProgramServiceExpensesAmt0122553
IRS990/TotalProgramServiceRevenueAmt085064
IRS990/TotalReportableCompFromOrgAmt036000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt085064
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt099442
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0166
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0494083
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0374845
IRS990/TravelGrp/ManagementAndGeneralAmt01269
IRS990/TravelGrp/ProgramServicesAmt01269
IRS990/TravelGrp/TotalAmt02538
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0121562
IRS990/UnrestrictedNetAssetsGrp/EOYAmt080525
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/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DANIEL ARRIGO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08472533670
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-07-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ILLINOIS THOROUGBRED BREEDERS AND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0OWNERS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0ILLI
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ReturnHeader/Filer/PhoneNum08472533670
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 578
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02018-08-03
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm011:57:10
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0363525259
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CATALANO CABOOR & CO LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0101 W 22 ND ST STE 207
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOMBARD

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$374,845
Liabilities
$244,177
Net assets
$130,668
Revenue
$99,442
Expenses
$140,179
Net income
-$40,737
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