Civic Intelligence

Illinois Thorougbred Breeders and Owners Foundation

990 • Fiscal year 2019 • EIN 37-1011054

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 09, 2020

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

0.57x

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

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

99th percentile

1.82x

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

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Net Margin

41st percentile

-0.3%

Higher net margin than 41% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Top Officer Pay

71st percentile

$0

Higher top officer pay than 71% of similar nonprofits.

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

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Asset Growth

13th percentile

-27%

Faster asset growth than 13% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

28th percentile

-10%

Faster revenue growth than 28% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$258,228

Down $94,131 (-27%) from 2018

Net Assets

Down

$109,747

Down $277 (-0.3%) from 2018

Liabilities

Down

$148,481

Down $93,854 (-39%) from 2018

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin41st percentile

Revenue

Down

$81,611

Down $9,182 (-10%) from 2018

Expenses

Down

$81,888

Down $29,549 (-27%) from 2018

Net Income

Up

-$277

Up $20,367 (+99%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth13th 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

2019

Assets$258,228
Liabilities$148,481
Net Assets$109,747
Open 2019 Filing

Operations Trend

Revenue Growth28th 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

2019

Revenue$81,611
Expenses$81,888
Net Income-$277
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 9, 2020
Return Version
2019v5.0
Gross Receipts
$81,611
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$196,929$157,883▼ $39,046
Accounts Receivable$150,431$96,248▼ $54,183
Prepaid Expenses and Deferred Charges$2,223$2,248▲ $25
Land, Buildings, and Equipment, Net$2,725$1,798▼ $927
Cash and Non-Interest-Bearing Accounts$51$51→ $0
Total Assets$352,359$258,228▼ $94,131
Liabilities
Accounts Payable and Accrued Expenses$237,657$138,417▼ $99,240
Deferred Revenue$900$6,050▲ $5,150
Other Liabilities$3,778$4,014▲ $236
Total Liabilities$242,335$148,481▼ $93,854
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$66,747$66,470▼ $277
Net Assets With Donor Restrictions$43,277$43,277→ $0
Total Net Assets Fund Balance$110,024$109,747▼ $277
Total Liabilities and Net Assets / Fund Balance$352,359$258,228▼ $94,131

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$933$99,008$99,941
Other Land Buildings$865$5,257$6,122
Equipment-$752$752
Compensation and Service Providers
Top Officer Pay71st percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$13,250
Program Service Revenue
$68,222
Investment Income
$139
Other Revenue
$0
Change in Net Assets
$-277

Audited Revenue Reconciliation

Revenue per Audited Statements
$81,611
Total Revenue per Audited Statements
$81,611
Total Revenue per Form 990
$81,611
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$43,030
Salaries, Compensation, and Employee Benefits$38,858
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$30,600$5,400-$36,000
Office Expenses$7,688$2,180-$9,868
Insurance-$5,932-$5,932
Fees for Services Accounting$5,000$750-$5,750
Payroll Taxes$2,429$429-$2,858
All Other Expenses$1,377$685-$2,062
Other Expenses$1,716--$1,716
Depreciation Depletion$927--$927
Information Technology$795--$795
Travel$153$152-$305
Total Functional Expenses$66,360$15,528$0$81,888

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$81,888
Total Expenses per Audited Statements$81,888
Total Expenses per Form 990$81,888
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
Sales Tax$2,457
Payroll Taxes$887
Insurance Contract$670
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 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, 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
2020-09-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Haran
Formed
1947
Legal Domicile
Il
Voting Board Members
15
Independent Board Members
15
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 416 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/OtherSalariesAndWagesGrp/TotalAmt036000
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IRS990/PayrollTaxesGrp/ProgramServicesAmt02429
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02223
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0FOR THE PROMOTION OF ILLINOIS BRED/FOALED THOROUGHBRED HORSE RACING IN ILLINOIS.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0360
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt013340
IRS990/PYInvestmentIncomeAmt0137
IRS990/PYOtherExpensesAmt072573
IRS990/PYProgramServiceRevenueAmt077316
IRS990/PYRevenuesLessExpensesAmt0-20644
IRS990/PYSalariesCompEmpBnftPaidAmt038864
IRS990/PYTotalExpensesAmt0111437
IRS990/PYTotalRevenueAmt090793
IRS990/ReconcilationRevenueExpnssAmt0-277
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IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
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IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0933
IRS990ScheduleD/BuildingsGrp/DepreciationAmt099008
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt099941
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0752
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0752
IRS990ScheduleD/ExpensesSubtotalAmt081888
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0865
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt06122
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1887
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2670
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SALES TAX
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL TAXES
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt01798
IRS990ScheduleD/TotalExpensesPerForm990Amt081888
IRS990ScheduleD/TotalLiabilityAmt04014
IRS990ScheduleD/TotalRevenuePerForm990Amt081611
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt081611
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt081888
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
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0258228
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IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt066360
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IRS990/TotalGrossUBIAmt0139
IRS990/TotalLiabilitiesBOYAmt0242335
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IRS990/TotalLiabilitiesGrp/BOYAmt0242335
IRS990/TotalLiabilitiesGrp/EOYAmt0148481
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0110024
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0109747
IRS990/TotalOtherProgSrvcExpenseAmt0360
IRS990/TotalProgramServiceExpensesAmt066360
IRS990/TotalProgramServiceRevenueAmt068222
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt068222
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt081611
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0139
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0352359
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0258228
IRS990/TravelGrp/ManagementAndGeneralAmt0152
IRS990/TravelGrp/ProgramServicesAmt0153
IRS990/TravelGrp/TotalAmt0305
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08250 OFFNER ROAD
IRS990/USAddress/CityNm0PEOTONE
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060010
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0WWW.ITBOF.NET
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DANIEL ARRIGO
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ReturnHeader/BusinessOfficerGrp/PhoneNum08472533670
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-09-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ILLINOIS THOROUGBRED BREEDERS AND
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ReturnHeader/Filer/PhoneNum08472533670
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ReturnHeader/FilingSecurityInformation/IPDt02020-09-15

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$258,228
Liabilities
$148,481
Net assets
$109,747
Revenue
$81,611
Expenses
$81,888
Net income
-$277
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