Civic Intelligence

Illinois Thorougbred Breeders and Owners Foundation

990 • Fiscal year 2020 • EIN 37-1011054

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 16, 2021

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

92nd percentile

0.56x

Higher debt load relative to assets than 92% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

2.33x

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

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Net Margin

50th percentile

3.2%

Higher net margin than 50% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

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

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Asset Growth

40th percentile

-2.2%

Faster asset growth than 40% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

43rd percentile

-26%

Faster revenue growth than 43% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$252,675

Down $5,553 (-2.2%) from 2019

Net Assets

Up

$111,699

Up $1,952 (+1.8%) from 2019

Liabilities

Down

$140,976

Down $7,505 (-5.1%) from 2019

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin50th percentile

Revenue

Down

$60,473

Down $21,138 (-26%) from 2019

Expenses

Down

$58,521

Down $23,367 (-29%) from 2019

Net Income

Up

$1,952

Up $2,229 (+805%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth40th 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

2020

Assets$252,675
Liabilities$140,976
Net Assets$111,699
Open 2020 Filing

Operations Trend

Revenue Growth43rd 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

2020

Revenue$60,473
Expenses$58,521
Net Income$1,952
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 16, 2021
Return Version
2020v4.0
Gross Receipts
$60,473
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$157,883$156,813▼ $1,070
Accounts Receivable$96,248$92,760▼ $3,488
Prepaid Expenses and Deferred Charges$2,248$2,177▼ $71
Land, Buildings, and Equipment, Net$1,798$874▼ $924
Cash and Non-Interest-Bearing Accounts$51$51→ $0
Total Assets$258,228$252,675▼ $5,553
Liabilities
Accounts Payable and Accrued Expenses$138,417$134,739▼ $3,678
Other Liabilities$4,014$5,737▲ $1,723
Deferred Revenue$6,050$500▼ $5,550
Total Liabilities$148,481$140,976▼ $7,505
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$66,470$100,348▲ $33,878
Net Assets With Donor Restrictions$43,277$11,351▼ $31,926
Total Net Assets Fund Balance$109,747$111,699▲ $1,952
Total Liabilities and Net Assets / Fund Balance$258,228$252,675▼ $5,553

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$367$99,574$99,941
Other Land Buildings$507$5,615$6,122
Equipment-$752$752
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
John HaranPresident
Chris BlockDirector
Daniel SullivanDirector
David BrownDirector
Melissa WilliamsDirector
Michael RyanDirector
Steven LewisDirector
Terry YoungDirector
Thomas FitchDirector
Tom SwearingenDirector
David Nobbe1st Vice Pre
Janet Hartwig2nd Vice Pre
Shirley NessSecretary
Daniel ArrigoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$11,100
Program Service Revenue
$49,237
Investment Income
$136
Other Revenue
$0
Change in Net Assets
$1,952

Audited Revenue Reconciliation

Revenue per Audited Statements
$60,473
Total Revenue per Audited Statements
$60,473
Total Revenue per Form 990
$60,473
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$47,277
Salaries, Compensation, and Employee Benefits$11,244
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$10,337$1,371-$11,708
Other Salaries and Wages$8,827$1,558-$10,385
Insurance-$7,254-$7,254
Fees for Services Accounting$5,000$750-$5,750
All Other Expenses$647$439-$1,086
Other Expenses$843$149-$992
Depreciation Depletion$924--$924
Payroll Taxes$730$129-$859
Information Technology$615$165-$780
Total Functional Expenses$46,706$11,815$0$58,521

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$58,521
Total Expenses per Audited Statements$58,521
Total Expenses per Form 990$58,521
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$5,637
Prepaid Membership$100
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
John Haran
Title
President
Phone
8472533670
Signed
2021-09-16
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

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 Appendix399 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/BOYAmt02248
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02177
IRS990/PrincipalOfficerNm0JOHN HARAN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0PROMOTING THOROUBRED RACING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt049237
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt049237
IRS990/ProgSrvcAccomActyOtherGrp/Desc0FOR THE PROMOTION OF ILLINOIS BRED/FOALED THOROUGHBRED HORSE RACING IN ILLINOIS.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0358
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt013250
IRS990/PYInvestmentIncomeAmt0139
IRS990/PYOtherExpensesAmt043030
IRS990/PYProgramServiceRevenueAmt068222
IRS990/PYRevenuesLessExpensesAmt0-277
IRS990/PYSalariesCompEmpBnftPaidAmt038858
IRS990/PYTotalExpensesAmt081888
IRS990/PYTotalRevenueAmt081611
IRS990/ReconcilationRevenueExpnssAmt01952
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0157883
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0156813
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0367
IRS990ScheduleD/BuildingsGrp/DepreciationAmt099574
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt099941
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0752
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0752
IRS990ScheduleD/ExpensesSubtotalAmt058521
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0507
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt05615
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt06122
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05637
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1100
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SALES TAX
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID MEMBERSHIP
IRS990ScheduleD/RevenueSubtotalAmt060473
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0874
IRS990ScheduleD/TotalExpensesPerForm990Amt058521
IRS990ScheduleD/TotalLiabilityAmt05737
IRS990ScheduleD/TotalRevenuePerForm990Amt060473
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt060473
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt058521
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0258228
IRS990/TotalAssetsEOYAmt0252675
IRS990/TotalAssetsGrp/BOYAmt0258228
IRS990/TotalAssetsGrp/EOYAmt0252675
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt011100
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt011815
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt046706
IRS990/TotalFunctionalExpensesGrp/TotalAmt058521
IRS990/TotalGrossUBIAmt0136
IRS990/TotalLiabilitiesBOYAmt0148481
IRS990/TotalLiabilitiesEOYAmt0140976
IRS990/TotalLiabilitiesGrp/BOYAmt0148481
IRS990/TotalLiabilitiesGrp/EOYAmt0140976
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0109747
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0111699
IRS990/TotalOtherProgSrvcExpenseAmt0358
IRS990/TotalProgramServiceExpensesAmt046706
IRS990/TotalProgramServiceRevenueAmt049237
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt049237
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt060473
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0136
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0258228
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0252675
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/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN HARAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08472533670
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-09-16
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/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/PreparationDt02021-09-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID L JOHNSON
ReturnHeader/ReturnTs02021-09-27T16:33:59-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOHN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HARRAN
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$252,675
Liabilities
$140,976
Net assets
$111,699
Revenue
$60,473
Expenses
$58,521
Net income
$1,952
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