Civic Intelligence

Minnesota Harness Racing Inc

990 • Fiscal year 2013 • EIN 41-0800026

Jan 01, 2013 to Dec 31, 2013 • Filed on May 07, 2014

39125 20th Street56048

(507) 234-2261

Siviq Scores

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

Liabilities / Assets

47th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2013 filings • 501(c)6 • <$500k nonprofits • Source year 2013

Liabilities / Revenue

48th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2013 filings • 501(c)6 • <$500k nonprofits • Source year 2013

Net Margin

45th percentile

0.9%

Higher net margin than 45% of similar nonprofits.

2013 filings • 501(c)6 • <$500k nonprofits • Source year 2013

Top Officer Pay

86th percentile

$50,000

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 11.9% of source-year revenue.

2013 filings • 501(c)6 • <$500k nonprofits • Source year 2013

Asset Growth

15th percentile

-22%

Faster asset growth than 15% of similar nonprofits.

2013 filings • 501(c)6 • <$500k nonprofits • Annualized from 2011 to 2013

Revenue Growth

72nd percentile

14%

Faster revenue growth than 72% of similar nonprofits.

2013 filings • 501(c)6 • <$500k nonprofits • Annualized from 2011 to 2013

Assets

Down

$37,443

Down $23,532 (-39%) from 2011

Net Assets

Down

$37,443

Down $23,532 (-39%) from 2011

Liabilities

Flat

$0

Flat from 2011

Revenue

Up

$421,922

Up $98,402 (+30%) from 2011

Expenses

Up

$417,997

Up $99,122 (+31%) from 2011

Net Income

Down

$3,925

Down $720 (-16%) from 2011

Historical Trend

Balance Sheet Trend

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

$300K$200K$100K$0Assets 2008: $2,808Liabilities 2008: $02008Assets 2009: $29,696Liabilities 2009: $02009Assets 2010: $56,330Liabilities 2010: $0Net Assets 2010: $56,3302010Assets 2011: $60,975Liabilities 2011: $0Net Assets 2011: $60,9752011Assets 2013: $37,443Liabilities 2013: $0Net Assets 2013: $37,4432013Assets 2014: $14,573Liabilities 2014: $0Net Assets 2014: $14,5732014Assets 2015: $112,766Liabilities 2015: $0Net Assets 2015: $112,7662015Assets 2016: $139,491Liabilities 2016: $0Net Assets 2016: $139,4912016Assets 2017: $169,726Liabilities 2017: $0Net Assets 2017: $169,7262017Assets 2018: $70,395Liabilities 2018: $0Net Assets 2018: $70,3952018Assets 2019: $83,865Liabilities 2019: $0Net Assets 2019: $83,8652019Assets 2020: $85,440Liabilities 2020: $0Net Assets 2020: $85,4402020Assets 2021: $124,816Liabilities 2021: $0Net Assets 2021: $124,8162021Assets 2022: $155,423Liabilities 2022: $0Net Assets 2022: $155,4232022Assets 2023: $232,656Liabilities 2023: $0Net Assets 2023: $232,6562023Assets 2024: $224,893Liabilities 2024: $0Net Assets 2024: $224,8932024

Highlighted filing

2013

Assets$37,443
Liabilities$0
Net Assets$37,443

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2008: $171,052Expenses 2008: $170,589Net Income 2008: $4632008Revenue 2009: $231,449Expenses 2009: $211,558Net Income 2009: $19,8912009Revenue 2010: $421,152Expenses 2010: $394,518Net Income 2010: $26,6342010Revenue 2011: $323,520Expenses 2011: $318,875Net Income 2011: $4,6452011Revenue 2013: $421,922Expenses 2013: $417,997Net Income 2013: $3,9252013Revenue 2014: $405,071Expenses 2014: $427,941Net Income 2014: -$22,8702014Revenue 2015: $443,811Expenses 2015: $345,618Net Income 2015: $98,1932015Revenue 2016: $372,963Expenses 2016: $346,238Net Income 2016: $26,7252016Revenue 2017: $354,713Expenses 2017: $324,478Net Income 2017: $30,2352017Revenue 2018: $266,233Expenses 2018: $365,564Net Income 2018: -$99,3312018Revenue 2019: $494,660Expenses 2019: $481,190Net Income 2019: $13,4702019Revenue 2020: $464,778Expenses 2020: $463,203Net Income 2020: $1,5752020Revenue 2021: $462,180Expenses 2021: $422,804Net Income 2021: $39,3762021Revenue 2022: $549,725Expenses 2022: $519,118Net Income 2022: $30,6072022Revenue 2023: $439,027Expenses 2023: $361,794Net Income 2023: $77,2332023Revenue 2024: $403,962Expenses 2024: $411,725Net Income 2024: -$7,7632024

Highlighted filing

2013

Revenue$421,922
Expenses$417,997
Net Income$3,925
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
May 7, 2014
Return Version
2013v3.1
Gross Receipts
$422,517
Mission and Program Overview

Mission

Representing all the owners, trainer, breeders, grooms and drivers that race standard bred harness horses in the state of minnesota. Promoting and protecting the welfare of the horses raced and those involved with working with them.

NONE

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$9,458$21,072▲ $11,614
Land, Buildings, and Equipment, Net$24,060$16,371▼ $7,689
Total Assets$33,518$37,443▲ $3,925
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$33,518$37,443▲ $3,925
Total Net Assets Fund Balance$33,518$37,443▲ $3,925
Total Liabilities and Net Assets / Fund Balance$33,518$37,443▲ $3,925

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$16,371$54,570$70,941
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Susan SchroederExecutive DirectorFT$50,000$50,000
Ron BanksVice President-$11,250$11,250
Greg BudachSecretarytreasurer-$10,300$10,300
Ulf Holm-johnsonBoard Member-$3,715$3,715
Jeff RyanBoard Member-$2,200$2,200
Mark CorlessPresident-$1,875$1,875
Vern DevineBoard Director-$1,350$1,350
Bob LemsBoard Member-$660$660
Cindy IveyBoard Director-$180$180

Board Members and Trustees

NameTitle
Justin AnfinsonBoard Member
Kyle Van OtterlooBoard Member
Michael BanittBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$95,667
Program Service Revenue
$325,704
Investment Income
$0
Other Revenue
$551
All Other Contributions
$95,667
Change in Net Assets
$3,925
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$362,261
Salaries, Compensation, and Employee Benefits$54,827
Grants and Similar Amounts Paid$909
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$50,000--$50,000
Depreciation Depletion$7,689--$7,689
Advertising$6,290--$6,290
Conferences and Meetings$6,265--$6,265
Fees for Services Accounting$6,050--$6,050
Fees for Services Management$6,000--$6,000
Insurance$4,875--$4,875
Payroll Taxes$4,827--$4,827
Fees for Services Legal$2,500--$2,500
Payments to Affiliates$2,295--$2,295
Office Expenses$2,130--$2,130
Grants to Domestic Orgs$909--$909
Travel$579--$579
Information Technology$475--$475
Other Expenses$231--$231
Total Functional Expenses$417,997$0$0$417,997
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$1,146
Fundraising Direct Expenses$595
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

Any person or coporation regardless of residence, that is interested in the sport of harness racing, including all people who race in minnesota, shall be eligible to make written application for membership. An applicant shall become a member upon the acceptance by the board of directors and payment of the membership fee.

Member election for additional members Part VI line 7A

The general membership votes who will serve on the board.

Committee meeting documentation Part VI line 8B

The organization does not have a committee that acts on behalf of hte governing board.

Form 990 governing body review Part VI line 11

Teh treasurer and the executive director will review the form 990 prior to being sent to the board for final approval.

CEO executive director top management comp Part VI line 15A

The executive director's compensation is determined by the board of directors. Comparability data from harness horsemen international is used in the process. Compensation is reveiwed and deliberated by the board before a decision on compensation is made. The decision is then recorded in the minutes of the board.

Governing documents etc available to public Part VI line 19

The organization's governing documents and financial statemetns are made available to the public upon request.

Filing and Contact Details

Filer

EIN
41-0800026

Signing Officer

Name
Greg Budach
Title
Secretarytreas
Signed
2014-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Corless
Formed
1951
Legal Domicile
Mn
Voting Board Members
10
Independent Board Members
7
Employees
1
Volunteers
10

Preparer

Preparer
Krista Currie CPA EA
Phone
3206292090
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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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IRS990/ProgramServiceRevenueGrp/Desc3MISCELLANEOUS REVENUE
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt110405
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt26135
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt33875
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0305289
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt110405
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt26135
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt33875
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt080300
IRS990/PYGrantsAndSimilarPaidAmt015000
IRS990/PYOtherExpensesAmt0301476
IRS990/PYOtherRevenueAmt0260
IRS990/PYProgramServiceRevenueAmt0304451
IRS990/PYRevenuesLessExpensesAmt0-27457
IRS990/PYSalariesCompEmpBnftPaidAmt095992
IRS990/PYTotalExpensesAmt0412468
IRS990/PYTotalRevenueAmt0385011
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt03925
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt016371
IRS990ScheduleD/EquipmentGrp/DepreciationAmt054570
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt070941
IRS990ScheduleD/TotalBookValueLandBuildingsAmt016371
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ANY PERSON OR COPORATION REGARDLESS OF RESIDENCE, THAT IS INTERESTED IN THE SPORT OF HARNESS RACING, INCLUDING ALL PEOPLE WHO RACE IN MINNESOTA, SHALL BE ELIGIBLE TO MAKE WRITTEN APPLICATION FOR MEMBERSHIP. AN APPLICANT SHALL BECOME A MEMBER UPON THE ACCEPTANCE BY THE BOARD OF DIRECTORS AND PAYMENT OF THE MEMBERSHIP FEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GENERAL MEMBERSHIP VOTES WHO WILL SERVE ON THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES NOT HAVE A COMMITTEE THAT ACTS ON BEHALF OF HTE GOVERNING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TEH TREASURER AND THE EXECUTIVE DIRECTOR WILL REVIEW THE FORM 990 PRIOR TO BEING SENT TO THE BOARD FOR FINAL APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. COMPARABILITY DATA FROM HARNESS HORSEMEN INTERNATIONAL IS USED IN THE PROCESS. COMPENSATION IS REVEIWED AND DELIBERATED BY THE BOARD BEFORE A DECISION ON COMPENSATION IS MADE. THE DECISION IS THEN RECORDED IN THE MINUTES OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMETNS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Committee meeting documentation Part VI line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Governing documents etc available to public Part VI line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt033518
IRS990/TotalAssetsEOYAmt037443
IRS990/TotalAssetsGrp/BOYAmt033518
IRS990/TotalAssetsGrp/EOYAmt037443
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt095667
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0417997
IRS990/TotalFunctionalExpensesGrp/TotalAmt0417997
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt033518
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt037443
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0417997
IRS990/TotalProgramServiceRevenueAmt0325704
IRS990/TotalReportableCompFromOrgAmt081530
IRS990/TotalRevenueGrp/ExclusionAmt0551
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0325704
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0421922
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt033518
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt037443
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ProgramServicesAmt0579
IRS990/TravelGrp/TotalAmt0579
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt033518
IRS990/UnrestrictedNetAssetsGrp/EOYAmt037443
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.MNHARNESS.COM
IRS990/WhistleblowerPolicyInd0false
IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GREG BUDACH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARYTREAS
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-05-07
ReturnHeader/Filer/BusinessName/BusinessNameLine10MINNESOTA HARNESS RACING INC
ReturnHeader/Filer/BusinessNameControlTxt0MINN
ReturnHeader/Filer/EIN0410800026
ReturnHeader/Filer/USAddress/AddressLine1039125 20TH STREET
ReturnHeader/Filer/USAddress/City0JANESVILLE
ReturnHeader/Filer/USAddress/State0MN
ReturnHeader/Filer/USAddress/ZIPCode056048
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411926228
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10Currie Pangerl & Associates Ltd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine101015 Hillside Ave SW Suite 2
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Pine City
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode055063
ReturnHeader/PreparerPersonGrp/PhoneNum03206292090
ReturnHeader/PreparerPersonGrp/PreparationDt02014-05-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Krista Currie CPA EA
ReturnHeader/ReturnTs02014-05-12T12:11:14-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.25$0.00$2.25$4.04$4.12$0.08
2023Detailed filing. Detailed filing data is available for this year.$2.33$0.00$2.33$4.39$3.62$0.77
2022Detailed filing. Detailed filing data is available for this year.$1.55$0.00$1.55$5.50$5.19$0.31
2021Detailed filing. Detailed filing data is available for this year.$1.25$0.00$1.25$4.62$4.23$0.39
2020Detailed filing. Detailed filing data is available for this year.$0.85$0.00$0.85$4.65$4.63$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.84$0.00$0.84$4.95$4.81$0.13
2018Detailed filing. Detailed filing data is available for this year.$0.70$0.00$0.70$2.66$3.66$0.99
2017Detailed filing. Detailed filing data is available for this year.$1.70$0.00$1.70$3.55$3.24$0.30
2016Detailed filing. Detailed filing data is available for this year.$1.39$0.00$1.39$3.73$3.46$0.27
2015Detailed filing. Detailed filing data is available for this year.$1.13$0.00$1.13$4.44$3.46$0.98
2014Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.15$4.05$4.28$0.23
2013Detailed filing. Detailed filing data is available for this year.$0.37$0.00$0.37$4.22$4.18$0.04
2011Summary only. Only limited summary data is available for this year.$0.61$0.00$0.61$3.24$3.19$0.05
2010Summary only. Only limited summary data is available for this year.$0.56$0.00$0.56$4.21$3.95$0.27
2009Summary only. Only limited summary data is available for this year.$0.30$0.00$2.31$2.12$0.20
2008Summary only. Only limited summary data is available for this year.$0.03$0.00$1.71$1.71$0.00
Peer Organizations

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