Civic Intelligence

Maryland Million Ltd

990 • Fiscal year 2021 • EIN 52-1405980

Nov 01, 2020 to Oct 31, 2021 • Filed on Mar 10, 2022

Organization ProfileWWW.MARYLANDTHOROUGHBRED.COM
321 Main StreetReisterstown, MD 21136

(410) 252-2100

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.63x

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

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

84th percentile

0.62x

Higher debt load relative to revenue than 84% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Net Margin

58th percentile

14%

Higher net margin than 58% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

25th percentile

$0

Higher top officer pay than 25% of similar nonprofits.

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

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Asset Growth

68th percentile

19%

Faster asset growth than 68% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

72nd percentile

25%

Faster revenue growth than 72% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$1,738,943

Up $283,269 (+19%) from 2020

Net Assets

Up

$649,939

Up $251,660 (+63%) from 2020

Liabilities

Up

$1,089,004

Up $31,609 (+3.0%) from 2020

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin58th percentile

Revenue

Up

$1,770,484

Up $357,103 (+25%) from 2020

Expenses

Up

$1,518,824

Up $105,627 (+7.5%) from 2020

Net Income

Up

$251,660

Up $251,476 (+136672%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $907,879Liabilities 2010: $726,706Net Assets 2010: $181,1732010Assets 2011: $995,402Liabilities 2011: $810,210Net Assets 2011: $185,1922011Assets 2012: $1,209,578Liabilities 2012: $1,017,639Net Assets 2012: $191,9392012Assets 2013: $1,468,316Liabilities 2013: $1,276,310Net Assets 2013: $192,0062013Assets 2014: $1,455,780Liabilities 2014: $1,262,798Net Assets 2014: $192,9822014Assets 2015: $1,547,651Liabilities 2015: $1,340,775Net Assets 2015: $206,8762015Assets 2016: $1,628,208Liabilities 2016: $1,282,597Net Assets 2016: $345,6112016Assets 2017: $1,668,770Liabilities 2017: $1,271,166Net Assets 2017: $397,6042017Assets 2018: $1,730,031Liabilities 2018: $1,332,483Net Assets 2018: $397,5482018Assets 2019: $1,697,625Liabilities 2019: $1,299,530Net Assets 2019: $398,0952019Assets 2020: $1,455,674Liabilities 2020: $1,057,395Net Assets 2020: $398,2792020Assets 2021: $1,738,943Liabilities 2021: $1,089,004Net Assets 2021: $649,9392021Assets 2022: $1,964,971Liabilities 2022: $1,170,187Net Assets 2022: $794,7842022Assets 2023: $1,337,904Liabilities 2023: $400,647Net Assets 2023: $937,2572023Assets 2025: $1,254,194Liabilities 2025: $108,489Net Assets 2025: $1,145,7052025

Highlighted filing

2021

Assets$1,738,943
Liabilities$1,089,004
Net Assets$649,939
Open 2021 Filing

Operations Trend

Revenue Growth72nd percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,817,0882010Expenses 2011: $1,688,7772011Expenses 2012: $1,762,2972012Expenses 2013: $1,596,1602013Revenue 2014: $1,635,501Expenses 2014: $1,634,525Net Income 2014: $9762014Revenue 2015: $1,704,610Expenses 2015: $1,690,716Net Income 2015: $13,8942015Revenue 2016: $1,771,581Expenses 2016: $1,632,846Net Income 2016: $138,7352016Revenue 2017: $1,795,287Expenses 2017: $1,743,294Net Income 2017: $51,9932017Revenue 2018: $1,863,338Expenses 2018: $1,863,394Net Income 2018: -$562018Revenue 2019: $1,936,648Expenses 2019: $1,936,101Net Income 2019: $5472019Revenue 2020: $1,413,381Expenses 2020: $1,413,197Net Income 2020: $1842020Revenue 2021: $1,770,484Expenses 2021: $1,518,824Net Income 2021: $251,6602021Revenue 2022: $1,752,570Expenses 2022: $1,607,725Net Income 2022: $144,8452022Revenue 2023: $1,747,016Expenses 2023: $1,604,543Net Income 2023: $142,4732023Revenue 2025: $1,594,215Expenses 2025: $1,565,820Net Income 2025: $28,3952025

Highlighted filing

2021

Revenue$1,770,484
Expenses$1,518,824
Net Income$251,660
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2020 to Oct 31, 2021
Signed
Mar 10, 2022
Return Version
2020v4.0
Gross Receipts
$1,770,484
Mission and Program Overview

Mission

Promotion of maryland thoroughbred horse breeding and racing industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$583,494$1,366,582▲ $783,088
Accounts Receivable$829,760$329,941▼ $499,819
Prepaid Expenses and Deferred Charges$2,970$2,970→ $0
Total Assets$1,455,674$1,738,943▲ $283,269
Other Assets Total$39,450$39,450→ $0
Liabilities
Accounts Payable and Accrued Expenses$932,894$1,040,903▲ $108,009
Other Liabilities$124,501$48,101▼ $76,400
Total Liabilities$1,057,395$1,089,004▲ $31,609
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$398,279$649,939▲ $251,660
Total Net Assets Fund Balance$398,279$649,939▲ $251,660
Total Liabilities and Net Assets / Fund Balance$1,455,674$1,738,943▲ $283,269
Compensation and Service Providers
Top Officer Pay25th percentile

Board Members and Trustees

NameTitle
Louis MerrymanPresident
Ann MerrymanDirector
Donald a Miller JrDirector
Eh Worthington IvDirector
J William BonifaceDirector
John FosterDirector
Michael PonsDirector
PAUL O'LOUGHLINDirector
R Larry JohnsonDirector
Richard F Blue JrDirector
Timothy L KeefeDirector
Tk KueglerDirector
Wayne a HarrisonDirector
James B Steele JrPast Preside
Katharine M VossSecretary Tr
Kent a MurrayVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$658,880
Program Service Revenue
$1,109,921
Investment Income
$1,683
Other Revenue
$0
All Other Contributions
$66,109
Change in Net Assets
$251,660

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,770,484
Total Revenue per Audited Statements
$1,770,484
Total Revenue per Form 990
$1,770,484
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,518,824
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$23,817--$23,817
Fees for Services Accounting$22,775--$22,775
Other Expenses$10,029--$10,029
Advertising$7,920--$7,920
Office Expenses$4,446--$4,446
Insurance$3,564--$3,564
Information Technology$288--$288
Total Functional Expenses$1,518,824$0$0$1,518,824

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,518,824
Total Expenses per Audited Statements$1,518,824
Total Expenses per Form 990$1,518,824
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
Yes
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Committed Purses$48,101
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
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 6

“Maryland million, ltd. Is organized with members.”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed in detail with the executive director and then with the board of directors. The board of directors discuss the form 990 and then vote on the proposal to approve the form 990.”

Form 990, Page 6, Part VI, Line 12C

“Each director and officer reviews an annual disclosure statement which affirms that the person has received a copy of the conflict of interest policy, has read and understood the policy, and agrees to comply with the policy. All annual disclosure statements are submitted to the secretary of the organization and filed with the minutes of the first board meeting of the board of directors held each year. Any director who fails to comply with the conflict of interest policy may, at the discretion of the board of directors, be removed from the board.”

Form 990, Page 6, Part VI, Line 19

“Copies of governing documents, conflict of interest policy, and financial statements are available at the organization's office upon request.”

Filing and Contact Details

Filer

Filer Name
Maryland Million Ltd
EIN
52-1405980
Phone
4102522100
Address
321 MAIN STREET, REISTERSTOWN, MD 21136

Signing Officer

Name
Cricket Goodall
Title
Executive Director
Phone
4102522100
Signed
2022-03-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cricket Goodall
Formed
1985
Legal Domicile
Md
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
17

Preparer

Firm
Gegorek & Company Pa
Address
136 HEATHER DR, QUEENSTOWN, MD 21658-1194
Preparer
Craig S Gegorek
Phone
4108234040
Supplemental Narrative

Additional Explanations

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

“.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization believes that it has support for any tax positions taken and, as such, it does not have any uncertain tax positions that are material to the financial statements.”

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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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0COMMITTED PURSES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION BELIEVES THAT IT HAS SUPPORT FOR ANY TAX POSITIONS TAKEN AND, AS SUCH, IT DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalLiabilityAmt048101
IRS990ScheduleD/TotalRevenuePerForm990Amt01770484
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MARYLAND MILLION, LTD. IS ORGANIZED WITH MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED IN DETAIL WITH THE EXECUTIVE DIRECTOR AND THEN WITH THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS DISCUSS THE FORM 990 AND THEN VOTE ON THE PROPOSAL TO APPROVE THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EACH DIRECTOR AND OFFICER REVIEWS AN ANNUAL DISCLOSURE STATEMENT WHICH AFFIRMS THAT THE PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTOOD THE POLICY, AND AGREES TO COMPLY WITH THE POLICY. ALL ANNUAL DISCLOSURE STATEMENTS ARE SUBMITTED TO THE SECRETARY OF THE ORGANIZATION AND FILED WITH THE MINUTES OF THE FIRST BOARD MEETING OF THE BOARD OF DIRECTORS HELD EACH YEAR. ANY DIRECTOR WHO FAILS TO COMPLY WITH THE CONFLICT OF INTEREST POLICY MAY, AT THE DISCRETION OF THE BOARD OF DIRECTORS, BE REMOVED FROM THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COPIES OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE ORGANIZATION'S OFFICE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0398279
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0649939

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,738,943
Liabilities
$1,089,004
Net assets
$649,939
Revenue
$1,770,484
Expenses
$1,518,824
Net income
$251,660
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.25$0.11$1.15$1.59$1.57$0.03
2023Summary only. Only limited summary data is available for this year.$1.34$0.40$0.94$1.75$1.60$0.14
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.96$1.17$0.79$1.75$1.61$0.14
2021Detailed filing. Detailed filing data is available for this year.$1.74$1.09$0.65$1.77$1.52$0.25
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.46$1.06$0.40$1.41$1.41$0.00
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.70$1.30$0.40$1.94$1.94$0.00
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.73$1.33$0.40$1.86$1.86$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.67$1.27$0.40$1.80$1.74$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.63$1.28$0.35$1.77$1.63$0.14
2015Detailed filing. Detailed filing data is available for this year.$1.55$1.34$0.21$1.70$1.69$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.46$1.26$0.19$1.64$1.63$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.47$1.28$0.19$1.60
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.21$1.02$0.19$1.76
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.00$0.81$0.19$1.69
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.91$0.73$0.18$1.82