Civic Intelligence

Florida Horsemen'S Benevolent And

EIN 65-0135161 • 501(c)6 • Hallandale Beach, FL

Profile

The association represents the interests of several thousand thoroughbred horse owners and trainers who do business in south florida. The association works to foster and promote their relationships with tracks, community and government, while creating a better economic climate in which our horseman can do business.

PO Box 3507Hallandale Beach, FL 33008-3507
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

34th percentile

0.06x

Higher debt load relative to assets than 34% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

41st percentile

0.11x

Higher debt load relative to revenue than 41% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2025

Net Margin

5th percentile

-26%

Higher net margin than 5% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

33rd percentile

$55,000

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

501(c)6 • $1M-$5M nonprofits • Source year 2025

Asset Growth

17th percentile

-7.8%

Faster asset growth than 17% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

10th percentile

-16%

Faster revenue growth than 10% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets34th percentile

Assets

Down

$3,172,854

Down $266,632 (-7.8%) from 2024

Liabilities

Up

$180,554

Up $13,043 (+7.8%) from 2024

Net Assets

Down

$2,992,300

Down $279,675 (-8.5%) from 2024

Operations
Liabilities / Revenue41st percentileNet Margin5th percentile

Revenue

Down

$1,649,794

Down $309,978 (-16%) from 2024

Expenses

Up

$2,077,172

Up $398,388 (+24%) from 2024

Net Income

Down

-$427,378

Down $708,366 (-252%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth17th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2018: $1,366,745Liabilities 2018: $416,194Net Assets 2018: $950,5512018Assets 2019: $2,067,244Liabilities 2019: $920,978Net Assets 2019: $1,146,2662019Assets 2020: $2,888,571Liabilities 2020: $906,784Net Assets 2020: $1,981,7872020Assets 2021: $3,116,738Liabilities 2021: $259,094Net Assets 2021: $2,857,6442021Assets 2022: $2,589,618Liabilities 2022: $10,878Net Assets 2022: $2,578,7402022Assets 2023: $2,950,541Liabilities 2023: $46,709Net Assets 2023: $2,903,8322023Assets 2024: $3,439,486Liabilities 2024: $167,511Net Assets 2024: $3,271,9752024Assets 2025: $3,172,854Liabilities 2025: $180,554Net Assets 2025: $2,992,3002025

Highlighted filing

2025

Assets$3,172,854
Liabilities$180,554
Net Assets$2,992,300
Open 2025 Filing

Operations Trend

Revenue Growth10th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2018: $1,137,008Expenses 2018: $1,417,741Net Income 2018: -$280,7332018Revenue 2019: $1,891,249Expenses 2019: $1,686,917Net Income 2019: $204,3322019Revenue 2020: $1,774,759Expenses 2020: $939,238Net Income 2020: $835,5212020Revenue 2021: $1,694,912Expenses 2021: $890,726Net Income 2021: $804,1862021Revenue 2022: $1,492,878Expenses 2022: $1,643,551Net Income 2022: -$150,6732022Revenue 2023: $1,354,424Expenses 2023: $1,326,880Net Income 2023: $27,5442023Revenue 2024: $1,959,772Expenses 2024: $1,678,784Net Income 2024: $280,9882024Revenue 2025: $1,649,794Expenses 2025: $2,077,172Net Income 2025: -$427,3782025

Highlighted filing

2025

Revenue$1,649,794
Expenses$2,077,172
Net Income-$427,378
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,172,854
Liabilities
$180,554
Net assets
$2,992,300
Revenue
$1,649,794
Expenses
$2,077,172
Net income
-$427,378
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.17$0.18$2.99$1.65$2.08$0.43
2024Detailed filing. Detailed filing data is available for this year.$3.44$0.17$3.27$1.96$1.68$0.28
2023Detailed filing. Detailed filing data is available for this year.$2.95$0.05$2.90$1.35$1.33$0.03
2022Detailed filing. Detailed filing data is available for this year.$2.59$0.01$2.58$1.49$1.64$0.15
2021Detailed filing. Detailed filing data is available for this year.$3.12$0.26$2.86$1.69$0.89$0.80
2020Detailed filing. Detailed filing data is available for this year.$2.89$0.91$1.98$1.77$0.94$0.84
2019Detailed filing. Detailed filing data is available for this year.$2.07$0.92$1.15$1.89$1.69$0.20
2018Summary only. Only limited summary data is available for this year.$1.37$0.42$0.95$1.14$1.42$0.28
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2025 to Dec 31, 2025
Signed
Jan 28, 2026
Return Version
2025v4.0
Gross Receipts
$2,642,855
Mission and Program Overview

Mission

The association represents the interests of several thousand thoroughbred horse owners and trainers who do business in south florida. The association works to foster and promote their relationships with tracks, community and government, while creating a better economic climate in which our horseman can do business.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$3,271,975$2,992,300▼ $279,675
Investments in Publicly Traded Securities$2,863,040$2,540,738▼ $322,302
Cash and Non-Interest-Bearing Accounts$149,588$220,204▲ $70,616
Accounts Receivable$203,091$213,889▲ $10,798
Land, Buildings, and Equipment, Net$157,517$145,642▼ $11,875
Prepaid Expenses and Deferred Charges$66,250$52,381▼ $13,869
Total Assets$3,439,486$3,172,854▼ $266,632
Liabilities
Accounts Payable and Accrued Expenses$167,511$180,554▲ $13,043
Total Liabilities$167,511$180,554▲ $13,043
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,271,975$2,992,300▼ $279,675
Total Liabilities and Net Assets / Fund Balance$3,439,486$3,172,854▼ $266,632

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$240,254-$240,254
Equipment$-94,612$94,612-
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Tom CannellPresident/trPT$55,000$55,000
Chester Bishop2nd Vice PrePT$40,000$40,000
Joe OrsenoDirectorPT$40,000$40,000

Board Members and Trustees

NameTitle
David FawkesDirector
David RoussoDirector
Gerardo AmadoDirector
Jeffrey SiskinDirector
Kathy DaveyDirector
Patrick BianconeDirector
Peter LawsonDirector
Robert CotranDirector
Ron SpatzDirector
Saffie Joseph JrDirector
Teresa PalmerDirector
Adam Lazarus1st Vice Pre

Highest Paid Contractors

ContractorServicesLocationCompensation
Jackson Kelly Pllc-PO BOX 45705, Baltimore, MD 21297$167,687
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,600,838
Investment Income
$44,219
Other Revenue
$4,737
Change in Net Assets
$-427,378

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,625,571
Revenue Not Reported on Financial Statements
$24,223
Revenue Not Reported on Form 990
$147,703
Total Revenue per Audited Statements
$1,773,274
Total Revenue per Form 990
$1,649,794
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,233,093
Grants and Similar Amounts Paid$590,000
Salaries, Compensation, and Employee Benefits$254,079
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$590,000--$590,000
Other Salaries and Wages$208,216--$208,216
Fees for Services Other$135,000--$135,000
All Other Expenses$111,472--$111,472
Fees for Services Accounting$42,301--$42,301
Office Expenses$40,932--$40,932
Other Expenses$36,994--$36,994
Fees for Services Lobbying$36,000--$36,000
Other Employee Benefits$26,214--$26,214
Fees for Service Investment Mgmnt Fees$24,223--$24,223
Advertising$16,250--$16,250
Payroll Taxes$16,044--$16,044
Travel$12,846--$12,846
Depreciation Depletion$11,874--$11,874
Occupancy$7,099--$7,099
Insurance$6,073--$6,073
Pension Plan Contributions$3,605--$3,605
Fees for Services Legal$2,425--$2,425
Total Functional Expenses$2,077,172$0$0$2,077,172

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,077,172
Expenses per Audited Statements$2,052,949
Total Expenses per Audited Statements$2,052,949
Expenses Not Reported on Financial Statements$24,223
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
FLORIDA HORSEMEN'S CHARIABLE FOUNDHallandale Beach, FL501c3Benevolence&aftercar$590,000
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
Subject to proxy tax
No
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
Yes
Other officer compensation reviewed
Yes
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

“YES”

Form 990, Page 6, Part VI, Line 7A

“The board members serve a three year term. Five board members are elected annually.”

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

“The organization's independent cpa reviews the form 990 with the audit/finance committee. The president then presents the form 990 to the board for review and discussion.”

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

“The president and executive director will monitor transactions for conflicts of interest and disclose them to the board of directors in order to deal with potential or actual conflicts, whether discovered before or after the transaction has occurred. The president and executive director shall make the disclosures required by the policy to the board of directors.”

Form 990, Page 6, Part VI, Line 15A

“The executive committee, which are independent persons, contemporaneously reviews and discusses comparable compensation data of like kind positions within and outside of the industry.”

Form 990, Page 6, Part VI, Line 15B

“Salaries of comparable positions are researched to ensure adequate compensation.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon request at the organization's office for review or on the organization's website.”

Filing and Contact Details

Filer

Filer Name
FLORIDA HORSEMEN'S BENEVOLENT AND
EIN
65-0135161
Phone
9544573516
Address
PO BOX 3507, HALLANDALE BEACH, FL 33008-3507

Signing Officer

Name
Tom Cannell
Title
President/treasurer
Phone
9544573516
Signed
2026-01-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tom Cannell
Formed
1989
Legal Domicile
Fl
Voting Board Members
15
Independent Board Members
15
Employees
3
Volunteers
15

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 - ORGANIZATION'S MISSION

“The association represents the interests of several thousand thoroughbred horse owners and trainers who do business in south florida. The association works to foster and promote their relationships with tracks, community and government, while creating a better economic climate in which our horseman can do business.”

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

“.”

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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/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt12ND VICE PRE
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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt91ST VICE PRE
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
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IRS990/MissionDesc0THE ASSOCIATION REPRESENTS THE INTERESTS OF SEVERAL THOUSAND THOROUGHBRED HORSE OWNERS AND TRAINERS WHO DO BUSINESS IN SOUTH FLORIDA. THE ASSOCIATION WORKS TO FOSTER AND PROMOTE THEIR RELATIONSHIPS WITH TRACKS, COMMUNITY AND GOVERNMENT, WHILE CREATING A BETTER ECONOMIC CLIMATE IN WHICH OUR HORSEMAN CAN DO BUSINESS.
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IRS990/OccupancyGrp/TotalAmt07099
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IRS990/OfficeExpensesGrp/TotalAmt040932
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IRS990/Organization501cInd0X
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt026214
IRS990/OtherExpensesGrp/Desc0DECOUPLING EXPENSE
IRS990/OtherExpensesGrp/Desc1LEGISLATIVE CONTRIBUTION
IRS990/OtherExpensesGrp/Desc2INSURANCE
IRS990/OtherExpensesGrp/Desc3COMPUTER & INTERNET
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IRS990/OtherExpensesGrp/ProgramServicesAmt1122000
IRS990/OtherExpensesGrp/ProgramServicesAmt267484
IRS990/OtherExpensesGrp/ProgramServicesAmt336994
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IRS990/OtherExpensesGrp/TotalAmt1122000
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IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt04737
IRS990/OtherRevenueTotalAmt04737
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0208216
IRS990/OtherSalariesAndWagesGrp/TotalAmt0208216
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IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt016044
IRS990/PayrollTaxesGrp/TotalAmt016044
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt03605
IRS990/PensionPlanContributionsGrp/TotalAmt03605
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IRS990ScheduleD/InvestmentExpensesNotIncldAmt024223
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0240254
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IRS990ScheduleD/RevenueSubtotalAmt01625571
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0145642
IRS990ScheduleD/TotalExpensesPerForm990Amt02077172
IRS990ScheduleD/TotalRevenuePerForm990Amt01649794
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01773274
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02052949
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0BENEVOLENCE&AFTERCAR
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0FLORIDA HORSEMEN'S CHARIABLE FOUND
IRS990ScheduleI/RecipientTable/RecipientEIN0300052881
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 3507
IRS990ScheduleI/RecipientTable/USAddress/CityNm0HALLANDALE BEACH
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0FL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd0330083507
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0FMV
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION REPRESENTS THE INTERESTS OF SEVERAL THOUSAND THOROUGHBRED HORSE OWNERS AND TRAINERS WHO DO BUSINESS IN SOUTH FLORIDA. THE ASSOCIATION WORKS TO FOSTER AND PROMOTE THEIR RELATIONSHIPS WITH TRACKS, COMMUNITY AND GOVERNMENT, WHILE CREATING A BETTER ECONOMIC CLIMATE IN WHICH OUR HORSEMAN CAN DO BUSINESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2YES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD MEMBERS SERVE A THREE YEAR TERM. FIVE BOARD MEMBERS ARE ELECTED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S INDEPENDENT CPA REVIEWS THE FORM 990 WITH THE AUDIT/FINANCE COMMITTEE. THE PRESIDENT THEN PRESENTS THE FORM 990 TO THE BOARD FOR REVIEW AND DISCUSSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PRESIDENT AND EXECUTIVE DIRECTOR WILL MONITOR TRANSACTIONS FOR CONFLICTS OF INTEREST AND DISCLOSE THEM TO THE BOARD OF DIRECTORS IN ORDER TO DEAL WITH POTENTIAL OR ACTUAL CONFLICTS, WHETHER DISCOVERED BEFORE OR AFTER THE TRANSACTION HAS OCCURRED. THE PRESIDENT AND EXECUTIVE DIRECTOR SHALL MAKE THE DISCLOSURES REQUIRED BY THE POLICY TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE EXECUTIVE COMMITTEE, WHICH ARE INDEPENDENT PERSONS, CONTEMPORANEOUSLY REVIEWS AND DISCUSSES COMPARABLE COMPENSATION DATA OF LIKE KIND POSITIONS WITHIN AND OUTSIDE OF THE INDUSTRY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7SALARIES OF COMPARABLE POSITIONS ARE RESEARCHED TO ENSURE ADEQUATE COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S OFFICE FOR REVIEW OR ON THE ORGANIZATION'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0300052881
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0BENEV.
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0FLORIDA HORSEMEN'S CHARITABLE FOUND
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine2Txt0FLORIDA HORSEMEN'S CHARITABLE FOUND
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