Civic Intelligence

Racing Medication and Testing Consortium

EIN 72-1559413 • 501(c)3 • Lexington, KY

Profile

The mission of the consortium is to engage in research, education, and advocacy for science-based initiatives that promote the health and safety of the racehorse and the integrity of competition.

401 West Main Street Suite 222Lexington, KY 40507

rmtcnet.com

Siviq Scores

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

Liabilities / Assets

74th percentile

0.18x

Higher debt load relative to assets than 74% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

78th percentile

0.20x

Higher debt load relative to revenue than 78% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

5th percentile

-70%

Higher net margin than 5% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

97th percentile

$226,776

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 43.4% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

9th percentile

-35%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

59th percentile

13%

Faster revenue growth than 59% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets74th percentile

Assets

Down

$568,320

Down $512,997 (-47%) from 2022

Liabilities

Up

$105,122

Up $54,221 (+107%) from 2022

Net Assets

Down

$463,198

Down $567,218 (-55%) from 2022

Operations
Liabilities / Revenue78th percentileNet Margin5th percentile

Revenue

Down

$522,255

Down $196,318 (-27%) from 2022

Expenses

Up

$887,587

Up $295,915 (+50%) from 2022

Net Income

Down

-$365,332

Down $492,233 (-388%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth9th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $674,261Liabilities 2011: $608,479Net Assets 2011: $65,7822011Assets 2013: $646,263Liabilities 2013: $35,230Net Assets 2013: $611,0332013Assets 2014: $795,337Liabilities 2014: $153,699Net Assets 2014: $641,6382014Assets 2016: $790,994Liabilities 2016: $74,733Net Assets 2016: $716,2612016Assets 2017: $655,235Liabilities 2017: $79,082Net Assets 2017: $576,1532017Assets 2018: $687,588Liabilities 2018: $40,693Net Assets 2018: $646,8952018Assets 2019: $690,421Liabilities 2019: $66,867Net Assets 2019: $623,5542019Assets 2020: $781,505Liabilities 2020: $76,842Net Assets 2020: $704,6632020Assets 2021: $1,022,414Liabilities 2021: $118,899Net Assets 2021: $903,5152021Assets 2022: $1,081,317Liabilities 2022: $50,901Net Assets 2022: $1,030,4162022Assets 2024: $568,320Liabilities 2024: $105,122Net Assets 2024: $463,1982024

Highlighted filing

2024

Assets$568,320
Liabilities$105,122
Net Assets$463,198
Open 2024 Filing

Operations Trend

Revenue Growth59th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $1,364,2412011Revenue 2013: $699,581Expenses 2013: $470,568Net Income 2013: $229,0132013Revenue 2014: $575,547Expenses 2014: $544,942Net Income 2014: $30,6052014Revenue 2016: $581,133Expenses 2016: $503,045Net Income 2016: $78,0882016Revenue 2017: $478,024Expenses 2017: $618,132Net Income 2017: -$140,1082017Revenue 2018: $643,369Expenses 2018: $572,627Net Income 2018: $70,7422018Revenue 2019: $597,544Expenses 2019: $620,885Net Income 2019: -$23,3412019Revenue 2020: $767,991Expenses 2020: $701,882Net Income 2020: $66,1092020Revenue 2021: $765,426Expenses 2021: $566,573Net Income 2021: $198,8532021Revenue 2022: $718,573Expenses 2022: $591,672Net Income 2022: $126,9012022Revenue 2024: $522,255Expenses 2024: $887,587Net Income 2024: -$365,3322024

Highlighted filing

2024

Revenue$522,255
Expenses$887,587
Net Income-$365,332
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$568,320
Liabilities
$105,122
Net assets
$463,198
Revenue
$522,255
Expenses
$887,587
Net income
-$365,332
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$0.11$0.46$0.52$0.89$0.37
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$0.05$1.03$0.72$0.59$0.13
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.02$0.12$0.90$0.77$0.57$0.20
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.78$0.08$0.70$0.77$0.70$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.69$0.07$0.62$0.60$0.62$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.69$0.04$0.65$0.64$0.57$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.66$0.08$0.58$0.48$0.62$0.14
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.79$0.07$0.72$0.58$0.50$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.80$0.15$0.64$0.58$0.54$0.03
2013Detailed filing. Detailed filing data is available for this year.$0.65$0.04$0.61$0.70$0.47$0.23
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.67$0.61$0.07$1.36
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$718,573
Mission and Program Overview

Mission

The mission of the consortium is to engage in research, education, and advocacy for science-based initiatives that promote the health and safety of the racehorse and the integrity of competition.

The consortium funds research, develops and promotes policy recommendations, and educates stakeholders in support of horse racing safety and integrity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$547,421$614,632▲ $67,211
Savings and Temporary Cash Investments$293,727$298,175▲ $4,448
Accounts Receivable$169,507$158,868▼ $10,639
Land, Buildings, and Equipment, Net$9,285$7,023▼ $2,262
Prepaid Expenses and Deferred Charges$2,474$2,619▲ $145
Total Assets$1,022,414$1,081,317▲ $58,903
Liabilities
Deferred Revenue$100,000--
Accounts Payable and Accrued Expenses$18,899$50,901▲ $32,002
Total Liabilities$118,899$50,901▼ $67,998
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$903,515$1,030,416▲ $126,901
Total Net Assets Fund Balance$903,515$1,030,416▲ $126,901
Total Liabilities and Net Assets / Fund Balance$1,022,414$1,081,317▲ $58,903

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,023$14,902$21,925
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Mary ScollayExecutive DirectorFT$170,980$47,477$218,457
Michael D HardyExecutive Director (partial Year)FT$24,107-$24,107

Board Members and Trustees

NameTitle
Alex WaldropChair/president
Alan ForemanVice Chair
Hank ZeitlinVice Chair
Alan BalchDirector
Andy SchweigardtDirector
Chauncey MorrisDirector
DAVID O'ROURKEDirector
Dora DelgadoDirector
Dr Bruce HowardDirector
Dr Dionne BensonDirector
Dr James MeyerDirector
Dr Jeff BleaDirector
Dr Lynn HovdaDirector
Dr Stuart Brown IiDirector
Dr William FarmerDirector
Ed MartinDirector
Eric HamelbackDirector
Glenn BlodgettDirector
John CampbellDirector
Keith ChamblinDirector
Matt IulianoDirector
Rick GoldDirector
Terrence MeyocksDirector
Tom RobbinsDirector
Dr Rick ArthurSecretary
Janet VanbebberTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$714,105
Program Service Revenue
$0
Investment Income
$4,448
Other Revenue
$20
All Other Contributions
$714,105
Change in Net Assets
$126,901

Audited Revenue Reconciliation

Revenue per Audited Statements
$718,573
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$718,573
Total Revenue per Form 990
$718,573
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$349,522
Other Expenses$159,044
Grants and Similar Amounts Paid$83,106
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$163,245$79,319-$242,564
Grants to Domestic Orgs$83,106--$83,106
Other Salaries and Wages$46,919$22,797-$69,716
Conferences and Meetings$38,304$811-$39,115
Payroll Taxes$12,761$6,201-$18,962
Fees for Services Accounting-$16,823-$16,823
Fees for Services Other$13,973--$13,973
Travel$12,733--$12,733
Pension Plan Contributions$6,348$3,085-$9,433
Other Employee Benefits$5,954$2,893-$8,847
Occupancy-$7,741-$7,741
Information Technology-$6,178-$6,178
Depreciation Depletion-$5,927-$5,927
Office Expenses-$5,450-$5,450
Insurance-$4,133-$4,133
Fees for Services Legal-$1,718-$1,718
Other Expenses$44,910$343-$343
Total Functional Expenses$428,253$163,419$0$591,672

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$591,672
Total Expenses per Audited Statements$591,672
Total Expenses per Form 990$591,672
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of FloridaGainesville, FL501(c)(3)Fund Research Projects Related to Ensuring the Integrity of Horse Racing.$27,424
University of California DavisWest Sacramento, CA501(c)(3)Fund Research Projects Related to Ensuring the Integrity of Horse Racing.$20,450
University of Illinois ChicagoChicago, IL501(c)(3)Fund Research Projects Related to Ensuring the Integrity of Horse Racing.$7,988
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
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The 990 is distributed to the board of directors via email for review.”

Form 990, Part VI, Section B, Line 15

“Salary is based on year end review of goals by the board chairperson with approval for any changes by the executive committee. The board chairperson is not compensated.”

Form 990, Part VI, Section C, Line 19

“Availability of the organization's governing documents and financial statements would be determined on a case-by-case basis.”

Filing and Contact Details

Filer

Filer Name
Racing Medication and Testing Consortium
EIN
72-1559413
Phone
8592242844
Address
401 WEST MAIN STREET SUITE 222, LEXINGTON, KY 40507

Signing Officer

Name
Alex Waldrop
Title
Chairman
Phone
8592242844
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alex Waldrop
Formed
2003
Legal Domicile
Ky
Voting Board Members
26
Independent Board Members
26
Employees
3
Volunteers
26

Preparer

Firm
Strothman & Company Psc
Address
325 W MAIN ST SUITE 1600, LOUISVILLE, KY 40202-4251
Preparer
William G Meyer Iii
Phone
5025851600
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization has a committee that assumes responsibility for oversight of the audit of its financial statements and the selection of an independent accountant. This process has not changed from the prior year.”

Raw XML AppendixShowing 400 of 608 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.

Path#Value
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IRS990/AccountsReceivableGrp/EOYAmt0158868
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0THE CONSORTIUM FUNDS RESEARCH, DEVELOPS AND PROMOTES POLICY RECOMMENDATIONS, AND EDUCATES STAKEHOLDERS IN SUPPORT OF HORSE RACING SAFETY AND INTEGRITY.
IRS990/AllOtherContributionsAmt0714105
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IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0401 WEST MAIN STREET SUITE 222
IRS990/BooksInCareOfDetail/USAddress/CityNm0LEXINGTON
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0KY
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IRS990/DepreciationDepletionGrp/TotalAmt05927
IRS990/Desc0RESEARCH, EDUCATION, AND ADVOCACY TO ENSURE THE INTEGRITY OF THE HORSE RACING SPORT AND THE SAFETY OF ITS PARTICIPANTS.RMTC GOALS:DEVELOP AND RECOMMEND POLICIES AND PROHIBITED PRACTICES, AND ENFORCEMENT STRATEGIES REGARDING THE USE OF MEDICATIONS AND METHODS IN CONNECTION WITH TRAINING AND RACING HORSES.DEVELOP A DURABLE WORKING RELATIONSHIP WITH STATE AND NATIONAL RACING REGULATORY AUTHORITIES AND STAKEHOLDER ORGANIZATIONS BY BECOMING A RESPECTED SOURCE OF UNBIASED INFORMATION ON MEDICATION, TESTING, AND RESEARCH.STIMULATE, FOSTER, AND SOLICIT RESEARCH PROPOSALS TO IDENTIFY, DETECT, AND DETER THE USE OF NOVEL SUBSTANCES AND METHODS REPRESENTING INTEGRITY THREATS THAT ENHANCE OR DIMINISH OR OTHERWISE HAVE THE POTENTIAL TO ALTER ATHLETIC PERFORMANCE.DEFINE THE ETHICAL AND LEGITIMATE USE OF THERAPEUTIC MEDICATIONS AND/OR METHODS AND FORMULATE REASONABLE GUIDELINES CONSISTENT WITH SAID USE.DEVELOP AND RECOMMEND UNIFORM LABORATORY TECHNICAL STANDARDS, PROCEDURES, AND PERFORMANCE SPECIFICATIONS FOR ANALYTICAL METHODS AND INSTRUMENTATION USED IN THE DETECTION OF CONTROLLED MEDICATIONS AND/OR BANNED SUBSTANCES.MAINTAIN OVERSIGHT ON LABORATORY CAPABILITIES AND PERFORMANCE THROUGH THE LABORATORY ACCREDITATION PROGRAM, AUDITS BY INDEPENDENT EXPERTS, AND EXTERNAL QUALITY ASSURANCE PROGRAM SAMPLE TESTING.IDENTIFY AND PROMOTE SECURITY, SURVEILLANCE, AND INTELLIGENCE GATHERING PRACTICES AND TECHNIQUES TO SUPPORT ENFORCEMENT OF MEDICATION CONTROLS AND ANTI-DOPING REGULATIONS.ENGAGE WITH STATE AND FEDERAL REGULATORY AGENCIES TO PREVENT THE SYNTHESIS AND MANUFACTURE, IMPORTATION, PURCHASE AND/OR SALE OF ILLEGAL OR PROHIBITED SUBSTANCES INTENDED FOR USE IN HORSES ENGAGED IN RACING OR TRAINING.DEVELOP AND IMPLEMENT EDUCATIONAL PROGRAMS FOR INDUSTRY STAKEHOLDER ORGANIZATIONS RESPONSIBLE FOR MAINTAINING THE INTEGRITY OF THE SPORT AND THE HEALTH OF ITS PARTICIPANTS.ENGAGE AND COLLABORATE WITH OTHER ORGANIZATIONS REGULATING HORSERACING, OTHER EQUINE SPORTING DISCIPLINES, AND OTHER HUMAN AND ANIMAL SPORT, BOTH DOMESTIC AND INTERNATIONAL, TO ACCOMPLISH OUR MISSION. DISSEMINATE ACCURATE AND TIMELY INFORMATION TO STAKEHOLDER ORGANIZATIONS AND THE RACING PRESS VIA MULTIPLE COMMUNICATION CHANNELS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
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