Civic Intelligence

Thoroughbred Idea Foundation Inc

990EZ • Fiscal year 2020 • EIN 83-1814280

Jan 01, 2020 to Dec 31, 2020 • Filed on Feb 27, 2021

Organization ProfileRACINGTHINKTANK.COM
5001 SW 27th AveOcala, FL 34471

(859) 233-4146

Siviq Scores

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

Liabilities / Assets

45th percentile

0.00x

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

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

Liabilities / Revenue

45th percentile

0.00x

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

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

Net Margin

11th percentile

-49%

Higher net margin than 11% 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

3rd percentile

-69%

Faster asset growth than 3% of similar nonprofits.

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

Revenue Growth

28th percentile

-41%

Faster revenue growth than 28% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets45th percentile

Assets

Down

$12,851

Down $28,046 (-69%) from 2019

Net Assets

$12,851

No earlier filing loaded for comparison.

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue45th percentileNet Margin11th percentile

Revenue

Down

$57,500

Down $39,500 (-41%) from 2019

Expenses

Up

$85,546

Up $29,443 (+52%) from 2019

Net Income

Down

-$28,046

Down $68,943 (-169%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$60K$40K$20K$0Assets 2019: $40,897Liabilities 2019: $02019Assets 2020: $12,851Liabilities 2020: $0Net Assets 2020: $12,8512020

Highlighted filing

2020

Assets$12,851
Liabilities$0
Net Assets$12,851
Open 2020 Filing

Operations Trend

Revenue Growth28th percentile

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

$100K$50K$0-$50KRevenue 2019: $97,000Expenses 2019: $56,103Net Income 2019: $40,8972019Revenue 2020: $57,500Expenses 2020: $85,546Net Income 2020: -$28,0462020

Highlighted filing

2020

Revenue$57,500
Expenses$85,546
Net Income-$28,046
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Feb 27, 2021
Return Version
2020v4.0
Gross Receipts
$57,500
Mission and Program Overview

Mission

The thoroughbred idea foundation aims to improve the thoroughbred racing industry for all stakeholders, especially its primary customers - gamblers and owners - through the exchange, curation and advocacy of sound, data-driven ideas, shared with and implemented by the sport's existing entities.

Program Services

DescriptionGrantsExpenses
TO IMPROVE THE THOROUGHBRED RACING INDUSTRY FOR ALL STAKEHOLDERS, ESPECIALLY ITS PRIMARY CUSTOMERS - GAMBLERS AND OWNERS - THROUGH THE EXCHANGE, CURATION AND ADVOCACY OF SOUND, DATA-DRIVEN IDEAS, SHARED WITH AND IMPLEMENTED BY THE SPORT'S EXISTING ENTITIES.$0$85,546
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
CRAIG BERNICKDirector-$0--
CATHERINE DONOVANDirector-$0--
LESLEY HOWARDDirector-$0--
COREY JOHNSENDirector-$0--
PAUL MATTIESDirector-$0--
JUSTIN NICHOLSONDirector-$0--
TOM REYNOLDSDirector-$0--
GARY STEVENSDirector-$0--
JACK WOLFDirector-$0--
DONNA BROTHERSDirector-$0--
MARSHALL GRAMMDirector-$0--
MICHAEL LEVYDirector-$0--
Filing and Contact Details

Filer

Filer Name
Thoroughbred Idea Foundation Inc
EIN
83-1814280
Phone
8592334146
Address
5001 SW 27TH AVE, OCALA, FL 34471

Signing Officer

Name
Patrick Cummings
Title
Executive Director
Phone
8592334146
Signed
2021-02-27
Discuss with paid preparer
Yes

Preparer

Firm
Radwan Brown & Company Psc
Address
2421 MEMBERS WAY, LEXINGTON, KY 40504
Preparer
Troy Mulligan
Phone
8592334146
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16 - Other Expenses

“Description: travel expense. Amount: 7,551. Description: conference expenses. Amount: 500. Description: insurance. Amount: 7,682. Description: bank fees. Amount: 45. Description: advertising. Amount: 2,902. Description: website hosting fees. Amount: 300. Description: bonus payment. Amount: 20,000. Total to form 990-ez, line 16: 38,980.”

Raw XML Appendix162 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
IRS990EZ/ActivitiesNotPreviouslyRptInd00
IRS990EZ/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0THOROUGHBRED IDEA FOUNDATION INC
IRS990EZ/BooksInCareOfDetail/PhoneNum08592334146
IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt0250 W MAIN ST STE 2300
IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0LEXINGTON
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0KY
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd040507
IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt040897
IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt012851
IRS990EZ/ChgMadeToOrgnzngDocNotRptInd00
IRS990EZ/ContributionsGiftsGrantsEtcAmt057500
IRS990EZ/DirectIndirectPltclExpendAmt00
IRS990EZ/DonorAdvisedFndsInd00
IRS990EZ/ExcessOrDeficitForYearAmt0-28046
IRS990EZ/FeesAndOtherPymtToIndCntrctAmt040584
IRS990EZ/ForeignFinancialAccountInd00
IRS990EZ/ForeignOfficeInd00
IRS990EZ/Form990TotalAssetsGrp/BOYAmt040897
IRS990EZ/Form990TotalAssetsGrp/EOYAmt012851
IRS990EZ/GrossReceiptsAmt057500
IRS990EZ/InfoInScheduleOPartIIIInd0X
IRS990EZ/InfoInScheduleOPartIInd0X
IRS990EZ/InfoInScheduleOPartVInd0X
IRS990EZ/MadeLoansToFromOfficersInd00
IRS990EZ/MethodOfAccountingCashInd0X
IRS990EZ/NetAssetsOrFundBalancesBOYAmt040897
IRS990EZ/NetAssetsOrFundBalancesEOYAmt012851
IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt040897
IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt012851
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt00.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt10.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt20.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt30.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt40.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt50.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt60.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt70.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt80.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt90.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt100.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt110.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt50
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt60
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt70
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt80
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt90
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt100
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt110
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt50
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt60
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt70
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt80
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt90
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt100
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt110
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt50
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt60
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt70
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt80
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt90
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt100
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt110
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0CRAIG BERNICK
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm1CATHERINE DONOVAN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2LESLEY HOWARD
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3COREY JOHNSEN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm4PAUL MATTIES
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm5JUSTIN NICHOLSON
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm6TOM REYNOLDS
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm7GARY STEVENS
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm8JACK WOLF
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm9DONNA BROTHERS
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm10MARSHALL GRAMM
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm11MICHAEL LEVY
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt4DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt5DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt6DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt7DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt8DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt9DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt10DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt11DIRECTOR
IRS990EZ/OperateHospitalInd00
IRS990EZ/Organization501cInd0X
IRS990EZ/OrganizationDissolvedEtcInd00
IRS990EZ/OrganizationHadUBIInd00
IRS990EZ/OtherChangesInNetAssetsAmt00
IRS990EZ/OtherExpensesTotalAmt038980
IRS990EZ/PoliticalCampaignActyInd00
IRS990EZ/PrimaryExemptPurposeTxt0THE THOROUGHBRED IDEA FOUNDATION AIMS TO IMPROVE THE THOROUGHBRED RACING INDUSTRY FOR ALL STAKEHOLDERS, ESPECIALLY ITS PRIMARY CUSTOMERS - GAMBLERS AND OWNERS - THROUGH THE EXCHANGE, CURATION AND ADVOCACY OF SOUND, DATA-DRIVEN IDEAS, SHARED WITH AND IMPLEMENTED BY THE SPORT'S EXISTING ENTITIES.
IRS990EZ/PrintingPublicationsPostageAmt05982
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0TO IMPROVE THE THOROUGHBRED RACING INDUSTRY FOR ALL STAKEHOLDERS, ESPECIALLY ITS PRIMARY CUSTOMERS - GAMBLERS AND OWNERS - THROUGH THE EXCHANGE, CURATION AND ADVOCACY OF SOUND, DATA-DRIVEN IDEAS, SHARED WITH AND IMPLEMENTED BY THE SPORT'S EXISTING ENTITIES.
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt00
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt085546
IRS990EZ/ProhibitedTaxShelterTransInd00
IRS990EZ/RelatedOrganizationCtrlEntInd00
IRS990EZ/ScheduleBNotRequiredInd0X
IRS990EZ/StatesWhereCopyOfReturnIsFldCd0KY
IRS990EZ/SubjectToProxyTaxInd00
IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt00
IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt00
IRS990EZ/TanningServicesProvidedInd00
IRS990EZ/TotalExpensesAmt085546
IRS990EZ/TotalProgramServiceExpensesAmt085546
IRS990EZ/TotalRevenueAmt057500
IRS990EZ/TransactionWithControlEntInd00
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990EZ/WebsiteAddressTxt0RACINGTHINKTANK.COM
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: TRAVEL EXPENSE. AMOUNT: 7,551. DESCRIPTION: CONFERENCE EXPENSES. AMOUNT: 500. DESCRIPTION: INSURANCE. AMOUNT: 7,682. DESCRIPTION: BANK FEES. AMOUNT: 45. DESCRIPTION: ADVERTISING. AMOUNT: 2,902. DESCRIPTION: WEBSITE HOSTING FEES. AMOUNT: 300. DESCRIPTION: BONUS PAYMENT. AMOUNT: 20,000. TOTAL TO FORM 990-EZ, LINE 16: 38,980.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES
TransferPrsnlBnftContractsDecl/DeclarationDesc0THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PATRICK CUMMINGS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08592334146
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-02-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THOROUGHBRED IDEA FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0THOR
ReturnHeader/Filer/EIN0831814280
ReturnHeader/Filer/PhoneNum08592334146
ReturnHeader/Filer/USAddress/AddressLine1Txt05001 SW 27TH AVE
ReturnHeader/Filer/USAddress/CityNm0OCALA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd034471
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0611142073
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RADWAN BROWN & COMPANY PSC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02421 MEMBERS WAY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LEXINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd040504
ReturnHeader/PreparerPersonGrp/PhoneNum08592334146
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TROY MULLIGAN
ReturnHeader/ReturnTs02021-03-10T13:54:12-06:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PATRICK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CUMMINGS
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$12,851
Liabilities
$0
Net assets
$12,851
Revenue
$57,500
Expenses
$85,546
Net income
-$28,046
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$12.9$0.00$12.9$57.5$85.5$28.0
2019Summary only. Only limited summary data is available for this year.$40.9$0.00$97.0$56.1$40.9