TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Inspection
Name of the organization
PA THOROUGHBRED HORSEMENS ASSOC INC
Employer identification number
23-2694644
23-2694644
| Return Reference | Explanation |
|---|---|
| Amended return information | COMPANY RECIEVED A FINAL AUDIT REPORT WELL AFTER THE ORIGINAL FINAL FILING DATE OF NOVEMBER 15, 2018 WITH DIFFERENT NUMBERS FROM THE DRAFT REPORT THAT WAS USED TO PREPARE THE ORIGINAL TAX RETURN. THEREFORE, AN AMENDED RETURN IS REQUIRED SINCE SOME OF THE NUMBERS AND COMBINATIONS WERE SIGNIFICANTLY DIFFERENT. |
| Members or stockholder classes and rights Part VI line 6 | THE ORGANIZATION HAS MEMBERS AS DEFINED BY THE BYLAWS. BASCIALLY A MEMBER IS AN OWNER OR A TRAINER HAVING A HORSE OR HORSES RACE IN A CERTAIN NUMBER OF RACES AT THE RACE TRACK WITHIN A DEFINED TIME FRAME. |
| Member election for additional members Part VI line 7a | THE MEMBERS ELECT THE BOARD MEMBERS AND THE PRESIDENT. MANAGMENT OF THE DAY TO DAY AFFAIRS OF THE ENTITIES IS DESIGNATED TO THE BOARD. THE BOARD DESIGNATES DAY TO DAY MANAGMENT TO THE EXECUTIVE DIRECTOR. |
| Governing body decisions Part VI line 7b | MEMBERS DO NOT MAKE ANY DECISIONS OTHER THAN THE ELECTION OF THE BOARD MEMBERS AND THE PRESIDENT. THE BOARD MAKES ALL BINDING DECISIONS FOR THE ORGANZIATION. THE EXECUTIVE DIRECTOR AND THE PRESIDENT ARE ADVISORS TO THE BOARD. CURRENTLY THE EXECUTIVE DIRECTOR IS ALSO CURRENTLY AN ELECTED BOARD MEMBER. HE IS THE BOARD MEMBER DESIGNATED AS NOT INDEPENDENT ON THE 990 SINCE HE A COMPENSATED EMPLOYEE. |
| Governing body meeting documentation Part VI line 8a | ALL BOARD MEETINGS ARE DOCUMENTED BY THE SECRETARY |
| Committee meeting documentation Part VI line 8b | THE BOARD AND OR THE PRESIDENT OR EXECUTIVE DIRECTOR MAY APPOINT COMMITTEES TO ASSIST THEM IN ADMINISTRATING THE AFFAIRS OF THE ORGANIZATION. HOWEVER, NONE OF THESE COMMITTEES HAVE RULE MAKING AUTHORITY. ALL RULE MAKING AUTHORITY IS RESERVED FOR THE BOARD. SUCH COMMITTEES ARE RESPONSIBLE FOR MAINTAINING DOCUMENTATION OF ITS MEETINGS AND RECOMMENDATIONS AND DOES NOT PROVIDE COPIES OF ITS DOCUMENTATION TO THE ADMINISTRATION OFFICE STAFF. |
| Form 990 governing body review Part VI line 11 | THE ORGANIZATION DID SHOW A COPY OF ITS ORIGINALLY FILED 2017 YEAR ENDED FORM 990 TO BOARD MEMBERS EITHER PRIOR TO THE FILING OF THE FORM OR SHORTLY AFTER THE FILING OF THE FORM. THE EXECUTIVE DIRECTOR AND THE CONTROLLER REVIEWED THE ORIGINAL 990 PRIOR TO ITS EFIFING. BOARD MEMBERS WILL BE PROVIDED THE OPPORTUNITY TO REVIEW THE AMENDED COPY OF THE ENTITYS 2017 RETURN AT A FUTURE BOARD MEETING. |
| Conflict of interest policy compliance Part VI line 12c | THE BOARD HAS ESTABLISHED A CONFLICT OF INTEREST POLICY AND HAS INFORMED ALL EMPLOYEES AND DIRECTORS OF THEIR RESPONSIBILITY TO REPORT ANY KNOWN OR POTENTIAL CONFLICTS OF INTEREST TO ANY BOARD MEMBER OR OFFICER AS SOON AS THEY ARE AWARE OF THE CONFLICT OR POTENTIAL CONFLICT. THERE IS AN ANNUAL REQUIREMENT FOR THE BOARD TO DOCUMENT IN WRITING COMPLIANCE WITH THIS POLICY. |
| CEO executive director top management comp Part VI line 15a | DIRECTORS DISCUSS AND APPROVE COMPENSATION. DIRECTORS ATTEMPT TO FIND COMPARABLE COMPENSATION BUT THERE ARE ONLY A HANDFUL OF SIMILAR ENTITIES IN PA. THE EXECUTIVE DIRECTOR (DIRECTOR AND OFFICER) AND SECRETARY (NON DIRECTOR) LEAVE THE MEETING SO DIRECTORS CAN DISCUSS THEIR COMPENSATION PRIVIATELY AND VOTE ON IT. THESE TWO EMPLOYEES ARE THE ONLY COMPENSATED OFFICERS. THE ENTITY PAID $60,000 TO A CORPORTION OWNED 100% BY THE PRESIDENT FOR CONSULTING SERVICES PROVIDED BY HIM TO THE COMPANY. |
| Other officer or key employee compensation Part VI line 15b | THE DIRECTORS APPROVE COMPENSATION FOR THE EXECUTIVE DIRECTOR, SECRETARY AND CONTROLLER. THE CONTROLLER IS A PART TIME EMPLOYEE AND NOT AN OFFICER. IT IS DIFFICULT TO FIND A COMPARABLE ORGANIZATION IN A SIMILAR INDUSTRY IN PA. THE EXECUTIVE DIRECTOR AND BOARD MEMBERS ARE RESPONSIBLE FOR MANAGING THREE SEPARATE ENTITIES RELATED BY COMMON CONTROL. ALL COMPENSATION OF OFFICERS AND DIRECTORS IS PAID FOR BY PA THOROUGHBRED HORSEMENS ASSOCIATION, INC. SOME OF IT IS ALLOCATED TO RELATED ENTITIES AND IS REIMBURSED. THE BOARD BELIEVES THE COMPENSATION IT APPROVES FOR THE EXECUTIVE DIRECTOR,SECRETARY AND PART TIME CONTROLLER IS REASONALBE FOR SERVICES PERFORMED. |
| Governing documents etc available to public Part VI line 19 | THE ORGANIZATION GIVES THE PUBLIC ACCESS TO ITS 990 FORM UPON WRITTEN REQUEST. THE AUDITED FINANCIAL STATEMENTS OF THE ORGANIZATION ARE POSTED BY REGULATORY AGENCIES OF PA TO ITS WEBSITE AND CAN BE ACCESSED BY THE PUBLIC. IT DOES NOT MAKE PUBLIC ITS GOVERNING POLICIES OR CONFLICT OF INTEREST DOCUMENTS AND PROCEEDURES. IF IT EVER RECEIVES A WRITTEN REQUEST FOR SUCH INFORMATION A BOARD MEETING WOULD BE SCHEDULED TO DISCUSS A RESPONSE. |
| Not undergone required audits or steps for audit part XII line 3b | BECAUSE THE ENTITY RECEIVES ALMOST ALL OF ITS FUNDING FROM GAMING REVENUES REGULATED BY THE STATE FO PA, A DIVISION OF PA SELECTS THE AUDITING FIRM THE COMPANY MUST USE AND PAY FOR. SINCE THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS MEMBERSHIP RULES AND THE PA CPA LICENSING DIVISION RULES REQUIRE THE AUDITING FIRM TO BE INDEPENDENT, THE BOD ACQUIESCES TO THE SELECTION. THE COMPANY DOES NOT APPOINT A SEPARATE COMMITTEE TO OVERSEE THIS PROCESS. THE AUDIT PROCESS IS OVERSEEN BY THE EXECUTIVE DIRECTOR, CONTROLLER AND PRESIDENT. THE AUDITING FIRM DELIVERED THE FINAL REPORT VERSION LONG AFTER THE ORIGINAL DUE DATE THUS THE REASON FOR AN AMENDED RETURN SINCE THE FINAL REPORT TOTALS WERE DIFFERENT THAN THE TOTALS FROM THE DRAFT USED TO PREPARE THE ORIGINAL RETURN. |
| List of other fees for services expenses Part IX line 11g | SEE OVERFLOW STATEMENT WHICH INCLUDES DETAILS OF OTHER FEES FOR SERVICES EXPENSES OF $200,360, $191,177 AND $9,183. |
| List of other expenses Part IX line 24e | SEE THE LIST OF OTHER ADMINISTRATIVE COSTS ON THE OVERFLOW STATEMENT TOTALING $398,041, $392,466 and $5,575. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2019
Additional Data
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