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Nonprofit · EIN 61-0958300

KENTUCKY RACING HEALTH AND WELFARE FUND INC

Tax-exempt · LOUISVILLE, KY 40208

Financials

$1.2M$1.9M2023$2.3M$1.9M2024$4.3M$1.9M2025
Revenue Expenses · by fiscal year end
Financials of KENTUCKY RACING HEALTH AND WELFARE FUND INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$4,273,428$1,939,913$2,333,515$12,010,515$0$12,010,515
December 31, 2024990$2,287,935$1,915,695$372,240$9,251,079$0$9,251,079
December 31, 2023990$1,178,206$1,925,636-$747,430$8,708,026$0$8,708,026
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$3,907,170
of which government grants
$3,787,322
Program service revenue
$0
Investment income
$366,258
Net gain from sales of assets
$54,813
Other revenue
$0

Expenses

Grants and similar amounts paid
$1,157,238
Compensation of officers, directors and key employees
$142,140
Other salaries and wages
$257,038
Salaries, compensation and benefits (total)
$516,552
Professional fundraising fees
$0
Legal fees
$30,580
Accounting fees
$24,500
Occupancy
$82,531
Travel
$4,234
Program services (functional)
$1,786,376
Management and general (functional)
$153,537

Balance sheet and other

Total assets, start of year
$9,251,079
Total assets, end of year
$12,010,515
Total liabilities, end of year
$0
Net assets, end of year
$12,010,515
Land, buildings and equipment
$126,435
Publicly traded securities
$7,207,417
Net assets without donor restrictions
$11,910,480
Net assets with donor restrictions
$100,035
Gross receipts
$5,014,662
Employees
8
Volunteers
0
Year formed
1978
State of legal domicile
KY

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
RICHARD P RIEDELEXECUTIVE DIRECTOR
Trustee or director
40$142,140$10,177
RICK HILESCHAIRMAN
Trustee or director, Officer
0$0$0
CAROL HEBELSECRETARY
Trustee or director, Officer
0$0$0
BURR TRAVISTREASURER
Trustee or director, Officer
0$0$0
RANDY SCHEENVICE CHAIRMAN
Trustee or director, Officer
0$0$0
DONNA WARDDIRECTOR
Trustee or director
0$0$0
DALE ROMANSDIRECTOR
Trustee or director
0$0$0
990 for the year ended December 31, 2024: 7 people
NameTitleHours / weekCompensationOther / benefits
RICHARD P RIEDELEXECUTIVE DIRECTOR
Trustee or director
40$169,321$12,577
RICK HILESCHAIRMAN
Trustee or director, Officer
0$0$0
CAROL HEBELSECRETARY
Trustee or director, Officer
0$0$0
BURR TRAVISTREASURER
Trustee or director, Officer
0$0$0
RANDY SCHEENVICE CHAIRMAN
Trustee or director, Officer
0$0$0
DONNA WARDDIRECTOR
Trustee or director
0$0$0
MARK BACONDIRECTOR
Trustee or director
0$0$0
990 for the year ended December 31, 2023: 8 people
NameTitleHours / weekCompensationOther / benefits
RICHARD P RIEDELEXECUTIVE DIRECTOR
Trustee or director
40$162,019$11,987
RICK HILESCHAIRMAN
Trustee or director, Officer
0$0$0
CAROL HEBELSECRETARY
Trustee or director, Officer
0$0$0
RANDY SCHEENTREASURER
Trustee or director, Officer
0$0$0
FRANK JONES DECEASEDVICE CHAIRMAN
Trustee or director, Officer
0$0$0
BURR TRAVISDIRECTOR
Trustee or director
0$0$0
DONNA WARDDIRECTOR
Trustee or director
0$0$0
MARK BACONDIRECTOR
Trustee or director
0$0$0

Address and contacts

Address (IRS master file)
422 HEYWOOD AVE, LOUISVILLE, KY 40208-1346
Principal officer (990 for 2025)
KAREN PEHLKE, 422 HEYWOOD AVENUE, LOUISVILLE, KY 40208
Signed the 990
KAREN PEHLKE, EXECUTIVE DIRECTOR
Phone
(502) 576-2878
Return prepared by
MONROE SHINE & CO INC CPA'S

Mission

TO PROVIDE EXCLUSIVELY FOR THE BENEFIT, AID, RELIEF, AND ASSISTANCE OF THE RACING PERSONNEL EMPLOYED IN CONNECTION WITH HORSE RACING WHO CAN DEMONSTRATE THEIR NEED FOR FINANCIAL ASSISTANCE.

990 for the year ended December 31, 2025

Program accomplishments

  • THE FUND IS ORGANIZED FOR THE BENEFIT, AID, RELIEF, AND ASSISTANCE TO RACING PERSONNEL EMPLOYED IN CONNECTION WITH HORSE RACING WHO CAN DEMONSTRATE THEIR NEED FOR ASSISTANCE.
    Expenses $1,682,734 · grants $1,053,596
  • GRANT TO KENTUCKY RACE TRACK RETIREMENT PLAN TO PROVIDE RETIREMENT BENEFITS TO RACING PERSONNEL EMPLOYED IN CONNECTION WITH HORSE RACING.
    Expenses $103,642 · grants $103,642

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990 on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
61-0958300
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1980
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$12,010,515
Income (IRS master file)
$5,014,662

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025$4,273,428$1,939,913$12,010,515XML
990December 2024$2,287,935$1,915,695$9,251,079IRS
990December 2023$1,178,206$1,925,636$8,708,026XML
990December 2022$1,501,799$1,730,279$8,469,502IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 61-0958300).

Questions about KENTUCKY RACING HEALTH AND WELFARE FUND INC

What is the EIN of KENTUCKY RACING HEALTH AND WELFARE FUND INC?
The employer identification number (EIN) of KENTUCKY RACING HEALTH AND WELFARE FUND INC is 61-0958300.
Is KENTUCKY RACING HEALTH AND WELFARE FUND INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1980.
Are donations to KENTUCKY RACING HEALTH AND WELFARE FUND INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does KENTUCKY RACING HEALTH AND WELFARE FUND INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of KENTUCKY RACING HEALTH AND WELFARE FUND INC due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did KENTUCKY RACING HEALTH AND WELFARE FUND INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2025.
Who is the principal officer of KENTUCKY RACING HEALTH AND WELFARE FUND INC?
The 990 for the year ended December 31, 2025 names KAREN PEHLKE.
Who are the officers and directors of KENTUCKY RACING HEALTH AND WELFARE FUND INC?
The 990 for the year ended December 31, 2025 lists 7 people; 1 received compensation from the organization, the highest $142,140 (RICHARD P RIEDEL, EXECUTIVE DIRECTOR).
How much revenue does KENTUCKY RACING HEALTH AND WELFARE FUND INC have?
On its 990 for the year ended December 31, 2025 it reported revenue of $4,273,428, expenses of $1,939,913 and total assets of $12,010,515 at year end.

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