Nonprofit · EIN 61-1034871
KENTUCKY THOROUGHBRED ASSOCIATION INC
Tax-exempt · LEXINGTON, KY 40511
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $1,323,940 | $873,364 | $450,576 | $897,478 | $3,497 | $893,981 |
| June 30, 2024 | 990 | $842,249 | $860,243 | -$17,994 | $852,998 | $11,288 | $841,710 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $840,396
- Investment income
- $483,544
- Net gain from sales of assets
- $468,161
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $121,998
- Compensation of officers, directors and key employees
- $154,783
- Other salaries and wages
- $125,345
- Salaries, compensation and benefits (total)
- $318,297
- Professional fundraising fees
- $0
- Legal fees
- $39,646
- Accounting fees
- $22,539
- Occupancy
- $6,300
- Travel
- $26,607
- Depreciation
- $1,346
- Program services (functional)
- $569,205
- Management and general (functional)
- $304,159
Balance sheet and other
- Total assets, start of year
- $852,998
- Total assets, end of year
- $897,478
- Total liabilities, end of year
- $3,497
- Net assets, end of year
- $893,981
- Land, buildings and equipment
- $3,590
- Publicly traded securities
- $169,556
- Net assets without donor restrictions
- $893,981
- Gross receipts
- $1,669,011
- Employees
- 4
- Volunteers
- 37
- Year formed
- 1983
- 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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| CHAUNCEY MORRIS | EXECUTIVE DIRECTOR Officer | 20 | $130,363 | $126,143 | $43,562 |
| BILL DAUGHERTY | PRESIDENT Trustee or director | 1 | $0 | $0 | $0 |
| NED TOFFEY | VICE PRESIDENT Trustee or director | 1 | $0 | $0 | $0 |
| WALKER HANCOCK | SECRETARY Trustee or director | 1 | $0 | $0 | $0 |
| DERMOT RYAN | TREASURER Trustee or director | 1 | $0 | $0 | $0 |
| J E STEPHEN HORN | ASSISTANT TREASURER Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL BANAHAN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CONRAD BANDOROFF | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| D WHITWORTH BECKMAN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| PRICE BELL | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CRAIG BROGDEN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| STUART E BROWN II DVM | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| KELSEY DANNER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| THOMAS DRURY JR | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| FERGUS GALVIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
23 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ROWLAND HANCOCK | DIRECTOR Trustee or director | 1 | $0 |
| AUSTIN LUTTRELL | DIRECTOR Trustee or director | 1 | $0 |
| PAUL J MCGEE | DIRECTOR Trustee or director | 1 | $0 |
| DR NATANYA NIEMAN | DIRECTOR Trustee or director | 1 | $0 |
| NEIL PESSIN | DIRECTOR Trustee or director | 1 | $0 |
| KIM SMITH | DIRECTOR Trustee or director | 1 | $0 |
| MICHAEL J SNYDER | DIRECTOR Trustee or director | 1 | $0 |
| JEFFERY D THORNBURY | DIRECTOR Trustee or director | 1 | $0 |
| CHRISTOPHER L BAKER | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| CLIFFORD BARRY | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| JAMES G BELL | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| DELL HANCOCK | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| NEIL HOWARD | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| WILLIAM LS LANDES III | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| BRAXTON LYNCH | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| POPE MCLEAN JR | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| GARRETT O'ROURKE | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| FRANK PENN | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| R ALEX RANKIN | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| DON M ROBINSON | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| FREDERICK J SEITZ | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| JOSEPH SEITZ | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
| R ERIC WALDMAN | DIRECTOR EMERITUS Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 35 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| CHAUNCEY MORRIS | EXECUTIVE DIRECTOR Officer | 20 | $130,990 | $126,990 | $40,614 |
| CHRISTOPHER BAKER | PRESIDENT Trustee or director | 1 | $0 | $0 | $0 |
| WALKER HANCOCK | VICE PRESIDENT Trustee or director | 1 | $0 | $0 | $0 |
| BILL DAUGHERTY | SECRETARY Trustee or director | 1 | $0 | $0 | $0 |
| DERMOT RYAN | TREASURER Trustee or director | 1 | $0 | $0 | $0 |
| J STEPHEN HORN | ASSISTANT TREASURER Trustee or director | 1 | $0 | $0 | $0 |
| JAMES E BAKER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL BANAHAN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CRAIG BANDOROFF | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| PRICE BELL | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| STUART E BROWN II DVM | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| PATRICK COSTELLO | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| THOMAS DRURY JR | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| FERGUS GALVIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ANNE ARCHER HINKLE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| PAUL J MCGEE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| NEIL PESSIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| KIM SMITH | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| T WAYNE SWEEZEY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JEFFERY D THORNBURY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| NED TOFFEY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CLIFFORD BARRY | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
| JAMES BELL | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
| DARRELL BROWN | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
| WADDELL W HANCOCK II | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
| NEIL HOWARD | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
| WILLIAM LS LANDERS III | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
| GARRETT O'ROURKE | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
| FRANK PENN JR | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
| R ALEX RANKIN | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
| DON M ROBINSON | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
| FREDERICK J SEITZ | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
| R ERIC WALDMAN | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
| JOSEPH SEITZ | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
| BRAXTON LYNCH | DIRECTOR EMERITUS Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 4079 IRON WORKS PKWY, LEXINGTON, KY 40511-8512
- Principal officer (990 for 2024)
- CHAUNCEY MORRIS, 4079 IRON WORKS PARKWAY, LEXINGTON, KY 40511
- Signed the 990
- CHAUNCEY MORRIS, EXECUTIVE DIRECTOR
- Phone
- (859) 381-1414
- Website
- WWW.KTA-KTOB.COM
- Return prepared by
- DEAN DORTON ALLEN FORD PLLC
Mission
TO ADVERTISE, FOSTER AND PROMOTE THE THOROUGHBRED HORSE INDUSTRY IN THE COMMONWEALTH OF KENTUCKY
Program accomplishments
- KTA PROMOTED THE THOROUGHBRED HORSE INDUSTRY AND, IN GENERAL, ASSISTED, PROMOTED, AND ENCOURAGED COOPERATIVE EFFORT AMONG RACETRACKS, TRAINERS, AND OWNERS FOR THE BENEFIT OF THE INDUSTRY.Expenses $569,205 · grants $121,998 · revenue $840,396
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 61-1034871
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1984
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $897,478
- Income (IRS master file)
- $1,669,011
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $1,323,940 | $873,364 | $897,478 | XML |
| 990 | June 2024 | $842,249 | $860,243 | $852,998 | XML |
| 990 | June 2023 | $758,534 | $714,593 | $920,969 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 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 61-1034871).
Questions about KENTUCKY THOROUGHBRED ASSOCIATION INC
- What is the EIN of KENTUCKY THOROUGHBRED ASSOCIATION INC?
- The employer identification number (EIN) of KENTUCKY THOROUGHBRED ASSOCIATION INC is 61-1034871.
- Is KENTUCKY THOROUGHBRED ASSOCIATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1984.
- Are donations to KENTUCKY THOROUGHBRED ASSOCIATION INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does KENTUCKY THOROUGHBRED ASSOCIATION 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 THOROUGHBRED ASSOCIATION INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did KENTUCKY THOROUGHBRED ASSOCIATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of KENTUCKY THOROUGHBRED ASSOCIATION INC?
- The 990 for the year ended June 30, 2025 names CHAUNCEY MORRIS.
- Who are the officers and directors of KENTUCKY THOROUGHBRED ASSOCIATION INC?
- The 990 for the year ended June 30, 2025 lists 38 people; 1 received compensation from the organization, the highest $130,363 (CHAUNCEY MORRIS, EXECUTIVE DIRECTOR).
- How much revenue does KENTUCKY THOROUGHBRED ASSOCIATION INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $1,323,940, expenses of $873,364 and total assets of $897,478 at year end.
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