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Minnesota Thoroughbred Association

Shakopee, MNUnknown exempt organization EIN 41-1476022Revenue $734 in FY2025Latest return filed Jan 26, 2026

On file with the IRSminnesotabred.comShakopee, MN

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Promote interest in breeding and racing Thoroughbred horses in Minnesota

Form 990 Part I, line 1, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 41-1476022) · Dispute this line
Mission: Form 990 Part I, line 1

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $16K a year · 4% of revenue · last 6 filings
A surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$734
-99% vs prior year
Spent
$8K
Net assets
$0
By yearFY2020–FY2025
Revenue
$734
FY2025▼ -99%
Tap a bar for its year
Revenue by fiscal year
FY2020$531K
FY2021$524K
FY2022$586K
FY2023$545K
FY2024$95K
FY2025$734
Expenses
$8K
FY2025▼ -91%
Tap a bar for its year
Expenses by fiscal year
FY2020$575K
FY2021$549K
FY2022$568K
FY2023$586K
FY2024$93K
FY2025$8K
Net assets
$0
FY2025▼ -100%
Tap a bar for its year
Net assets by fiscal year
FY2020$52K
FY2021$27K
FY2022$46K
FY2023$5K
FY2024$8K
FY2025$0

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Mary Green
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Eric Berg
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Honore Bremer
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Dan Flanigan
Treasurer
$0Pt VII · Sec A
See Minnesota Thoroughbred Association executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Encourages breeding and racing of Thoroughbred horses in Minnesota.

Questions for Minnesota Thoroughbred Association

Tap to ask. Minnesota Thoroughbred Association sees how many people are interested.

Your first name shows with your question. Minnesota Thoroughbred Association answers here, for everyone.

2 programs · in their own filed words · FY2025
01

The majority of the membership fees collected provides for a subscription to the industry magazine, "the minnesota thoroughbred journal." the association collects nomination fees and organizes stake races for horse foals in minnesota and yearling auctions.

Form 990 Part III, line 4, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 41-1476022) · Dispute this line
Pt IX · Ln 25 · col B
02

90% of the nomination fees become part of the purses and the the remainder is retained by the association to promote interest in breeding and racing thoroughbred horses in minnesota.

Form 990 Part III, line 4, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 41-1476022) · Dispute this line
Pt IX · Ln 25 · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$734
Ln 12
Other incomeLn 4–11$734
Money outPt IX
$8K
Ln 25
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Other incomeLn 4–11$734
Total revenueLn 12$734
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 51
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$8K$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$8K$0
LiabilitiesLn 26$42$0
Net assetsLn 32$8K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$271
Accounting feesLn 11c$2K
Office expensesLn 13$268
Other expenses (24a–d)Ln 24$6K
Total functional expensesLn 25$8K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS Jan 26, 2026 $734$8K−$8K$0 990 PDF
FY2024Filed with the IRS Jul 14, 2025 $95K$93K$3K$8K 990 PDF
FY2023Filed with the IRS Oct 28, 2024 $545K$586K−$41K$5K 990 PDF
FY2022Filed with the IRS May 19, 2023 $586K$568K$18K$46K 990 PDF
FY2021Filed with the IRS May 25, 2022 $524K$549K−$25K$27K 990 PDF
FY2020Filed with the IRS Jun 8, 2022 $531K$575K−$44K$52K 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2025 990
Part I · Summary $734 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $93,556$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $1,503$734
I-12 Total revenuePrior year $95,059$734
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $33,912$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $58,600$8,274
I-18 Total expensesPrior year $92,512$8,274
I-19 Revenue less expensesPrior year $2,547−$7,540
Part VI · Governance 4 to look at
VI-1a Voting members of the governing body0
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $734 across 2 lines filed
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $734$734
VIII-12 Total revenueRelated to mission $734 · Unrelated business $0 · Excluded from tax $0$734
Part IX · Statement of functional expenses $8,274 across 4 lines filed
IX-11b Legal fees$271
IX-11c Accounting fees$2,235
IX-13 Office expenses$268
IX-24 Other expenses (24a–d)$5,500
IX-25 Total functional expenses$8,274
Part X · Balance sheet $0 assets, 20 lines filed
X-1 Cash, non-interest-bearing$0
X-2 Savings and temporary cash investmentsStart of year $7,582$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-5 Loans to officers and key people$0
X-6 Loans to other insiders$0
X-7 Notes and loans receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $7,582$0
X-26 Total liabilitiesStart of year $42$0
X-27 Net assets without donor restrictionsStart of year $7,540$0
X-32 Total net assets or fund balancesStart of year $7,540$0
X-33 Total liabilities and net assetsStart of year $7,582$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$734
XI-2 Total expenses$8,274
XI-3 Revenue less expenses−$7,540
XI-4 Net assets at start of year$7,540
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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