Nonprofit · EIN 22-2904953
NEW JERSY THOROUBRED HORESMANS BENEVOLENT ASSOCIATION INC
Tax-exempt · OCEANPORT, NJ 07757
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $898,338 | $2,166,844 | -$1,268,506 | $167,693 | $414,812 | -$247,119 |
| December 31, 2023 | 990 | $970,541 | $5,064,839 | -$4,094,298 | $10,926,089 | $68,604,055 | -$57,677,966 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $11
- Net rental income
- $12,196
- Other revenue
- $898,327
Expenses
- Grants and similar amounts paid
- $15,000
- Compensation of officers, directors and key employees
- $195,000
- Salaries, compensation and benefits (total)
- $241,619
- Professional fundraising fees
- $0
- Accounting fees
- $350
- Depreciation
- $855,539
- Program services (functional)
- $1,545,979
- Management and general (functional)
- $620,865
Balance sheet and other
- Total assets, start of year
- $10,926,089
- Total assets, end of year
- $167,693
- Total liabilities, end of year
- $414,812
- Net assets, end of year
- -$247,119
- Net assets without donor restrictions
- -$247,119
- Gross receipts
- $898,338
- Employees
- 1
- Volunteers
- 0
- Year formed
- 1988
- State of legal domicile
- NJ
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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL A MUSTO | EXEC. DIRECTOR Trustee or director, Highest-paid employee | 40 | $195,000 |
| PAT MCBURNEY | PRESIDENT Trustee or director, Officer | 0 | $0 |
| TIMOTHY HILLS | VICE PRESIDENT Trustee or director, Officer | 0 | $0 |
| DOMINIC J BOSSONE | DIRECTOR Trustee or director | 0 | $0 |
| JAMES CAHILL | DIRECTOR Trustee or director | 0 | $0 |
| BOB MATTHIES | DIRECTOR Trustee or director | 0 | $0 |
| THOMAS SWALES | DIRECTOR Trustee or director | 0 | $0 |
| BENJAMIN PERKINS JR | DIRECTOR Trustee or director | 0 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MICHAEL A MUSTO | EXEC. DIRECTOR Trustee or director, Highest-paid employee | 40 | $195,000 |
| PAT MCBURNEY | PRESIDENT Trustee or director, Officer | 0 | $0 |
| TIMOTHY HILLS | VICE PRESIDENT Trustee or director, Officer | 0 | $0 |
| DOMINIC J BOSSONE | DIRECTOR Trustee or director | 0 | $0 |
| JAMES CAHILL | DIRECTOR Trustee or director | 0 | $0 |
| BOB MATTHIES | DIRECTOR Trustee or director | 0 | $0 |
| THOMAS SWALES | DIRECTOR Trustee or director | 0 | $0 |
| BENJAMIN PERKINS JR | DIRECTOR Trustee or director | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 175 OCEANPORT AVE, OCEANPORT, NJ 07757-1231
- Principal officer (990 for 2024)
- MICHAEL MUSTO EXEC DIR, 175 OCEANPORT AVE, OCEANPORT, NJ 07757
- Signed the 990
- MICHAEL MUSTO, EXECUTIVE DIRECTOR
- Phone
- (732) 996-8796
- Return prepared by
- BRM PROFESSIONAL GROUP LLC
Mission
NJTHA, INC. REPRESENTS THOROUGHBRED OWNERS AND TRAINERS INTERESTS IN THE STATE OF NJ SPECIFICALLY TO IMPROVE RACING AND PROMOTE THE COMMON BUSINESS INTERESTS OF THE SPORT.
Program accomplishments
- NJTHA, INC. REPRESENTS THOROUGHBRED OWNERS AND TRAINERS INTERESTS IN THE STATE OF NJ SPECIFICALLY TO IMPROVE RACING CONDITIONS IN THE THOROUGHBRED INDUSTRY FOR ALL HORSEMEN AND THEIR EMPLOYEES AND PROMOTE THE COMMON BUSINESS INTEREST OF THE MEMBERS IN MATTERS BEFORE GOVERNMENT AGENCIES, THE MANAGEMNT OF NJ THOROUGHBRED RACETRACKS AND OTHER INDUSTRY RELATED ORGANIZATIONS. THE NJTHA RECEIVES SUBSTANTIALLY ALL OF ITS REVENUE FROM NJ HORSE RACING TRACKS.
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 22-2904953
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1992
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $167,693
- Income (IRS master file)
- $898,338
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $898,338 | $2,166,844 | $167,693 | IRS |
| 990 | December 2023 | $970,541 | $5,064,839 | $10,926,089 | XML |
| 990 | December 2022 | $6,386,544 | $5,795,794 | $11,717,110 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 22-2904953).
Questions about NEW JERSY THOROUBRED HORESMANS BENEVOLENT ASSOCIATION INC
- What is the EIN of NEW JERSY THOROUBRED HORESMANS BENEVOLENT ASSOCIATION INC?
- The employer identification number (EIN) of NEW JERSY THOROUBRED HORESMANS BENEVOLENT ASSOCIATION INC is 22-2904953.
- Is NEW JERSY THOROUBRED HORESMANS BENEVOLENT ASSOCIATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1992.
- Are donations to NEW JERSY THOROUBRED HORESMANS BENEVOLENT ASSOCIATION INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does NEW JERSY THOROUBRED HORESMANS BENEVOLENT 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 NEW JERSY THOROUBRED HORESMANS BENEVOLENT ASSOCIATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEW JERSY THOROUBRED HORESMANS BENEVOLENT ASSOCIATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of NEW JERSY THOROUBRED HORESMANS BENEVOLENT ASSOCIATION INC?
- The 990 for the year ended December 31, 2024 names MICHAEL MUSTO EXEC DIR.
- Who are the officers and directors of NEW JERSY THOROUBRED HORESMANS BENEVOLENT ASSOCIATION INC?
- The 990 for the year ended December 31, 2024 lists 8 people; 1 received compensation from the organization, the highest $195,000 (MICHAEL A MUSTO, EXEC. DIRECTOR).
- How much revenue does NEW JERSY THOROUBRED HORESMANS BENEVOLENT ASSOCIATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $898,338, expenses of $2,166,844 and total assets of $167,693 at year end.
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