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Nonprofit · EIN 47-0721298

NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC

Also known as NEBRASKA HBPA INC

Tax-exempt · LINCOLN, NE 68523

Financials

$2.4M$1.7M2023$3.4M$2.1M2024
Revenue Expenses · by fiscal year end
Financials of NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$3,359,939$2,077,124$1,282,815$23,023,896$13,246,497$9,777,399
December 31, 2023990$2,358,405$1,673,300$685,105$21,197,554$12,702,970$8,494,584
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$0
Investment income
$16,591
Net rental income
$5,518,664
Net income from gaming
-$2,337,391
Net income from sales of inventory
$2,806
Other revenue
$3,343,348

Expenses

Grants and similar amounts paid
$20,649
Benefits paid to members
$65,000
Compensation of officers, directors and key employees
$144,415
Other salaries and wages
$387,867
Salaries, compensation and benefits (total)
$601,824
Professional fundraising fees
$0
Legal fees
$21,551
Accounting fees
$19,597
Occupancy
$6,200
Travel
$14,241

Balance sheet and other

Total assets, start of year
$21,197,554
Total assets, end of year
$23,023,896
Total liabilities, end of year
$13,246,497
Net assets, end of year
$9,777,399
Land, buildings and equipment
$19,499,403
Net assets without donor restrictions
$9,777,399
Gross unrelated business income
$3,174,232
Gross receipts
$11,222,838
Employees
56
Volunteers
0
Year formed
1987
State of legal domicile
NE

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.

NameTitleHours / weekCompensationOther / benefits
LYNNE MCNALLYCHIEF EXECUTIVE OFFICER
Officer
40$246,444$13,448
LORI THOMASSECRETARY/TREASURER/COO
Trustee or director, Officer
40$185,662$11,714
DAVID ANDERSONVICE PRESIDENT
Trustee or director, Officer
0$0$0
GERALD WOLLESENPRESIDENT
Trustee or director, Officer
0$0$0
BLAINE ADAMSDIRECTOR
Trustee or director
0$0$0
CHAD MCKAYDIRECTOR
Trustee or director
0$0$0
DALTON DIETERDIRECTOR
Trustee or director
0$0$0
GENE MCCLOUDDIRECTOR
Trustee or director
0$0$0
MARISSA BLACKDIRECTOR
Trustee or director
0$0$0
MARK LEMBERGDIRECTOR
Trustee or director
0$0$0
MONTE HEHNKEDIRECTOR
Trustee or director
0$0$0
NICK FUDGEDIRECTOR
Trustee or director
0$0$0
STEVE HALLDIRECTOR
Trustee or director
0$0$0
990 for the year ended December 31, 2023: 13 people
NameTitleHours / weekCompensationOther / benefits
LYNNE MCNALLYCHIEF EXECUTIVE OFFICER
Officer
40$183,021$11,887
LORI THOMASSECRETARY/TREASURER/COO
Trustee or director, Officer
40$147,308$6,000
DAVID ANDERSONVICE PRESIDENT
Trustee or director, Officer
0$0$0
GERALD WOLLESENPRESIDENT
Trustee or director, Officer
0$0$0
BLAINE ADAMSDIRECTOR
Trustee or director
0$0$0
CHAD MCKAYDIRECTOR
Trustee or director
0$0$0
DALTON DIETERDIRECTOR
Trustee or director
0$0$0
GENE MCCLOUDDIRECTOR
Trustee or director
0$0$0
MARISSA BLACKDIRECTOR
Trustee or director
0$0$0
MARK LEMBERGDIRECTOR
Trustee or director
0$0$0
MONTE HEHNKEDIRECTOR
Trustee or director
0$0$0
NICK FUDGEDIRECTOR
Trustee or director
0$0$0
STEVE HALLDIRECTOR
Trustee or director
0$0$0

Address and contacts

Address (IRS master file)
7440 SW 12TH ST, LINCOLN, NE 68523-9430
In care of
% LYNNE MCNALLY
Principal officer (990 for 2024)
GARALD WOLLESEN, 7055 S 1ST ST, LINCOLN, NE 68512
Signed the 990
GERALD WOLLESEN, PRESIDENT
Phone
(402) 802-4467
Return prepared by
Forvis Mazars LLP

Mission

THE PURPOSES OF THE ASSOCIATION ARE AS FOLLOWS: TO FOSTER, PROMOTE, AND OTHERWISE ENCOURAGE A HEALTHIER ECONOMIC CLIMATE AND A HIGHER LEVEL OF PUBLIC ACCEPTANCE OF THE THOROUGHBRED HORSE INDUSTRY IN THE STATE OF NEBRASKA AND BETTER RELATIONS AMONG PARTICIPANTS. TO PROTECT THE SAFETY (CONTINUED ON SCHEDULE O)

990 for the year ended December 31, 2024

Program accomplishments

  • FURTHERING THOROUGHBRED RACING ACTIVITIES IN NEBRASKA THROUGH CASH SUPPLEMENTS AT ALL THE NEBRASKA RACETRACKS.
  • PROVIDING MEMBER BENEFITS SUCH AS MEDICAL, FUNERAL, AND BACKSIDE BENEFITS.

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, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
47-0721298
Tax-exempt status
501(c)(6): Business league or chamber of commerce
Donations deductible
No
Exempt since
1993
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$23,023,896
Income (IRS master file)
$11,222,838

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$3,359,939$2,077,124$23,023,896IRS
990December 2023$2,358,405$1,673,300$21,197,554XML
990December 2022$1,216,383$901,220$16,589,886IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––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 47-0721298).

Questions about NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC

What is the EIN of NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC?
The employer identification number (EIN) of NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC is 47-0721298.
Is NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1993.
Are donations to NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE 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 NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE 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 NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE 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 NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC?
The 990 for the year ended December 31, 2024 names GARALD WOLLESEN.
Who are the officers and directors of NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC?
The 990 for the year ended December 31, 2024 lists 13 people; 2 received compensation from the organization, the highest $246,444 (LYNNE MCNALLY, CHIEF EXECUTIVE OFFICER).
How much revenue does NEBRASKA HORSEMENS BENEVOLENT & PROTECTIVE ASSOCIATION INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $3,359,939, expenses of $2,077,124 and total assets of $23,023,896 at year end.

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