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Treasurer's Report

Treasurer's Report
Illinois Thoroughbred Horsemen's Association, Inc. 
For the Year Ending December 31, 2016
Modified Cash Basis

 Revenue:
               Arlington Park $798,730
               Hawthorne Race Course       297,499
               Interest Income   413
Total Revenue       1,096,642
Expenses:  
               Association Dues             80,769
               Claiming Insurance
 6,250
               Contributions to Charitable Orgs.   5,370
               Conventions & Seminars  7,268
               Depreciation Expense  19,234
               Election*  21,553
               Horsemen's Bookkeeper  134,646
               Industry Donations   50,000
               Insurance  55,680
               Maintenance & Repairs 15,871
               Membership Costs - Other  12,515
               Membership Events   16,265
               Membership Meetings   10,479
               Office Expenses 30,274
               Payroll Taxes   21,922
               Professional Fees  277,333
               Public Relations and Lobbying  177,349
               Salaries  267,040
               Telephone and On-Line Access    25,650
               Travel & Lodging 23,650

          Total Expenses
 
                 1,259,118
 
Net Income (Loss)

   $ (162,476)
___________
 
* Outsourced to CPA to manage, maintain independence, and provide verification.
 

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