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.