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Retired Racehorse Project Ltd

EIN 27-1622725 · Edgewater, MD

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak29 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO FACILITATE THE PLACEMENT OF RETIRED THOROUGHBRED RACEHORSES IN SECOND CAREERS BY EDUCATING THE PUBLIC ABOUT THE HISTORY, DISTINCTIVE CHARACTERISTCS, VERSATILITY OF USE AND APPROPRIATE CARE AND TRAINING OF THE ICONIC AMERICAN THOROUGHBRED.

Income
$767,897
Spending
$788,880
Spent on programs
67%
Reserves
0.1 months of spending
Largest source of income
donations and private grants, 96%
Employees
8
Volunteers
150
Highest pay
$84,080, executive director-non-vot

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 29 out of 100. Higher than 2% of charities in its peer group (animals, $250k to $1m).

  • Reserves

    4 of 35

    Spendable reserves would cover 0.1 months of spending.

  • Debt

    2 of 20

    It owes 90% of what it owns.

  • Living within its means

    8 of 15

    Spending exceeded income by 3% of income.

  • Income trend

    0 of 15

    Income fell 25% on the year before.

  • Spending floor

    15 of 15

    67% of spending went to programs and raising each dollar of donations cost 16 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 98% of charities in its peer group (animals, $250k to $1m).

  • Independent board

    25 of 25

    9 of 9 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $378,326 spent. THE THOROUGHBRED MAKEOVER AND NATIONAL SYMPOSIUM IS THE ORGANIZATION'S FLAGSHIP PROGRAM, WHICH IS THE MOST LUCRATIVE RETRAINING COMPETITION FOR RECENTLY RETIRED THOROUGHBRED RACEHORSES AND BROODMARES. APPROVED PARTICIPANTS PREPARE ELIGIBLE HORSES OVER THE COURSE OF THE YEAR, CULMINATING IN A 10-DISCIPLINE HORSE SHOW WHICH SHOWCASES THE TRAINABILITY AND VERSATILITY OF THE BREED AND ALSO SERVES AS THE ONLY NATIONAL GATHERING FOR THOSE WORKING IN THE AFTERCARE INDUSTRY. THE MAKEOVER SETS HIGH STANDARDS OF HORSEMANSHIP AND SUPPORTS PARTICIPANTS IN ACHIEVING THOSE STANDARDS THROUGH OUR OTHER EDUCATIONAL PROGRAMS AND RESOURCES. THE RRP GUARANTEES A MINIMUM OF $139,000 IN PRIZE MONEY. REVENUES AND EXPENSES ARE REPRESENTED IN SCHEDULE G.
  2. $23,054 spent. WEBSITE & NEWSLETTER (DROP "MAGAZINE"): THE RRP WEBSITE IS HOME TO A CURATED EDUCATIONAL LIBRARY AND SELECTION OF TOOLS AND RESOURCES TO SUPPORT THOROUGHBRED OWNERS. THE LIBRARY CONTAINS HUNDREDS OF ORIGINAL ARTICLES AND COLUMNS WHICH INCLUDE THE FULL 10-YEAR ARCHIVE OF THE ORGANIZATION'S PAST QUARTERLY PERIODICAL, "OFF-TRACK THOROUGHBRED MAGAZINE", WITH NEW CONTENT ADDED MONTHLY. THE WEBSITE ALSO HOSTS A FREE LISTING SERVICE FOR THOROUGHBREDS FOR SALE OR ADOPTION AND COLLECTION OF THIRD-PARTY RESOURCES.
  3. $125,915 spent. GENERAL BREED PROMOTION AND EDUCATION: ON AN ANNUAL BASIS, THE RRP PRODUCES AN AVERAGE OF 10 LIVE CLINICS, DEMOS, AND SEMINARS/WEBINARS WHICH ARE GEARED TOWARDS SUPPORTING THOROUGHBRED OWNERS IN ACHIEVING POSITIVE EXPERIENCES WITH THE BREED. THE ORGANIZATION PRODUCES A LINE LOGOWEAR AND MERCHANDISE FOR BREED FANS. STAFF AUTHORS THIRD-PARTY EDITORIAL, PARTICIPATES IN OUTREACH ACTIVITIES/EVENTS IN THE RACING AND EQUESTRIAN COMMUNITIES, AND PARTERS WITH PEER ORGANIZATIONS IN RAISING AWARENESS ON ISSUES RELATING TO THOROUGHBRED AFTERCARE.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since April 2011.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

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