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STANDARDBRED OWNERS ASSOCIATION INC
YONKERS, NY · EIN 111867812 · Form 990 · FY2024 · Medium ($1M-$10M) · soaofny.com
revenue
$3.8M
expenses
$1.2M
net assets
$7.2M
employees
5
program ratio
58%
mission · from form 990

REPRESENTS HORSEOWNERS AND TRAINERS, PROMOTES AND EDUCATES THE PUBLIC ABOUT THE SPORT AND HISTORY OF HARNESS RACING, PROVIDES SUPPORT AND ANCILLIARY ACTIVITIES AT RACETRACKS. PROVIDES FOR INTERNATIONAL COMPETITION WITH SIMILAR ORGANIZATIONS.

profile · synthesized from sources

Represents owners, trainers, and drivers competing at Yonkers Raceway in New York. Advocates for the harness racing industry through legislative lobbying, contract negotiations, and public promotion. Provides member benefits including insurance, health and welfare programs, and scholarship opportunities for industry-connected students.

named programs · 5 · from sources

What they call their work

Field Representation
Deploys field representatives at Yonkers Raceway daily to protect member interests during racing operations.
Health and Welfare Benefits
Administers health, dental, and retirement benefits for qualified backstretch personnel and members.
John R. Brennan Scholarship
Provides four annual scholarships ranging from $2,000 to $11,000 to students connected to SOA members or backstretch personnel, based on merit and financial need.
Legislative Advocacy
Employs a lobbyist and engages with state legislators in Albany to advocate for policies supporting harness racing and agriculture in New York.
Member Insurance Programs
Offers fire, disaster, liability, and sulky damage/replacement insurance to members.
activities · 9 groups

What they do

  • Equine Industry Representation and Support 8 activities
    • Advocates for owners, trainers, and drivers at Yonkers Raceway
      Represents the interests of owners, trainers, and drivers competing at Yonkers Raceway through direct engagement and negotiation.
    • Advocates for the economic impact of harness racing with elected officials
      Meets with elected officials to advocate for the harness racing industry by educating them on its economic contributions to racing and agriculture in New York State.
    • Deploys field representatives to protect member interests at race events
      Employs field representatives who are present each race day morning and during every race card at Yonkers Raceway to safeguard members' rights and interests.
    • Enforces compliance with state racing regulations
      Adheres to paddock schedules and other requirements prescribed and enforced by the New York State Gaming Commission at Yonkers Raceway.
    • Negotiates horsemen's contracts and purse structures at Yonkers Raceway
      Negotiates contracts with Yonkers Raceway to establish minimum purses, set purse increments, and maximize income from simulcasting and other revenue sources on behalf of horsemen.
    • Produces and distributes Condition Sheets for Yonkers Raceway
      Issues weekly Condition Sheets that provide race conditions and information for harness racing events at Yonkers Raceway.
    • Produces race analysis and publications for harness racing events
      Regularly produces race analysis for harness racing events at MGM Yonkers Raceway and publishes ongoing analyses covering multiple days of racing activity.
    • Supports international harness racing events
      Played a key role in reviving the International Trot at Yonkers Raceway in 2015 through international collaboration, including a 2014 visit to Paris to engage foreign stakeholders.
  • Union and Association Benefit Funds 2 activities
    • Administers health, dental, and retirement benefits for backstretch personnel
      Manages health and welfare, dental, and retirement benefits programs for qualified backstretch workers in the harness racing industry.
    • Provides insurance coverage for members
      Offers fire, disaster, liability, and sulky damage and replacement insurance to member owners, trainers, and drivers.
  • Golf Caddie and Junior Scholarships 1 activity
    • Awards cash bonuses to members for racing series victories
      Grants cash bonuses to qualified SOA members who win designated racing series events.
  • Local High School Scholarship Programs 1 activity
    • Awards scholarships for post-secondary education
      Provides four annual scholarships ranging from $2,000 to $11,000 based on merit and financial need to qualified individuals pursuing education beyond high school; previously reported as two annual scholarships.
  • Regular Membership Meetings 1 activity
    • Conducts open board meetings for member education and input
      Holds quarterly board meetings that are open to SOA members to encourage participation, education, and feedback on organizational matters.
  • Charitable Grantmaking to Specific Causes 1 activity
    • Funds charitable donations to industry and community organizations
      Donates $5,000 annually to multiple charities, both within and outside the harness racing industry.
  • Organizational Governance & Leadership Development 1 activity
    • Operates standing committees to serve membership needs
      Manages sixteen committees appointed by the SOA President to address member concerns and operational matters, with meetings held as needed throughout the year.
  • Community Event Fundraising 1 activity
    • Publishes official purse notices for racing weeks
      Prepares and disseminates official purse notices, such as those published for Week 30 ending July 26, 2026, to inform participants of prize distributions.
  • Uncategorized 1 activity
    • Expands international reach of Yonkers Raceway broadcasts
      Expanded the simulcast signal of Yonkers Raceway to international markets, enabling global viewing and wagering in countries including Australia, New Zealand, France, Germany, Austria, Netherlands, Switzerland, and Belgium.
financials · form 990 · fy2024
revenue
Total revenue$3.80M
Contributions & grants$00%
Program service revenue$2.85M75%
Investment income$955K25%
Other revenue$0
expenses
Total expenses$1.15M
Program expenses58%
Admin / overhead0%
Fundraising0%
Salaries & benefits$208K
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$21.70M
Cash$1.00M
Investments$11.71M
Liabilities$14.46M
Net assets$7.24M
Liquid reserves132.2 mo
4 years on record · 2020–2024 · YoY revenue +42.0%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 1
NameTitleHours/wkCompensation
PATRICK O'BRIEN Foundation Mana 30 $115K
board members · 15
  • ANDREW HARRIS — Director
  • CHARLES LONGO — Director
  • CHRIS WITTSTRUCK — Director
  • IRVING ATHERTON — Treasurer
  • JORDAN STRATTON — Director
  • JOSEPH A FARALDO — President
  • MICHAEL FORTE — Director
  • MICHAEL KIMELMAN — Director
  • PETER KLEINHANS — Director
  • PETER VENAGLIA — 1ST VP
  • PETER YOUNGER — Director
  • RAY SCHNITTKER — Director
  • SANDRA KAUFMAN — Director
  • STANLEY NOGA — Director
  • TOM CERASO — Director
relationships · 10

Who they work with

  • Empire City Bets Partner — Partners to offer promotional bonuses and rewards to Yonkers Raceway players.
  • MGM Yonkers Raceway Partner — Collaborates on race analysis reporting for harness racing events.
  • New York State Gaming Commission Government — Regulatory body that prescribes and enforces paddock schedules at Yonkers Raceway.
  • New Yorkers for Harness Racing Partner — Collaborates to promote the harness racing community and its benefits.
  • Similar organizations in international harness racing Partner — Collaborates with international organizations to support global competition in harness racing.
  • State legislators in Albany Government — Engages with state legislators on policy matters affecting the harness racing industry.
  • Yonkers Raceway Partner — Collaborates with Yonkers Raceway on scholarship eligibility, requiring applicants or their family members to be involved with racing at the track.
  • Yonkers Raceway Partner — Issues Condition Sheets in coordination with the Yonkers Raceway race office.
  • Yonkers Raceway Partner — Negotiates contracts and collaborates on matters including purses, simulcasting revenue, and member representation.
  • Yonkers Raceway Partner — Regularly collaborates with senior management on racing matters including purse structure, scheduling, and simulcasting.
strategies · 3

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Global Market Expansion to Revitalize Domestic Racing
    methodology: global_market_expansion
    By expanding Yonkers Raceway’s simulcast signal internationally, the SOA grows new betting markets and increases revenue streams, which in turn revitalizes domestic harness racing because inbound demand from global audiences strengthens the financial foundation of local operations.
  • Policy Advocacy Through Economic Impact Emphasis
    methodology: policy_advocacy_through_economic_impact
    By engaging directly with policymakers and emphasizing the economic contributions of harness racing, the SOA produces legislative support and long-term industry sustainability because decision-makers are more likely to prioritize sectors that demonstrate measurable economic value.
  • Stakeholder Representation to Strengthen Industry Cohesion
    methodology: stakeholder_representation
    By representing the interests of owners, trainers, and drivers in legislative and operational forums, the SOA increases stakeholder engagement and collective influence because unified representation amplifies individual voices in policy and industry decisions.