Florida Thoroughbred Breeders Assoc Inc
Florida Thoroughbred Breeders Assoc Inc is a public charity based in Ocala, Florida. The FTBOA describes itself as a non-profit association representing Florida Thoroughbred breeders; it says it represents the industry legislatively, serves as Florida’s breed registrar, and administers breeding and racing incentives.
Florida Thoroughbred Breeders Assoc Inc at a glance
In short: Florida Thoroughbred Breeders Assoc Inc gave $3.1M across 79 grants in 2025 (avg $40K), mostly in Florida. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $3,124,528
- +25.2% vs 2024
- Grants made (2025)
- 79
- +41.1% vs 2024
- Average grant
- $39,551
- -11.2% vs 2024
- Median grant
- $13,563
- Total assets
- $7,343,952
- -9.8% vs 2024
- Primary geography
- Florida (87% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated October 2026.
How to apply to Florida Thoroughbred Breeders Assoc Inc
- Contact
Mailing address: 801 Sw 60Th Avenue, Ocala, FL 34474
Phone: (352) 629-2160
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Florida Thoroughbred Breeders Assoc Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Gulfstream Park ($917K). Together the top 10 received $1.9M.
Organizations only. It also paid 26 grants to individuals ($614,349), which are not listed by name.
Grant Size Distribution
141 grants across all recorded years
The most common grant size was under $50K: 118 grants of 141 (84%).
Geographic Focus
Where this funder awards grants
The filing’s 2025 grant dollars went primarily to Florida recipients (87%). Other recipient states were Massachusetts (5%), New York (3%), California (2%), and Kentucky (1%). The FTBOA website describes its incentives and registration programs as supporting Florida’s Thoroughbred breeding and racing industry.
Grant Distribution by State
Share of 2025 grant dollars across all 79 itemized grants.
States
Cities
How Florida Thoroughbred Breeders Assoc Inc gives
Estimate from itemized grant lists in IRS Form 990 filings (2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $383K (2021) to $3.1M (2025). In 2025 it made 79 grants totaling $3.1M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Gulfstream Park Hallandale Beach, FL | Purse Supplement | $917,000 |
| Tampa Bay Downs Inc Tampa, FL | Purse Supplement | $466,800 |
| 15 grants to individuals Recipients not named | — | $540,472 |
| Arindel Ocala, FL | Breeder Awards | $99,950 |
| Stonehedge LLC Tyngsboro, MA | Breeder Awards | $90,703 |
| Just for Fun Stable Inc Southwest Ranches, FL | Breeder Awards | $65,116 |
| Baoma Corp North Andover, MA | Breeder/Stallion Awards | $57,769 |
| St Elias Stable LLC New York, NY | Breeder/Stallion Awards | $57,175 |
| Shadybrook Farm Inc Morriston, FL | Breeder Awards | $56,572 |
| Jacks or Better Farm Inc Ocala, FL | Breeder Awards | $53,088 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $7,343,952 | $7,206,708 | $7,853,376 | $3,124,528 | 79 | $21,888 |
| 2024 | $8,140,154 | $7,463,178 | $6,370,227 | $2,494,818 | 56 | $27,530 |
| 2023 | $6,512,648 | $3,166,243 | $2,914,097 | $711,500 | 2 | — |
| 2022 | $6,294,766 | $2,891,430 | $2,462,379 | $613,500 | 2 | — |
| 2021 | $5,874,761 | $2,587,423 | $2,133,980 | $383,000 | 2 | $80 |
| 2020 | $5,452,661 | $2,150,365 | $2,635,981 | $588,000 | 2 | $21,753 |
| 2019 | $5,936,261 | $2,550,035 | $2,597,136 | $389,588 | 3 | $22,044 |
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The organization’s stated mission is to promote the Thoroughbred horse industry in Florida. Its filing describes award payments to breeders of Florida-bred horses that win or place at Florida racetracks, with awards calculated using a state-approved plan. The filing also describes Florida-bred foal and Florida stallion registration.
The FTBOA website describes breeder and stallion awards, an individual recipient Incentives, and export incentives. It also describes purse incentive programs at Florida racetracks. These are industry incentives and awards; the available information does not describe an application process for outside grant applicants.
Grantmaking
The 2025 filing reports 79 grants totaling $3,124,528. Grant amounts ranged from $5,031 to $917,000, with a median of $13,563. The largest reported grants included $917,000 to Gulfstream Park and $466,800 to Tampa Bay Downs Inc., both for purse supplements. Other large awards included $211,144 to an individual recipient for breeder/stallion awards, $99,950 to Arindel for breeder awards, and $90,703 to Stonehedge LLC for breeder awards.
The filing also lists awards to individual recipients for breeder/stallion awards and to farms and other recipients for breeder awards. It states that the association has memoranda of understanding with Gulfstream Park and Tampa Bay Downs describing the process for purse supplements, including criteria that must be met before an award is given.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists George Isaacs as president, Francis VanLengendonck as second vice president, and Joseph M. O’Farrell III as treasurer. It also lists Brent Fernung, Marilyn Campbell, and Milan Kosanovich as directors. George Russell, T. Paul Bulmahn, Laurine Fuller-Vargas, and Nick De Meric are listed as directors through October 2024.
Florida Thoroughbred Breeders Assoc Inc is led by Lonny T. Powell, CEO & Executive Vice President since 2025 (on filings since 2019); 3 of 22 officers listed in 2025 are compensated.
Officers on the 2025 filing
Lonny T. Powell
CEO & Executive Vice President
CEO & Executive → CEO & Executive Vice President, 2025
On filings since 2019
40 hrs/week
$280K (2019) → $351K (2025)
George Isaacs
President
Secretary → 1st Vice President, 2022
1st Vice President → President, 2023
On filings since 2019
1 hr/week
No compensation reported
Brent Fernung
Director
Treasurer → Treasurer Th, 2023
Treasurer Th → Director, 2024
On filings since 2019
1 hr/week
No compensation reported
George Russell
Director
2nd Vice President → 1st Vice President, 2023
1st Vice President → Director, 2025
On filings since 2019
1 hr/week
No compensation reported
Laurine Fuller-Vargas
Director
On filings since 2019
1 hr/week
No compensation reported
Milan Kosanovich
Director
On filings since 2019
1 hr/week
No compensation reported
Nick De Meric
Director
Director → Secretary, 2023
Secretary → Director, 2025
On filings since 2019
1 hr/week
No compensation reported
T. Paul Bulmahn
Director
On filings since 2019
1 hr/week
No compensation reported
Marilyn Campbell
Director
On filings since 2020
1 hr/week
No compensation reported
Jerry Campbell
Director
On filings since 2023
1 hr/week
No compensation reported
Mary Lightner
Director
On filings since 2023
1 hr/week
No compensation reported
Mike Hall
Director
On filings since 2023
1 hr/week
No compensation reported
Beth Bayer
Director
New on the 2025 filing
1 hr/week
No compensation reported
Colin Brennan
Director
New on the 2025 filing
1 hr/week
No compensation reported
Richard Heysek
Director
New on the 2025 filing
1 hr/week
No compensation reported
Tiffany Atteberry Dvm
Director
New on the 2025 filing
1 hr/week
No compensation reported
Peggy Yost
CFO
On filings since 2019
40 hrs/week
$85K (2019) → $149K (2025)
Stephen Koch
Operations
On filings since 2024
40 hrs/week
$101K (2024) → $128K (2025)
Francis Vanlengendonck
2nd Vice President
Director → 2nd Vice President, 2023
On filings since 2019
1 hr/week
No compensation reported
Valerie Dailey
First Vice President
President → Director- Fr, 2024
Director- Fr → First Vice President, 2025
On filings since 2019
1 hr/week
No compensation reported
Joseph M. O'Farrell III
Treasurer
Director → Secretary, 2021
Secretary → Treasurer, 2023
On filings since 2020
1 hr/week
No compensation reported
Beckie Cantrell
Secretary
Director- Fr → Secretary, 2025
On filings since 2024
1 hr/week
No compensation reported
Former officers (8)
- Former: Bobby Jones (2019–2024) — Director Thr
- Former: Fred Yutani (2019–2024) — Director Thr
- Former: Richard Kent (2019–2024) — Director Thr
- Former: Phil Matthews Dvm (2019–2023) — Past President T
- Former: Fred Brei (2021–2023) — Director Thr
- Former: Barry Berkelhammer (2019–2020) — Director
- Former: Greg Wheeler (2019–2020) — President
- Former: Caroline Davis (2019) — Exiting CFO
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $351K, to Lonny T Powell (CEO & Executive VP). 3 officers or directors reported compensation on that filing.
Frequently asked questions about Florida Thoroughbred Breeders Assoc Inc
How much does Florida Thoroughbred Breeders Assoc Inc give each year?
Florida Thoroughbred Breeders Assoc Inc gave $3.1M across 79 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $2.5M across 56 grants.
What is Florida Thoroughbred Breeders Assoc Inc's typical grant size?
Florida Thoroughbred Breeders Assoc Inc's median grant in 2025 was $13,563, and its average grant was $39,551, across 79 grants on its 2025 IRS Form 990.
Where does Florida Thoroughbred Breeders Assoc Inc give grants?
Florida Thoroughbred Breeders Assoc Inc gives mostly in Florida: 87% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The next largest state was Massachusetts (5%). The most frequent recipient cities were Ocala, FL (12 grants), Morriston, FL (6 grants), Tampa, FL (2 grants) and North Palm Beach, FL (2 grants).
Does Florida Thoroughbred Breeders Assoc Inc give general operating support?
Not in 2025: none of the 79 grants with a stated purpose on Florida Thoroughbred Breeders Assoc Inc's 2025 IRS Form 990 were described as general or operating support. Recurring purposes include "Breeder Awards" (68 grants), "Breeder/Stallion Awards" (5 grants) and "Stallion Awards" (4 grants).
Who are Florida Thoroughbred Breeders Assoc Inc's largest grantees?
Florida Thoroughbred Breeders Assoc Inc's largest 2025 grantees include Gulfstream Park ($917,000), Tampa Bay Downs Inc ($466,800) and Arindel ($99,950), according to its 2025 IRS Form 990. It also paid 26 grants to individuals ($614,349), which are not listed by name. Together they received 47% of its itemized 2025 grant dollars.
How large is Florida Thoroughbred Breeders Assoc Inc?
Florida Thoroughbred Breeders Assoc Inc reported $7.3M in total assets on its 2025 IRS Form 990. Its revenue that year was $7.2M.
What does Florida Thoroughbred Breeders Assoc Inc fund?
The organization’s stated mission is to promote the Thoroughbred horse industry in Florida. Its filing describes award payments to breeders of Florida-bred horses that win or place at Florida racetracks, with awards calculated using a state-approved plan. See mission & focus areas ↑
How do I apply for a grant from Florida Thoroughbred Breeders Assoc Inc?
Florida Thoroughbred Breeders Assoc Inc has no public application process in the sources Grantable reviewed. Contact the foundation directly before submitting a request.
What is Florida Thoroughbred Breeders Assoc Inc's EIN?
Florida Thoroughbred Breeders Assoc Inc's EIN (Employer Identification Number) is 59-0944678. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated October 2026. Sourced from IRS Form 990 filings. Research dossier generated October 2026.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS April 23, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS March 7, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS February 7, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS March 7, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS April 23, 2025)
- Added Form 990 for fiscal year 2019 (received by the IRS March 10, 2020)
- Added Form 990 for fiscal year 2025 (received by the IRS May 11, 2026)
- IRS filings on file for fiscal years 2020–2024
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Figures come from Florida Thoroughbred Breeders Assoc Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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