Florida Thoroughbred Breeders
The Florida Thoroughbred Breeders Association (FTBOA) is a nonprofit organization based in Ocala, Florida, representing the state's Thoroughbred breeding industry. Founded in 1945, the organization serves as the industry's legislative advocate, Florida's breed registrar, and administrator of breeding and racing incentive programs. The FTBOA operates as a 501(c)(5) organization with approximately 9-10 employees.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$8.1M
+25.0% YoY
Annual Giving
$2.5M
+250.6% YoY
Grant Count
56
+2700.0% YoY
Avg Grant Size
$45K
-87.5% YoY
Mission & Focus Areas
The FTBOA's mission is to promote the Thoroughbred horse industry in Florida through legislative representation, breed registration, and financial incentive administration. The organization's primary program areas include:
- Breeder Awards Administration: Administers payments to breeders of Florida-bred horses that win or place at Florida racetracks, with awards determined by state-approved formulas
- Stallion Awards: Provides awards to stallion owners
- Foal and Stallion Registration: Registers Florida-bred foals and stallions standing at stud in Florida (offered at no fee for FTBOA members beginning with foals of 2025)
- Florida Sire Stakes Program: Administers the Florida Sire Stakes racing incentive program
- Industry Promotion: Advertising and promotion of the Florida horse industry
Grantmaking
The FTBOA administers substantial financial incentives to support the Thoroughbred breeding and racing industry:
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Geographic Focus
Where this funder awards grants
The FTBOA's funding and programs focus primarily on Florida, with particular emphasis on supporting the state's Thoroughbred breeding and racing industry.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Based on the most recent 2024 tax filings:
| Metric | Amount |
|---|---|
| Total Assets | $8,140,154 |
| Total Revenues | $7,463,178 |
| Total Expenses | $6,370,227 |
| Total Giving | $3,867,191 |
| Program Services Revenue | $7,089,915 |
| Grants & Contributions | $344,228 |
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $8,140,154 | $6,512,648 | $6,294,766 |
| Revenue | $7,463,178 | $3,166,243 | $2,891,430 |
| Expenses | $6,370,227 | $2,914,097 | $2,462,379 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $27,530 | — | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
58 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Lonny Powell serves as CEO and Executive Vice President of the FTBOA and is also listed as Executive Director of Florida Thoroughbred Charities, the charitable arm of the organization.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| LONNY T POWELL | CEO & EXECUT | 40 | $343,800 |
| PEGGY YOST | CFO | 40 | $130,629 |
| STEPHEN KOCH | OPERATIONS | 40 | $101,375 |
| T PAUL BULMAHN | DIRECTOR | 1 | — |
| JERRY CAMPBELL | DIRECTOR | 1 | — |
| MARILYN CAMPBELL | DIRECTOR | 1 | — |
| BECKIE CANTRELL | DIRECTOR- FR | 1 | — |
| VALERIE DAILEY | DIRECTOR- FR | 1 | — |
| BRENT FERNUNG | DIRECTOR | 1 | — |
| LAURINE FULLER-VARGAS | DIRECTOR | 1 | — |
| MIKE HALL | DIRECTOR | 1 | — |
| JOSEPH M O'FARRELL III | TREASURER | 1 | — |
| GEORGE ISAACS | PRESIDENT | 1 | — |
| BOBBY JONES | DIRECTOR THR | 1 | — |
| RICHARD KENT | DIRECTOR THR | 1 | — |
| MILAN KOSANOVICH | DIRECTOR | 1 | — |
| MARY LIGHTNER | DIRECTOR | 1 | — |
| NICK DE MERIC | SECRETARY | 1 | — |
| GEORGE RUSSELL | 1ST VICE PRE | 1 | — |
| FRANCIS VANLENGENDONCK | 2ND VICE PRE | 1 | — |
| DR FRED YUTANI | DIRECTOR THR | 1 | — |
Recent News & Activity
Recent developments and announcements
The FTBOA announced a $1 million Florida Sire Racing Incentives Program for 2026
FTBOA Announces $1 Million Florida Sire Racing Incentives ...The organization introduced groundbreaking Florida-bred export incentive programs
FTBOA Announces Groundbreaking Florida-bred Export Incentives - FTBOAAward rates were adjusted for 2025
FTBOA Adjusts 2025 Award Rates, Announces Florida-Bred Export IncentivesThe FTBOA offers a Florida Thoroughbred Charities Scholarship Application
FTBOA Announces $1 Million Florida Sire Racing Incentives ...The organization hosts an annual FTBOA Annual Awards Gala at Circle Square Cultural Center in Ocala
Members Day at The Races events are held at Tampa Bay Downs during the Florida Cup
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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