Kentucky Racing Health and Welfare Fund Inc
To provide exclusively for the benefit, aid, relief, and assistance of the racing personnel employed in connection with horse racing who can demonstrate their need for financial assistance.
Key facts about Kentucky Racing Health and Welfare Fund Inc
In short: Kentucky Racing Health and Welfare Fund Inc gave $104K across 1 grant in 2025 (avg $104K), mostly in Kentucky. Source: 2025 IRS Form 990.
- EIN
- 61-0958300
- Latest 990 filing
- Form 990, 2025
- Annual giving (2025)
- $103,642
- Grants made (2025)
- 1
- Average grant
- $103,642
- Median grant
- $103,642
- Total assets
- $12,010,515
- Primary geography
- Kentucky (100% of itemized 2025 grant dollars)
Data from IRS Form 990, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990 · View filing
Total Assets
$12.0M
+29.8% YoY
Annual Giving
$104K
+0.3% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$104K
+0.3% YoY
How Kentucky Racing Health and Welfare Fund Inc gives
- Giving grew 97% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
About Kentucky Racing Health and Welfare Fund Inc
Based on IRS filings
Kentucky Racing Health and Welfare Fund Inc is a public charity, based in Louisville, KY. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $12.0M in total assets. In 2025, it awarded 1 grant totaling $104K. Net investment income was $366K.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $53K (2022) to $252K (2019). In 2025 it made 1 grant totaling $104K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Kentucky Race Track Retirment Plan ($104K).
Grant Size Distribution
5 grants across all recorded years
The most common grant size was in the $50–100K range: 3 grants of 5 (60%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Kentucky Race Track Retirment Plan Louisville, KY | To provide retirement benefits to racing personnel employed in connection with horse racing. | $103,642 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $12,010,515 | $9,251,079 | $8,708,026 |
| Revenue | $4,273,428 | $2,287,935 | $1,178,206 |
| Expenses | $1,939,913 | $1,915,695 | $1,925,636 |
| Net Investment Income | $366,258 | $321,315 | $-333,745 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS May 14, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 16, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 12, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 9, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 13, 2025)
- Added Form 990 for fiscal year 2019 (received by the IRS July 13, 2020)
- Added Form 990 for fiscal year 2025 (received by the IRS June 9, 2026)
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Officers and directors from IRS filings
Kentucky Racing Health and Welfare Fund Inc is led by Richard P. Riedel, Executive Director on every filing since 2019; 1 of 7 officers listed in 2025 is compensated.
Officers on the 2025 filing
Richard P. Riedel
Executive Director
On filings since 2019
40 hrs/week
$135K (2019) → $142K (2025)
Rick Hiles
Chairman
On filings since 2019
No compensation reported
Donna Ward
Director
On filings since 2020
No compensation reported
Dale Romans
Director
New on the 2025 filing
No compensation reported
Burr Travis
Treasurer
Director → Treasurer, 2024
On filings since 2019
No compensation reported
Carol Hebel
Secretary
On filings since 2019
No compensation reported
Randy Scheen
Vice Chairman
Treasurer → Vice Chairman, 2024
On filings since 2019
No compensation reported
Former officers (3)
- Former: Mark Bacon (2023–2024) — Director
- Former: Frank Jones (2019–2023) — Vice Chairman · Filing note: Deceased
- Former: Andre Regard (2019–2020) — Director
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 $142K, to Richard P Riedel (Executive Director).
Frequently asked questions about Kentucky Racing Health and Welfare Fund Inc
How much does Kentucky Racing Health and Welfare Fund Inc give each year?
Kentucky Racing Health and Welfare Fund Inc gave $104K across 1 grant in 2025, according to its 2025 IRS Form 990. In 2024 it gave $103K across 1 grant.
How large is Kentucky Racing Health and Welfare Fund Inc?
Kentucky Racing Health and Welfare Fund Inc reported $12.0M in total assets on its 2025 IRS Form 990. Its revenue that year was $4.3M.
Where does Kentucky Racing Health and Welfare Fund Inc operate?
Kentucky Racing Health and Welfare Fund Inc has awarded grants in Kentucky.
What is Kentucky Racing Health and Welfare Fund Inc's EIN?
Kentucky Racing Health and Welfare Fund Inc's EIN (Employer Identification Number) is 61-0958300. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
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