Old Friends Inc
- Assets
- $5.4m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 30
- Location
- Georgetown, KY
- Founding
- 03/2004
- Data as of
- 12/2023
- EIN
- 20-0049798
Organization Overview
Old Friends Inc is located in Georgetown, KY. The organization was established in 2004. According to its NTEE Classification (D20) the organization is classified as: Animal Protection & Welfare, under the broad grouping of Animal-Related and related organizations. As of 12/2023, Old Friends Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Friends Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Old Friends Inc generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $3.2m during the year ending 12/2023. While expenses have increased by 9.7% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO CARE FOR AND PROTECT RETIRED RACING THOROUGHBREDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RAISE AWARENESS OF THE TREATMENT OF RETIRED RACE HORSES AND CARE FOR AND HONOR THE RACEHORSES. WE KEEP AND CARE FOR RETIRED RACE HORSES ON OUR FARM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Blowen President/board Member | OfficerTrustee | 40 | $94,500 |
William Van Den Dool Vp/board Member | OfficerTrustee | 40 | $41,750 |
Cynthia Grisolia Chairman | OfficerTrustee | 40 | $240 |
Barbara Fossum Secy/board Member | OfficerTrustee | 40 | $36,902 |
Pat Riley Treasurer/board Member | Trustee | 1 | $0 |
Jill Baffert Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,623,254 |
| Noncash contributions included in lines 1a–1f | $45,858 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,623,254 |
| Total Program Service Revenue | $625,494 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,750 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $37,746 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $340,844 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,641,088 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $173,392 |
| Compensation of current officers, directors, key employees. | $173,392 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $129,384 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $35,174 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,943 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $37,982 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $11,563 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $158,389 |
| Insurance | $0 |
| All other expenses | $84,201 |
| Total functional expenses | $3,240,372 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $488,780 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $36,450 |
| Inventories for sale or use | $23,042 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,786,056 |
| Investments—publicly traded securities | $59,189 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,393,517 |
| Accounts payable and accrued expenses | $129,187 |
| Grants payable | $0 |
| Deferred revenue | $12,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,322,231 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,463,418 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,930,099 |
| Total liabilities and net assets/fund balances | $5,393,517 |