Thorncroft Equestrian Center
- Assets
- $14.8m
- Revenue
- $1.6m
- Investments
- $51.2k
- Employees
- 48
- Location
- Malvern, PA
- Founding
- 04/1983
- Data as of
- 12/2021
- EIN
- 23-2218431
Organization Overview
Thorncroft Equestrian Center is located in Malvern, PA. The organization was established in 1983. According to its NTEE Classification (N69) the organization is classified as: Equestrian, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Thorncroft Equestrian Center employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thorncroft Equestrian Center 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 12/2021, Thorncroft Equestrian Center generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 0.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP THE PHYSICAL AND EMOTIONAL WELL-BEING OF ALL PEOPLE REGARDLESS OF THEIR INDIVIDUAL CHALLENGES. WE ARE COMMITTED TO PERSONAL GROWTH AND EDUCATION IN AN EQUESTRIAN ENVIRONMENT OF RESPECT, LOVE AND INCLUSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THORNCROFT EQUESTRIAN CENTER IS A PREMIER LEADER IN THE FIELD OF THERAPEUTIC HORSEMANSHIP. OUR FARM EMBRACES THE CONTINUING EDUCATION AND DEVELOPMENT OF HIGH QUALITY PROGRAMS AND INSTRUCTION. THORNCROFT BRINGS OUT THE GIFTS AND ABILITIES OF ALL PEOPLE AND HELPS THEM REALIZE THEIR POTENTIAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tiffany Meyer President | Officer | 40 | $60,000 |
Susan R Murray CPA Treasurer | OfficerTrustee | 1 | $0 |
Richard Johnston Chairman | OfficerTrustee | 1 | $0 |
Mary Parnell Vice Chairman | OfficerTrustee | 0.5 | $0 |
Michele Harvey Secretary | OfficerTrustee | 0.5 | $0 |
Jane Altman Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,843 |
| Membership dues | $0 |
| Fundraising events | $306,972 |
| Related organizations | $0 |
| Government grants | $117,168 |
| All other contributions, gifts, grants, and similar amounts not included above | $341,225 |
| Noncash contributions included in lines 1a–1f | $27,181 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $767,208 |
| Total Program Service Revenue | $532,194 |
| Investment income | $188,345 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,200 |
| Net Gain/Loss on Asset Sales | $177,066 |
| Net Income from Fundraising Events | -$66,224 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,605,648 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $51,070 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $66,486 |
| Compensation of current officers, directors, key employees. | $15,100 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $394,196 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,634 |
| Payroll taxes | $36,343 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,430 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $59,836 |
| Fees for services: Other | $4,000 |
| Advertising and promotion | $3,744 |
| Office expenses | $18,451 |
| Information technology | $17,656 |
| Royalties | $0 |
| Occupancy | $29,228 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16,250 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $80,067 |
| Insurance | $75,693 |
| All other expenses | $50,971 |
| Total functional expenses | $1,178,997 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $167,543 |
| Savings and temporary cash investments | $456,003 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,520 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,459 |
| Net Land, buildings, and equipment | $4,679,935 |
| Investments—publicly traded securities | $9,457,013 |
| Investments—other securities | $51,240 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,017 |
| Total assets | $14,841,730 |
| Accounts payable and accrued expenses | $1,890 |
| Grants payable | $0 |
| Deferred revenue | $61,938 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $204,273 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $268,101 |
| Net assets without donor restrictions | $11,866,104 |
| Net assets with donor restrictions | $2,707,525 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $14,841,730 |
Grants Recieved
Over the last fiscal year, we have identified 18 grants that Thorncroft Equestrian Center has recieved totaling $134,323.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $39,043 |
Davenport Family Fndtn Trust Under Deed Edna Marion Davenport 031597 Southeastern, PA PURPOSE: CAPITAL IMPROVEMENTS | $30,000 |
Moran Family Charitable Foundation Inc Pittsburgh, PA PURPOSE: GENERAL OPERATING PURPOSES | $15,000 |
Goshen Hill Foundation Inc Po Box Pittsbu, PA PURPOSE: GENERAL OPERATING | $10,000 |
Ccres Downingtown, PA PURPOSE: EQUESTRIAN THERAPY | $9,000 |
Chester County Community Foundation Inc West Chester, PA PURPOSE: HUMAN SERVICES | $7,500 |
Endowment Analysis
| Beg. Balance | $5,926,899 |
| Earnings | $855,815 |
| Net Contributions | $200,000 |
| Other Expense | $24,578 |
| Ending Balance | $6,958,136 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jockey Club New York, NY | $77,383,639 | $14,119,358 |
Horsemens Benevolent & Protective Assoc Inc Ohio Division Grove City, OH | $13,638,374 | $9,989,300 |
Pennsylvania Harness Horsemens Association Chester, PA | $47,723,168 | $7,569,633 |
Interscholastic Equestrian Association Inc Chagrin Falls, OH | $1,821,708 | $2,864,631 |
Lphsa Inc Lake Placid, NY | $506,275 | $2,224,218 |
Washington International Horseshow Association Ltd Annapolis, MD | $661,387 | $2,450,328 |
Meadowbrook Foundation Inc Chevy Chase, MD | $4,161,973 | $2,176,434 |
Maryland Thoroughbred Horsemans Association Owings Mills, MD | $1,933,805 | $1,645,385 |
Western New York Harness Horsemens Association Inc Batavia, NY | $1,628,703 | $1,541,793 |
Pennsylvania Horse Breeders Association Inc Kennett Square, PA | $833,317 | $1,478,049 |
Pegasus Farm Hartville, OH | $3,046,238 | $1,440,332 |
Pegasus Therapeutic Riding Inc Brewster, NY | $5,410,456 | $1,539,175 |