American Quarter Horse Foundation
- Assets
- $47.8m
- Revenue
- $2.5m
- Investments
- $38.0m
- Employees
- 10
- Location
- Amarillo, TX
- Founding
- 07/1976
- Data as of
- 09/2022
- EIN
- 51-0187823
Organization Overview
American Quarter Horse Foundation is located in Amarillo, TX. The organization was established in 1976. According to its NTEE Classification (D03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Animal-Related and related organizations. As of 09/2022, American Quarter Horse Foundation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Quarter Horse Foundation 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 09/2022, American Quarter Horse Foundation generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $2.5m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (6.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, American Quarter Horse Foundation has awarded 98 individual grants totaling $3,341,536. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CONNECT HORSES AND PEOPLE THROUGH CHARITABLE GIVING IN ORDER TO DEVELOP AND SUPPORT PROGRAMS OR INITIATIVES THAT PRESERVE OUR HORSE'S LEGACY AND FURTHER THE OVERALL WELL-BEING OF THE AMERICAN QUARTER HORSE AND THE PEOPLE WHO COMPRISE THE QUARTER HORSE FAMILY THROUGH SCHOLARSHIPS, RESEARCH, EQUINE ASSISTED ACTIVITIES AND THERAPIES, THE HALL OF FAME & MUSEUM, AND OTHER PROGRAMS OF INTEREST TO THE QUARTER HORSE FAMILY.
Describe the Organization's Program Activity:
HALL OF FAME AND MUSEUM - TO HONOR THE HORSES AND PEOPLE WHO HAVE TRANSFORMED THE AMERICAN QUARTER HORSE INDUSTRY THROUGH THE HALL OF FAME AND TO INSPIRE PEOPLE TO DISCOVER AND EXPLORE THEIR PASSION FOR HORSES THROUGH THE MUSEUM. SERVED APPROXIMATELY 11,092 VISITORS FROM 10/1/21 TO 9/30/22.
EQUINE RESEARCH - TO SUPPORT THE HEALTH AND WELFARE OF OUR HORSE THROUGH RESEARCH THAT CHALLENGES THE FRONTIERS OF KNOWLEDGE AND PROMOTES THE CONTINUED WELL-BEING OF ALL HORSES.
SCHOLARSHIP FUND - TO SUPPORT FUTURE INDUSTRY LEADERS IN BUILDING KNOWLEDGE AND SKILLS THROUGH EDUCATION TO ACCOMPLISH LIFE-LONG DREAMS THROUGH SCHOLARSHIPS. 160 SCHOLARSHIPS WERE PAID IN THE YEAR ENDING 9/30/22.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Tebow Board Of Trustees Member | Trustee | 2 | $0 |
Jim Brinkman Board Of Trustees Member | Trustee | 2 | $0 |
Robin Merrill Appointed Board Of Trustee | Trustee | 1 | $0 |
Catherine Nicholas Appointed Board Of Trustee | Trustee | 1 | $0 |
Larry Bell Appointed Board Of Trustee | Trustee | 1 | $0 |
Norm Luba President Through March 2022 | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Quarter Horse Association Administration Services | 9/29/21 | $172,062 |
Christine Marie Sitz Chief Foundation Officer Services | 9/29/21 | $138,996 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $123,315 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,520,899 |
| Noncash contributions included in lines 1a–1f | $6,628 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,644,214 |
| Total Program Service Revenue | $163,311 |
| Investment income | $763,626 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $5,260 |
| Net Rental Income | $1,605 |
| Net Gain/Loss on Asset Sales | -$277,801 |
| Net Income from Fundraising Events | -$25,206 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $23,170 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,524,277 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $339,187 |
| Grants and other assistance to domestic individuals. | $407,307 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $141,431 |
| Compensation of current officers, directors, key employees. | $42,429 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $291,219 |
| Pension plan accruals and contributions | $12,472 |
| Other employee benefits | $27,669 |
| Payroll taxes | $27,641 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $144 |
| Fees for services: Accounting | $1,751 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $80,229 |
| Fees for services: Other | $3,969 |
| Advertising and promotion | $7,747 |
| Office expenses | $40,006 |
| Information technology | $50,068 |
| Royalties | $0 |
| Occupancy | $534,254 |
| Travel | $8,784 |
| 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 | $464,549 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,494,106 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $273,540 |
| Savings and temporary cash investments | $1,880,810 |
| Pledges and grants receivable | $771,206 |
| Accounts receivable, net | $13,463 |
| 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 | $45,508 |
| Net Land, buildings, and equipment | $4,748,142 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $37,963,131 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,095,154 |
| Total assets | $47,790,954 |
| Accounts payable and accrued expenses | $223,632 |
| Grants payable | $94,069 |
| Deferred revenue | $2,500 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $320,201 |
| Net assets without donor restrictions | $17,682,940 |
| Net assets with donor restrictions | $29,787,813 |
| 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 | $47,790,954 |
Grants Awarded
Over the last fiscal year, American Quarter Horse Foundation has awarded $333,263 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
AUBURN UNIVERSITY PURPOSE: EQUINE RESEARCH | $9,788 |
COLORADO STATE UNIVERSITY PURPOSE: EQUINE RESEARCH | $69,724 |
MICHIGAN STATE UNIVERSITY PURPOSE: EQUINE RESEARCH | $44,205 |
TEXAS A&M UNIVERSITY PURPOSE: EQUINE RESEARCH | $45,638 |
UNIVERSITY OF GEORGIA PURPOSE: EQUINE RESEARCH | $31,188 |
UNIVERSITY OF CALIFORNIA DAVIS PURPOSE: EQUINE RESEARCH | $14,411 |