Volunteer State Horsemens Foundation
- Assets
- $1.1m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Franklin, TN
- Founding
- 08/1988
- Data as of
- 12/2021
- EIN
- 62-1324410
Organization Overview
Volunteer State Horsemens Foundation is located in Franklin, TN. The organization was established in 1988. According to its NTEE Classification (D20) the organization is classified as: Animal Protection & Welfare, under the broad grouping of Animal-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Volunteer State Horsemens 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 12/2021, Volunteer State Horsemens Foundation generated $2.0m 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 $2.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.3%) per year over the past 7 years. 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
THE FOUNDATION MANAGES AND PRODUCES THE ANNUAL STEEPLECHASE EVENT BENEFITING THE MONROE CARELL JR. CHILDREN'S HOSPITAL AT VANDERBILT AND PROMOTES THE SPORT AND THE SPIRIT OF AMATEURISM THROUGHOUT THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SPONSORS THE IROQUOIS STEEPLECHASE RACE (THE STEEPLECHASE), AN ANNUAL EVENT OPEN TO THE GENERAL PUBLIC AND HELD IN THE SPRING OF EACH YEAR ON THE GROUNDS OF PERCY WARNER PARK, A PUBLIC PARK LOCATED IN NASHVILLE, TENNESSEE, OWNED BY THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY. IN ADDITION, A PORTION OF THE PROCEEDS FROM THE STEEPLECHASE MAY BE USED TO IMPROVE THE EQUESTRIAN FACILITIES AT PERCY WARNER PARK. THE FOUNDATION RECEIVES IN-KIND DONATIONS OF THE USE OF EQUIPMENT AND FACILITIES. THE FAIR MARKET VALUE OF THESE DONATIONS RELATED TO THE STEEPLECHASE IS $90,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sara Jo Gill Trustee | Trustee | 1 | $0 |
Alex Wade Trustee | Trustee | 1 | $0 |
William Haggard Trustee | Trustee | 1 | $0 |
Dwight Hall Chairman-Race Cmte. | Officer | 1 | $0 |
Stephen K Heard Secretary-Race Cmte. | Officer | 1 | $0 |
Marianne Byrd President-Race Cmte. | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Steeplechase Association Event Coordination | 12/30/22 | $369,346 |
Paychex Oasis Staffing | 12/30/22 | $241,365 |
Evolution Event Solutions Inc Race Management | 12/30/22 | $980,046 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $863,766 |
| Related organizations | $0 |
| Government grants | $50,278 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $332,191 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $914,044 |
| Total Program Service Revenue | $1,058,753 |
| Investment income | $3,324 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $20,156 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,996,277 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $194,462 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $135,195 |
| Fees for services: Legal | $21,337 |
| Fees for services: Accounting | $22,255 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $46,206 |
| Advertising and promotion | $41,064 |
| Office expenses | $20,339 |
| Information technology | $125,964 |
| Royalties | $0 |
| Occupancy | $15,500 |
| Travel | $538 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $639 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,646 |
| Insurance | $54,613 |
| All other expenses | $376,869 |
| Total functional expenses | $2,091,612 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $399,954 |
| Savings and temporary cash investments | $583,534 |
| 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 | $0 |
| Inventories for sale or use | $25,792 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $131,978 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,141,258 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $1,031,258 |
| Net assets with donor restrictions | $110,000 |
| 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 | $1,141,258 |
Grants Awarded
Over the last fiscal year, Volunteer State Horsemens Foundation has awarded $60,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FRIENDS OF WARNER PARK PURPOSE: GENERAL PURPOSES | $40,000 |
VANDERBILT CHILDREN'S HOSPITAL PURPOSE: GENERAL PURPOSES | $20,000 |