Hopes Legacy Equine Rescue Inc
- Assets
- $2.4m
- Revenue
- $1.1m
- Investments
- $53.3k
- Employees
- 7
- Location
- Afton, VA
- Founding
- 09/2009
- Data as of
- 12/2023
- EIN
- 80-0273321
Organization Overview
Hopes Legacy Equine Rescue Inc is located in Afton, VA. The organization was established in 2009. 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, Hopes Legacy Equine Rescue Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hopes Legacy Equine Rescue 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, Hopes Legacy Equine Rescue Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 26.4% each year . All expenses for the organization totaled $613.3k during the year ending 12/2023. While expenses have increased by 31.1% 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
RESCUE, REHABILITATION AND ADOPOTION OF RESCUE HORSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOPE'S LEGACY EQUINE RESCUED 127 HORSES AND PLACED 86 HORSES FOR ADOPTION FOR THE INCOME TAX YEAR ENDED DECEMBER 31, 2023. HOPE'S LEGACY RECEIVED $50,000 IN NON-CASH CONTRIBUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meghann Phillips Board Member | Officer | 1 | $0 |
Carolyn Maki Board Member | Officer | 1 | $0 |
Kristi Mcclain Board Member | Officer | 1 | $0 |
Karen Osborne Chair Person | Officer | 1 | $0 |
Philippa Proulx Treasurer | Officer | 1 | $0 |
Jane Andrews Board Member | Officer | 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 | $1,021,352 |
| Noncash contributions included in lines 1a–1f | $50,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,021,352 |
| Total Program Service Revenue | $49,742 |
| Investment income | $21,097 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$8,520 |
| Net Income from Fundraising Events | $14,388 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,098,059 |
| 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. | $40,800 |
| Compensation of current officers, directors, key employees. | $4,080 |
| Compensation to disqualified persons | $41,130 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,370 |
| Payroll taxes | $7,505 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,844 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,957 |
| Advertising and promotion | $14,866 |
| Office expenses | $11,413 |
| Information technology | $202 |
| Royalties | $0 |
| Occupancy | $19,166 |
| Travel | $0 |
| 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 | $70,472 |
| Insurance | $6,281 |
| All other expenses | $7,761 |
| Total functional expenses | $613,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $191,087 |
| Savings and temporary cash investments | $643,884 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,546,055 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $53,265 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,839 |
| Total assets | $2,437,130 |
| 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 | $26,710 |
| Other liabilities | $2,574 |
| Total liabilities | $29,284 |
| 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 | $2,407,846 |
| Total liabilities and net assets/fund balances | $2,437,130 |