New Mexico Cutting Horse Association
- Assets
- $146.8k
- Revenue
- $234.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Texline, TX
- Founding
- 09/1992
- Data as of
- 12/2022
- EIN
- 85-0380226
Organization Overview
New Mexico Cutting Horse Association is located in Texline, TX. The organization was established in 1992. According to its NTEE Classification (N69) the organization is classified as: Equestrian, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Mexico Cutting Horse Association is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2022, New Mexico Cutting Horse Association generated $234.8k 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 (15.1%) each year. All expenses for the organization totaled $235.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (13.6%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ENCOURAGE AND DEVELOP PUBLIC UNDERSTANDING AND APPRECIATION IN LIVESTOCK AND RANCHIMG OPERATIONS AND TRADITIONS THROUGH THE PROMOTION AND SPONSORSHIP OF PUBLIC CUTTING HORSE CONTESTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION CONTINUES TO SUPPORT YOUTH INVOLVED IN THE YOUTH CUTTING. A SCHOLARSHIP WAS AWARDED IN 2021 FOR COLLEGE. FUNDS HAVE BEEN SET ASIDE FOR FUTURE SCHOLARSHIP RECIPENTS FOR DESERVING STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dannica Percevich Treasurer | Officer | 0 | $0 |
Kim Adolf Vice President | Officer | 0 | $0 |
Mike Wood Director | Trustee | 0 | $0 |
Kathy Bro Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,250 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,403 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,653 |
| Total Program Service Revenue | $214,385 |
| Investment income | $784 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $234,822 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,500 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $5,195 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,634 |
| Advertising and promotion | $0 |
| Office expenses | $600 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $4,873 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $220,143 |
| Total functional expenses | $235,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $104,259 |
| Savings and temporary cash investments | $42,494 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $146,753 |
| 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 | $146,753 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $146,753 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Houston Polo Club Houston, TX | $639,620 | $2,717,907 |
Oklahoma Quarter Horse Racing Association Inc Edmond, OK | $3,393,007 | $2,258,601 |
West Texas Cutting Horse Association Amarillo, TX | $317,039 | $987,985 |
Oklahoma Quarter Horse Association Inc Oklahoma City, OK | $788,287 | $878,265 |
Texas Senior Pro Rodeo Assoc Inc Gatesville, TX | $32,489 | $804,765 |
Houston Dressage Society Inc Spring, TX | $252,483 | $611,801 |
New Mexico Horsemens Association Albuquerque, NM | $18,197,774 | $46,287 |
Will Rogers Range Riders Amarillo, TX | $3,718,415 | $564,661 |
Xit Rodeo And Reunion Inc Dalhart, TX | $366,132 | $462,089 |
Los Fresnos Rodeo Committee Inc Los Fresnos, TX | $560,072 | $542,122 |
Texas Youth Rodeo Association Caldwell, TX | $57,821 | $386,806 |
Lone Star High School Rodeo Assn Inc Kemp, TX | $65,536 | $437,370 |