New England Equitation Championships Inc
- Assets
- $286.2k
- Revenue
- $475.3k
- Investments
- $146.5k
- Employees
- 0
- Location
- Ipswich, MA
- Founding
- 11/2016
- Data as of
- 12/2023
- EIN
- 03-0485063
Organization Overview
New England Equitation Championships Inc is located in Ipswich, MA. The organization was established in 2016. 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 England Equitation Championships 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, New England Equitation Championships Inc generated $475.3k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $506.9k during the year ending 12/2023. While expenses have increased by 3.5% 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
ANNUAL RIDING COMPETITION PROMOTING HORSEMANSHIP, EQUITATION, HORSECARE AND ONGOING EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROMOTES AN ANNUAL EQUESTRIAN FINALS COMPETITION FOR QUALIFYING JUNIOR/SENIOR COMPETITIORS. THE COMPETITION INCLUDES OVER 350 U.S.E.F./N.E.H.C. MEMBERS. AWARDS & PRIZES ARE GIVEN TO ACKNOWLEDGE EQUITATION, HORSEMANSHIP EXCEPTIONAL TRAINORS AND GROOMSMAN, ETC.
THE ORGANIZATION IS PROVIDING GRANTS FOR INDIVIDUALS TO PARTICIPATE IN CLINICS & EDUCATIONAL EVENTS FOR TRAINING AND EDUCATION IN VARIOUS EQUINE RELATED AREAS AND PROVIDING GRANTS TO OFFER FINANCIAL ASSISTANCE TO PARTICPATE IN THE ANNUAL FINALS COMPETITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carl Catani Director | Trustee | 1.3 | $0 |
Joseph Dotoli Director | Trustee | 1.3 | $0 |
Patty Harnois Director | Trustee | 1.3 | $0 |
Monica Hunt Director | Trustee | 1.3 | $0 |
Olana Laffey Director | Trustee | 1.3 | $0 |
Armand Chenelle Director | Trustee | 1.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $12,216 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $92,848 |
| Noncash contributions included in lines 1a–1f | $36,638 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $105,064 |
| Total Program Service Revenue | $301,224 |
| Investment income | $5,098 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $23,512 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $20,405 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $475,306 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,000 |
| Grants and other assistance to domestic individuals. | $5,250 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,770 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $19,249 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $118,956 |
| Advertising and promotion | $2,150 |
| Office expenses | $256 |
| Information technology | $178 |
| 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 | $2,048 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $355 |
| Insurance | $1,860 |
| All other expenses | $130,829 |
| Total functional expenses | $506,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,653 |
| Savings and temporary cash investments | $47,775 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,527 |
| 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 | $44,453 |
| Net Land, buildings, and equipment | $2,251 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $146,520 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $286,179 |
| Accounts payable and accrued expenses | $6,976 |
| 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 | $6,976 |
| Net assets without donor restrictions | $279,203 |
| 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 | $286,179 |