Horsepower Foundation
- Assets
- $1.7m
- Revenue
- $85.1k
- Investments
- $0.0
- Employees
- 0
- Location
- High Point, NC
- Founding
- 11/2013
- Data as of
- 12/2021
- EIN
- 46-3131465
Organization Overview
Horsepower Foundation is located in High Point, NC. The organization was established in 2013. According to its NTEE Classification (P11) the organization is classified as: Single Organization Support, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Horsepower 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, Horsepower Foundation generated $85.1k 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 (14.3%) each year. All expenses for the organization totaled $53.9k during the year ending 12/2021. 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
TO RAISE FUNDS AND ASSETS FOR THE BENEFIT OF HORSEPOWER, INC. DBA HORSEPOWER THERAPEUTIC LEARNING CENTER, A NORTH CAROLINE NONPROFIT CORPORATION WHOSE MISSION IS TO PROMOTE AND ENHANCE THE WELFARE OF INDIVIDUALS WITH DISABILITIES BY PROVIDING A PROGRAM OF THERAPEUTIC, EDUCATIONAL AND RECREATIONAL VALUE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO MAINTAIN PROPERTY THAT IS USED BY HORSEPOWER, INC. FOR EQUESTRIAN PROGRAMS AND ADMINISTRATIVE OFFICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Rice Board Chair | OfficerTrustee | 2 | $0 |
Caroline North Secretary/tr | OfficerTrustee | 2 | $0 |
Jim Burgio Director | Trustee | 2 | $0 |
Bernard Carrey Director | Trustee | 2 | $0 |
Tim Clifford Director | Trustee | 2 | $0 |
Pat Rosser Director | Trustee | 2 | $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 | $71,895 |
| Noncash contributions included in lines 1a–1f | $1,547 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $71,895 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $85,095 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,547 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,878 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $188 |
| 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 | $40,159 |
| Insurance | $2,323 |
| All other expenses | $0 |
| Total functional expenses | $53,882 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,870 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4 |
| 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 | $1,535,722 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,659,596 |
| 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 | $1,659,596 |
| 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 | $1,659,596 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Horsepower Foundation has recieved totaling $72.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $72 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Real Property Holdings Inc Charlotte, NC | $53,988,196 | $19,881,979 |
Communities In Schools Of North Carolina Inc Raleigh, NC | $8,297,246 | $8,586,637 |
Lutheran Homes Of South Carolina Foundation Inc Irmo, SC | $47,033,372 | $5,922,264 |
The Arc Davidson County & Greater Nashville Nashville, TN | $1,667,294 | $2,925,688 |
Thrift Alliance Nashville, TN | $769,764 | $2,756,268 |
Virginia Baptist Homes Foundation Inc Glen Allen, VA | $12,836,580 | $2,666,939 |
Center For Developmental Services D-B-A Cds Greenville, SC | $1,715,779 | $2,187,540 |
Goodwin House Foundation Alexandria, VA | $20,888,847 | $5,521,365 |
Georgia Youth Homes Foundation Madison, GA | $25,002,046 | $1,469,118 |
Friends Of Caroline Hospice Of Beaufort Inc Ridgeland, SC | $9,149,146 | $2,113,389 |
Christian Service Charities Inc Alexandria, VA | $0 | $1,688,792 |
Charlotte Rescue Mission Social Enterprise Charlotte, NC | $538,263 | $1,007,088 |