American Quarter Horse Foundation
- Assets
- $55.6m
- Revenue
- $10.2m
- Investments
- $0.0
- Employees
- 8
- Location
- Amarillo, TX
- Founding
- 07/1976
- Data as of
- 09/2021
- EIN
- 51-0187823
Organization Overview
American Quarter Horse Foundation is located in Amarillo, TX. The organization was established in 1976. According to its NTEE Classification (D03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Animal-Related and related organizations. As of 09/2021, American Quarter Horse Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Quarter Horse 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 09/2021, American Quarter Horse Foundation generated $10.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $3.2m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, American Quarter Horse Foundation has awarded 87 individual grants totaling $3,008,273. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CONNECT HORSES AND PEOPLE THROUGH CHARITABLE GIVING IN ORDER TO DEVELOP AND SUPPORT PROGRAMS OR INITIATIVES THAT PRESERVE OUR HORSE'S LEGACY AND FURTHER THE OVERALL WELL-BEING OF THE AMERICAN QUARTER HORSE AND THE PEOPLE WHO COMPRISE THE QUARTER HORSE FAMILY THROUGH SCHOLARSHIPS, RESEARCH, EQUINE ASSISTED ACTIVITIES AND THERAPIES, THE HALL OF FAME & MUSEUM, AND OTHER PROGRAMS OF INTEREST TO THE QUARTER HORSE FAMILY.
Describe the Organization's Program Activity:
HALL OF FAME AND MUSEUM - TO HONOR THE HORSES AND PEOPLE WHO HAVE TRANSFORMED THE AMERICAN QUARTER HORSE INDUSTRY THROUGH THE HALL OF FAME AND TO INSPIRE PEOPLE TO DISCOVER AND EXPLORE THEIR PASSION FOR HORSES THROUGH THE MUSEUM. SERVED APPROXIMATELY 748 VISITORS FROM 10/1/20 TO 9/30/21. THE HALL OF FAME AND MUSEUM WAS CLOSED TO THE PUBLIC FOR A PORTION OF FISCAL YEAR 2021 DUE TO THE COVID-19 PANDEMIC.
EQUINE RESEARCH - TO SUPPORT THE HEALTH AND WELFARE OF OUR HORSE THROUGH RESEARCH THAT CHALLENGES THE FRONTIERS OF KNOWLEDGE AND PROMOTES THE CONTINUED WELL-BEING OF ALL HORSES.
SCHOLARSHIP FUND - TO SUPPORT FUTURE INDUSTRY LEADERS IN BUILDING KNOWLEDGE AND SKILLS THROUGH EDUCATION TO ACCOMPLISH LIFE-LONG DREAMS THROUGH SCHOLARSHIPS. 198 SCHOLARSHIPS WERE PAID IN THE YEAR ENDING 9/30/21.
EQUINE ASSISTED ACTIVITIES & THERAPIES - TO SUPPORT EDUCATION THROUGH EQUINE ASSISTED ACTIVITIES AND THERAPIES TO PROVIDE FREEDOM AND EMPOWERMENT TO INDIVIDUALS IN NEED (AMERICA'S HORSE CARES).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anna Morrison Chief Foundation Officer & Cio | Officer | 30 | $119,331 |
Floyd E Butch Wise President Through March 2021 | OfficerTrustee | 2 | $0 |
Dr Scott Myers 1st Vice President | OfficerTrustee | 2 | $0 |
Norm Luba President As Of March 2021 | OfficerTrustee | 2 | $0 |
Kenneth Banks 2nd Vice President | OfficerTrustee | 2 | $0 |
Craig Huffhines Executive Vice President | Officer | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Quarter Horse Association Administration Services | 9/29/21 | $172,062 |
Christine Marie Sitz Chief Foundation Officer Services | 9/29/21 | $138,996 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $145,671 |
| Related organizations | $0 |
| Government grants | $10,589 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,015,884 |
| Noncash contributions included in lines 1a–1f | $17,756 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,172,144 |
| Total Program Service Revenue | $91,118 |
| Investment income | $768,394 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $9,167 |
| Net Rental Income | $1,635 |
| Net Gain/Loss on Asset Sales | $8,184,260 |
| Net Income from Fundraising Events | -$21,521 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,767 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,207,554 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $395,514 |
| Grants and other assistance to domestic individuals. | $520,099 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $28,310 |
| Compensation of current officers, directors, key employees. | $8,493 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $208,807 |
| Pension plan accruals and contributions | $24,746 |
| Other employee benefits | $10,317 |
| Payroll taxes | $21,935 |
| Fees for services: Management | $128,623 |
| Fees for services: Legal | $1,008 |
| Fees for services: Accounting | $5,665 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,701 |
| Fees for services: Other | $792,889 |
| Advertising and promotion | $7,541 |
| Office expenses | $31,754 |
| Information technology | $51,375 |
| Royalties | $0 |
| Occupancy | $290,767 |
| Travel | $8,669 |
| 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 | $512,186 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,209,605 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $708,056 |
| Savings and temporary cash investments | $2,265,032 |
| Pledges and grants receivable | $203,320 |
| 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 | $45,145 |
| Net Land, buildings, and equipment | $5,045,189 |
| Investments—publicly traded securities | $45,100,593 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,262,657 |
| Total assets | $55,629,992 |
| Accounts payable and accrued expenses | $504,548 |
| Grants payable | $126,306 |
| Deferred revenue | $1,215 |
| 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 | $632,069 |
| Net assets without donor restrictions | $18,799,963 |
| Net assets with donor restrictions | $36,197,960 |
| 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 | $55,629,992 |
Grants Awarded
Over the last fiscal year, American Quarter Horse Foundation has awarded $300,706 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
Lexington, KY PURPOSE: EQUINE RESEARCH | $104,116 |
TEXAS A&M UNIVERSITYTX AGRILIFE RESEARCH PURPOSE: EQUINE RESEARCH | $99,764 |
East Lansing, MI PURPOSE: EQUINE RESEARCH | $48,156 |
Grand Rapids, MI PURPOSE: AMERICA'S HORSE CARES THERAPEUTIC RIDING | $10,000 |
UNIVERSITY OF WISCONSIN RESEARCH AND SPONSORED PROGRAM PURPOSE: EQUINE RESEARCH | $9,370 |
Rose City, TX PURPOSE: AMERICA'S HORSE CARES THERAPEUTIC RIDING | $8,800 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that American Quarter Horse Foundation has recieved totaling $1,399,947.
| Awarding Organization | Amount |
|---|---|
Burnett Foundation Fort Worth, TX PURPOSE: GENERAL SUPPORT | $813,947 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: ENVIRONMENT & ANIMAL PROTECTION | $551,250 |
Wyoming Community Foundation Laramie, WY PURPOSE: Environment and Animals | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ENVIRONMENTAL AND ANIMALS | $8,750 |
Permian Basin Area Foundation Midland, TX PURPOSE: Educational | $6,000 |
Endowment Analysis
| Beg. Balance | $30,099,044 |
| Earnings | $4,954,839 |
| Net Contributions | $757,574 |
| Other Expense | $1,360,278 |
| Ending Balance | $34,451,179 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Quarter Horse Foundation Amarillo, TX | $55,629,992 | $10,207,554 |
The International Cat Association Inc Harlingen, TX | $2,234,918 | $2,919,783 |
Horseshoe Bay Property Owners Association Inc Horseshoe Bay, TX | $3,354,782 | $1,910,719 |
Louisiana Wildlife Agents Association Inc Houma, LA | $333,907 | $677,129 |
International Pet And Animal Transportation Association Hawkins, TX | $881,006 | $910,280 |
Exotic Wildlife Association Kerrville, TX | $1,728,173 | $630,124 |
Louisana Veterinary Medical Baton Rouge, LA | $837,375 | $401,035 |
International Veterinary Acupuncture Society Inc Portland, TX | $993,426 | $204,914 |
National Shellfisheries Association Corpus Christi, TX | $560,816 | $208,030 |
Bear Branch Trail Association Kingwood, TX | $1,241,158 | $323,196 |
Texas Greyhound Association Inc Lorena, TX | $3,184,999 | $806,773 |
Crockett County Deerfest Association Ozona, TX | $270,926 | $192,691 |