North Carolina Quarter Horse Association
- Assets
- $281.3k
- Revenue
- $282.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Mooresville, NC
- Founding
- 09/1990
- Data as of
- 12/2021
- EIN
- 56-1236676
Organization Overview
North Carolina Quarter Horse Association is located in Mooresville, NC. The organization was established in 1990. 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. North Carolina Quarter 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 12/2021, North Carolina Quarter Horse Association generated $282.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $303.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.3%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE OWNING, TRAINING, BREEDING, AND SHOWING HORSES REGISTERED WITH THE AMERICAN QUARTER HORSE ASSOCIATION AND TO PROMOTE AND DEVELOP GOOD HORSEMANSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENCOURAGE OWNING, TRAINING, BREEDING, AND SHOWING HORSES REGISTERED WITH THE AMERICAN QUARTER HORSE ASSOCIATION AND TO PROMOTE AND DEVELOP GOOD HORSEMANSHIP.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn Bodine Treasurer | OfficerTrustee | 10 | $5,850 |
Shirley Lombardo Secretary/director | OfficerTrustee | 10 | $3,300 |
Pat Benton Director | Trustee | 2 | $1,500 |
Josh Little President | OfficerTrustee | 5 | $0 |
Sherri Blankenship VP Of Admin | OfficerTrustee | 5 | $0 |
Shane Young Executive Vice President | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,800 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,800 |
| Total Program Service Revenue | $279,783 |
| Investment income | $24 |
| 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 | $282,607 |
| 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. | $10,650 |
| Compensation of current officers, directors, key employees. | $10,650 |
| 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 | $2,500 |
| 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 | $3,014 |
| 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 | $560 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $167 |
| Insurance | $0 |
| All other expenses | $2,796 |
| Total functional expenses | $303,276 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,465 |
| Savings and temporary cash investments | $216,887 |
| 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 | $14 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $901 |
| Total assets | $281,267 |
| 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 | $4,720 |
| Total liabilities | $4,720 |
| 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 | $276,547 |
| Total liabilities and net assets/fund balances | $281,267 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Virginia Horse Center Foundation Lexington, VA | $21,949,749 | $6,089,538 |
Upperville Colt & Horse Show Inc Upperville, VA | $4,423,395 | $3,060,055 |
Chastain Horse Park Ltd Atlanta, GA | $5,890,220 | $3,355,861 |
Georgia Quarter Horse Association St Simon Island, GA | $316,797 | $1,423,621 |
Virginia Gold Cup Association Inc Warrenton, VA | $148,262 | $1,262,964 |
Atlantic Coast Cutting Horse Association Inc Augusta, GA | $234,728 | $1,138,329 |
Georgia Dressage And Combined Training Association Inc Jasper, GA | $172,768 | $610,109 |
Rainbow Therapeutic Riding Center Haymarket, VA | $1,498,579 | $600,115 |
Middleburg Spring Race Assoc Inc Middleburg, VA | $1,992,145 | $686,163 |
Virginia Dressage Association Falls Church, VA | $193,356 | $411,811 |
Coweta Falls Steeplechase Inc Columbus, GA | $631,649 | $280,420 |
North Carolina Quarter Horse Association Mooresville, NC | $281,267 | $282,607 |