NATIONAL REINING HORSE ASSOCIATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1966

Legal Domicile

Principal Officer

MARK BLAKE

Phone

4059467400

Tax Period

2023-07-01 to 2024-06-30

NATIONAL REINING HORSE ASSOCIATION, founded in 1966, is a mid-sized nonprofit in the Food, Agriculture & Nutrition sector that reported $15.5M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $14.7M left a modest 5% surplus.

Mission

TO PROMOTE AND ENCOURAGE PUBLIC INTEREST IN AGRICULTURAL AND RANCHING ACTIVITIES THROUGH THE EXHIBITION OF THE REINING HORSE AND RELATED PROGRAMS.

Program Service Accomplishments

Program 1

THE NRHA MANAGED EVENTS INCLUDE THE NRHA FUTURITY, THE NRHA DERBY, THE EUROPEAN FUTURITY, AND THE EUROPEAN DERBY. THESE EVENTS DEMONSTRATE TO THE PUBLIC THE SKILLS AND TECHNIQUES OF THE SPORT OF...

THE NRHA MANAGED EVENTS INCLUDE THE NRHA FUTURITY, THE NRHA DERBY, THE EUROPEAN FUTURITY, AND THE EUROPEAN DERBY. THESE EVENTS DEMONSTRATE TO THE PUBLIC THE SKILLS AND TECHNIQUES OF THE SPORT OF REINING. THESE EVENTS PROMOTE AND ENCOURAGE DEVELOPMENT OF AND PUBLIC INTEREST IN THE SPORT OF REINING. THE NRHA'S FUTURITY IS THE LARGEST PUBLIC SHOW OF REINING HORSES IN THE WORLD.

Program 2

THE NRHA PUBLISHES A MONTHLY MAGAZINE DISTRIBUTED WORLDWIDE THAT EDUCATES, INFORMS AND PROMOTES REINING. THE MAGAZINE PROVIDES CONTESTANTS AND SPECTATORS A BETTER UNDERSTANDING OF A PROPER...

THE NRHA PUBLISHES A MONTHLY MAGAZINE DISTRIBUTED WORLDWIDE THAT EDUCATES, INFORMS AND PROMOTES REINING. THE MAGAZINE PROVIDES CONTESTANTS AND SPECTATORS A BETTER UNDERSTANDING OF A PROPER PERFORMANCE OF THE REINING HORSE IN THE SHOW ARENA.

Program 3

THE NRHA MEMBERSHIP PROGRAMS INCLUDE THE JUDGES AND BREEDING PROGRAMS. THE NRHA JUDGES PROGRAM PROMOTES JUDGES SCHOOLS AND CLINICS THROUGHOUT THE WORLD. SUCCESSFUL CANDIDATES BECOME LICENSED NRHA...

THE NRHA MEMBERSHIP PROGRAMS INCLUDE THE JUDGES AND BREEDING PROGRAMS. THE NRHA JUDGES PROGRAM PROMOTES JUDGES SCHOOLS AND CLINICS THROUGHOUT THE WORLD. SUCCESSFUL CANDIDATES BECOME LICENSED NRHA JUDGES. THE JUDGES PROGRAM IS IMPERATIVE FOR THE REINING INDUSTRY TO MAINTAIN ITS INTEGRITY AND GROWTH. THESE PROGRAMS DEVELOP SUITABLE AND PROPER STANDARDS OF PERFORMANCE AND JUDGING INTENDED TO GOVERN ALL REINING HORSE CONTESTS SPONSORED AND APPROVED BY THE NRHA. THE NRHA BREEDING PROGRAM ENCOURAGES THE DEVELOPMENT AND BREEDING OF BETTER REINING HORSES BY PROVIDING AFFORDABLE BREEDING TO QUALITY BLOODLINES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $12,021,839

Investment Income $485,728

Other Revenue $3,023,854

TOTAL REVENUE $15,531,421

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,675,264

Fundraising Expenses $0

Other Expenses $12,010,400

TOTAL EXPENSES $14,685,664

Year-over-Year Comparison

	2023	2022	Change
Revenue	$15,531,421	$13,880,047	+0.1%
Expenses	$14,685,664	$13,623,232	+0.1%
Net Income	$845,757	$256,815	+2.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$674,295

Total Directors

$18,475

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GARY CARPENTER	COMMISSIONER THRU 12/31/2023	50.0	Officer	$250,889	$23,476	$274,365
JOHN FOY	CHIEF FINANCIAL OFFICER	50.0	Officer	$209,447	$22,273	$231,720
BILLY SMITH	COMMISSIONER STARTING 1/1/2024	50.0	Officer	$158,475	$9,735	$168,210
MAIK BARTMANN	DIRECTOR	1.0	Director	$11,375	$0	$11,375
DRAKE JOHNSON	DIRECTOR	1.0	Director	$3,600	$0	$3,600
MARGARET FUCHS	DIRECTOR	1.0	Director	$3,500	$0	$3,500
MARK BLAKE	PRESIDENT	10.0	Officer Director	$0	$0	$0
MIKE HANCOCK	VICE PRESIDENT	2.0	Officer Director	$0	$0	$0
ED BRICKER	EXEC. COMM. MEMBER	2.0	Director	$0	$0	$0
SHANE BROWN	EXEC. COMM. MEMBER THRU 12/23	2.0	Director	$0	$0	$0
RICK CLARK	EXEC. COMM. MEMBER	2.0	Director	$0	$0	$0
ROB CURTIS	EXEC. COMM. MEMBER BEG. 1/24	2.0	Director	$0	$0	$0
SEBASTIAN PETROLL	EXEC. COMM. MEMBER BEG. 1/24	2.0	Director	$0	$0	$0
JOHN TAGUE	EXEC. COMM. MEMBER	2.0	Director	$0	$0	$0
ANN SALMON ANDERMAN	DIRECTOR THRU 12/31/2023	1.0	Director	$0	$0	$0
TIM ANDERSON	DIRECTOR	1.0	Director	$0	$0	$0
MICHAEL DAVIS	DIRECTOR STARTING 1/1/2024	1.0	Director	$0	$0	$0
ANDRE DE BELLEFEUILLE	DIRECTOR STARTING 1/1/2024	1.0	Director	$0	$0	$0
LYNDON HALE	DIRECTOR	1.0	Director	$0	$0	$0
LARRY J HANDLEY	DIRECTOR THRU 12/31/2023	1.0	Director	$0	$0	$0
RUDI KRONSTEINER	DIRECTOR	1.0	Director	$0	$0	$0
JOAO MARCOS	DIRECTOR STARTING 1/1/2024	1.0	Director	$0	$0	$0
KAREN MONTGOMERY	DIRECTOR THRU 12/31/2023	1.0	Director	$0	$0	$0
FRANCISCO MOURA	DIRECTOR THRU 12/31/2023	1.0	Director	$0	$0	$0
RUBEN PACHECO	DIRECTOR	1.0	Director	$0	$0	$0
GINGER SCHMERSAL	DIRECTOR	1.0	Director	$0	$0	$0
DALLAS SCHWERDT	DIRECTOR THRU 12/31/2023	1.0	Director	$0	$0	$0
KAREN SHEDLAUSKAS	DIRECTOR	1.0	Director	$0	$0	$0
ANDREA STILLO	DIRECTOR STARTING 1/1/2024	1.0	Director	$0	$0	$0
KYLIE WARN	DIRECTOR	1.0	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$15,531,421	$14,685,664	$17,473,951	$845,757
2023	$13,880,047	$13,623,232	$17,567,764	$256,815
2022	$12,210,710	$11,939,303	$12,360,658	$271,407
2021	$11,137,373	$9,863,409	$11,899,947	$1,273,964
2020	$10,177,436	$10,119,024	$11,090,447	$58,412
2019	$10,463,541	$10,547,524	$10,860,605	$-83,983
2018	$10,712,170	$10,621,354	$9,938,822	$90,816