HORSESHOE FOUNDATION OF FLOYD COUNTY INC

EIN: 352086312 501(c)(3) Public & Societal Benefit

NEW ALBANY, IN

Total Revenue
$3,983,343
Total Expenses
$2,347,825
Total Assets
$44,201,512
Net Assets
$40,554,149
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
IN
Principal Officer
BRAD SEIGEL
Phone
8129454332
Tax Period
2024-01-01 to 2024-12-31

HORSESHOE FOUNDATION OF FLOYD COUNTY INC, founded in 2000, is a community nonprofit in the Public & Societal Benefit sector that reported $4.0M in total revenue in fiscal year 2024. Revenue fell 27% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.6M, a strong 41% operating margin.

Mission

TO BENEFIT THE RESIDENTS OF FLOYD COUNTY THROUGH GRANTS, SCHOLARSHIPS, AND SMALL BUSINESS LOANS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,464,651
Program Service Revenue $0
Investment Income $1,517,192
Other Revenue $1,500
TOTAL REVENUE $3,983,343

Expense Breakdown

Grants Paid $1,851,104
Salaries & Benefits $245,946
Fundraising Expenses $0
Program Expenses $2,167,930
Other Expenses $250,775
TOTAL EXPENSES $2,347,825

Year-over-Year Comparison

2024 2023 Change
Revenue $3,983,343 $5,479,749 -0.3%
Expenses $2,347,825 $2,589,465 -0.1%
Net Income $1,635,518 $2,890,284 -0.4%
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

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Governance

Voting Members
7
Independent Members
7
Employees
3
Volunteers
52

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
6
$130,695
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MAYOR JEFF GAHAN VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
STEFANIE GRIFFITH BOARD MEMBER 1.00
Director
$0 $0 $0
JUDY HESS SECRETARY 1.00
Officer Director
$0 $0 $0
BRAD SEIGEL TREASURER 1.00
Officer Director
$0 $0 $0
JENNIE COLLIER BOARD MEMBER 1.00
Director
$0 $0 $0
RENEE NADEAU BOARD MEMBER 1.00
Director
$0 $0 $0
DR AL KNABLE PRESIDENT 1.00
Officer Director
$0 $0 $0
DR JOSH KORNBERG EXECUTIVE DIRECTOR - THRU 10/11/24 45.00
Officer
$101,108 $8,417 $109,525
TYLER BLISS EXECUTIVE DIRECTOR - EFF. 11/11/24 45.00
Officer
$19,635 $1,535 $21,170
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
2024 $3,983,343 $2,347,825 $44,201,512 $1,635,518
2023 $5,479,749 $2,589,465 $39,939,535 $2,890,284
2022 $3,791,556 $2,969,766 $36,139,170 $821,790
2021 $8,593,173 $2,436,992 $43,854,636 $6,156,181
2020 $6,490,239 $1,975,037 $39,133,528 $4,515,202
2018 $3,510,643 $2,044,273 $29,927,435 $1,466,370
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