ILLINOIS PAINT 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

Phone

3098263643

Tax Period

2023-01-01 to 2023-12-31

ILLINOIS PAINT HORSE ASSOCIATION, founded in 1966, is a small nonprofit in the Recreation & Sports sector that reported $209K in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year.

Mission

TO DEVELOP HORSEMANSHIP AMOUNG YOUTH

Program Service Accomplishments

Program 1

FUTURITY PROGRAM IMPROVING BREED BY MAKING STALLIONS AVAILABLE THROUGH AUCTION. MEASURABLE RESULTS THROUGH ANNUAL COMPETITIONS. 250 PARTICIPANTS.

Program 2

SPONSOR AND APPROVE SHOWS, PROMOTE BREED THROUGH COMPETITION AND EXPOSITION. 20-22 SHOWS PER YEAR, 100 HORSES PER SHOW, OVER 200 ENTRIES.

Program 3

YOUTH PROGRAM DEVELOPS HORSEMANSHIP, SPORTSMANSHIP AND LEADERSHIP. 20 YOUTH MEMBERS.

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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 $1,698

Program Service Revenue $207,705

Investment Income $0

Other Revenue $0

TOTAL REVENUE $209,403

Expense Breakdown

Grants Paid $32,628

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $176,405

TOTAL EXPENSES $209,033

Year-over-Year Comparison

	2023	2022	Change
Revenue	$209,403	$224,595	-0.1%
Expenses	$209,033	$220,754	-0.1%
Net Income	$370	$3,841	-0.9%

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

N/A

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHELLY PREHODA	President	5.00	Officer	$0	$0	$0
PAIGE PREHODA	Secretary	3.00	Officer	$0	$0	$0
JERRY WYRICK	Treasurer	5.00	Officer	$0	$0	$0
PATTY DOUGLAS	Vice President	4.00	Officer	$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	No data	No data	No data	No data
2023	$209,403	$209,033	$58,457	$370
2022	$224,595	$220,754	$58,087	$3,841
2021	$277,474	$255,555	$54,346	$21,919
2020	$249,142	$249,105	$30,321	$37
2019	$247,917	$262,784	$35,521	$-14,867
2018	$231,329	$244,068	$52,567	$-12,739