MICHIGAN QUARTER HORSE ASSOCIATION (EIN 381861852) - Form 990 Financial Analysis & Trantor Score

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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

1955

Legal Domicile

Principal Officer

CHRIS PERNICIARO

Phone

6162258211

Tax Period

2025-01-01 to 2025-12-31

MICHIGAN QUARTER HORSE ASSOCIATION, founded in 1955, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2025. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $1.1M left a modest 5% surplus.

Mission

TO PROMOTE THE INTEREST OF QUARTER HORSE OWNERS, PROVIDE NECESSARY SERVICES TO PERSONS INTERESTED IN OWNING, BREEDING, TRAINING, SHOWING AND RACING QUARTER HORSES, ENCOURAGE ETHICAL STANDARDS OF SPORTSMANSHIP AND COMPETITION AND PROVIDE FOR THE ADVANCEMENT OF YOUTH PARTICIPATION.

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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 (2025)

Revenue Breakdown

Contributions & Grants $63,269

Program Service Revenue $1,053,453

Investment Income $12,362

Other Revenue $33,820

TOTAL REVENUE $1,162,904

Expense Breakdown

Grants Paid $0

Salaries & Benefits $109,605

Fundraising Expenses $0

Program Expenses $962,126

Other Expenses $996,653

TOTAL EXPENSES $1,106,258

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,162,904	$1,012,889	+0.1%
Expenses	$1,106,258	$997,283	+0.1%
Net Income	$56,646	$15,606	+2.6%

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

$75,194

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KRISTIE WORONIECKI	SECRETARY TREASURER	40.00	Officer	$75,194	$0	$75,194
LINDA BARNES	DIRECTOR	1.00	Director	$0	$0	$0
HEATHER BOGGETTA	DIRECTOR	1.00	Director	$0	$0	$0
AUSTIN GOODING	DIRECTOR	1.00	Director	$0	$0	$0
DANIELLE LINDSAY	DIRECTOR	1.00	Director	$0	$0	$0
MONTY MONTGOMERY	DIRECTOR	1.00	Director	$0	$0	$0
KELLY DYKSTRA NICHOLS	DIRECTOR	1.00	Director	$0	$0	$0
NICOLE VELDHOFF	DIRECTOR	1.00	Director	$0	$0	$0
KATHERINE WEST	DIRECTOR	1.00	Director	$0	$0	$0
VENESSA KNOBLOCK	DIRECTOR	0.00	Director	$0	$0	$0
KEVIN CUBITT	VICE PRESIDENT	1.00	Officer	$0	$0	$0
JEFF MOODY	VPE	1.00	Officer	$0	$0	$0
CHRIS PERNICIARO	PRESIDENT	1.00	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	$1,162,904	$1,106,258	$634,347	$56,646
2024	$1,012,889	$997,283	$531,765	$15,606
2023	$959,245	$993,736	$569,448	$-34,491
2022	$948,751	$898,278	$561,468	$50,473
2021	$780,203	$837,423	$499,038	$-57,220
2020	$601,214	$609,295	$443,424	$-8,081
2019	$858,686	$822,061	$460,114	$36,625
2018	$784,399	$736,921	$411,705	$47,478

MICHIGAN QUARTER HORSE ASSOCIATION