Bowman Second Chance Thoroughbred Adoption

EIN: 464659348 501(c)(3) Animal-Related

Minnetonka, MN

Total Revenue
$267,008
Total Expenses
$248,887
Total Assets
$183,044
Net Assets
$175,490
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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
2013
Legal Domicile
ND
Principal Officer
Brandon T Gustafson
Phone
9522206028
Tax Period
2024-01-01 to 2024-12-31

Bowman Second Chance Thoroughbred Adoption, founded in 2013, is a small nonprofit in the Animal-Related sector that reported $267K in total revenue in fiscal year 2024. Revenue surged 37% from the prior year, signaling strong growth momentum. Expenses of $249K left a modest 7% surplus.

Mission

Rescue and rehabilitate former races horses and adopt out to good home

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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 $233,861
Program Service Revenue $33,000
Investment Income $147
Other Revenue $0
TOTAL REVENUE $267,008

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $75
Program Expenses $232,162
Other Expenses $248,887
TOTAL EXPENSES $248,887

Year-over-Year Comparison

2024 2023 Change
Revenue $267,008 $194,611 +0.4%
Expenses $248,887 $103,945 +1.4%
Net Income $18,121 $90,666 -0.8%
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
5
Independent Members
N/A
Employees
N/A
Volunteers
N/A

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
5
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DIANA CURTISS Vice President 0.00
Officer
$0 $0 $0
DAREL GUSTAFSON Secretary 0.00
Officer
$0 $0 $0
ANDREA GUSTAFSON Director 0.00
Officer
$0 $0 $0
RICHARD BOWMAN Director 0.00
Officer
$0 $0 $0
BRANDON GUSTAFSON President 0.00
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
2024 $267,008 $248,887 $183,044 $18,121
2024 $307,008 $248,887 $223,044 $58,121
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