North Carolina Quarter Horse Assoc… - Form 990 Financial Data

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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

1963

Legal Domicile

Principal Officer

Shane Young

Phone

7049056540

Tax Period

2024-01-01 to 2024-12-31

North Carolina Quarter Horse Association, founded in 1963, is a small nonprofit that reported $235K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

To encourage owning, training, breeding, and showing horses registered with the American Quarter Horse Association and to promote and develop good horsemanship.

Program Service Accomplishments

Program 1

Expenses: $205,055 Revenue: $227,407

To encourage owning, training, breeding, and showing horses registered with the American Quarter Horse Association and to promote and develop good horsemanship.

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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 (2024)

Revenue Breakdown

Contributions & Grants $7,420

Program Service Revenue $227,407

Investment Income $21

Other Revenue $0

TOTAL REVENUE $234,848

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,900

Fundraising Expenses $0

Program Expenses $205,055

Other Expenses $228,049

TOTAL EXPENSES $237,949

Year-over-Year Comparison

	2024	2023	Change
Revenue	$234,848	$213,306	+0.1%
Expenses	$237,949	$208,020	+0.1%
Net Income	$-3,101	$5,286	-1.6%

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

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

$8,700

Total Directors

$9,900

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Shane Young	President	5.00	Officer Director	$0	$0	$0
Randy Ratliff	National Director	4.00	Director	$0	$0	$0
Lynn Bodine	Treasurer	10.00	Officer Director	$5,400	$0	$5,400
Pat Benton	Director	2.00	Director	$1,200	$0	$1,200
Sherri Blankenship	VP of Admin	5.00	Officer Director	$0	$0	$0
Coy Herbert	Executive Vice President	5.00	Officer Director	$0	$0	$0
Rick Rogers	Director	1.00	Director	$0	$0	$0
Alex Ross	Director	1.00	Director	$0	$0	$0
Courtney Clagg	Youth Advisor	2.00	Director	$0	$0	$0
Kathleen Orphanos	Director	2.00	Director	$0	$0	$0
Allison Parker	Director	1.00	Director	$0	$0	$0
Colleen Anfinson	Director	2.00	Director	$0	$0	$0
Shirley Lombardo	Secretary/Director	10.00	Officer Director	$3,300	$0	$3,300
Larry Little	National Director	1.00	Director	$0	$0	$0
Robbie Haskins	Director	1.00	Director	$0	$0	$0
Brett Schmidt	Director	2.00	Director	$0	$0	$0
Laura Price	Director	1.00	Director	$0	$0	$0
Susan Smith	Director	1.00	Director	$0	$0	$0
Nick Nixon	Director	1.00	Director	$0	$0	$0
Gale Little	Director Emeriti	1.00	Director	$0	$0	$0
Linda Falls	Director	1.00	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
2024	$234,848	$237,949	$275,983	$-3,101
2023	$213,306	$208,020	$284,558	$5,286
2022	$227,976	$235,085	$279,017	$-7,109
2021	$282,607	$303,276	$281,267	$-20,669
2020	$348,566	$273,267	$311,840	$75,299
2019	$141,912	$166,086	$227,756	$-24,174
2018	$169,249	$206,814	$249,465	$-37,565

North Carolina Quarter Horse Association