TENNESSEE QUARTER HORSE ASSOCIATION (EIN 621413020) - 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

1989

Legal Domicile

Principal Officer

KORRY BAILEY COLE

Phone

9312654567

Tax Period

2023-01-01 to 2023-12-31

TENNESSEE QUARTER HORSE ASSOCIATION, founded in 1989, is a small nonprofit that reported $253K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year.

Mission

PROMOTE THE AMERICAN QUARTER HORSE IN TENNESSEE THROUGH HORSE SHOWS, CLINICS, TRAIL RIDES, AND INFORMATION ABOUT WHAT IS GOING ON IN TENNESSEE AND IN THE NATION CONCERNING THE AMERICAN QUARTER HORSE.

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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 $16,066

Program Service Revenue $236,695

Investment Income $7

Other Revenue $0

TOTAL REVENUE $252,768

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $265,670

Other Expenses $275,342

TOTAL EXPENSES $275,342

Year-over-Year Comparison

	2023	2022	Change
Revenue	$252,768	$292,103	-0.1%
Expenses	$275,342	$254,581	+0.1%
Net Income	$-22,574	$37,522	-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

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

$10,875

Total Directors

$10,875

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MITCH LESLIE	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
MATT ADERMANN	PRESIDENT	2.00	Officer Director	$0	$0	$0
JERRY ALLEN	FIRST VICE PRESIDENT	2.00	Director	$0	$0	$0
KORRY BAILEY COLE	EXECUTIVE TREASURER	10.00	Officer Director	$10,875	$0	$10,875
JUDY HEIM	POINTS SECRETARY	1.00	Director	$0	$0	$0
TIFFANY LABOUT	YOUTH ADVISOR	1.00	Director	$0	$0	$0
KIM BURRITT	AMATEUR PRESIDENT	1.00	Director	$0	$0	$0
MADELYN MACLARREN	YOUTH PRESIDENT	1.00	Director	$0	$0	$0
PATRICK KAYSER	SECOND VICE PRESIDENT	1.00	Director	$0	$0	$0
HOLLY SPOONER	EXECUTIVE SECRETARY	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	No data	No data	No data	No data
2023	$252,768	$275,342	$168,214	$-22,574
2022	$292,103	$254,581	$190,788	$37,522
2021	$216,944	$202,059	$153,266	$14,885
2018	$164,217	$160,547	$116,983	$3,670

TENNESSEE QUARTER HORSE ASSOCIATION