HEARTS THERAPEUTIC EQUESTRIAN CENTER (EIN 770460907) - 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

1997

Legal Domicile

Principal Officer

THOM BATEMAN

Phone

8059641519

Tax Period

2024-01-01 to 2024-12-31

HEARTS THERAPEUTIC EQUESTRIAN CENTER, founded in 1997, is a community nonprofit in the Human Services sector that reported $1.2M in total revenue in fiscal year 2024. Revenue surged 112% from the prior year, signaling strong growth momentum. The organization ran a surplus of $575K, a strong 49% operating margin.

Mission

SINCE 1985, HEARTS THERAPEUTIC EQUESTRIAN CENTER HAS WORKED WITH INDIVIDUALS WITH PHYSICAL, INTELLECTUAL, AND EMOTIONAL DISABILITIES IN SANTA BARBARA BY UTILIZING HORSES TO INSPIRE, EMPOWER, AND STRENGTHEN PEOPLE OF ALL AGES.

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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 $971,372

Program Service Revenue $93,753

Investment Income $35,929

Other Revenue $70,568

TOTAL REVENUE $1,171,622

Expense Breakdown

Grants Paid $0

Salaries & Benefits $218,079

Fundraising Expenses $8,873

Program Expenses $484,324

Other Expenses $378,335

TOTAL EXPENSES $596,414

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,171,622	$552,777	+1.1%
Expenses	$596,414	$625,840	0.0%
Net Income	$575,208	$-73,063	-8.9%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOM BATEMAN	BOARD CHAIRMAN	20.00	Officer Director	$0	$0	$0
BOB MANNING	BOARD VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
SANDY LOVETT	BOARD MEMBER	1.00	Director	$0	$0	$0
TREY EVANS	BOARD MEMBER	1.00	Officer Director	$0	$0	$0
ANDREW WILSON	BOARD SECRETARY AND TREASU	5.00	Director	$0	$0	$0
BARRETT REED	BOARD MEMBER	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	$1,171,622	$596,414	$1,657,304	$575,208
2023	$552,777	$625,840	$1,199,494	$-73,063
2022	$590,592	$659,640	$1,433,069	$-69,048
2021	$632,962	$573,979	$1,545,007	$58,983
2020	$741,890	$482,086	$1,179,718	$259,804
2019	$1,195,523	$755,828	$838,447	$439,695
2018	$696,251	$765,004	$382,562	$-68,753

HEARTS THERAPEUTIC EQUESTRIAN CENTER