UTAH QUARTER HORSE RACING ASSOCIATION INC

EIN: 832976715 Community Improvement

WEST HAVEN, UT

Total Revenue
$508,134
Total Expenses
$489,045
Total Assets
$225,721
Net Assets
$-16,470
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
UT
Principal Officer
BRANDON HEAPS
Phone
8015641634
Tax Period
2025-01-01 to 2025-12-31

UTAH QUARTER HORSE RACING ASSOCIATION INC, founded in 2019, is a small nonprofit in the Community Improvement sector that reported $508K in total revenue in fiscal year 2025. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $489K left a modest 4% surplus.

Mission

PROMOTE THE QUARTER HORSE INDUSTRY IN UTAH AND CARE OF THE ANIMALS.

Program Service Accomplishments

Program 1

TO PROMOTE INTEREST IN AND PROPER CARE OF THE QUARTER HORSE AND TO SUSTAIN, PROMOTE, AND EXPAND THE HORSE BREEDING AND HORSE RACING INDUSTRIES IN THE STATE OF UTAH.

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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 (2025)

Revenue Breakdown

Contributions & Grants $171,500
Program Service Revenue $331,786
Investment Income $4,848
Other Revenue $0
TOTAL REVENUE $508,134

Expense Breakdown

Grants Paid $0
Salaries & Benefits $30,671
Fundraising Expenses $0
Other Expenses $86,417
TOTAL EXPENSES $489,045

Year-over-Year Comparison

2025 2024 Change
Revenue $508,134 $651,014 -0.2%
Expenses $489,045 $652,641 -0.3%
Net Income $19,089 $-1,627 -12.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
10
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
12
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRANDON HEAPS PRESIDENT N/A
Officer
$0 $0 $0
JOE HADLEY VICE PRESIDE N/A
Officer
$0 $0 $0
HADDIE HADLEY SECRETARY N/A
Officer
$0 $0 $0
ANGI KELLETT TREASURER N/A
Officer
$0 $0 $0
BILL SHULDBERG BOARD MEMBER N/A
Officer
$0 $0 $0
CODY HOUSE BOARD MEMBER N/A
Officer
$0 $0 $0
JOSH THEURER BOARD MEMBER N/A
Officer
$0 $0 $0
JOYCE MOWER BOARD MEMBER N/A
Officer
$0 $0 $0
KYLE COOK BOARD MEMBER N/A
Officer
$0 $0 $0
SHANE DOUGLAS BOARD MEMBER N/A
Officer
$0 $0 $0
TAYLOR JOHNSON BOARD MEMBER N/A
Officer
$0 $0 $0
TODD THOMAS BOARD MEMBER N/A
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 $508,134 $489,045 $225,721 $19,089
2024 No data No data No data No data
2023 $510,737 $523,866 $205,560 $-13,129
2022 $623,009 $570,926 $225,462 $52,083
2021 $596,071 $656,093 $227,379 $-60,022
2020 $714,774 $691,276 $196,401 $23,498
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