UTAH QUARTER HORSE RACING ASSOCIATION INC (EIN 832976715) - 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

2019

Legal Domicile

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.

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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 (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

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

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

Total Directors

Key Employees

Highest Compensated

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

UTAH QUARTER HORSE RACING ASSOCIATION INC