AMERICAN ASSOCIATION OF EQUINE PRA… - 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

1954

Legal Domicile

Principal Officer

DAVID L FOLEY

Phone

8592330147

Tax Period

2023-07-01 to 2024-06-30

AMERICAN ASSOCIATION OF EQUINE PRACTITIONERS, founded in 1954, is a community nonprofit that reported $7.8M in total revenue in fiscal year 2023. Expenses of $7.4M left a modest 5% surplus.

Mission

TO IMPROVE THE HEALTH AND WELFARE OF THE HORSE, TO FURTHER THE PROFESSIONAL DEVELOPMENT OF ITS MEMBERS, AND TO PROVIDE RESOURCES AND LEADERSHIP FOR THE BENEFIT OF THE EQUINE INDUSTRY.

Program Service Accomplishments

Program 1

Expenses: $2,745,980 Revenue: $4,257,205

ANNUAL CONVENTION FOR THE ORGANIZATION WHICH PROMOTES THE KNOWLEDGE OF TEH EQUINE DISEASES THROUGH SCIENTIFIC PROGRAMS. ANNUAL SEMINARS, WHICH ARE SIMILAR TO THE CONVENTION, THAT FOCUS ON SPECIFIC...

ANNUAL CONVENTION FOR THE ORGANIZATION WHICH PROMOTES THE KNOWLEDGE OF TEH EQUINE DISEASES THROUGH SCIENTIFIC PROGRAMS. ANNUAL SEMINARS, WHICH ARE SIMILAR TO THE CONVENTION, THAT FOCUS ON SPECIFIC VETERINARY TOPICS AND VETERINARY PRACTICE MANAGEMENT.

Program 2

Expenses: $2,634,679 Revenue: $2,878,016

AAEP WORKS TO IMPROVE UPON THE CURRENT EQUINE PRACTICE MODEL IN AN EFFORT TO IMPROVE THE PRACTICE LIFE OF ITS MEMBERS AND RETENTION WITHIN THE PROFESSION. AAEP PROVIDES INNOVATION AND IMPROVEMENTS IN ITS CONTINUING EDUCATION OFFERS TO MEMBERS. EDUCATION IS MEMBERSHIP-DRIVEN AND FOCUSED ON PROVIDING EDUCATION ON TIMELY TOPICS AND ENHANCING THE MEMBER EXPERIENCE.AAEP STRIVES TO IMPROVE EQUINE WELFARE, PARTICULARLY WITH THE RACING AND PERFORMANCE HORSE SECTORS, THROUGH EDUCATION AND ADVOCACY OF APPROPRIATE BUSINESS AND ETHICAL MODELS OF PRACTICE, ENHANCED COMMUNICATIONS AMONGST MEMBERS AND THEIR CLIENTS, AS WELL AS BETWEEN THE ASSOCIATION AND INDUSTRY STAKEHOLDERS.

Program 3

Expenses: $727,245 Revenue: $165,998

THE ORGANIZATION PROVIDES PUBLICATIONS, SUCH AS THE ANNUAL CONVENTION PROCEEDINGS BOOK AND MONTHLY VETERINARY SCIENTIFIC JOURNALS, TO MEMBERS TO FURTHER THE KNOWLEDGE OF VETERINARY PRACTICE.

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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 $0

Program Service Revenue $7,301,219

Investment Income $173,936

Other Revenue $282,973

TOTAL REVENUE $7,758,128

Expense Breakdown

Grants Paid $22,875

Salaries & Benefits $2,302,952

Fundraising Expenses $345,073

Program Expenses $6,107,904

Other Expenses $5,053,038

TOTAL EXPENSES $7,378,865

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,758,128	$7,205,341	+0.1%
Expenses	$7,378,865	$7,137,910	+0.0%
Net Income	$379,263	$67,431	+4.6%

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

Volunteers

500

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

$392,166

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHERINE GARRETT	PRESIDENT	1.00	Officer Director	$0	$0	$0
TRACY TURNER	PRESIDENT ELECT	1.00	Officer Director	$0	$0	$0
SARAH RUESS	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MITCHELL RODE	TREASURER	1.00	Officer Director	$0	$0	$0
ROBERT P FRANKLIN	IMMEDIATE PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
TEGAN EASTON	DIRECTOR	1.00	Director	$0	$0	$0
ERIC MUELLER	DIRECTOR	1.00	Director	$0	$0	$0
RAUL BRAS	DIRECTOR	1.00	Director	$0	$0	$0
ERIN CONTINO	DIRECTOR	1.00	Director	$0	$0	$0
ELISABETH CHARLES	DIRECTOR	1.00	Director	$0	$0	$0
JACKIE CHRISTAKOS	DIRECTOR	1.00	Director	$0	$0	$0
SARA LANGSAM	DIRECTOR	1.00	Director	$0	$0	$0
DAVID FOLEY	EXECUTIVE DIRECTOR	35.00	Officer	$359,933	$32,233	$392,166
LORI RAWLS	DIRECTOR OF FINANCE AND OPERATIONS	35.00	Highest	$147,237	$24,207	$171,444
SALLY BAKER	DIRECTOR OF MARKETING	35.00	Highest	$136,474	$32,317	$168,791
KIETH KLEINE	DIRECTOR OF INDUSTRY RELATIONS	35.00	Highest	$140,518	$17,335	$157,853
NICK ALTWIES	DIRECTOR OF MEMBERSHIP	35.00	Highest	$110,405	$22,882	$133,287

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	No data	No data	No data	No data
2024	$7,758,128	$7,378,865	$9,777,172	$379,263
2023	$7,205,341	$7,137,910	$9,220,127	$67,431
2023	No data	No data	No data	No data
2022	$7,398,673	$6,877,542	$8,765,231	$521,131
2021	$4,147,111	$4,238,967	$9,067,473	$-91,856
2019	$6,898,569	$6,588,656	$8,338,438	$309,913
2018	$7,059,337	$6,886,347	$7,771,873	$172,990

AMERICAN ASSOCIATION OF EQUINE PRACTITIONERS