Mustang Heritage Foundation

EIN: 880512149 501(c)(3) Animal-Related

Nashville, TN

Total Revenue
$483,027
Total Expenses
$1,284,560
Total Assets
$2,250,916
Net Assets
$2,196,666
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
TX
Phone
5128693225
Tax Period
2023-10-01 to 2024-09-30

Mustang Heritage Foundation, founded in 2001, is a small nonprofit in the Animal-Related sector that reported $483K in total revenue in fiscal year 2023. Revenue fell 91% from the prior year — a significant decline worth monitoring. Expenses of $1.3M exceeded revenue, resulting in a 166% operating deficit.

Mission

The Mustang Heritage Foundation works to ensure the successful private placement of excess wild horses and burros removed from public lands so future generations can enjoy this distinctive feature of our American heritage.

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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 (2023)

Revenue Breakdown

Contributions & Grants $73,637
Program Service Revenue $140,877
Investment Income $269,416
Other Revenue $-903
TOTAL REVENUE $483,027

Expense Breakdown

Grants Paid $54,150
Salaries & Benefits $588,569
Fundraising Expenses $9,450
Program Expenses $515,036
Other Expenses $641,841
TOTAL EXPENSES $1,284,560

Year-over-Year Comparison

2023 2022 Change
Revenue $483,027 $5,225,643 -0.9%
Expenses $1,284,560 $4,812,816 -0.7%
Net Income $-801,533 $412,827 -2.9%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
8
Independent Members
8
Employees
10
Volunteers
11

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
7
$88,747
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Devin O Day Chair 8
Officer Director
$0 $0 $0
Gary Holt Chair 2
Officer Director
$0 $0 $0
Paula Carr Vice Chair 2
Officer Director
$0 $0 $0
Mark Bolender Treasurer 2
Officer Director
$0 $0 $0
Shelly Nice Secretary 2
Officer Director
$0 $0 $0
Tina Morris Trustee 2
Director
$0 $0 $0
Jennifer Kizzar Trustee 2
Director
$0 $0 $0
Fred Woehl Trustee 2
Director
$0 $0 $0
BF Yeates Trustee 2
Director
$0 $0 $0
Cary Scholtes Interim Executive Director 40
Officer
$77,519 $11,228 $88,747
Clinton Shultz CEO 40
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
2024 $483,027 $1,284,560 $2,250,916 $-801,533
2023 $5,175,754 $4,903,373 $3,185,610 $272,381
2023 $5,225,643 $4,812,816 $3,288,791 $412,827
2022 $6,838,640 $5,854,884 $2,832,635 $983,756
2022 $7,060,982 $6,017,434 $2,872,043 $1,043,548
2021 $5,386,262 $5,232,333 $2,167,955 $153,929
2020 $4,095,894 $3,927,684 $1,973,049 $168,210
2019 $3,812,183 $4,028,571 $1,770,780 $-216,388
2018 $4,058,628 $3,444,101 $1,976,738 $614,527
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