Civic Intelligence

Pegasus Farm

990 • Fiscal year 2018 • EIN 34-1472997

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 05, 2019

7490 Edison St NEHartville, OH 44632

(330) 935-2300

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

53rd percentile

0.10x

Higher debt load relative to assets than 53% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

69th percentile

0.27x

Higher debt load relative to revenue than 69% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

44th percentile

1.1%

Higher net margin than 44% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

46th percentile

$53,347

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

37th percentile

-2.0%

Faster asset growth than 37% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

7th percentile

-40%

Faster revenue growth than 7% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$3,102,133

Down $63,114 (-2.0%) from 2017

Net Assets

Down

$2,776,881

Down $126,833 (-4.4%) from 2017

Liabilities

Up

$325,252

Up $63,719 (+24%) from 2017

Revenue

Down

$1,202,466

Down $787,854 (-40%) from 2017

Expenses

Up

$1,189,834

Up $116,664 (+11%) from 2017

Net Income

Down

$12,632

Down $904,518 (-99%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2013: $1,919,455Liabilities 2013: $98,104Net Assets 2013: $1,821,3512013Assets 2014: $1,855,656Liabilities 2014: $88,417Net Assets 2014: $1,767,2392014Assets 2015: $1,875,651Liabilities 2015: $107,637Net Assets 2015: $1,768,0142015Assets 2016: $2,115,937Liabilities 2016: $186,995Net Assets 2016: $1,928,9422016Assets 2017: $3,165,247Liabilities 2017: $261,533Net Assets 2017: $2,903,7142017Assets 2018: $3,102,133Liabilities 2018: $325,252Net Assets 2018: $2,776,8812018Assets 2019: $3,084,507Liabilities 2019: $297,455Net Assets 2019: $2,787,0522019Assets 2020: $3,021,374Liabilities 2020: $268,051Net Assets 2020: $2,753,3232020Assets 2021: $3,046,238Liabilities 2021: $100,953Net Assets 2021: $2,945,2852021Assets 2022: $2,869,395Liabilities 2022: $192,288Net Assets 2022: $2,677,1072022Assets 2023: $3,348,248Liabilities 2023: $407,500Net Assets 2023: $2,940,7482023Assets 2024: $3,252,553Liabilities 2024: $429,046Net Assets 2024: $2,823,5072024

Highlighted filing

2018

Assets$3,102,133
Liabilities$325,252
Net Assets$2,776,881

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2013: $641,200Expenses 2013: $655,427Net Income 2013: -$14,2272013Revenue 2014: $672,605Expenses 2014: $726,717Net Income 2014: -$54,1122014Revenue 2015: $740,677Expenses 2015: $739,902Net Income 2015: $7752015Revenue 2016: $1,049,751Expenses 2016: $902,006Net Income 2016: $147,7452016Revenue 2017: $1,990,320Expenses 2017: $1,073,170Net Income 2017: $917,1502017Revenue 2018: $1,202,466Expenses 2018: $1,189,834Net Income 2018: $12,6322018Revenue 2019: $1,216,578Expenses 2019: $1,291,794Net Income 2019: -$75,2162019Revenue 2020: $1,148,114Expenses 2020: $1,218,376Net Income 2020: -$70,2622020Revenue 2021: $1,440,332Expenses 2021: $1,313,638Net Income 2021: $126,6942021Revenue 2022: $1,331,569Expenses 2022: $1,487,738Net Income 2022: -$156,1692022Revenue 2023: $1,903,257Expenses 2023: $1,627,255Net Income 2023: $276,0022023Revenue 2024: $1,633,665Expenses 2024: $1,733,270Net Income 2024: -$99,6052024

Highlighted filing

2018

Revenue$1,202,466
Expenses$1,189,834
Net Income$12,632
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 5, 2019
Return Version
2018v3.1
Gross Receipts
$1,285,792
Mission and Program Overview

Mission

The mission of pegasus farm is to create a community that holistically supports and empowers people with diverse needs through therapeutic equestrian programs, vocational services, and recreational and social activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,895,591$2,046,624▲ $151,033
Investments in Publicly Traded Securities$765,776$552,044▼ $213,732
Cash and Non-Interest-Bearing Accounts$373,469$254,356▼ $119,113
Accounts Receivable$27,502$31,057▲ $3,555
Inventories for Sale or Use$14,108$15,042▲ $934
Total Assets$3,165,247$3,102,133▼ $63,114
Other Assets Total$88,801$203,010▲ $114,209
Liabilities
Unsecured Notes Loans Payable$260,681$296,311▲ $35,630
Accounts Payable and Accrued Expenses$852$28,941▲ $28,089
Total Liabilities$261,533$325,252▲ $63,719
Net Assets / Fund Balance
Unrestricted Net Assets$2,316,841$2,448,029▲ $131,188
Permanently Rstr Net Assets$316,267$205,083▼ $111,184
Temporarily Rstr Net Assets$270,606$123,769▼ $146,837
Total Net Assets Fund Balance$2,903,714$2,776,881▼ $126,833
Total Liabilities and Net Assets / Fund Balance$3,165,247$3,102,133▼ $63,114

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,315,695$534,674$1,850,369
Other Land Buildings$215,918$382,658$598,576
Land$435,055-$435,055
Equipment$79,956$145,710$225,666
Other Assets Org$203,010--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Carol LichtenwalterExecutive DiFT$53,347$53,347

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$523,591
Program Service Revenue
$482,751
Investment Income
$17,077
Other Revenue
$179,047
All Other Contributions
$523,591
Change in Net Assets
$12,632

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table139$32,467
Total Noncash Contributions139$32,467
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$726,611
Other Expenses$426,640
Grants and Similar Amounts Paid$36,583
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$567,869$54,077-$621,946
Depreciation Depletion$113,239--$113,239
Occupancy$57,827$12,371-$70,198
Current Officers, Directors, Trustees, and Key Employees-$53,347-$53,347
Payroll Taxes$46,699$4,619-$51,318
Grants to Domestic Individuals$36,583--$36,583
Insurance$31,603$1,988-$33,591
Fees for Services Other$18,202$3,122-$21,324
Office Expenses$430$19,397-$19,827
Interest$15,776--$15,776
Travel$11,849--$11,849
All Other Expenses$8,155$200-$8,355
Fees for Service Investment Mgmnt Fees-$6,819-$6,819
Other Expenses$5,248$6,591-$5,248
Advertising-$3,808-$3,808
Total Functional Expenses$1,023,495$166,339$0$1,189,834
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$187,892
Fundraising Direct Expenses$36,483
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$69,417$69,417$17,467$51,950
Annual Fund Dri$59,463$59,463$3,087$56,376
Total Events$167,537$167,537$25,890$141,647
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Form 990 is closely reviewed by the treasurer and management.

Form 990, Page 6, Part VI, Line 12C

Board members annually review the status for potential conflicts of interest and declare in writing any conflicts that may exist. Board members abstain from voting on issues that may represent a conflict of interest for them.

Form 990, Page 6, Part VI, Line 19

Governing documents are available upon written request.

Filing and Contact Details

Filer

Filer Name
Pegasus Farm
EIN
34-1472997
Phone
3309352300
Address
7490 EDISON ST NE, HARTVILLE, OH 44632

Signing Officer

Name
Carol Lichtenwalter
Title
Executive Director
Phone
3309352300
Signed
2019-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carol Lichtenwalter
Formed
1985
Legal Domicile
Oh
Voting Board Members
15
Independent Board Members
15
Employees
81

Preparer

Firm
The Phillips Organization
Address
3924 CLEVELAND AVE NW, CANTON, OH 44709-2359
Preparer
Carolyn Correll CPA
Phone
3304933928
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The mission of pegasus farm is to create a community that holistically supports and empowers people with diverse needs through therapeutic equestrian programs, vocational services, and recreational and social activities.

Form 990, Page 2, Part III, Line 4A

Pegasus farm serves over 500 individuals with disabilities annually. Our program participants range in age from 3 years to 75 years, with the majority being between the ages of 4 and 20. These individuals may have emotional, behavioral, cognitive, developmental or physical disabilities or a combination of these conditions. Pegasus farm is dedicated to the idea that equine assisted activities provide exceptional physical and psychological benefits, challenging participants with disabilities to positively learn and grow in ways they may not experience in day-to-day life. The farm is one of four therapeutic equestrian centers in northeast ohio that are certified as a premier center by the professional association of therapeutic horsemanship, international (path). We are currently serving individuals from eight different counties.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDE
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