Civic Intelligence

Horseshoe Foundation of Floyd County Inc.

990 • Fiscal year 2015 • EIN 35-2086312

Jan 01, 2015 to Dec 31, 2015 • Filed on Mar 18, 2016

Organization ProfileWWW.HORSESHOEFOUNDATION.ORG
33 South State Street Rm Ste 344New Albany, IN 47151-1800

(812) 945-4332

Siviq Scores

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

Liabilities / Assets

47th percentile

0.25x

Higher debt load relative to assets than 47% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

86th percentile

1.90x

Higher debt load relative to revenue than 86% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Net Margin

89th percentile

42%

Higher net margin than 89% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

17th percentile

$128,407

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

21st percentile

-3.7%

Faster asset growth than 21% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

24th percentile

-5.4%

Faster revenue growth than 24% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets47th percentile

Assets

Down

$26,744,735

Down $1,032,377 (-3.7%) from 2014

Net Assets

Up

$20,002,578

Up $259,072 (+1.3%) from 2014

Liabilities

Down

$6,742,157

Down $1,291,449 (-16%) from 2014

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin89th percentile

Revenue

Down

$3,553,263

Down $201,018 (-5.4%) from 2014

Expenses

Down

$2,070,516

Down $50,926 (-2.4%) from 2014

Net Income

Down

$1,482,747

Down $150,092 (-9.2%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$60M$40M$20M$0Assets 2010: $20,894,297Liabilities 2010: $9,641,751Net Assets 2010: $11,252,5462010Assets 2011: $19,967,445Liabilities 2011: $9,024,777Net Assets 2011: $10,942,6682011Assets 2012: $22,647,496Liabilities 2012: $8,411,866Net Assets 2012: $14,235,6302012Assets 2013: $26,368,965Liabilities 2013: $8,989,765Net Assets 2013: $17,379,2002013Assets 2014: $27,777,112Liabilities 2014: $8,033,606Net Assets 2014: $19,743,5062014Assets 2015: $26,744,735Liabilities 2015: $6,742,157Net Assets 2015: $20,002,5782015Assets 2016: $28,562,290Liabilities 2016: $9,824,174Net Assets 2016: $18,738,1162016Assets 2017: $32,664,700Liabilities 2017: $8,720,729Net Assets 2017: $23,943,9712017Assets 2018: $29,927,435Liabilities 2018: $8,132,605Net Assets 2018: $21,794,8302018Assets 2020: $39,133,528Liabilities 2020: $6,230,768Net Assets 2020: $32,902,7602020Assets 2021: $43,854,636Liabilities 2021: $5,423,021Net Assets 2021: $38,431,6152021Assets 2022: $36,139,170Liabilities 2022: $5,039,282Net Assets 2022: $31,099,8882022Assets 2023: $39,939,535Liabilities 2023: $4,455,992Net Assets 2023: $35,483,5432023Assets 2024: $44,201,512Liabilities 2024: $3,647,363Net Assets 2024: $40,554,1492024

Highlighted filing

2015

Assets$26,744,735
Liabilities$6,742,157
Net Assets$20,002,578
Open 2015 Filing

Operations Trend

Revenue Growth24th percentile

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

$10M$5.0M$0-$5.0MExpenses 2010: $2,581,8152010Expenses 2011: $2,556,9002011Expenses 2012: $2,587,1602012Revenue 2013: $4,742,182Expenses 2013: $3,912,545Net Income 2013: $829,6372013Revenue 2014: $3,754,281Expenses 2014: $2,121,442Net Income 2014: $1,632,8392014Revenue 2015: $3,553,263Expenses 2015: $2,070,516Net Income 2015: $1,482,7472015Revenue 2016: $3,880,454Expenses 2016: $6,058,211Net Income 2016: -$2,177,7572016Revenue 2017: $3,614,256Expenses 2017: $2,114,375Net Income 2017: $1,499,8812017Revenue 2018: $3,510,643Expenses 2018: $2,044,273Net Income 2018: $1,466,3702018Revenue 2020: $6,490,239Expenses 2020: $1,975,037Net Income 2020: $4,515,2022020Revenue 2021: $8,593,173Expenses 2021: $2,436,992Net Income 2021: $6,156,1812021Revenue 2022: $3,791,556Expenses 2022: $2,969,766Net Income 2022: $821,7902022Revenue 2023: $5,479,749Expenses 2023: $2,589,465Net Income 2023: $2,890,2842023Revenue 2024: $3,983,343Expenses 2024: $2,347,825Net Income 2024: $1,635,5182024

Highlighted filing

2015

Revenue$3,553,263
Expenses$2,070,516
Net Income$1,482,747
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Mar 18, 2016
Return Version
2015v2.1
Gross Receipts
$4,010,393
Mission and Program Overview

Mission

To provide grants to support non profit organizations, schools, and government agencies in new albany and floyd county, indiana. Also to provide scholarships for post secondary education to deserving students who live within the county and who desire to pursue a higher education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$23,645,148$22,683,747▼ $961,401
Rtn Earn Endowment Incm Other Fnds$19,743,506$20,002,578▲ $259,072
Investments Other Securities$1,443,321$1,440,526▼ $2,795
Savings and Temporary Cash Investments$1,041,699$1,207,432▲ $165,733
Cash and Non-Interest-Bearing Accounts$1,099,656$879,751▼ $219,905
Pledges and Grants Receivable$542,803$531,403▼ $11,400
Land, Buildings, and Equipment, Net$4,485$1,876▼ $2,609
Total Assets$27,777,112$26,744,735▼ $1,032,377
Liabilities
Grants Payable$8,033,606$6,742,157▼ $1,291,449
Total Liabilities$8,033,606$6,742,157▼ $1,291,449
Net Assets / Fund Balance
Total Net Assets Fund Balance$19,743,506$20,002,578▲ $259,072
Total Liabilities and Net Assets / Fund Balance$27,777,112$26,744,735▼ $1,032,377

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,876$32,450$34,326
Other Securities$25,000--
Compensation and Service Providers
Top Officer Pay17th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jerry FinnExecutive DiFT$112,523$15,884$128,407

Board Members and Trustees

NameTitle
Mark SeabrookPresident
John GonderBoard Member
Kevin ZurschmiedeBoard Member
Brad SeigalInvest Commt
Judy HessSecretary
John SmithTreasurer
Jeff GahanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$2,648,844
Program Service Revenue
$0
Investment Income
$904,419
Other Revenue
$0
All Other Contributions
$2,648,844
Change in Net Assets
$1,482,747

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,553,263
Revenue Not Reported on Form 990
$-1,223,675
Total Revenue per Audited Statements
$2,329,588
Total Revenue per Form 990
$3,553,263
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,654,176
Other Expenses$213,345
Salaries, Compensation, and Employee Benefits$202,995
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,171,111--$1,171,111
Grants to Domestic Individuals$483,065--$483,065
Other Salaries and Wages$90,270$90,271-$180,541
Fees for Service Investment Mgmnt Fees$49,321$49,321-$98,642
Other Expenses$56,995--$56,995
Office Expenses$11,880$11,880-$23,760
Payroll Taxes$6,906$6,906-$13,812
Fees for Services Other$6,567$6,567-$13,134
Advertising$6,064$6,065-$12,129
Pension Plan Contributions$2,676$2,676-$5,352
Insurance$1,780$1,781-$3,561
Other Employee Benefits$1,645$1,645-$3,290
Depreciation Depletion$1,644$1,644-$3,288
Travel$918$918-$1,836
Total Functional Expenses$1,890,842$179,674$0$2,070,516

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,070,516
Total Expenses per Audited Statements$2,070,516
Total Expenses per Form 990$2,070,516
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
See Attached Schedule---$1,135,339
Donations and Sponsorships---$35,772
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
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

“The 990 is reviewed and approved by the executive director and board of directors before being filed”

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

“The organization has a detailed conflicts of interest policy which requires reporting of potential conflicts by the board and committee members which is monitored by the board.”

Form 990, Page 6, Part VI, Line 15A

“Any change in the executive director's compensation is subject to review and board approval”

Form 990, Page 6, Part VI, Line 15B

“Any change in compensation for the office administration manager is subject to review and board approval”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Horseshoe Foundation
EIN
35-2086312
Phone
8129454332
Address
33 SOUTH STATE STREET RM STE 344, NEW ALBANY, IN 47151-1800

Signing Officer

Name
Jerry Finn
Title
Executive Director
Phone
8129454332
Signed
2016-03-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerry Finn
Formed
2000
Legal Domicile
In
Voting Board Members
8
Independent Board Members
7
Employees
2
Volunteers
40

Preparer

Firm
Rodefer Moss & Co Pllc
Address
301 E ELM STREET, NEW ALBANY, IN 47150
Preparer
Richard N Robinson CPA
Phone
8129455236
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To provide grants to support non profit organizations, schools, and government agencies in new albany and floyd county, indiana. Also to provide scholarships for post secondary education to deserving students who live within the county and who desire to pursue a higher education.”

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0826088
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt1826088
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0CITY OF NEW ALBANY INDIANA
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1FLOYD COUNTY INDIANA
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt0CITY OF NEW ALBANY INDIANA
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt1FLOYD COUNTY INDIANA
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt125000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0GOVERNMENT SECURITIES
IRS990ScheduleD/OtherSecuritiesGrp/Desc1KIVA ZIP PROGRAM
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IRS990ScheduleD/RevenueSubtotalAmt03553263
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IRS990ScheduleD/TotalBookValueSecuritiesAmt01440526
IRS990ScheduleD/TotalExpensesPerForm990Amt02070516
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IRS990ScheduleI/RecipientTable/CashGrantAmt01135339
IRS990ScheduleI/RecipientTable/CashGrantAmt135772
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0SEE ATTACHED SCHEDULE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1DONATIONS AND SPONSORSHIPS
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE GRANTS TO SUPPORT NON PROFIT ORGANIZATIONS, SCHOOLS, AND GOVERNMENT AGENCIES IN NEW ALBANY AND FLOYD COUNTY, INDIANA. ALSO TO PROVIDE SCHOLARSHIPS FOR POST SECONDARY EDUCATION TO DESERVING STUDENTS WHO LIVE WITHIN THE COUNTY AND WHO DESIRE TO PURSUE A HIGHER EDUCATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR AND BOARD OF DIRECTORS BEFORE BEING FILED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS A DETAILED CONFLICTS OF INTEREST POLICY WHICH REQUIRES REPORTING OF POTENTIAL CONFLICTS BY THE BOARD AND COMMITTEE MEMBERS WHICH IS MONITORED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY CHANGE IN THE EXECUTIVE DIRECTOR'S COMPENSATION IS SUBJECT TO REVIEW AND BOARD APPROVAL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANY CHANGE IN COMPENSATION FOR THE OFFICE ADMINISTRATION MANAGER IS SUBJECT TO REVIEW AND BOARD APPROVAL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01890842
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03553263
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IRS990/TravelGrp/ProgramServicesAmt0918
IRS990/TravelGrp/TotalAmt01836
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.HORSESHOEFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JERRY FINN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08129454332
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-03-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HORSESHOE FOUNDATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0OF FLOYD COUNTY INC
ReturnHeader/Filer/BusinessNameControlTxt0HORS
ReturnHeader/Filer/EIN0352086312
ReturnHeader/Filer/PhoneNum08129454332
ReturnHeader/Filer/USAddress/AddressLine1Txt033 SOUTH STATE STREET RM STE 344
ReturnHeader/Filer/USAddress/CityNm0NEW ALBANY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd0471511800
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0351663728
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RODEFER MOSS & CO PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0301 E ELM STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW ALBANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd047150

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$26,744,735
Liabilities
$6,742,157
Net assets
$20,002,578
Revenue
$3,553,263
Expenses
$2,070,516
Net income
$1,482,747
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$44.2$3.65$40.6$3.98$2.35$1.64
2023Detailed filing. Detailed filing data is available for this year.$39.9$4.46$35.5$5.48$2.59$2.89
2022Detailed filing. Detailed filing data is available for this year.$36.1$5.04$31.1$3.79$2.97$0.82
2021Detailed filing. Detailed filing data is available for this year.$43.9$5.42$38.4$8.59$2.44$6.16
2020Detailed filing. Detailed filing data is available for this year.$39.1$6.23$32.9$6.49$1.98$4.52
2018Detailed filing. Detailed filing data is available for this year.$29.9$8.13$21.8$3.51$2.04$1.47
2017Detailed filing. Detailed filing data is available for this year.$32.7$8.72$23.9$3.61$2.11$1.50
2016Detailed filing. Detailed filing data is available for this year.$28.6$9.82$18.7$3.88$6.06$2.18
2015Detailed filing. Detailed filing data is available for this year.$26.7$6.74$20.0$3.55$2.07$1.48
2014Detailed filing. Detailed filing data is available for this year.$27.8$8.03$19.7$3.75$2.12$1.63
2013Detailed filing. Detailed filing data is available for this year.$26.4$8.99$17.4$4.74$3.91$0.83
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.6$8.41$14.2$2.59
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.0$9.02$10.9$2.56
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.9$9.64$11.3$2.58