Civic Intelligence

Horseshoe Foundation of Floyd County Inc.

990 • Fiscal year 2016 • EIN 35-2086312

Jan 01, 2016 to Dec 31, 2016 • Filed on Apr 10, 2017

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

57th percentile

0.34x

Higher debt load relative to assets than 57% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

88th percentile

2.53x

Higher debt load relative to revenue than 88% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

5th percentile

-56%

Higher net margin than 5% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

16th percentile

$128,944

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

67th percentile

6.8%

Faster asset growth than 67% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

69th percentile

9.2%

Faster revenue growth than 69% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$28,562,290

Up $1,817,555 (+6.8%) from 2015

Net Assets

Down

$18,738,116

Down $1,264,462 (-6.3%) from 2015

Liabilities

Up

$9,824,174

Up $3,082,017 (+46%) from 2015

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin5th percentile

Revenue

Up

$3,880,454

Up $327,191 (+9.2%) from 2015

Expenses

Up

$6,058,211

Up $3,987,695 (+193%) from 2015

Net Income

Down

-$2,177,757

Down $3,660,504 (-247%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth67th 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

2016

Assets$28,562,290
Liabilities$9,824,174
Net Assets$18,738,116
Open 2016 Filing

Operations Trend

Revenue Growth69th 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

2016

Revenue$3,880,454
Expenses$6,058,211
Net Income-$2,177,757
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Apr 10, 2017
Return Version
2016v3.0
Gross Receipts
$7,114,132
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$22,683,747$24,682,640▲ $1,998,893
Rtn Earn Endowment Incm Other Fnds$20,002,578$18,738,116▼ $1,264,462
Investments Other Securities$1,440,526$1,444,253▲ $3,727
Savings and Temporary Cash Investments$1,207,432$1,118,525▼ $88,907
Cash and Non-Interest-Bearing Accounts$879,751$820,811▼ $58,940
Pledges and Grants Receivable$531,403$492,933▼ $38,470
Land, Buildings, and Equipment, Net$1,876$3,128▲ $1,252
Total Assets$26,744,735$28,562,290▲ $1,817,555
Liabilities
Grants Payable$6,742,157$9,824,174▲ $3,082,017
Total Liabilities$6,742,157$9,824,174▲ $3,082,017
Net Assets / Fund Balance
Total Net Assets Fund Balance$20,002,578$18,738,116▼ $1,264,462
Total Liabilities and Net Assets / Fund Balance$26,744,735$28,562,290▲ $1,817,555

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,128$33,397$36,525
Other Securities$25,000--
Compensation and Service Providers
Top Officer Pay16th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jerry FinnExecutive DiFT$115,748$13,196$128,944

Board Members and Trustees

NameTitle
Mark SeabrookPresident
Al KnableBoard Member
Bob CaesarBoard Member
Renee NadeauBoard Member
Judy HessSecretary
Brad SeigalTreasurer/in
Jeff GahanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$2,517,313
Program Service Revenue
$0
Investment Income
$1,362,191
Other Revenue
$950
All Other Contributions
$2,517,313
Change in Net Assets
$-2,177,757

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,880,454
Revenue Not Reported on Form 990
$913,295
Total Revenue per Audited Statements
$4,793,749
Total Revenue per Form 990
$3,880,454
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$5,692,509
Salaries, Compensation, and Employee Benefits$210,444
Other Expenses$155,258
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$5,220,394--$5,220,394
Grants to Domestic Individuals$472,115--$472,115
Other Salaries and Wages$88,939$88,940-$177,879
Fees for Service Investment Mgmnt Fees$49,784$49,784-$99,568
Office Expenses$8,426$8,426-$16,852
Advertising$7,691$7,692-$15,383
Payroll Taxes$7,006$7,007-$14,013
Other Employee Benefits$6,530$6,530-$13,060
Other Expenses$11,229--$11,229
Fees for Services Other$2,966$2,967-$5,933
Pension Plan Contributions$2,746$2,746-$5,492
Insurance$1,735$1,736-$3,471
Travel$938$939-$1,877
Depreciation Depletion$472$473-$945
Total Functional Expenses$5,880,971$177,240$0$6,058,211

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,058,211
Total Expenses per Audited Statements$6,058,211
Total Expenses per Form 990$6,058,211
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
See Attached Schedule---$5,184,044
Donations and Sponsorships---$36,350
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
2017-04-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerry Finn
Formed
2000
Legal Domicile
In
Voting Board Members
8
Independent Board Members
6
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.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The foundation is exempt from federal, state and local income taxes under section 501(c)(3) of the internal revenue code as a nonprofit organization other than a private foundation. The foundation evaluates its uncertain tax positions in accordance with applicable standards. It has evaluated its tax positions, and believes that it has none that are uncertain.”

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt12846255
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0CITY OF NEW ALBANY INDIANA
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1FLOYD COUNTY INDIANA
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt0CITY OF NEW ALBANY INDIANA
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt033397
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt01419253
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt125000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0GOVERNMENT SECURITIES
IRS990ScheduleD/OtherSecuritiesGrp/Desc1KIVA ZIP PROGRAM
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IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/RevenueNotReportedAmt0913295
IRS990ScheduleD/RevenueSubtotalAmt03880454
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM FEDERAL, STATE AND LOCAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS A NONPROFIT ORGANIZATION OTHER THAN A PRIVATE FOUNDATION. THE FOUNDATION EVALUATES ITS UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH APPLICABLE STANDARDS. IT HAS EVALUATED ITS TAX POSITIONS, AND BELIEVES THAT IT HAS NONE THAT ARE UNCERTAIN.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt06058211
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06058211
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0472115
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/RecipientTable/CashGrantAmt05184044
IRS990ScheduleI/RecipientTable/CashGrantAmt136350
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0SEE ATTACHED SCHEDULE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1DONATIONS AND SPONSORSHIPS
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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/TotalFunctionalExpensesGrp/ProgramServicesAmt05880971
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt033 SOUTH STATE STREET RM STE 344
IRS990/USAddress/CityNm0NEW ALBANY
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IRS990/WebsiteAddressTxt0WWW.HORSESHOEFOUNDATION.ORG
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ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JERRY FINN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08129454332
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-04-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HORSESHOE FOUNDATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0OF FLOYD COUNTY INC
ReturnHeader/Filer/BusinessNameControlTxt0HORS
ReturnHeader/Filer/EIN0352086312
ReturnHeader/Filer/PhoneNum08129454332

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$28,562,290
Liabilities
$9,824,174
Net assets
$18,738,116
Revenue
$3,880,454
Expenses
$6,058,211
Net income
-$2,177,757
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