Civic Intelligence

Horsepower Foundation Inc

990 • Fiscal year 2017 • EIN 46-3131465

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

Organization ProfileN/A
8001 Leabourne RoadColfax, NC 27235

(336) 931-1424

Siviq Scores

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

Liabilities / Assets

40th percentile

0.10x

Higher debt load relative to assets than 40% of similar nonprofits.

2017 filings • NTEE P • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

78th percentile

0.37x

Higher debt load relative to revenue than 78% of similar nonprofits.

2017 filings • NTEE P • $1M-$5M nonprofits • Source year 2017

Net Margin

99th percentile

92%

Higher net margin than 99% of similar nonprofits.

2017 filings • NTEE P • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

31st percentile

$48,200

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 13.7% of source-year revenue.

2017 filings • NTEE P • $1M-$5M nonprofits • Source year 2017

Asset Growth

89th percentile

55%

Faster asset growth than 89% of similar nonprofits.

2017 filings • NTEE P • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

96th percentile

195%

Faster revenue growth than 96% of similar nonprofits.

2017 filings • NTEE P • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$1,312,449

Up $466,214 (+55%) from 2016

Net Assets

Up

$1,181,211

Up $334,976 (+40%) from 2016

Liabilities

Up

$131,238

Up $131,238 from 2016

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin99th percentile

Revenue

Up

$351,367

Up $232,306 (+195%) from 2016

Expenses

Up

$29,601

Up $23,661 (+398%) from 2016

Net Income

Up

$321,766

Up $208,645 (+184%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth89th percentile

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

$3.0M$2.0M$1.0M$0Assets 2013: $520,461Liabilities 2013: $432,730Net Assets 2013: $87,7312013Assets 2014: $602,175Liabilities 2014: $196,121Net Assets 2014: $406,0542014Assets 2015: $893,017Liabilities 2015: $163,949Net Assets 2015: $729,0682015Assets 2016: $846,235Liabilities 2016: $0Net Assets 2016: $846,2352016Assets 2017: $1,312,449Liabilities 2017: $131,238Net Assets 2017: $1,181,2112017Assets 2018: $1,545,180Liabilities 2018: $129,697Net Assets 2018: $1,415,4832018Assets 2019: $1,588,425Liabilities 2019: $0Net Assets 2019: $1,588,4252019Assets 2020: $1,628,383Liabilities 2020: $0Net Assets 2020: $1,628,3832020Assets 2021: $1,659,596Liabilities 2021: $0Net Assets 2021: $1,659,5962021Assets 2022: $1,798,051Liabilities 2022: $500Net Assets 2022: $1,797,5512022Assets 2023: $1,933,688Liabilities 2023: $0Net Assets 2023: $1,933,6882023Assets 2024: $2,166,518Liabilities 2024: $700Net Assets 2024: $2,165,8182024

Highlighted filing

2017

Assets$1,312,449
Liabilities$131,238
Net Assets$1,181,211
Open 2017 Filing

Operations Trend

Revenue Growth96th percentile

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

$400K$300K$200K$100K$0Revenue 2013: $87,731Expenses 2013: $0Net Income 2013: $87,7312013Revenue 2014: $318,323Expenses 2014: $0Net Income 2014: $318,3232014Revenue 2015: $251,182Expenses 2015: $6,702Net Income 2015: $244,4802015Revenue 2016: $119,061Expenses 2016: $5,940Net Income 2016: $113,1212016Revenue 2017: $351,367Expenses 2017: $29,601Net Income 2017: $321,7662017Revenue 2018: $275,130Expenses 2018: $40,858Net Income 2018: $234,2722018Revenue 2019: $274,194Expenses 2019: $101,252Net Income 2019: $172,9422019Revenue 2020: $98,104Expenses 2020: $58,146Net Income 2020: $39,9582020Revenue 2021: $85,095Expenses 2021: $53,882Net Income 2021: $31,2132021Revenue 2022: $193,395Expenses 2022: $55,440Net Income 2022: $137,9552022Revenue 2023: $200,156Expenses 2023: $64,019Net Income 2023: $136,1372023Revenue 2024: $339,145Expenses 2024: $81,489Net Income 2024: $257,6562024

Highlighted filing

2017

Revenue$351,367
Expenses$29,601
Net Income$321,766
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.2
Gross Receipts
$351,367
Mission and Program Overview

Mission

To raise funds and assets for the benefit of Horsepower, Inc, DBA Horsepower Therapeudic Learning Center, a North Carolina nonprofit corporation whose mission is to promote and enhance the welfare of individuals with disabilities by providing a program of therapeudic, educational and recreational value.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$661,614$977,138▲ $315,524
Cash and Non-Interest-Bearing Accounts$184,539$210,140▲ $25,601
Pledges and Grants Receivable-$125,000-
Accounts Receivable$82$0▼ $82
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$846,235$1,312,449▲ $466,214
Other Assets Total-$171-
Liabilities
Mortgage Notes Payable Secured by Investment Property-$131,238-
Total Liabilities$0$131,238▲ $131,238
Net Assets / Fund Balance
Unrestricted Net Assets$846,235$916,953▲ $70,718
Temporarily Rstr Net Assets-$264,258-
Total Net Assets Fund Balance$846,235$1,181,211▲ $334,976
Total Liabilities and Net Assets / Fund Balance$846,235$1,312,449▲ $466,214

Asset Categories

AssetBook ValueDepreciationBasis
Land$463,848-$463,848
Other Land Buildings$274,702-$274,702
Buildings$229,026$2,048$231,074
Equipment$9,562$107$9,669
Compensation and Service Providers
Top Officer Pay31st percentile

Employees

NameTitleOtherTotal
Jan CliffordExecutive Director$48,200$48,200

Board Members and Trustees

NameTitle
Dan RiceChairman
Bernard CarreyDirector
Jim BurgioDirector
Pat RosserDirector
Tim CliffordDirector
Caroline NorthSecr/Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$351,367
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$351,367
Change in Net Assets
$321,766
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$18,601
Salaries, Compensation, and Employee Benefits$11,000
Total Fundraising Expense$8,085
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$3,000$8,000$11,000
Interest$4,846--$4,846
Depreciation Depletion$2,109--$2,109
Insurance$782$37$19$838
Occupancy$624$117$39$780
Fees for Services Other-$500-$500
Office Expenses$169$32$11$212
Other Expenses$6$4$16$10
Total Functional Expenses$17,826$3,690$8,085$29,601
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Jan Clifford, the Executive Director is the spouse of Tim Clifford, Director.”

Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings

“No committees have authority to act on behalf of the Board of Directors.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is reviewed by the board of directors of the organization.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Board members are asked annually to disclose any interest that could give rise to conflicts.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Documents required to be open to the public are available upon request.”

Filing and Contact Details

Filer

Filer Name
Horsepower Foundation Inc
EIN
46-3131465
Phone
3369311424
Address
8001 Leabourne Road, Colfax, NC 27235

Signing Officer

Name
Jan Clifford
Title
Executive Director
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jan Clifford
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
5
Employees
0
Volunteers
15

Preparer

Firm
Apple Koceja & Associates PA
Address
445 Dolley Madison RdSte202, Greensboro, NC 27410
Preparer
Jonathan L Apple CPA
Phone
3368544277
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IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0When completed, the buildings and grounds of Horsepower Foundation, Inc that are currently under development will serve as the program facilities and administration offices of Horsepower, Inc DBA Horsepower Therapeutic Learning Center.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part I: Additional Information
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0561907424
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd07
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Horsepower Inc
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0229026
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02048
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0231074
IRS990ScheduleD/EquipmentGrp/BookValueAmt09562
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0107
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt09669
IRS990ScheduleD/LandGrp/BookValueAmt0463848
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0463848
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0274702
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0274702
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0977138
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Jan Clifford, the Executive Director is the spouse of Tim Clifford, Director.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No committees have authority to act on behalf of the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990 is reviewed by the board of directors of the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Board members are asked annually to disclose any interest that could give rise to conflicts.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Documents required to be open to the public are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Horsepower Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0561907424
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501 (c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Equestrian
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt08001 Leabourne Rd
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Colfax
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd027235
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0true
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt011000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Horsepower Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0m
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0264258
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0846235
IRS990/TotalAssetsEOYAmt01312449
IRS990/TotalAssetsGrp/BOYAmt0846235
IRS990/TotalAssetsGrp/EOYAmt01312449
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0351367
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt08085
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03690
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt017826
IRS990/TotalFunctionalExpensesGrp/TotalAmt029601
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0131238
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0131238
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0846235
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01181211
IRS990/TotalProgramServiceExpensesAmt017826
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0351367

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,312,449
Liabilities
$131,238
Net assets
$1,181,211
Revenue
$351,367
Expenses
$29,601
Net income
$321,766
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.17$0.00$2.17$0.34$0.08$0.26
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.93$0.00$1.93$0.20$0.06$0.14
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.80$0.00$1.80$0.19$0.06$0.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.66$0.00$1.66$0.09$0.05$0.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.63$0.00$1.63$0.10$0.06$0.04
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.59$0.00$1.59$0.27$0.10$0.17
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.55$0.13$1.42$0.28$0.04$0.23
2017Detailed filing. Detailed filing data is available for this year.$1.31$0.13$1.18$0.35$0.03$0.32
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.85$0.00$0.85$0.12$0.01$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.89$0.16$0.73$0.25$0.01$0.24
2014Summary only. Only limited summary data is available for this year.$0.60$0.20$0.41$0.32$0.00$0.32
2013Summary only. Only limited summary data is available for this year.$0.52$0.43$0.09$0.09$0.00$0.09
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)3 • $1M-$5M nonprofits