Civic Intelligence

Bowman Second Chance Thoroughbred Adoption

990 • Fiscal year 2024 • EIN 46-4659348

Jan 01, 2024 to Dec 31, 2024 • Filed on Mar 11, 2025

Organization Profilewww.drbowmanthoroughbred.org
15320 Crown DrMinnetonka, MN 55345

(952) 220-6028

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.03x

Higher debt load relative to assets than 72% of similar nonprofits.

2024 filings • NTEE D • <$500k nonprofits • Source year 2024

Liabilities / Revenue

74th percentile

0.02x

Higher debt load relative to revenue than 74% of similar nonprofits.

2024 filings • NTEE D • <$500k nonprofits • Source year 2024

Net Margin

66th percentile

19%

Higher net margin than 66% of similar nonprofits.

2024 filings • NTEE D99 • <$500k nonprofits • Source year 2024

Top Officer Pay

91st percentile

$0

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • NTEE D99 • <$500k nonprofits • Source year 2024

Asset Growth

75th percentile

40%

Faster asset growth than 75% of similar nonprofits.

2024 filings • NTEE D • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

84th percentile

58%

Faster revenue growth than 84% of similar nonprofits.

2024 filings • NTEE D • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$223,044

Up $63,437 (+40%) from 2023

Net Assets

Up

$215,490

Up $58,121 (+37%) from 2023

Liabilities

Up

$7,554

Up $5,316 (+238%) from 2023

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin66th percentile

Revenue

Up

$307,008

Up $112,397 (+58%) from 2023

Expenses

Up

$248,887

Up $144,942 (+139%) from 2023

Net Income

Down

$58,121

Down $32,545 (-36%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth75th percentile

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

$300K$200K$100K$0Assets 2016: $24,876Liabilities 2016: $0Net Assets 2016: $24,8762016Assets 2017: $24,415Liabilities 2017: $0Net Assets 2017: $24,4152017Assets 2018: $46,030Liabilities 2018: $0Net Assets 2018: $46,0302018Assets 2019: $20,915Liabilities 2019: $0Net Assets 2019: $20,9152019Assets 2020: $47,080Liabilities 2020: $0Net Assets 2020: $47,0802020Assets 2021: $50,346Liabilities 2021: $0Net Assets 2021: $50,3462021Assets 2022: $82,678Liabilities 2022: $9,456Net Assets 2022: $73,2222022Assets 2023: $159,607Liabilities 2023: $2,238Net Assets 2023: $157,3692023Assets 2024: $223,044Liabilities 2024: $7,554Net Assets 2024: $215,4902024Assets 2025: $171,888Liabilities 2025: $954Net Assets 2025: $170,9342025

Highlighted filing

2024

Assets$223,044
Liabilities$7,554
Net Assets$215,490
Open 2024 Filing

Operations Trend

Revenue Growth84th percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2016: $79,396Expenses 2016: $58,731Net Income 2016: $20,6652016Revenue 2017: $125,905Expenses 2017: $126,951Net Income 2017: -$1,0462017Revenue 2018: $143,164Expenses 2018: $121,195Net Income 2018: $21,9692018Revenue 2019: $136,492Expenses 2019: $162,415Net Income 2019: -$25,9232019Revenue 2020: $112,446Expenses 2020: $96,072Net Income 2020: $16,3742020Revenue 2021: $126,524Expenses 2021: $123,055Net Income 2021: $3,4692021Revenue 2022: $146,641Expenses 2022: $121,254Net Income 2022: $25,3872022Revenue 2023: $194,611Expenses 2023: $103,945Net Income 2023: $90,6662023Revenue 2024: $307,008Expenses 2024: $248,887Net Income 2024: $58,1212024Revenue 2025: $179,374Expenses 2025: $223,930Net Income 2025: -$44,5562025

Highlighted filing

2024

Revenue$307,008
Expenses$248,887
Net Income$58,121
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 11, 2025
Return Version
2024v5.0
Gross Receipts
$307,008
Mission and Program Overview

Mission

Rescue and rehabilitate former races horses, rehome

Rescue and rehabilitate former races horses and adopt out to good home

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$125,801$111,899▼ $13,902
Cash and Non-Interest-Bearing Accounts$31,386$70,886▲ $39,500
Pledges and Grants Receivable$2,080$40,259▲ $38,179
Accounts Receivable$340--
Total Assets$159,607$223,044▲ $63,437
Liabilities
Accounts Payable and Accrued Expenses$2,238$7,554▲ $5,316
Total Liabilities$2,238$7,554▲ $5,316
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$157,369$215,490▲ $58,121
Total Net Assets Fund Balance$157,369$215,490▲ $58,121
Total Liabilities and Net Assets / Fund Balance$159,607$223,044▲ $63,437

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,280$5,720-
Equipment$13,104$14,822-
Leasehold Improvements$93,515$8,540-
Compensation and Service Providers
Top Officer Pay91st percentile

Board Members and Trustees

NameTitle
Brandon GustafsonPresident
Diana CurtissVice President
Andrea GustafsonDirector
Richard BowmanDirector
Darel GustafsonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$273,861
Program Service Revenue
$33,000
Investment Income
$147
Other Revenue
$0
All Other Contributions
$175,586
Change in Net Assets
$58,121
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$248,887
Total Fundraising Expense$75
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$111,462--$111,462
Depreciation Depletion$13,902--$13,902
Other Expenses$3,908--$3,908
Insurance-$1,662-$1,662
Information Technology$145$1,034-$1,179
All Other Expenses$434--$434
Office Expenses-$40$75$115
Travel-$12-$12
Total Functional Expenses$246,064$2,748$75$248,887
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Andrea GustafsonDirectoraggregate boardNo$214,924
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
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

Part VI Line 2

“Brandon Gustafson and Andrea Gustafson are married”

Part VI Line 11B

“Reviewed at the annual meeting”

Part VI Line 12C

“All members are required to disclose annually.”

Part VI Line 19

“Upon Request”

Filing and Contact Details

Filer

Filer Name
Bowman Second Chance Thoroughbred Adoption
EIN
46-4659348
In Care Of
% Brandon Gustafson
Phone
9522206028
Address
15320 Crown Dr, Minnetonka, MN 55345
Doing Business As
Bowman Second Chance Thoroughbred Adopti

Signing Officer

Name
Brandon Gustafson
Title
President
Phone
9522206028
Signed
2025-03-11

Organization Details

Principal Officer
Brandon T Gustafson
Formed
2013
Legal Domicile
Nd
Voting Board Members
5
Independent Board Members
0
Employees
0
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Brandon Gustafson and Andrea Gustafson are married
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Reviewed at the annual meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All members are required to disclose annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Upon Request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part VI Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part VI Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Part VI Line 19
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02748
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0246064
IRS990/TotalFunctionalExpensesGrp/TotalAmt0248887
IRS990/TotalGrossUBIAmt0147
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IRS990/TotalProgramServiceRevenueAmt033000
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IRS990/USAddress/AddressLine1Txt015320 Crown Dr
IRS990/USAddress/CityNm0Minnetonka
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055345
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IRS990/WebsiteAddressTxt0www.drbowmanthoroughbred.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BRANDON GUSTAFSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum09522206028
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-03-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Bowman Second Chance Thoroughbred Adoption
ReturnHeader/Filer/BusinessNameControlTxt0BOWM
ReturnHeader/Filer/EIN0464659348
ReturnHeader/Filer/InCareOfNm0% Brandon Gustafson
ReturnHeader/Filer/PhoneNum09522206028
ReturnHeader/Filer/USAddress/AddressLine1Txt015320 Crown Dr
ReturnHeader/Filer/USAddress/CityNm0Minnetonka
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055345
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/ReturnTs02025-03-11T09:23:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$223,044
Liabilities
$7,554
Net assets
$215,490
Revenue
$307,008
Expenses
$248,887
Net income
$58,121
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.72$0.01$1.71$1.79$2.24$0.45
2024Detailed filing. Detailed filing data is available for this year.$2.23$0.08$2.15$3.07$2.49$0.58
2023Detailed filing. Detailed filing data is available for this year.$1.60$0.02$1.57$1.95$1.04$0.91
2022Detailed filing. Detailed filing data is available for this year.$0.83$0.09$0.73$1.47$1.21$0.25
2021Detailed filing. Detailed filing data is available for this year.$0.50$0.00$0.50$1.27$1.23$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.47$0.00$0.47$1.12$0.96$0.16
2019Detailed filing. Detailed filing data is available for this year.$0.21$0.00$0.21$1.36$1.62$0.26
2018Detailed filing. Detailed filing data is available for this year.$0.46$0.00$0.46$1.43$1.21$0.22
2017Detailed filing. Detailed filing data is available for this year.$0.24$0.00$0.24$1.26$1.27$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.25$0.00$0.25$0.79$0.59$0.21