Civic Intelligence

Horsepower Inc.

990 • Fiscal year 2016 • EIN 56-1907424

Jan 01, 2016 to Dec 31, 2016 • Filed on Jul 26, 2017

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

51st percentile

0.00x

Higher debt load relative to assets than 51% of similar nonprofits.

2016 filings • NTEE P80 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

50th percentile

0.00x

Higher debt load relative to revenue than 50% of similar nonprofits.

2016 filings • NTEE P80 • <$500k nonprofits • Source year 2016

Net Margin

63rd percentile

9.3%

Higher net margin than 63% of similar nonprofits.

2016 filings • NTEE P80 • <$500k nonprofits • Source year 2016

Top Officer Pay

91st percentile

$54,602

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 16.1% of source-year revenue.

2016 filings • NTEE P80 • <$500k nonprofits • Source year 2016

Asset Growth

69th percentile

18%

Faster asset growth than 69% of similar nonprofits.

2016 filings • NTEE P80 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

31st percentile

-19%

Faster revenue growth than 31% of similar nonprofits.

2016 filings • NTEE P80 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Up

$206,267

Up $31,419 (+18%) from 2015

Net Assets

Up

$205,292

Up $31,453 (+18%) from 2015

Liabilities

Down

$975

Down $34 (-3.4%) from 2015

Revenue

Down

$338,317

Down $77,238 (-19%) from 2015

Expenses

Down

$306,864

Down $144,620 (-32%) from 2015

Net Income

Up

$31,453

Up $67,382 (+188%) from 2015

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2015: $174,848Liabilities 2015: $1,009Net Assets 2015: $173,8392015Assets 2016: $206,267Liabilities 2016: $975Net Assets 2016: $205,2922016Assets 2017: $208,944Liabilities 2017: $6,830Net Assets 2017: $202,1142017Assets 2018: $214,591Liabilities 2018: $8,262Net Assets 2018: $206,3292018Assets 2019: $162,117Liabilities 2019: $0Net Assets 2019: $162,1172019Assets 2020: $220,850Liabilities 2020: $1,479Net Assets 2020: $219,3712020Assets 2021: $359,393Liabilities 2021: $1,736Net Assets 2021: $357,6572021Assets 2022: $622,404Liabilities 2022: $259,182Net Assets 2022: $363,2222022Assets 2023: $626,953Liabilities 2023: $230,116Net Assets 2023: $396,8372023Assets 2024: $661,626Liabilities 2024: $220,304Net Assets 2024: $441,3222024

Highlighted filing

2016

Assets$206,267
Liabilities$975
Net Assets$205,292

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2015: $415,555Expenses 2015: $451,484Net Income 2015: -$35,9292015Revenue 2016: $338,317Expenses 2016: $306,864Net Income 2016: $31,4532016Revenue 2017: $304,102Expenses 2017: $307,279Net Income 2017: -$3,1772017Revenue 2018: $343,387Expenses 2018: $339,172Net Income 2018: $4,2152018Revenue 2019: $369,222Expenses 2019: $337,130Net Income 2019: $32,0922019Revenue 2020: $365,268Expenses 2020: $308,014Net Income 2020: $57,2542020Revenue 2021: $500,022Expenses 2021: $361,736Net Income 2021: $138,2862021Revenue 2022: $465,473Expenses 2022: $459,908Net Income 2022: $5,5652022Revenue 2023: $641,020Expenses 2023: $607,405Net Income 2023: $33,6152023Revenue 2024: $777,338Expenses 2024: $732,853Net Income 2024: $44,4852024

Highlighted filing

2016

Revenue$338,317
Expenses$306,864
Net Income$31,453
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jul 26, 2017
Return Version
2016v3.0
Gross Receipts
$344,298
Mission and Program Overview

Mission

To promote and enhance the welfare of individuals with disabilities by providing a program of therapeutic, educational and recreational value, and further, to empower individuals who are mentally, physically and/or emotionally challenged through the use of horses, while providing therapeutic benefits in a safe and controlled atmosphere.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$108,534$118,539▲ $10,005
Cash and Non-Interest-Bearing Accounts$24,501$38,956▲ $14,455
Savings and Temporary Cash Investments$31,947$21,959▼ $9,988
Prepaid Expenses and Deferred Charges$9,599$14,497▲ $4,898
Pledges and Grants Receivable-$12,000-
Accounts Receivable$267$316▲ $49
Total Assets$174,848$206,267▲ $31,419
Liabilities
Accounts Payable and Accrued Expenses$1,009$975▼ $34
Total Liabilities$1,009$975▼ $34
Net Assets / Fund Balance
Unrestricted Net Assets$173,839$205,292▲ $31,453
Total Net Assets Fund Balance$173,839$205,292▲ $31,453
Total Liabilities and Net Assets / Fund Balance$174,848$206,267▲ $31,419

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$87,425$101,102$188,527
Equipment$10,169$66,362$76,531
Other Land Buildings$20,946$13,857$34,803
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jan CliffordExecutive DiFT$47,750$6,852$54,602

Board Members and Trustees

NameTitle
Jay DoneckerChair
April ReedDirector
Chuck HillDirector
Dan RiceDirector
Deborah BlackwellDirector
Isadore MorrowDirector
Maureen CorcoranDirector
Rob WellsDirector
Chris PuckettAssistant Se
Melissa LyonsSecretary
Esther PayneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$196,387
Program Service Revenue
$107,254
Investment Income
$542
Other Revenue
$34,134
All Other Contributions
$186,006
Change in Net Assets
$31,453
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$169,416
Other Expenses$127,448
Total Fundraising Expense$19,192
Grants and Similar Amounts Paid$10,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$82,747$7,881$7,880$98,508
Current Officers, Directors, Trustees, and Key Employees$45,866$4,368$4,368$54,602
All Other Expenses$17,999$1,806$342$20,147
Insurance$14,962$2,805$935$18,702
Payroll Taxes$11,414$1,087$1,087$13,588
Depreciation Depletion$11,427$300$300$12,027
Grants to Domestic Orgs$10,000--$10,000
Fees for Services Other$7,979--$7,979
Other Expenses$7,545--$7,545
Travel$5,618$1,296$288$7,202
Office Expenses$4,192$615$783$5,590
Fees for Services Accounting-$4,985-$4,985
Advertising$1,894-$2,841$4,735
Occupancy$2,922$674$150$3,746
Other Employee Benefits$2,283$217$218$2,718
Total Functional Expenses$261,638$26,034$19,192$306,864
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Horsepower Foundation IncColfax, NC501c3Construction$10,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$38,535
Fundraising Direct Expenses$5,011
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$15,268$15,268$2,836$12,432
Ride-a-thon$10,381---
Total Events$48,916$38,535$5,011$33,524
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
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 8B

No committees have authority to act on behalf of the board of directors

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

Form 990 is reviewed by the executive director and the board of directors

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

The executive director's salary is reviewed by the board of directors.

Form 990, Page 6, Part VI, Line 19

Documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Horsepower Inc
EIN
56-1907424
Phone
3369311424
Address
8001 LEABOURNE ROAD, COLFAX, NC 27235

Signing Officer

Name
Jan Clifford
Title
Executive Director
Phone
3369311424
Signed
2017-07-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jan Clifford
Formed
1995
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
11
Employees
18
Volunteers
280

Preparer

Firm
Robertson Neal & Company Llp
Address
PO BOX 2367, GREENSBORO, NC 27402-2367
Preparer
Linda L Bridges CPA
Phone
3363799932
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To promote and enhance the welfare of individuals with disabilities by providing a program of therapeutic, educational and recreational value through the use of horses, while providing therapeutic benefits in a safe and controlled atmoshpere.

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