Corolla Wild Horse Fund Inc

Nonprofit profile at a glance

EIN
311810713
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Corolla, NC, USA
Phone
2524538002
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Animal Protection and Welfare

Official website

Reported finances

Revenue
$1,249,990
Expenses
$1,186,759
Assets
$2,367,866
Liabilities
$447,353

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • KIMBERLEE HOEY (PRESIDENT)

People named in this filing

  • ROBERT ALBRECHT (BOARD MEMBER)
  • DAVID COLE (BOARD MEMBER)
  • JEAN-PAUL PERON (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To protect, conserve, and responsibly manage the herd of wild colonial spanish mustangs on the currituck outer banks of North Carolina.

What it reported doing in 2024

Wild horse preservation and education: veterinary care for both the wild horses and horses available for adoption; maintenance of fences that border corolla and the north beach; general horse care supplies; educational materials and brochures regarding the wild horses; operation of museum shop.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.5%; rating input score 65
  • Program expense ratio: 67.7%; rating input score 68
  • Fundraising efficiency: $10.58 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.1%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 2; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 9.5% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 17.8% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 64.5% of revenue deployed · 67.7% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $804K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Review — Sustainability: Operating margin scored 50/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.