Florida Quarter Horse Racing Association Inc

Nonprofit profile at a glance

EIN
432098089
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
Tallahassee, FL, USA
Phone
8509079167
Rating confidence
Limited
Sector
Business and Industry

Official website

Reported finances

Revenue
$446,934
Expenses
$339,466
Assets
$2,568,642
Liabilities
$2,035,407

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • STEPHEN D FISCH (EXECUTIVE DIRECTOR)
  • RON SMITH (PRESIDENT)
  • GARY WALKER (VICE PRESIDENT / DIRECTOR)

People named in this filing

  • STEPHEN D FISCH (EXECUTIVE DIRECTOR)
  • DAVID MUZIO (TREASURER)
  • GERALD KEESLING (DIRECTOR)

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 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization's primary exempt purpose is to promote quarter horse racing in Florida

What it reported doing in 2015

The fqhra promotes the breeding and owning of quarter horses in Florida and the education of members of legislation needed to enhance quarter horse racing so that it has the same legal benefits as other breeds racing in Florida.the fqhra represents the owners, breeders, and trainers at race tracks to ensure that the advertised purses are paid to the appropriate parties and to ensure the safety of all involved in the races.fqhra monitors race conditions at quarter horse meets, adherence to track racing rules, and Florida statutes related to quarter horse racing.

Operating model

Revenue model
Earned-program. 81% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 83
  • Sustainability: 74
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 24th 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 24%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 7.57; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.79; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 13.5% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 10 of 11 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 6 filing years from 2010 to 2015
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.