Foxfield Racing LLC

Legal name: Garth Road Preservation Inc

Nonprofit profile at a glance

EIN
815011713
IRS 990 coverage
2017–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Charlottesville, VA, US
Phone
(434) 293-9501
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$2,251,263
Expenses
$1,933,122
Assets
$2,142,574
Liabilities
$167,810

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

Leadership & pay

4 people listed

Executive titles in this filing

  • JOHN G MACFARLANE III (PRESIDENT)
  • KELSEY COX (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KELSEY COX (EXECUTIVE DIRECTOR): $75,659 total reported compensation

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

Overview

Mission

Conserving open space, celebrating Virginia’s steeplechase traditions, and supporting local philanthropy.

What it reported doing in 2024

Improve, maintain and conserve the foxfield property and its open space. Per the property master plan new stables were constructed to enhance the safety of race day.three community events were held on the foxfield property. The most significant financially was jackfest, held in october 2024. The organizers of jackfest contributed over $30,000 to the ronald mcdonald house, the pediatric hematology/oncology unit at uva and hope's legacy. In addition, two footraces were held on the property and both made charitable contributions to cancer care in charlottesville

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 93% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 94
  • Accountability: 79
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.1%; rating input score 79
  • Program expense ratio: 89.5%; rating input score 90
  • Fundraising efficiency: $7.31 raised per $1 spent on fundraising; rating input score 27; 27th 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: 99.5%; rating input score 100; 39th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 14.1%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 1.11; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 3.9%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: 46.1% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 38.3% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 50.8% per year; rating input score 100; 98th percentile among comparable filings

Details

  • What they do: 5 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 79.1% of revenue deployed · 89.5% of spending went to programs
  • Governance: 3 of 3 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.7M in reported program spending
  • Leadership: top reported pay $76K · 4 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 27/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.