Hearts & Horses Inc

Nonprofit profile at a glance

EIN
841387873
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Loveland, CO, USA
Phone
9706634200
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Health - General and Rehabilitative N.E.C.

Reported finances

Revenue
$2,601,079
Expenses
$2,669,229
Assets
$5,484,443
Liabilities
$190,704

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

Leadership & pay

10 people listed

Executive titles in this filing

  • MICHAEL MCGINLEY (PRESIDENT)
  • JANET POLLEMA (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JANET POLLEMA (EXECUTIVE DIRECTOR): $109,856 total reported compensation

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

Overview

Mission

Equine assisted therapeutic services to individuals with disabilities and special needs.

What it reported doing in 2024

The therapeutic riding program serves participants by teaching riding skills to participants with physical and cognitive disabilities. Our path international certified therapeutic riding instructors work with the riders to participate in a recognized sport and to develop independent skills that carry over to their everyday lives. Once they are mounted, many of our riders experience a freedom of motion and ability that they do not or cannot enjoy in other aspects of their lives.

Operating model

Revenue model
Donor-supported. 63% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

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

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.6%; rating input score 90
  • Program expense ratio: 87.5%; rating input score 88
  • Fundraising efficiency: $12.12 raised per $1 spent on fundraising; rating input score 44; 44th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.6%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 2.05; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 75; 75th percentile among comparable filings
  • Officer compensation ratio: 4.1%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 14.8% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 8.3% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 10.1% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 89.6% of revenue deployed · 87.5% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $2.3M in reported program spending
  • Leadership: top reported pay $110K · 10 people listed
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Financial Efficiency: Fundraising efficiency scored 44/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 25/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.