New Mexico Horse Breeders Association

Nonprofit profile at a glance

EIN
850204494
IRS 990 coverage
2012–2025
Forms available
Form 990 2025
Location
Albuquerque, NM, USA
Phone
5052620224
Rating confidence
Limited

Official website

Reported finances

Revenue
$532,857
Expenses
$495,386
Assets
$6,587,004
Liabilities
$5,562,852

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • TOM GONCHAROFF (PRESIDENT)
  • NORMA ALVAREZ (1ST VICE PRESIDENT)
  • JAY L TAYLOR (2ND VICE PRESIDENT)

Highest reported compensation

  • MARY BARBER EXECUTIVE DIR (SECRETARY, TREASURER): $112,364 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promote the breeding of racing quarter horses and thoroughbreds in the state of New Mexico. The mission includes: acting as official registrar for New Mexico-bred horses; administering the incentive funds; providing a voice for the breeders in New Mexico; and promoting the welfare of the racing horse in the state.

What it reported doing in 2025

Provided educational and information services to 1,209 members, as well as to the general public, regarding New Mexico horse breeding and horse racing. Monitored compliance with the eva vaccination program in accordance with state law and in conjunction with the state livestock board.

Operating model

Revenue model
Other-operating. 95% of the money available for current operations came from other operating 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: 90
  • Accountability: 90
  • Sustainability: 53
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 13.3; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.84; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 22.7%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 45.9% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 3.4% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $112K · 14 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2012 to 2025
  • 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.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.