New Mexico Horsemen's Association

Nonprofit profile at a glance

EIN
850198658
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Albuquerque, NM, USA
Phone
5052667056
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$58,656
Expenses
$165,204
Assets
$1,910,394
Liabilities
$367,078

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

Leadership & pay

8 people listed

Executive titles in this filing

  • DR PAUL JENSON (PRESIDENT)

People named in this filing

  • ADAM ARCHULETA (DIRECTOR)
  • DENISE CHAMBLISS (DIRECTOR)
  • PATRICK SANDERS (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To actively promote the general welfare and health of licensed owners, trainers, and grooms (the horsemen) who race in the state of New Mexico.

What it reported doing in 2024

The association promotes the general welfare of members (New Mexico horsemen) by fostering a higher level of public awareness and acceptance of the horse racing industry in the state of New Mexico. The association also represents members by: (1)being present at every single general meeting of the New Mexico racing commission to protect the interests of members; and (2)serving as the official liaison between the horsemen and track management and state regulatory authorities.

Operating model

Revenue model
Investment-supported. 62% of the money available for current operations came from recurring investment income.
Distribution model
Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 95
  • Accountability: 82
  • Sustainability: 35
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 47.1%; rating input score 47
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th 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; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: -181.6%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 11.56; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -6.5% per year; rating input score 0; 35th percentile among comparable filings
  • Revenue growth: -15.4% per year; rating input score 0; 24th percentile among comparable filings
  • Asset growth: -10.2% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 47.1% of spending went to programs
  • Governance: 8 of 8 board members independent · 4 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $78K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2013 to 2024
  • 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.

  • Moderate — Financial Efficiency: Program expense ratio scored 47/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.