Pure Thoughts Inc

Nonprofit profile at a glance

EIN
061664566
IRS 990 coverage
2012–2018
Forms available
Form 990 2018, Form 990-EZ 2011
Location
Loxahatchee, FL, USA
Phone
5612540415
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Equestrian

Official website

Reported finances

Revenue
$351,072
Expenses
$340,038
Assets
$16,464
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

3 people listed

Highest reported compensation

  • Bradley Gaver (Director/ Officer): $5,376 total reported compensation
  • Jennifer Swanson (Director/ Officer): $5,376 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Rescue, Rehabilitate, Retrain and hopefully re-home horses and animals that are in need. Education of animal and horse welfare and to promote and secure the safety and well being of horses and animals. Equine Therapy, Training and Education. To be a sanctuary for those horses and animals that cannot be re-homed

What it reported doing in 2018

Equine Therapy- This Program helps the horses that for one reason or another cannot be re-homed. The horses are trained within their limitations both physically and mentally to help people who may be suffering from emotional problems and working with a horses or animal can help them with some of their issues. The Therapists and Professionals involved are also trained to work with this horse/animal to best serve the purpose of the program and the individuals.

Operating model

Revenue model
Donor-supported. 68% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% 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. The required major-donor schedule is missing or incomplete and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 75
  • Accountability: 90
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.9%; rating input score 97
  • Program expense ratio: 100%; rating input score 100
  • 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: No; rating input score 0
  • 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: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.1%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 0.05; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 3.2%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 10% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 43.7% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 96.9% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $340K in reported program spending
  • Leadership: top reported pay $5K · 3 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 2 filed schedules · includes major donors
  • Filing history: 5 filing years from 2012 to 2018
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Transparency & Controls: Major donor itemization scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 50/100.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.