Second Stride Inc

Nonprofit profile at a glance

EIN
202947614
IRS 990 coverage
2015–2025
Forms available
Form 990 2025
Location
Prospect, KY, USA
Phone
5022418440
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Private Grantmaking Foundations

Reported finances

Revenue
$858,058
Expenses
$847,606
Assets
$153,967
Liabilities
$50,166

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

Leadership & pay

8 people listed

Executive titles in this filing

  • KIMBERLY S SMITH (PRESIDENT)

Highest reported compensation

  • KIMBERLY S SMITH (PRESIDENT): $45,500 total reported compensation

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

Overview

Mission

We provide professional rehabilitation, retraining, and placement of retired thoroughbred racehorses with qualified adopters. We specialize in transitioning thoroughbreds with the proper care and quality training they need to succeed in something new.

What it reported doing in 2025

Since our founding in 2005, second stride inc has placed over 2,000 retired thoroughbred racehorses in need with qualified adopters throughout the united states. In 2025, 130 horses were transitioned into training for a new job and adopted into new, qualified homes.

Operating model

Revenue model
Donor-supported. 80% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 92
  • Accountability: 77
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.8%; rating input score 85
  • Program expense ratio: 85.8%; rating input score 86
  • Fundraising efficiency: $28.14 raised per $1 spent on fundraising; rating input score 64; 64th 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 24th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.2%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 0.18; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.33; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 5.4%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 16.7% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 14.9% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 84.8% of revenue deployed · 85.8% of spending went to programs
  • Governance: 7 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $727K in reported program spending
  • Leadership: top reported pay $46K · 8 people listed
  • Highest-paid contractors: 1 contractor listed · $383K reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 11 filing years from 2015 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 7 not reported.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.