Shelbyville Horse Show Inc

Nonprofit profile at a glance

EIN
311535143
IRS 990 coverage
2016–2020
Forms available
Form 990 2020
Location
Shelbyville, KY, USA
Phone
5023491336
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Philanthropy, Voluntarism, and Grantmaking Foundations N.E.C.

Reported finances

Revenue
$8,092
Expenses
$15,559
Assets
$187,234
Liabilities
$320,174

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • CLAY COTTONGIM (PRESIDENT)
  • EDWARD BENNETT (VICE PRESIDENT)

People named in this filing

  • CLAY COTTONGIM (PRESIDENT)
  • RH BENNETT (SECRETARY/TREASURER)
  • DR MICHAEL BARNETT (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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To present a quality horse show on an annual basis for the enjoyment of the people in shelby county and the surrounding region; to manage and conduct the horse show and other related activities; and, to solicit funds, sponsorships and advertising; all for the purpose of raising money for one or more charities as designated by the organization's board of directors.

What it reported doing in 2020

Competition is a four day event-over 500 participants from more than 10 states competing in 68 classes-event is attended by more than 14,000 people.

Operating model

Revenue model
Other-operating. 87% of the money available for current operations came from other operating revenue.
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

SUPPORTED - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 82
  • Accountability: 62
  • Sustainability: 38
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.5%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 16th 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: 85.7%; rating input score 86; 24th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • 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: -92.3%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 12.03; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 1.71; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -26.4% per year; rating input score 0; 19th percentile among comparable filings
  • Revenue growth: -27.4% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: 2.6% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.5% of spending went to programs
  • Governance: 12 of 14 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $15K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2016 to 2020
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.