Standardbred Retirement Foundation Inc

Nonprofit profile at a glance

EIN
520325043
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Cream Ridge, NJ, USA
Phone
6097383255
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Civil Rights, Social Action, Advocacy N.E.C.

Official website

Reported finances

Revenue
$2,013,394
Expenses
$2,132,692
Assets
$796,688
Liabilities
$153,113

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

Leadership & pay

4 people listed

Executive titles in this filing

  • PETER GERRY (PRESIDENT)

People named in this filing

  • PETER GERRY (PRESIDENT)
  • JUDITH BOKMAN (SECRETARY/TR)
  • STEPHEN BOKMAN (TRUSTEE)

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

Our heartfelt mission is to rescue horses from the threat of slaughter, secure loving homes with the distinctive commitment to lifelong follow up and guardianship. We tirelessly promote a universal understanding that horses require a lifetime commitment of enduring care. Through the provision of resources, education and outreach to communities, individuals and other programs we meet their needs and continue our unwavering promise for a better world for horses and humans.

What it reported doing in 2024

The standardbred retirement foundation (srf) is committed to rescuing horses from slaughter, coming to the aid of 600-800 horses annually. It provides rehabilitative and medical care, and serves as a sanctuary for 510 horses. Its adoption program is unique, placing horses in homes that meet their individual needs and requiring semiannual veterinary reports to monitor each horse's well-being for life.

Operating model

Revenue model
Donor-supported. 77% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 92
  • Accountability: 18
  • Sustainability: 28
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.5%; rating input score 95
  • Program expense ratio: 89.7%; rating input score 90
  • Fundraising efficiency: $10.26 raised per $1 spent on fundraising; rating input score 38; 38th 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: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.9%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.37; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 8.8% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 6.5% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: -3.1% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 95.5% of revenue deployed · 89.7% of spending went to programs
  • Governance: 0 of 4 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Highest-paid contractors: 5 contractors listed · $927K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 9 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 38/100.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.