Tennessee Walking Horse Breeders' and Exhibitors' Association
Nonprofit profile at a glance
- EIN
- 620382328
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024
- Location
- Lewisburg, TN, USA
- Phone
- 9313591574
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $2,127,673
- Expenses
- $2,051,728
- Assets
- $2,093,856
- Liabilities
- $486,207
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
62 people listed
Executive titles in this filing
- MARK FARRAR (CEO)
Highest reported compensation
- MARK FARRAR (CEO): $126,911 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Registration and promotion of Tennessee walking horses
What it reported doing in 2024
Voice magazine - a magazine created to promote the Tennessee walking horse by being the voice of the members of twhbea.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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 - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 59
- Transparency & Controls: 92
- Accountability: 84
- Sustainability: 43
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 66.4%; rating input score 66
- Program expense ratio: 68.1%; rating input score 68
- 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: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd 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: 3.6%; rating input score 46; 46th percentile among comparable filings
- Total-asset coverage ratio: 1.02; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0.23; rating input score 40; 40th percentile among comparable filings
- Officer compensation ratio: 6.2%; rating input score 46; 46th percentile among comparable filings
Growth
- Program expense growth: 5.5% per year; rating input score 100; 43rd percentile among comparable filings
- Revenue growth: 1.7% per year; rating input score 100; 19th percentile among comparable filings
- Asset growth: 3.4% per year; rating input score 100; 26th percentile among comparable filings
Details
- Where the money goes: 66.4% of revenue deployed · 68.1% of spending went to programs
- Governance: 61 of 61 board members independent · 5 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $1.4M in reported program spending
- Leadership: top reported pay $127K · 62 people listed
- Consistency: 28 of 28 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 13 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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 46/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 40/100.
- Moderate — Sustainability: Officer compensation ratio scored 46/100.