Tennessee Walking Horse National

Nonprofit profile at a glance

EIN
620682046
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Shelbyville, TN, USA
Phone
9316845915
Rating
37
Verdict
REVIEW
Rating confidence
Moderate

Official website

Reported finances

Revenue
$5,606,696
Expenses
$5,522,945
Assets
$9,041,791
Liabilities
$1,554,927

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

Leadership & pay

8 people listed

Executive titles in this filing

  • WARREN WELLS (CEO)

Highest reported compensation

  • WARREN WELLS (CEO): $362,524 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promotion of the Tennessee walking horse breed, and management of the annual Tennessee walking horse national celebration

What it reported doing in 2024

Conducted and promoted horse shows during the year. The facility hosted more than 15 events and horse shows with more than 175,000 spectators in attendance. Approximately 4,000 horses competed for prizes.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

REVIEW - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 69
  • Sustainability: 45
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 1.5%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 1.64; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 6.6%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.9% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $363K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay and related organizations
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.