The New Horizons Foundation Inc
Nonprofit profile at a glance
- EIN
- 841123082
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Colorado Springs, CO, USA
- Phone
- 7192601213
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Public Foundations
Reported finances
- Revenue
- $68,690,282
- Expenses
- $50,788,577
- Assets
- $116,268,654
- Liabilities
- $110,692
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- Steven Prensner (CEO & President)
- V William Moritz (VP & Executive Director)
- Gregory Smith (Vice President of Outreach)
Highest reported compensation
- Christopher Rosenhahn (CFO & Corporate Secretary): $178,477 total reported compensation
- Steven Prensner (CEO & President): $155,049 total reported compensation
- Gregory Smith (Vice President of Outreach): $148,794 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The Objective of the New Horizons Foundation is to help individuals accomplish their charitable objectives in religious, educational, scientific, benevolent and health related activities
What it reported doing in 2024
Help individuals accomplish their charitable objectives in religious, educational, scientific, benevolent and health related activities.
Operating model
- Revenue model
- Donor-supported. 92% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 42% for direct work, and 58% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filed totals do not add up.
Rating breakdown
- Financial Efficiency: 81
- Transparency & Controls: 80
- Accountability: 92
- Sustainability: 82
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 88.5%; rating input score 89
- Program expense ratio: 95.3%; rating input score 95
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 88.9%; rating input score 89; 3rd percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: 2 of 8 controls in place; rating input score 25
- Claims monitoring procedures: Pass
- Requires narrative reports: Fail
- Conducts field audits: Fail
- May suspend future funding: Fail
- Requires financial reports: Fail
- Conducts site visits: Fail
- Requires grant agreements: Pass
- May require repayment: Fail
- Grant itemization coverage: 92.5%; rating input score 93; 25th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 85.7%; rating input score 86; 32nd percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 26.1%; rating input score 91; 91st percentile among comparable filings
- Total-asset coverage ratio: 2.29; rating input score 67; 67th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
- Officer compensation ratio: 1.1%; rating input score 72; 72nd percentile among comparable filings
Growth
- Program expense growth: 17% per year; rating input score 100; 89th percentile among comparable filings
- Revenue growth: 15.7% per year; rating input score 100; 90th percentile among comparable filings
- Asset growth: 13.9% per year; rating input score 100; 83rd percentile among comparable filings
Details
- Where the money goes: 88.5% of revenue deployed · 95.3% of spending went to programs
- Governance: 12 of 14 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $48.4M in reported program spending
- Leadership: top reported pay $178K · 16 people listed · 5 of 6 pay-setting controls reported
- Consistency: 39 of 42 current checks pass · 3 findings to review
- Schedules: 9 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 314 filed money-flow records
- Related organizations: 310 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 — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
- Moderate — Transparency & Controls: Schedule D revenue reconciliation did not reconcile in the filed values.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.