The Sam Thompson Memorial Foundation Inc

Nonprofit profile at a glance

EIN
871179715
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Rio Rancho, NM, USA
Phone
7604081199
Rating
47
Verdict
MIXED
Rating confidence
Moderate
Sector
Equestrian

Official website

Reported finances

Revenue
$190,543
Expenses
$16,078
Assets
$450,365
Liabilities
$0

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

Leadership & pay

10 people listed

Executive titles in this filing

  • LAURA JOINER (PRESIDENT)

People named in this filing

  • MIKE ABADIR (SECRETARY)
  • JIM ANDERSON (VICE PRESIDE)
  • LAURA JOINER (PRESIDENT)

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

The sam thompson memorial foundation is a philanthropic organization focused on the health, education and welfare of those involved in the horse racing community.

What it reported doing in 2024

Scholarships granted to students currently enrolled in college, technical or vocational school and whose family is involved with the horse racing community. Scholarships are paid directly to the school. In 2024, a total of 32 scholarships were awarded.

Operating model

Revenue model
Other-operating. 75% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. 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: 5
  • Transparency & Controls: 90
  • Accountability: 51
  • Sustainability: 93
  • 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: $12.22 raised per $1 spent on fundraising; rating input score 45; 45th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 77.8%; rating input score 78; 20th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 91.6%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 28.01; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 21.2% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 54.3% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 9 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $85K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 45/100.