Vadanova Inc

Nonprofit profile at a glance

EIN
521531484
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Hamilton, VA, USA
Phone
7035997696
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Equestrian

Reported finances

Revenue
$165,076
Expenses
$172,054
Assets
$114,671
Liabilities
$0

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

Leadership & pay

10 people listed

Executive titles in this filing

  • LORI LAFAVE (PRESIDENT)
  • DIANN CARPENTER (VICE-PRESIDENT)

People named in this filing

  • LORI LAFAVE (PRESIDENT)
  • DIANN CARPENTER (VICE-PRESIDENT)
  • MICHELLE KING (SECRETARY)

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

To organize and run dressage performance shows, educate and develop dressage riders' skills, conduct educational clinics on dressage and other related topics, and to promote fraternization and fellowship among dressage riders and sporthorse enthusiasts.

What it reported doing in 2024

To organize and run both licensed and schooling horse shows. The shows educate and develop riders' skills.

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.1%; rating input score 92
  • Program expense ratio: 88.3%; rating input score 88
  • Fundraising efficiency: Limited

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: 100%; rating input score 100; 63rd 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: -4.2%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.67; rating input score 31; 31st 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: 7.9% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 11.2% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 2.4% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 92.1% of revenue deployed · 88.3% of spending went to programs
  • Governance: 10 of 10 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $152K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.