Is Hoofbeats With Heart Legit?

Hoofbeats With Heart demonstrates consistent operational deficits, with expenses exceeding revenue in most recent years. For example, in 2023, expenses were $922,756 against revenues of $786,004, indicating a reliance on prior reserves or other funding sources to cover operations. The organization's assets have fluctuated but remain relatively low compared to its annual expenses, suggesting limited financial cushion. Liabilities have shown a concerning upward trend in recent years, reaching $782,634 in 2023, which is significantly higher than its total assets of $204,832. This high liability-to-asset ratio raises questions about long-term financial stability. The organization's transparency is bolstered by its consistent filing of IRS Form 990s, with 13 filings available. A notable positive is the reported 0% officer compensation across all available filings, indicating that executive leadership is not drawing a salary from the organization. However, without a detailed breakdown of program, administrative, and fundraising expenses, it's challenging to fully assess spending efficiency. The consistent operational deficits and growing liabilities are key areas for potential donors to consider. While the mission (NTEE Code P80 - Therapeutic Recreation) is clear, the financial health, particularly the increasing liabilities and consistent spending beyond revenue, warrants closer scrutiny. The lack of officer compensation is a strong positive for transparency and resource allocation, but it doesn't fully offset the concerns regarding financial sustainability.