Hoofbeats With Heart
Hoofbeats With Heart faces persistent operational deficits and growing liabilities despite zero officer compensation.
EIN: 141988788 · Higley, AZ · NTEE: P80 · Updated: 2026-03-28
Is Hoofbeats With Heart Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hoofbeats With Heart directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hoofbeats With Heart
Hoofbeats With Heart (EIN: 141988788) is a nonprofit organization based in Higley, AZ, classified under NTEE code P80. The organization reported total revenue of $880K and total assets of $210K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hoofbeats With Heart's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hoofbeats With Heart with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Hoofbeats With Heart allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is not compensated through salaries, which is a strong positive for resource allocation and donor trust.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Hoofbeats With Heart's IRS 990 filings:
- Consistent operational deficits (expenses exceeding revenue in most recent years, e.g., $922,756 expenses vs. $786,004 revenue in 2023).
- High and rapidly increasing liabilities ($782,634 in 2023) relative to assets ($204,832 in 2023).
- Assets have decreased significantly from a peak of $421,967 in 2021 to $204,832 in 2023, while liabilities have surged.
Strengths
The following positive indicators were identified for Hoofbeats With Heart:
- Zero officer compensation reported across all filings, indicating a commitment to directing funds towards the mission.
- Consistent IRS 990 filing history (13 filings), demonstrating transparency in reporting.
- Clear mission (Therapeutic Recreation - NTEE P80).
Frequently Asked Questions about Hoofbeats With Heart
Is Hoofbeats With Heart a legitimate charity?
Based on AI analysis of IRS 990 filings, Hoofbeats With Heart (EIN: 141988788) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Hoofbeats With Heart spend its money?
Hoofbeats With Heart directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Hoofbeats With Heart tax-deductible?
Hoofbeats With Heart is registered as a tax-exempt nonprofit (EIN: 141988788). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Hoofbeats With Heart financially sustainable given its consistent operational deficits?
The organization has consistently spent more than it earned in recent years (e.g., $922,756 expenses vs. $786,004 revenue in 2023), leading to operational deficits. This trend, coupled with increasing liabilities, raises concerns about long-term financial sustainability.
What is the reason for the significant increase in liabilities, reaching $782,634 in 2023?
The liabilities have grown substantially, from $34,839 in 2014 to $782,634 in 2023. This rapid increase, especially relative to assets, suggests potential debt accumulation or other financial obligations that warrant further investigation.
How does Hoofbeats With Heart cover its operational deficits if officer compensation is 0%?
With 0% officer compensation, the deficits are not due to executive salaries. They are likely covered by drawing down prior reserves, incurring debt (contributing to the high liabilities), or relying on non-operating income not reflected in the primary revenue figures.
What is the specific breakdown of program, administrative, and fundraising expenses?
The provided data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories, making it difficult to precisely assess spending efficiency in these areas.
Filing History
IRS 990 filing history for Hoofbeats With Heart showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hoofbeats With Heart's revenue has grown by 769.1%, moving from $90K to $786K. Total assets increased by 1948.3% over the same period, from $10K to $205K. Total functional expenses rose by 997.3%, from $84K to $923K. In its most recent filing year (2023), Hoofbeats With Heart reported a deficit of $137K, with expenses exceeding revenue. The organization holds $783K in liabilities against $205K in assets (debt-to-asset ratio: 382.1%), resulting in net assets of $-577,802.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $786K | $923K | $205K | $783K | — | — |
| 2022 | $840K | $967K | $223K | $657K | — | View 990 |
| 2021 | $863K | $926K | $422K | $663K | — | View 990 |
| 2020 | $941K | $1.1M | $259K | $437K | — | — |
| 2019 | $748K | $753K | $226K | $350K | — | View 990 |
| 2018 | $621K | $633K | $243K | $345K | — | View 990 |
| 2017 | $404K | $587K | $256K | $347K | — | View 990 |
| 2016 | $453K | $512K | $268K | $203K | — | View 990 |
| 2015 | $404K | $477K | $241K | $123K | — | — |
| 2014 | $510K | $416K | $233K | $35K | — | View 990 |
| 2013 | $165K | $201K | $105K | $0 | — | View 990 |
| 2012 | $238K | $132K | $139K | $-912 | — | View 990 |
| 2011 | $90K | $84K | $10K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $786K, expenses of $923K, and assets of $205K (revenue -6.4% year-over-year).
- 2022: Revenue of $840K, expenses of $967K, and assets of $223K (revenue -2.7% year-over-year).
- 2021: Revenue of $863K, expenses of $926K, and assets of $422K (revenue -8.3% year-over-year).
- 2020: Revenue of $941K, expenses of $1.1M, and assets of $259K (revenue +25.8% year-over-year).
- 2019: Revenue of $748K, expenses of $753K, and assets of $226K (revenue +20.5% year-over-year).
- 2018: Revenue of $621K, expenses of $633K, and assets of $243K (revenue +53.6% year-over-year).
- 2017: Revenue of $404K, expenses of $587K, and assets of $256K (revenue -10.7% year-over-year).
- 2016: Revenue of $453K, expenses of $512K, and assets of $268K (revenue +12.0% year-over-year).
- 2015: Revenue of $404K, expenses of $477K, and assets of $241K (revenue -20.7% year-over-year).
- 2014: Revenue of $510K, expenses of $416K, and assets of $233K (revenue +209.1% year-over-year).
- 2013: Revenue of $165K, expenses of $201K, and assets of $105K (revenue -30.8% year-over-year).
- 2012: Revenue of $238K, expenses of $132K, and assets of $139K (revenue +163.7% year-over-year).
- 2011: Revenue of $90K, expenses of $84K, and assets of $10K.
Data Sources and Methodology
This transparency report for Hoofbeats With Heart is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.