Horse Angels Inc
Horse Angels Inc maintains stable finances with consistent revenue and significant liabilities, operating with no reported officer compensation.
EIN: 141927122 · Spencer, IN · NTEE: D20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $90K |
| Total Expenses | $79K |
| Program Spending | 80% |
| Net Assets | $115K |
| Transparency Score | 75/100 |
Is Horse Angels Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Horse Angels Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Horse Angels Inc
Horse Angels Inc (EIN: 141927122) is a nonprofit organization based in Spencer, IN, classified under NTEE code D20. The organization reported total revenue of $90K and total assets of $367K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Horse Angels Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Horse Angels Inc is a micro nonprofit that has been operating for 20 years, with 7 years of IRS 990 filings on record (2011–2018). Revenue has grown at a compound annual rate of -6.9%.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
| Total Revenue | $90K |
| Total Expenses | $79K |
| Surplus / Deficit | +$11K |
| Total Assets | $367K |
| Total Liabilities | $252K |
| Net Assets | $115K |
| Operating Margin | 11.8% |
| Debt-to-Asset Ratio | 68.7% |
| Months of Reserves | 55.7 months |
Financial Health Grade: A
In 2018, Horse Angels Inc reported a surplus of $11K with revenue exceeding expenses, holds 55.7 months of operating reserves (strong position), has a debt-to-asset ratio of 68.7% (high leverage).
Financial Trends
Over 7 years of filings (2011–2018), Horse Angels Inc's revenue has declined at a compound annual growth rate (CAGR) of -6.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2018 | -9.3% | -18.7% | -0.4% |
| 2017 | +9.4% | +12.0% | -1.2% |
| 2016 | -10.9% | -14.3% | +3.4% |
| 2014 | +0.4% | -6.7% | +0.1% |
| 2013 | +52.8% | +2.5% | -0.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Horse Angels Inc with a Mission Score of 75 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Horse Angels Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $11K, with revenue exceeding expenses.
- Debt-to-asset ratio: 68.7%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all seven available filings, indicating a volunteer-led structure which likely contributes to lower overhead costs.
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 Horse Angels Inc's IRS 990 filings:
- High liabilities relative to assets and annual revenue, consistently around $250,000-$270,000, warranting further investigation into their nature.
Strengths
The following positive indicators were identified for Horse Angels Inc:
- Consistent financial reporting with seven IRS 990 filings.
- Stable asset base, consistently around $360,000-$370,000.
- 0% officer compensation reported across all filings, indicating volunteer leadership and potentially lower administrative costs.
- Expenses generally track closely to revenue, suggesting efficient use of incoming funds for operations.
Frequently Asked Questions about Horse Angels Inc
Is Horse Angels Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Horse Angels Inc (EIN: 141927122) some concerns. Mission Score: 75/100. 1 red flag identified, 4 strengths noted.
How does Horse Angels Inc spend its money?
Horse Angels Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Horse Angels Inc tax-deductible?
Horse Angels Inc is registered as a tax-exempt nonprofit (EIN: 141927122). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Horse Angels Inc's spending goes to programs?
Horse Angels Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Horse Angels Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Horse Angels Inc is above average for NTEE category D20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Horse Angels Inc located?
Horse Angels Inc is headquartered in Spencer, Indiana and files with the IRS under EIN 141927122. It is classified under NTEE code D20.
How many years of IRS 990 filings does Horse Angels Inc have?
Horse Angels Inc has 7 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $90K in total revenue.
What is the nature of Horse Angels Inc's significant liabilities, which consistently range from $250,000 to $270,000?
The provided data shows liabilities consistently around $250,000-$270,000, which is a substantial portion of their total assets ($360,000-$370,000). This could indicate mortgages, long-term debt, or restricted funds, and further investigation into their 990 filings (specifically Schedule D) would be needed to understand the specifics.
How does Horse Angels Inc manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership is entirely volunteer-based. This is a positive indicator for donor confidence as it implies that funds are not being used for executive salaries.
What is the specific breakdown of program, administrative, and fundraising expenses for Horse Angels Inc?
The provided summary data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories. To get this information, one would need to review the full IRS Form 990, specifically Part IX, Statement of Functional Expenses.
Filing History
IRS 990 filing history for Horse Angels Inc showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2011–2018), Horse Angels Inc's revenue has declined by 39.4%, moving from $148K to $90K. Total assets decreased by 9.9% over the same period, from $407K to $367K. Total functional expenses fell by 46.1%, from $146K to $79K. In its most recent filing year (2018), Horse Angels Inc reported a surplus of $11K, with revenue exceeding expenses. The organization holds $252K in liabilities against $367K in assets (debt-to-asset ratio: 68.7%), resulting in net assets of $115K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2018 | $90K | $79K | $367K | $252K | — | View 990 |
| 2017 | $99K | $97K | $368K | $264K | — | — |
| 2016 | $90K | $87K | $373K | $270K | — | View 990 |
| 2014 | $101K | $101K | $360K | $265K | — | View 990 |
| 2013 | $101K | $108K | $360K | $269K | — | View 990 |
| 2012 | $66K | $106K | $363K | $268K | — | View 990 |
| 2011 | $148K | $146K | $407K | $272K | — | View 990 |
Year-by-Year Financial Summary
- 2018: Revenue of $90K, expenses of $79K, and assets of $367K (revenue -9.3% year-over-year).
- 2017: Revenue of $99K, expenses of $97K, and assets of $368K (revenue +9.4% year-over-year).
- 2016: Revenue of $90K, expenses of $87K, and assets of $373K (revenue -10.9% year-over-year).
- 2014: Revenue of $101K, expenses of $101K, and assets of $360K (revenue +0.4% year-over-year).
- 2013: Revenue of $101K, expenses of $108K, and assets of $360K (revenue +52.8% year-over-year).
- 2012: Revenue of $66K, expenses of $106K, and assets of $363K (revenue -55.3% year-over-year).
- 2011: Revenue of $148K, expenses of $146K, and assets of $407K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Horse Angels Inc:
Data Sources and Methodology
This transparency report for Horse Angels Inc 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.