Horse Cave Development Corporation
Horse Cave Development Corporation consistently operates at a deficit with declining assets and increasing liabilities.
EIN: 203758039 · Munfordville, KY · NTEE: S41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6K |
| Total Expenses | $6K |
| Program Spending | 70% |
| Net Assets | $-72,257 |
| Transparency Score | 45/100 |
Is Horse Cave Development Corporation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Horse Cave Development Corporation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Horse Cave Development Corporation
Horse Cave Development Corporation (EIN: 203758039) is a nonprofit organization based in Munfordville, KY, classified under NTEE code S41. The organization reported total revenue of $6K and total assets of $80K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Horse Cave Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Horse Cave Development Corporation is a micro nonprofit that has been operating for 19 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of -8.4%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $6K |
| Total Expenses | $6K |
| Surplus / Deficit | $-189 |
| Total Assets | $80K |
| Total Liabilities | $152K |
| Net Assets | $-72,257 |
| Operating Margin | -3.1% |
| Debt-to-Asset Ratio | 190.8% |
| Months of Reserves | 154.3 months |
Financial Health Grade: C
In 2021, Horse Cave Development Corporation reported a deficit of $189 with expenses exceeding revenue, holds 154.3 months of operating reserves (strong position), has a debt-to-asset ratio of 190.8% (high leverage).
Financial Trends
Over 11 years of filings (2011–2021), Horse Cave Development Corporation's revenue has declined at a compound annual growth rate (CAGR) of -8.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | +103.7% | -38.0% | -1.5% |
| 2020 | -67.1% | -14.9% | -33.9% |
| 2019 | +13.3% | +1.7% | -3.0% |
| 2018 | +119.4% | +36.1% | -2.4% |
| 2017 | -30.8% | -1.9% | +1.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Cave Development Corporation with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Horse Cave Development Corporation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $189, with expenses exceeding revenue.
- Debt-to-asset ratio: 190.8%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are not directly compensated, which is commendable for an organization of this size.
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 Cave Development Corporation's IRS 990 filings:
- Consistent operational deficits (expenses exceed revenue in all reported periods)
- Declining asset base over the past decade (from $127,559 in 2012 to $79,602 in 2021)
- Liabilities significantly exceed assets, indicating a negative net asset position ($151,859 liabilities vs. $79,602 assets in 2021)
- Low and fluctuating revenue streams, making consistent program delivery challenging
Strengths
The following positive indicators were identified for Horse Cave Development Corporation:
- Zero reported officer compensation across all filings, indicating volunteer leadership or other non-salary compensation methods
- Consistent filing history, demonstrating transparency in reporting to the IRS
Frequently Asked Questions about Horse Cave Development Corporation
Is Horse Cave Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Horse Cave Development Corporation (EIN: 203758039) significant concerns. Mission Score: 45/100. 4 red flags identified, 2 strengths noted.
How does Horse Cave Development Corporation spend its money?
Horse Cave Development Corporation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Horse Cave Development Corporation tax-deductible?
Horse Cave Development Corporation is registered as a tax-exempt nonprofit (EIN: 203758039). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Horse Cave Development Corporation's spending goes to programs?
Horse Cave Development Corporation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Horse Cave Development Corporation compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Horse Cave Development Corporation is near average for NTEE category S41 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Horse Cave Development Corporation located?
Horse Cave Development Corporation is headquartered in Munfordville, Kentucky and files with the IRS under EIN 203758039. It is classified under NTEE code S41.
How many years of IRS 990 filings does Horse Cave Development Corporation have?
Horse Cave Development Corporation has 11 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 $6K in total revenue.
Is Horse Cave Development Corporation financially sustainable?
Based on the consistent operational deficits (e.g., $6,000 revenue vs. $6,189 expenses in 2021) and the trend of declining assets ($127,559 in 2012 to $79,602 in 2021) coupled with increasing liabilities ($151,019 in 2012 to $151,859 in 2021), the organization's long-term financial sustainability appears challenged.
How does the organization cover its operational deficits?
With expenses consistently exceeding revenue (e.g., $2,946 revenue vs. $9,986 expenses in 2020), the organization likely covers its operational deficits by drawing down on its existing assets or through other unrecorded forms of support, as evidenced by the declining asset base.
What is the organization's plan to address its high liabilities relative to assets?
The organization's liabilities ($151,859 in 2021) significantly exceed its assets ($79,602 in 2021), indicating a negative net asset position. The filings do not provide a specific plan to address this, which is a significant financial concern.
Filing History
IRS 990 filing history for Horse Cave Development Corporation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), Horse Cave Development Corporation's revenue has declined by 58.5%, moving from $14K to $6K. Total assets decreased by 36.6% over the same period, from $126K to $80K. Total functional expenses fell by 83%, from $36K to $6K. In its most recent filing year (2021), Horse Cave Development Corporation reported a deficit of $189, with expenses exceeding revenue. The organization holds $152K in liabilities against $80K in assets (debt-to-asset ratio: 190.8%), resulting in net assets of $-72,257.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $6K | $6K | $80K | $152K | — | — |
| 2020 | $3K | $10K | $81K | $153K | — | View 990 |
| 2019 | $9K | $12K | $122K | $187K | — | View 990 |
| 2018 | $8K | $12K | $126K | $188K | — | View 990 |
| 2017 | $4K | $8K | $129K | $188K | — | View 990 |
| 2016 | $5K | $9K | $128K | $181K | — | View 990 |
| 2015 | $2K | $10K | $125K | $176K | — | View 990 |
| 2014 | $1K | $11K | $124K | $166K | — | View 990 |
| 2013 | $2K | $11K | $125K | $157K | — | View 990 |
| 2012 | $8K | $14K | $128K | $151K | — | View 990 |
| 2011 | $14K | $36K | $126K | $143K | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $6K, expenses of $6K, and assets of $80K (revenue +103.7% year-over-year).
- 2020: Revenue of $3K, expenses of $10K, and assets of $81K (revenue -67.1% year-over-year).
- 2019: Revenue of $9K, expenses of $12K, and assets of $122K (revenue +13.3% year-over-year).
- 2018: Revenue of $8K, expenses of $12K, and assets of $126K (revenue +119.4% year-over-year).
- 2017: Revenue of $4K, expenses of $8K, and assets of $129K (revenue -30.8% year-over-year).
- 2016: Revenue of $5K, expenses of $9K, and assets of $128K (revenue +115.7% year-over-year).
- 2015: Revenue of $2K, expenses of $10K, and assets of $125K (revenue +113.9% year-over-year).
- 2014: Revenue of $1K, expenses of $11K, and assets of $124K (revenue -24.9% year-over-year).
- 2013: Revenue of $2K, expenses of $11K, and assets of $125K (revenue -81.7% year-over-year).
- 2012: Revenue of $8K, expenses of $14K, and assets of $128K (revenue -43.3% year-over-year).
- 2011: Revenue of $14K, expenses of $36K, and assets of $126K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Horse Cave Development Corporation:
Data Sources and Methodology
This transparency report for Horse Cave Development Corporation 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.