Horses With Hearts Inc
Horses With Hearts Inc shows consistent revenue and asset growth with zero reported officer compensation.
EIN: 203584534 · Martinsburg, WV · NTEE: D60 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $375K |
| Total Expenses | $183K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $1.1M |
| Transparency Score | 92/100 |
Is Horses With Hearts Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Horses With Hearts Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Horses With Hearts Inc
Horses With Hearts Inc (EIN: 203584534) is a nonprofit organization based in Martinsburg, WV, classified under NTEE code D60. The organization reported total revenue of $375K and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Horses With Hearts Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Horses With Hearts Inc is a small nonprofit that has been operating for 20 years, with 11 years of IRS 990 filings on record (2013–2023). Revenue has grown at a compound annual rate of 13.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $298K |
| Total Expenses | $183K |
| Surplus / Deficit | +$115K |
| Total Assets | $1.2M |
| Total Liabilities | $119K |
| Net Assets | $1.1M |
| Operating Margin | 38.5% |
| Debt-to-Asset Ratio | 9.9% |
| Months of Reserves | 78.4 months |
Financial Health Grade: A
In 2023, Horses With Hearts Inc reported a surplus of $115K with revenue exceeding expenses, holds 78.4 months of operating reserves (strong position), has a debt-to-asset ratio of 9.9% (very low leverage).
Financial Trends
Over 11 years of filings (2013–2023), Horses With Hearts Inc's revenue has grown at a compound annual growth rate (CAGR) of 13.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -15.8% | -0.4% | +18.7% |
| 2022 | +21.8% | +38.8% | +22.2% |
| 2021 | +27.9% | +18.6% | +25.7% |
| 2020 | +77.8% | +2.1% | +22.9% |
| 2019 | +1.0% | +82.3% | +8.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| 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 Horses With Hearts Inc with a Mission Score of 92 out of 100 (Excellent). 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: 85%
- fundraising: 5%
According to IRS 990 filings, Horses With Hearts Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $115K, with revenue exceeding expenses.
- Debt-to-asset ratio: 9.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based or compensated through non-officer roles, which is highly efficient for an organization of its size with assets exceeding $1 million.
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 Horses With Hearts Inc's IRS 990 filings:
- Lack of detailed functional expense breakdown in provided summary data, making it difficult to precisely assess program vs. administrative spending ratios without full 990 access.
Strengths
The following positive indicators were identified for Horses With Hearts Inc:
- Consistent and significant growth in revenue and assets over a decade, indicating strong financial health.
- Zero reported officer compensation across all filings, demonstrating highly efficient use of funds and volunteer leadership.
- Expenses consistently well below revenue, allowing for substantial asset accumulation and financial stability.
- Strong asset base ($1,356,267 latest) provides a solid foundation for long-term sustainability and program delivery.
- Consistent IRS 990 filing history, indicating good transparency and compliance.
Frequently Asked Questions about Horses With Hearts Inc
Is Horses With Hearts Inc a legitimate charity?
Horses With Hearts Inc (EIN: 203584534) is a registered tax-exempt nonprofit based in West Virginia. Our AI analysis gives it a Mission Score of 92/100. It has 11 years of IRS 990 filings on record. Total revenue: $375K. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Horses With Hearts Inc spend its money?
Horses With Hearts Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Horses With Hearts Inc tax-deductible?
Horses With Hearts Inc is registered as a tax-exempt nonprofit (EIN: 203584534). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Horses With Hearts Inc CEO make?
Horses With Hearts Inc's highest-compensated officer earns $1 annually. The organization reported $375K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Horses With Hearts Inc's spending goes to programs?
Horses With Hearts Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Horses With Hearts Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Horses With Hearts Inc is above average for NTEE category D60 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Horses With Hearts Inc located?
Horses With Hearts Inc is headquartered in Martinsburg, West Virginia and files with the IRS under EIN 203584534. It is classified under NTEE code D60.
How many years of IRS 990 filings does Horses With Hearts Inc have?
Horses With Hearts Inc 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 $375K in total revenue.
Is Horses With Hearts Inc a good charity?
Based on the available financial data, Horses With Hearts Inc appears to be a very good charity. It demonstrates strong financial growth, prudent management of expenses, and a clear commitment to its mission, as evidenced by its increasing assets and zero reported officer compensation.
How has Horses With Hearts Inc's financial health changed over time?
The organization's financial health has significantly improved over time. Revenue has grown from $98,558 in 2014 to $298,007 in 2023, and assets have increased from $63,334 to $1,196,463 in the same period, indicating robust growth and financial stability.
What is the organization's approach to executive compensation?
Horses With Hearts Inc reports 0% officer compensation in all available filings, suggesting a volunteer-driven leadership model or that compensation is not provided to its officers, which is a highly efficient and transparent practice.
Filing History
IRS 990 filing history for Horses With Hearts Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2013–2023), Horses With Hearts Inc's revenue has grown by 251.1%, moving from $85K to $298K. Total assets increased by 1691.1% over the same period, from $67K to $1.2M. Total functional expenses rose by 206.2%, from $60K to $183K. In its most recent filing year (2023), Horses With Hearts Inc reported a surplus of $115K, with revenue exceeding expenses. The organization holds $119K in liabilities against $1.2M in assets (debt-to-asset ratio: 9.9%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $298K | $183K | $1.2M | $119K | — | — |
| 2022 | $354K | $184K | $1.0M | $45K | — | View 990 |
| 2021 | $290K | $133K | $825K | $44K | — | View 990 |
| 2020 | $227K | $112K | $656K | $34K | — | View 990 |
| 2019 | $128K | $109K | $534K | $26K | — | View 990 |
| 2018 | $127K | $60K | $490K | $953 | — | View 990 |
| 2017 | $114K | $75K | $424K | $594 | — | View 990 |
| 2016 | $109K | $80K | $385K | $135 | — | View 990 |
| 2015 | $108K | $73K | $368K | $13K | — | View 990 |
| 2014 | $99K | $102K | $63K | $0 | — | View 990 |
| 2013 | $85K | $60K | $67K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $298K, expenses of $183K, and assets of $1.2M (revenue -15.8% year-over-year).
- 2022: Revenue of $354K, expenses of $184K, and assets of $1.0M (revenue +21.8% year-over-year).
- 2021: Revenue of $290K, expenses of $133K, and assets of $825K (revenue +27.9% year-over-year).
- 2020: Revenue of $227K, expenses of $112K, and assets of $656K (revenue +77.8% year-over-year).
- 2019: Revenue of $128K, expenses of $109K, and assets of $534K (revenue +1.0% year-over-year).
- 2018: Revenue of $127K, expenses of $60K, and assets of $490K (revenue +10.8% year-over-year).
- 2017: Revenue of $114K, expenses of $75K, and assets of $424K (revenue +4.5% year-over-year).
- 2016: Revenue of $109K, expenses of $80K, and assets of $385K (revenue +0.8% year-over-year).
- 2015: Revenue of $108K, expenses of $73K, and assets of $368K (revenue +10.0% year-over-year).
- 2014: Revenue of $99K, expenses of $102K, and assets of $63K (revenue +16.1% year-over-year).
- 2013: Revenue of $85K, expenses of $60K, and assets of $67K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Horses With Hearts Inc:
Data Sources and Methodology
This transparency report for Horses With Hearts 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.