The White Horse Group Foundation Inc
The White Horse Group Foundation Inc. consistently accumulates significant assets with minimal reported expenses and no officer compensation.
EIN: 200674318 · Wilmington, DE · NTEE: T22 · Updated: 2026-03-28
Is The White Horse Group Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The White Horse Group Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The White Horse Group Foundation Inc
The White Horse Group Foundation Inc (EIN: 200674318) is a nonprofit organization based in Wilmington, DE, classified under NTEE code T22. The organization reported total revenue of $28.1M and total assets of $55.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The White Horse Group Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The White Horse Group Foundation Inc is a large nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 19.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $12.8M |
| Total Expenses | $1.6M |
| Surplus / Deficit | +$11.1M |
| Total Assets | $31.0M |
| Total Liabilities | $18K |
| Net Assets | $31.0M |
| Operating Margin | 87.4% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 230.8 months |
Financial Health Grade: A
In 2023, The White Horse Group Foundation Inc reported a surplus of $11.1M with revenue exceeding expenses, holds 230.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), The White Horse Group Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 19.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +589.0% | +12.8% | +56.2% |
| 2022 | +40.0% | +22.2% | +1.0% |
| 2021 | +44.2% | -23.9% | +0.8% |
| 2020 | -8.7% | -10.2% | -3.1% |
| 2019 | -70.3% | +267.7% | +5.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 The White Horse Group Foundation 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, The White Horse Group Foundation 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 $11.1M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is a positive indicator for minimizing administrative costs relative to the organization's size and revenue.
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 The White Horse Group Foundation Inc's IRS 990 filings:
- High revenue-to-expense disparity without clear program spending details, suggesting significant asset accumulation over direct program delivery.
- Lack of detailed program service accomplishments in the provided summary to justify the substantial assets and revenue.
Strengths
The following positive indicators were identified for The White Horse Group Foundation Inc:
- Consistent asset growth, indicating strong financial management and sustainability (e.g., assets grew from $7.9M in 2011 to $30.9M in 2023).
- Zero reported officer compensation across all filings, demonstrating a commitment to minimizing executive overhead.
- Low liabilities relative to assets, indicating financial stability (e.g., $17,572 in liabilities vs. $30,996,478 in assets in 2023).
- Significant revenue generation, particularly in recent years ($12,759,250 in 2023).
Frequently Asked Questions about The White Horse Group Foundation Inc
Is The White Horse Group Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, The White Horse Group Foundation Inc (EIN: 200674318) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does The White Horse Group Foundation Inc spend its money?
The White Horse Group Foundation Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The White Horse Group Foundation Inc tax-deductible?
The White Horse Group Foundation Inc is registered as a tax-exempt nonprofit (EIN: 200674318). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is The White Horse Group Foundation Inc. a good charity?
The White Horse Group Foundation Inc. appears to be a financially sound organization with significant asset growth and no reported officer compensation. Its 'goodness' as a charity depends on the ultimate deployment of its substantial assets and grants, which are not fully detailed in the provided summary data. It functions more as a grant-making foundation than a direct service provider.
What is the primary use of the organization's substantial revenue?
Based on the provided data, a significant portion of the organization's revenue, such as the $12,759,250 in 2023 against $1,611,584 in expenses, is retained and contributes to asset growth, which reached $30,996,478 in 2023. This suggests a focus on endowment building or grantmaking to other entities rather than direct program expenditures.
How does the organization ensure its assets are used effectively for its mission?
While the data shows significant asset accumulation, the provided IRS 990 summary does not detail the specific grantmaking activities or program investments made by the foundation. Further investigation into its grant recipients and program descriptions would be necessary to understand how these assets are deployed to achieve its NTEE code T22 mission (Philanthropy, Voluntarism & Grantmaking Foundations).
Filing History
IRS 990 filing history for The White Horse Group Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), The White Horse Group Foundation Inc's revenue has grown by 733.6%, moving from $1.5M to $12.8M. Total assets increased by 290.5% over the same period, from $7.9M to $31.0M. Total functional expenses rose by 80.5%, from $893K to $1.6M. In its most recent filing year (2023), The White Horse Group Foundation Inc reported a surplus of $11.1M, with revenue exceeding expenses. The organization holds $18K in liabilities against $31.0M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $31.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $12.8M | $1.6M | $31.0M | $18K | — | View 990 |
| 2022 | $1.9M | $1.4M | $19.8M | $13K | — | View 990 |
| 2021 | $1.3M | $1.2M | $19.6M | $18K | — | View 990 |
| 2020 | $918K | $1.5M | $19.5M | $17K | — | View 990 |
| 2019 | $1.0M | $1.7M | $20.1M | $18K | — | — |
| 2015 | $3.4M | $466K | $19.1M | $15K | — | View 990 |
| 2014 | $2.6M | $435K | $16.2M | $16K | — | View 990 |
| 2013 | $3.6M | $384K | $14.0M | $14K | — | View 990 |
| 2012 | $3.3M | $438K | $10.8M | $13K | — | View 990 |
| 2011 | $1.5M | $893K | $7.9M | $5K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $12.8M, expenses of $1.6M, and assets of $31.0M (revenue +589.0% year-over-year).
- 2022: Revenue of $1.9M, expenses of $1.4M, and assets of $19.8M (revenue +40.0% year-over-year).
- 2021: Revenue of $1.3M, expenses of $1.2M, and assets of $19.6M (revenue +44.2% year-over-year).
- 2020: Revenue of $918K, expenses of $1.5M, and assets of $19.5M (revenue -8.7% year-over-year).
- 2019: Revenue of $1.0M, expenses of $1.7M, and assets of $20.1M (revenue -70.3% year-over-year).
- 2015: Revenue of $3.4M, expenses of $466K, and assets of $19.1M (revenue +28.9% year-over-year).
- 2014: Revenue of $2.6M, expenses of $435K, and assets of $16.2M (revenue -27.5% year-over-year).
- 2013: Revenue of $3.6M, expenses of $384K, and assets of $14.0M (revenue +10.5% year-over-year).
- 2012: Revenue of $3.3M, expenses of $438K, and assets of $10.8M (revenue +114.3% year-over-year).
- 2011: Revenue of $1.5M, expenses of $893K, and assets of $7.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The White Horse Group Foundation Inc:
Data Sources and Methodology
This transparency report for The White Horse Group Foundation 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.