Overview
What is Horsepower Foundation Inc?
Horsepower Foundation Inc is a nonprofit organization located in High Point, North Carolina, with an address at 4537 Walpole Road. Its primary mission is to support Horsepower, Inc., a nonprofit corporation known as Horsepower Therapeutic Learning Center. This center aims to improve the lives of individuals with disabilities by offering therapeutic, educational, and recreational programs. The Foundation's role is to raise funds and assets for this center, contributing significantly to its mission of enhancing the well-being of those with disabilities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
Horsepower Foundation Inc has earned a commendable Four-Star rating from Charity Navigator, reflecting a strong emphasis on accountability and financial integrity. With a perfect score in critical areas such as independent board membership and material diversion of assets, the organization demonstrates a commitment to transparent governance and responsible financial practices.
The foundation's financial health is also noteworthy, with a program expense ratio of 88.66%, indicating that a significant majority of its expenditures directly support its programs. Additionally, the presence of a conflict of interest policy, whistleblower policy, and proper document retention practices underscores its dedication to ethical operations.
Despite its strengths, potential donors and stakeholders should remain aware that the rating is derived solely from financial metrics. While the foundation showcases strong accountability, further insights into program impact and community feedback may be beneficial for a more comprehensive understanding of its overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Horsepower Foundation Inc legitimate?
Horsepower Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Horsepower Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $3,250
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Horsepower Foundation Inc?
The mission of Horsepower Foundation Inc. is centered around raising funds and assets for Horsepower, Inc., a North Carolina nonprofit corporation known as Horsepower Therapeutic Learning Center. This organization's primary objective is to enhance the well-being of individuals with disabilities by offering a program of therapeutic, educational, and recreational value. The Horsepower Foundation Inc. plays a crucial role in supporting this mission by providing the necessary funds and assets. It's important to note that Horsepower, Inc. utilizes these funds for their equestrian programs and administrative offices, aiming to improve the lives of individuals with disabilities.
What is the revenue of Horsepower Foundation Inc?
Horsepower Foundation Inc's revenue in 2023 was $200,156.
Who are the executives of Horsepower Foundation Inc and what are their salaries?
There 25 volunteers at Horsepower Foundation Inc.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $3,250
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Horsepower Foundation Inc?
Horsepower Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Horsepower Foundation Inc
Horsepower Foundation Inc, a nonprofit organization, is dedicated to raising funds and assets for Horsepower Therapeutic Learning Center, an entity that works tirelessly to improve the lives of individuals with disabilities. The mission of Horsepower Foundation Inc is to support this center by providing a program that offers therapeutic, educational, and recreational benefits. This program aims to enhance the welfare of individuals with disabilities, thereby promoting their overall well-being. Horsepower Foundation Inc's efforts directly contribute to the operation of properties used by Horsepower Therapeutic Learning Center for equestrian programs and administrative offices.
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Impact
October, 2024
Horsepower Foundation Inc plays a vital role in enhancing the quality of life for individuals with disabilities by providing crucial support to Horsepower Therapeutic Learning Center in High Point, NC. Through fundraising and asset development, the foundation ensures that resources are available for therapeutic, educational, and recreational programs tailored to meet the needs of those with disabilities.
The foundation's impact is evident in its commitment to maintaining the facilities used for equestrian programs, which are essential for delivering these services. By fostering an environment where individuals can engage with horses, the foundation not only promotes physical well-being but also aids in emotional and social development. Their efforts create opportunities for personal growth and empowerment, enabling participants to build confidence and life skills in a supportive setting.
Overall, Horsepower Foundation Inc significantly contributes to the welfare of individuals with disabilities in the community, enriching their lives through transformative experiences that promote independence and joy.
This information is meant to be a general summary of Horsepower Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $1,089
- Gross Receipts: $200,156
Assets and Liabilities:
- Total Assets: $1,798,051
- Total Liabilities: $500
- Net Assets: $1,797,551
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Organization Details
Principal Officer
Dan Rice
NTEE Category
Code: P11 - Human services
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