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Nonprofiteer
← AMERICAN QUARTER HORSE FOUNDATION

Form 990 for tax year 2023

Filed by AMERICAN QUARTER HORSE FOUNDATION.

Totals

Total revenue
$11,932,105
Total expenses
$2,342,348
Contributions and grants received
$6,966,303
Grants paid
$508,792
Program service revenue
$411,664
Investment income
$4,520,927
Other revenue
$33,211
Total assets, end of year
$71,872,707
Total liabilities, end of year
$259,114
Net assets or fund balances, end of year
$71,613,593
Program services expenses (Part IX)
$1,807,194
Management and general expenses
$331,991
Fundraising expenses
$203,163
Program service expenses (Part III)
$1,807,194

Program services were 77.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Karl Stressman

    Executive Vice President

    Total calculated
    $494,097
    From this org
    $0
    From related orgs
    $457,687
    Other
    $36,410
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    not reported + $395,275 related
    Bonus
    not reported + $44,500 related
    Other
    not reported + $17,912 related
    Deferred
    not reported + $19,800 related
    Nontaxable benefits
    not reported + $16,610 related
    Filer's total
    not reported + $494,097 related

  • Christine Sitz

    COO & Secretary

    Total calculated
    $214,666
    From this org
    $182,142
    From related orgs
    $0
    Other
    $32,524
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $181,561
    Bonus
    not reported
    Other
    $581
    Deferred
    $11,109
    Nontaxable benefits
    $21,415
    Filer's total
    $214,666

  • Kenneth Banks

    President (To 3/2024)

    Total calculated
    $0
    Hours/week
    2 + 30 related

  • James HuntPresFrom

    3/2024)1st VP(To 3/2024)

    Total calculated
    $0
    Hours/week
    2 + 40 related

  • Jeff Tebow1st VPFrom 32024

    2nd VP (To 3/2024)

    Total calculated
    $0
    Hours/week
    2 + 10 related

  • Jim Brinkman2nd VPFrom

    3/2024)Board Member(To 3/2024)

    Total calculated
    $0
    Hours/week
    2 + 5 related

  • Lori Bucholz

    Board Member

    Total calculated
    $0
    Hours/week
    2 + 25 related

  • Robin Merrill

    Appointed Trustee (To 4/2024)

    Total calculated
    $0
    Hours/week
    2

  • Catherine Nicholas

    Appointed Trustee

    Total calculated
    $0
    Hours/week
    2

  • Larry Bell

    Appointed Trustee

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Kathy Headley

    Appointed Trustee

    Total calculated
    $0
    Hours/week
    2 + 5 related

  • Ross Roark

    Trustee (From 3/2024)

    Total calculated
    $0
    Hours/week
    2 + 12 related

  • Daniel Henson

    Appointed Trustee(From 4/2024)

    Total calculated
    $0
    Hours/week
    2

  • Andrew Barbe

    CFO & Treasurer

    Total calculated
    $0
    Hours/week
    5 + 40 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, line 3
related organization, american quarter horse association (AQHA) compensation policy: The aqha executive committee approves compensation for the Aqha executive vice president, treasurer, and key employees. Market studies are completed to ensure compensation is in alignment with comparable roles in similarly situated organizations. The executive committee has received independent reviews of the executive vice president's compensation in the past, but it is not done on an annual basis. The documentation of their decisions is reflected in the minutes of the executive committee meetings. The compensation process was last done in 2019.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202501409349301750

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