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Nonprofiteer
← MORGAN HORSE FOUNDATION INC

Form 990 for tax year 2025

Filed by MORGAN HORSE FOUNDATION INC.

Totals

Total revenue
$2,882,153
Total expenses
$2,912,758
Contributions and grants received
$169,504
Grants paid
$113,845
Program service revenue
$2,655,927
Investment income
$51,170
Other revenue
$5,552
Total assets, end of year
$2,297,671
Total liabilities, end of year
$46,252
Net assets or fund balances, end of year
$2,251,419
Program services expenses (Part IX)
$2,369,083
Management and general expenses
$392,624
Fundraising expenses
$151,051
Program service expenses (Part III)
$2,369,083

Program services were 81.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $169,504

  • 2a · Program service revenue: GRAND NATIONAL SHOW

    total $2,315,627 · related or exempt $2,300,547 · unrelated business $15,080

  • 2b · Program service revenue: SSA INCOME

    total $224,303 · related or exempt $224,303

  • 2c · Program service revenue: PROGRAM FEES

    total $115,997 · related or exempt $115,997

  • 3 · Investment income

    total $22,049 · excluded $22,049

  • 7a · Gross sales of assets other than inventory

    securities $356,967

  • 7b · Less cost or other basis and sales expenses

    securities $327,846

  • 7c · Gain or loss

    securities $29,121

  • 7d · Net gain or loss

    total $29,121 · excluded $29,121

  • 10a · Gross sales of inventory

    $29,056

  • 10b · Cost of goods sold

    $23,504

  • 10c · Net income from sales of inventory

    total $5,552 · related or exempt $5,552

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $113,845 · program services $113,845

  • 7 · Other salaries and wages

    total $191,666 · program services $128,433 · management and general $63,233

  • 10 · Payroll taxes

    total $10,980 · program services $7,358 · management and general $3,622

  • 11b · Fees: legal

    total $7,877 · management and general $7,877

  • 11c · Fees: accounting

    total $25,088 · management and general $25,088

  • 11f · Fees: investment management

    total $8,267 · management and general $8,267

  • 11g · Fees: other

    total $423,661 · program services $240,678 · management and general $182,983

  • 12 · Advertising and promotion

    total $170,207 · program services $19,156 · fundraising $151,051

  • 13 · Office expenses

    total $38,984 · program services $4,093 · management and general $34,891

  • 16 · Occupancy

    total $6,556 · management and general $6,556

  • 17 · Travel

    total $200,961 · program services $200,961

  • 19 · Conferences, conventions and meetings

    total $5,013 · management and general $5,013

  • 22 · Depreciation, depletion and amortization

    total $4,350 · management and general $4,350

  • 23 · Insurance

    total $135,480 · program services $123,735 · management and general $11,745

  • 24a · Other expenses: EVENTS, FACILITIES, AND

    total $1,409,609 · program services $1,380,516 · management and general $29,093

  • 24b · Other expenses: SUBSCRIPTIONS AND LICEN

    total $89,230 · program services $85,000 · management and general $4,230

  • 24c · Other expenses: SPONSORSHIPS

    total $35,710 · program services $35,710

  • 24d · Other expenses: MISCELLANEOUS

    total $35,274 · program services $29,598 · management and general $5,676

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $514,630 · end of year $443,837

  • 2 · Savings and temporary cash investments

    beginning of year $253,315 · end of year $238,875

  • 4 · Accounts receivable

    beginning of year $13,883 · end of year $159,981

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,523 · end of year $1,250

  • 10a · Land, buildings and equipment: cost or other basis

    $55,189

  • 10b · Land, buildings and equipment: accumulated depreciation

    $40,249

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $14,940

  • 11 · Investments: publicly traded securities

    end of year $1,159,006

  • 15 · Other assets

    beginning of year $295,355 · end of year $279,782

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,673 · end of year $45,173

  • 25 · Other liabilities

    beginning of year $16,040 · end of year $1,079

  • 27 · Net assets without donor restrictions

    beginning of year $468,323 · end of year $1,687,052

  • 28 · Net assets with donor restrictions

    beginning of year $568,670 · end of year $564,367

Mission and programs · 2025

Mission

THE PURPOSE OF THE FOUNDATION IS TO PROVIDE GRANTS AND RELATED EXPENSES FOR ON-GOING EDUCATIONAL EFFORTS FOCUSING ON BUILDING AWARENESS OF THE HISTORY AND BENEFITS DERIVED FROM RAISING AND OWNING MORGAN HORSES AND TO PROMOTE AN APPRECIATION OF THE BREED.

Activities or mission (Part I)

PROMOTE EDUCATION OF THE HISTORY AND BENEFITS OF OWNING AND RAISING MORGAN HORSES.

  • THE GRAND NATIONAL & WORLD CHAMPIONSHIP MORGAN HORSE SHOW IS AN INTERNATIONAL COMPETITION:- OFFERS EDUCATIONAL CLINICS PROMOTING THE BENEFITS OF OWNING THE MORGAN HORSE BREED AND EQUINE ACTIVITIES.- PROVIDES TOURS TO PUBLIC ORGANIZATIONS INCLUDING SCHOOLS WHICH OUTLINE THE HISTORY OF THE BREED AND AVAILABLE EXPERIENCES PEOPLE CAN HAVE WITH HORSED, AND;- THE DIVERSITY OF CLASSES INCREASE PUBLIC AWARENESS AND GENERAL BREED PROMOTION.

    Expenses $2,349,083 · Grants $93,845 · Revenue $2,655,927

  • THE FOUNDATION ALSO PROVIDES EDUCATIONAL SCHOLARSHIPS TO THOSE WHO ARE UNDER THE AGE OF 40 WHO SEEK TO FURTHER THEIR EQUINE EDUCATION, SKILLS, OR PROFICIENCY AND/OR PROVIDE EQUINE-RELATED EXPERIENCE AND EDUCATION.THE FOUNDATION WILL ALSO PROVIDE FINANCIAL SUPPORT IN THE FORM OF GRANTS TO ORGANIZATIONS EXEMPT FROM FEDERAL INCOME TAXATION UNDER CODE SECTION 501(A), WITH A PARTICULAR FOCUS ON PROVIDING SUPPORT, ENCOURAGEMENT, AND ASSISTANCE TO PROMOTE THE UNDERSTANDING AND BENEFITS DERIVED FROM RAISING AND OWNING MORGAN HORSES.

    Expenses $20,000 · Grants $20,000

  • THE FOUNDATION OPERATES THE NATIONAL MUSEUM OF THE MORGAN HORSE (THE MUSEUM), WHICH IS ON DISPLAY AT PINELAND FARMS EQUESTRIAN CENTER LOCATED AT 15 FARM VIEW DRIVE, NEW GLOUCESTER, MAINE. THE MUSEUM WILL MAINTAIN AND PRESERVE THE HISTORY OF THE MORGAN HORSE BREED WHILE EDUCATING AND SHARING THE HISTORY OF THE MORGAN HORSE THROUGH ITS COLLECTION. THE MUSEUM HOSTS EXHIBITS, ART, AND A LIBRARY OF THE AMERICAN MORGAN HORSE ASSOCIATION REGISTRY VOLUMES AND THE BREED'S OFFICIAL PUBLICATION,

As filed on the 2025 return.

Listed in Part VII

  • Terri Sturm

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Carol Fletcher

    FINANCE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Steven Handy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dallas Bolen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ca Lee III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Merin Maggi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Meredithe Bodnar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lyn Estell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Diance Lents

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carrie Mortensen

    EXECUTIVE DIRECTOR

    Total calculated
    $134,595
    From this org
    $0
    From related orgs
    $123,837
    Other
    $10,758
    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.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MORGAN GRAND NATIONAL LLC

    EDUCATION OF THE MORGAN HORSE BREED · DE

    Directly controlled by THE MORGAN HORSE FOUNDATION INC

Provenance

Return type
form_990
Tax year
2025
Filed
3 September 2026
IRS schema version
2025v4.2
Source object
202602479349300510

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