Form 990 for tax year 2022

Filed by MUSTANG HERITAGE FOUNDATION.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 28 July 2025. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue: $5,225,643 changed to $5,175,754
Total expenses: $4,812,816 changed to $4,903,373
Contributions and grants received: $4,673,430 changed to $4,530,841
Grants paid: $0 changed to $26,550
Program service revenue: $309,142 changed to $401,842
Total assets, end of year: $3,288,791 changed to $3,185,610
Net assets or fund balances, end of year: $3,101,380 changed to $2,998,199
Program services expenses: $4,464,399 changed to $4,494,347
Management and general expenses: $347,431 changed to $408,040
Program service expenses (Part III): not reported changed to $4,494,347

Totals

Total revenue: $5,225,643
Total expenses: $4,812,816
Contributions and grants received: $4,673,430
Grants paid: $0
Program service revenue: $309,142
Investment income: $184,682
Other revenue: $58,389
Total assets, end of year: $3,288,791
Total liabilities, end of year: $187,411
Net assets or fund balances, end of year: $3,101,380
Program services expenses (Part IX): $4,464,399
Management and general expenses: $347,431
Fundraising expenses: $986
Program service expenses (Part III): not reported

Program services were 92.8% 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.

1e · Government grants (contributions)

$4,571,293
1f · All other contributions, gifts and grants

$102,137
2a · Program service revenue: Mustang Adoption Fees

total $309,142 · related or exempt $309,142
3 · Investment income

total $5,589 · excluded $5,589
6c · Rental income or loss

real property $0 · personal property $0
6d · Net rental income or loss

total $0
7a · Gross sales of assets other than inventory

securities $179,093
7c · Gain or loss

securities $179,093 · other assets $0
7d · Net gain or loss

total $179,093 · excluded $179,093
8c · Net income from fundraising events

total $0
9c · Net income from gaming

total $0
10a · Gross sales of inventory

$78,035
10b · Cost of goods sold

$23,727
10c · Net income from sales of inventory

total $54,308 · excluded $54,308
11a · Other revenue: Miscellaneous income

total $4,081 · excluded $4,081
11e · Other revenue, total

$4,081

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $87,805 · program services $81,198 · management and general $6,607
7 · Other salaries and wages

total $434,798 · program services $330,570 · management and general $104,228
9 · Other employee benefits

total $52,647 · program services $45,975 · management and general $6,672
10 · Payroll taxes

total $42,996 · program services $33,987 · management and general $9,009
11b · Fees: legal

total $16,988 · management and general $16,988
11c · Fees: accounting

total $91,473 · program services $45,873 · management and general $45,601
11g · Fees: other

total $114,878 · program services $83,795 · management and general $31,083
12 · Advertising and promotion

total $105,811 · program services $98,523 · management and general $6,897 · fundraising $391
13 · Office expenses

total $109,179 · program services $56,127 · management and general $52,457 · fundraising $595
14 · Information technology

total $27,627 · program services $6,997 · management and general $20,630
16 · Occupancy

total $52,503 · program services $24,516 · management and general $27,987
17 · Travel

total $60,734 · program services $32,565 · management and general $28,168
20 · Interest

total $4,669 · management and general $4,669
22 · Depreciation, depletion and amortization

total $0
23 · Insurance

total $15,355 · program services $3,460 · management and general $11,895
24a · Other expenses: Trainer Costs & Incentives

total $3,444,864 · program services $3,507,614 · management and general -$62,750
24b · Other expenses: Event Incentives

total $52,500 · program services $52,500
24c · Other expenses: Repairs & Maintenance

total $9,078 · program services $1,985 · management and general $7,093
24d · Other expenses: BLM Adoption Fee

total $7,250 · program services $7,250
24e · All other expenses

total $81,661 · program services $51,464 · management and general $30,197 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $64,070 · end of year $68,612
2 · Savings and temporary cash investments

end of year $417,596
4 · Accounts receivable

beginning of year $849,492 · end of year $1,176,515
9 · Prepaid expenses and deferred charges

beginning of year $330 · end of year $165
10c · Land, buildings and equipment, net

beginning of year $0 · end of year $0
11 · Investments: publicly traded securities

beginning of year $1,954,361 · end of year $1,625,903
15 · Other assets

beginning of year $3,790
17 · Accounts payable and accrued expenses

beginning of year $146,225 · end of year $187,411
27 · Net assets without donor restrictions

beginning of year $2,724,678 · end of year $3,100,400

Mission and programs · 2022

Mission

The Mustang Heritage Foundation works to ensure the successful private placement of excess wild horses and burros removed from public lands so future generations can enjoy this distinctive feature of our American heritage.

The Mustang Heritage Foundation created the Extreme Mustang Makeovers (EMM ) and other wild horse events to showcase the trainability and versatility of wild horses. Experienced horse trainers pick up a wild horse, train the horse for 100 days and then compete for event incentives at an EMM event. The trained mustangs are then available for purchase or adoption through a public auction. There were 2 EMM events produced in 2020 that included 6 days of competition, 2 placement auctions. 99 Horses were placed in to private care through these events. Without a program like the EMM older less colorful animals would be moved to long term government care costing taxpayers approximately $50,000 per animal over that animal's lifetime.
Revenue $309,142

As filed on the 2022 return.

Listed in Part VII

Paula Carr

Chair

Total calculated

$0

Hours/week

8
Gary Holt

Vice Chair

Total calculated

$0

Hours/week

2
Mark Bolender

Treasurer

Total calculated

$0

Hours/week

2
BF Yeates

Trustee

Total calculated

$0

Hours/week

2
Christine Hamilton

Trustee

Total calculated

$0

Hours/week

2
Fred Woehl

Trustee

Total calculated

$0

Hours/week

2
Cary Scholtes

Executive Director

Total calculated

$77,933

From this org

$66,688

From related orgs

$0

Other

$11,245

Hours/week

40

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

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2022
Filed: 15 August 2024
IRS schema version: 2022v5.0
Source object: 202432289349304053

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