2025-05-20T16:32:03-05:00 2024-09-30 Sorren Inc 102 N CASCADE AVENUE SUITE 400 COLORADO SPRINGS CO 80903 990 2023-10-01 510187823 AMERICAN QUARTER HORSE FOUNDATION % ANDREW BARBE AMER 8063765181 PO BOX 32111 AMARILLO TX 79120 Andrew Barbe CFO & Treasurer 8063765181 2025-05-15 true true DOREEN B MERZ P00841439 7196301186 2023 2025-03-06 01:10:19Z X Karl Stressman PO BOX 32111 AMARILLO TX 79120 48343532 false X WWW.AQHA.COM/FOUNDATION X 1975 TX The Foundation connects horses and people through charitable giving to support programs that preserve our horses legacy and further the well-being of the American Quarter Horse family 9 9 22 228 -6770 0 5290838 6966303 392326 411664 1076371 4520927 48563 33211 6808098 11932105 663329 508792 0 0 705630 825795 0 0 203163 927915 1007761 2296874 2342348 4511224 9589757 56783133 71872707 240610 259114 56542523 71613593 X THE FOUNDATION CONNECTS HORSES AND PEOPLE THROUGH CHARITABLE GIVING TO SUPPORT PROGRAMS THAT PRESERVE OUR HORSE'S LEGACY AND FURTHER THE WELL-BEING OF THE AMERICAN QUARTER HORSE AND THE QUARTER HORSE FAMILY. false false 1114372 455731 Hall of Fame and Museum: To honor those humans and horses that have made a transformational impact upon AQHA and the American Quarter Horse industry. (continued on Sch O) 353373 230442 GRANTS AND EDUCATION: To advance relevant basic and applied research that enhances the well-being of the American Quarter Horse. By fostering innovative equine research and education, we leverage our resources with exceptional scientists to address fundamental issues facing both the AQHA membership and the broader horse industry. 339449 278350 Scholarships: To empower AQHA members with enhanced educational opportunities that strengthen leadership within the American Quarter Horse industry. Through the development of advanced education and training both nationally and internationally, we ensure the resources needed to steer the American Quarter Horse industry toward a sustainable future. 144 scholarships were paid in the year ending 9/30/24. 1807194 true true false false false false false true false true true true false false false true true true false false false false false false true false false true true true false false false false false false false false true false false false false true false false false true 39 0 22 true true true false false false false true true false false false false false false X 9 9 false false false false false true true true true false false true true true true true true true true false AL AK AR CA CO CT DC FL GA HI KS KY ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN VA WA WV WI X X ANDREW BARBE 8063765181 PO BOX 32111 AMARILLO TX 79120 Karl Stressman Executive Vice President 5.0 45.0 X 0 457687 36410 Christine Sitz COO & Secretary 55.0 0.0 X 182142 0 32524 Kenneth Banks President (To 3/2024) 2.0 30.0 X X 0 0 0 James HuntPresFrom 3/2024)1st VP(To 3/2024) 2.0 40.0 X X 0 0 0 Jeff Tebow1st VPFrom 32024 2nd VP (To 3/2024) 2.0 10.0 X X 0 0 0 Jim Brinkman2nd VPFrom 3/2024)Board Member(To 3/2024) 2.0 5.0 X X 0 0 0 Lori Bucholz Board Member 2.0 25.0 X 0 0 0 Robin Merrill Appointed Trustee (To 4/2024) 2.0 0.0 X 0 0 0 Catherine Nicholas Appointed Trustee 2.0 0.0 X 0 0 0 Larry Bell Appointed Trustee 2.0 2.0 X 0 0 0 Kathy Headley Appointed Trustee 2.0 5.0 X 0 0 0 Ross Roark Trustee (From 3/2024) 2.0 12.0 X 0 0 0 Daniel Henson Appointed Trustee(From 4/2024) 2.0 0.0 X 0 0 0 Andrew Barbe CFO & Treasurer 5.0 40.0 X 0 0 0 182142 457687 68934 1 false true false 0 232500 5000 30000 6698803 34500 6966303 MUSEUM ADMISSIONS 712110 66664 66664 AQHA MEMBERSHIP 712110 345000 345000 411664 1130400 1130400 0 3276 3276 4200 4200 0 4200 4200 39629736 36239209 3390527 3390527 3390527 131460 232500 143022 -11562 -11562 0 0 0 72384 29196 43188 43188 MISC OPERATING REVENUE 900099 879 879 UBI INCOME FROM PASS-THROUGH K-1 531390 -6770 -6770 -5891 11932105 455731 -6770 4516841 157942 157942 346975 346975 3875 3875 0 224831 123657 33725 67449 0 473656 328963 73104 71589 22718 16010 3513 3195 46365 32482 7164 6719 58225 38012 8914 11299 0 0 0 0 0 51809 51809 0 28554 2976 2298 23280 70939 31785 31899 7255 67737 30350 30459 6928 0 265129 247721 17408 35658 14134 18831 2693 0 0 0 0 329804 295561 31487 2756 0 EXHIBIT AND EDUCATIONAL EXPENS 118026 118026 MISCELLANEOUS EXPENSE 31093 9713 21380 IN-KIND EXPENSE 9012 9012 2342348 1807194 331991 203163 885805 631750 0 0 15390 3621064 0 21850 0 0 0 0 0 0 16244 14840 43231 77527 11478253 7042757 4463262 4435496 38905172 45427703 10272429 15609276 0 0 0 0 2181600 2033201 56783133 71872707 75580 99227 165030 159887 0 0 0 0 0 0 0 0 0 0 0 0 0 0 240610 259114 X 21247894 24333599 35294629 47279994 56542523 71613593 56783133 71872707 9589757 5481313 X X false true X true false X X X 1 AMERICAN QUARTER HORSE ASSOCIATION 750725576 10 true 508792 0 1 508792 0 true true true true true false false false false false false false false false false false false true false Schedule A, Part I, Line 12 (g), Column (v) and (vi) Goods and services provided for the benefit of the supported organization: the Foundation maintains and operates the american quarter horse museum and hall of fame to honor those humans and horses that have made a transformational impact upon aqha and the american quarter horse industry. The foundation also provides scholarships and grants to advance basic and applied research for the betterment of the American quarter horse and the broader horse industry. the amount of monetary support reported in column (v) is the summation of the grants and scholarships expense, as reported on the Form 990, part ix, line 1 and 2. The dollar amount of other support has not been estimated. SCHedule A PART IV, SECTION A, LINE 2 THE ASSOCIATION'S IRS DETERMINATION LETTER ONLY STATES THE STATUS AS 501(C)(5). SCHedule A PART IV, SECTION A, LINE 3B THE FOUNDATION REQUESTED THAT THE AMERICAN QUARTER HORSE ASSOCIATION (AQHA) CALCULATE THE PUBLIC SUPPORT SCHEDULE FOR ORGANIZATIONS DESCRIBED IN 509(A)(2) TO VERIFY THAT IT SATISFIED THE PUBLIC SUPPORT TESTS. THIS CALCULATION WILL BE DONE ON A YEARLY BASIS TO CONFIRM THAT AQHA CONTINUES TO MEET THE REQUIRED TESTS OF A PUBLICLY SUPPORTED ORGANIZATION UNDER 509(A)(2). SCHedule A PART IV, SECTION A, LINE 3C THE FOUNDATION'S GIFT ACCEPTANCE POLICY ACCEPTS CONTRIBUTIONS FOR PROGRAMS AND PROJECTS IMPLEMENTED BY AQHA THAT HAVE CHARITABLE INTENT AND A FOCUS ON EDUCATION. AQHA PROGRAM MANAGERS ARE REQUIRED TO COMPLETE A PROGRAM QUALIFICATION QUESTIONNAIRE THAT OUTLINES THE PURPOSE, TIMING, AND GOALS OF THE PROPOSED PROGRAM. FOUNDATION STAFF, IN CONJUCTION WITH FINANCE AND THE FOUNDATION COUNCIL, EVALUATES THE PROPOSED PROGRAM FOR COMPLIANCE AND FEASIBILITY. IF THE PROGRAM IS APPROVED BY THE BOARD OF TRUSTEES AS HAVING MET CHARITABLE REQUIREMENTS, THE PROGRAM IS IMPLEMENTED. PROGRAM MANAGERS PROVIDE AN ACCOUNTING FOR PROJECTS WITH PROPER SUPPORTING DOCUMENTATION PRIOR TO DISBURSEMENT. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2033201 X X X false 48200574 2781346 9885147 1516565 59350502 36028739 7784566 5527927 1140658 48200574 34451179 9027315 -7302221 147534 36028739 30099044 757574 4954839 1360278 34451179 28775319 376107 2124851 1177233 30099044 0.27420 0.54970 0.17610 false false 223243 223243 10843211 6662179 4181032 390607 380578 10029 21192 21192 4435496 LIFE INSURANCE POLICY 215117 F VENTURE CAPITAL PARTNERSHIPS 15394159 F 15609276 0 0 X 17839582 5481313 305755 172218 5959286 11880296 51809 51809 11932105 2768512 305755 172218 477973 2290539 51809 51809 2342348 SCH D PART III, LINE 4 HALL OF FAME INDUCTEE ARTIFACTS ARE ENCASED IN A TIMELINE FORMAT IN THE ORDER OF THEIR INDUCTION DATE. Sch D, Part V, line 1b Prior year Column (b), Line 1 b, Contributions, was updated to include cumulative, historical reconciliation adjustment(s) for endowment funds, based upon the audited financial statements issued for fiscal year ending 9-30-2023. SCH D PART V, LINE 4 Endowment funds are restricted for the following purposes: SCHOLARSHIP, EQUINE RESEARCH, EQUINE ASSISTED services GRANTS, HALL OF FAME AND MUSEUM, FOUNDATION OPERATIONS. SCH D PART X, LINE 2 The Foundation is a qualifying organization under Subsection 501(c)(3) of the Internal Revenue Code and is exempt from federal and state income taxes under Section 509(a). However, the Foundation is subject to federal income tax from any unrelated business activities. The Foundation believes that it does not have any uncertain tax positions that are material to the financial statements. SCH D PART XI, LINE 2D COST OF GOODS SOLD: $29,196 Fundraising expense: $143,022 Total: $172,218 SCH D PART XII, LINE 2D COST OF GOODS SOLD: $29,196 Fundraising expense: $143,022 Total: $172,218 HOF Celebration 262760 205000 57760 3593 44641 17582 6414 ART SHOW / SALE 101200 27500 73700 2699 2000 66093 0 363960 232500 131460 3593 47340 19582 72507 143022 -11562 true Iowa State University 1138 Pearson Hall 505 Morrill Rd Ames IA 500112103 426004224 IA STATE 18750 Equine Research Tarleton State University PO Box T-0070 Stephenville TX 76402 756001870 Texas State 18655 Equine Research American Quarter Horse Association PO Box 200 Amarillo TX 79168 750725576 501(C)(5) 37775 Program Reimbursement Grants North Carolina State University PO Box 7214 Raleigh NC 276957214 566000756 NC State 10000 Equine research Purdue University 23510 Network Services Place Chicago IL 606731235 356002041 IN State 6667 Equine research Texas A&M Agrilife Research 400 Harvey Mitchell Parkway South S College Station TX 77845 746000541 TX State 39347 Equine research University of California 1850 Research Park Dr Davis CA 956186153 946036494 CA State 26748 Equine research 6 1 Professional Horseman's Crisis Fund 10 67500 Scholarships 141 279475 SCH I PART I, LINE 2 RECIPIENTS OF SCHOLARSHIPS FROM THE AMERICAN QUARTER HORSE FOUNDATION ARE SELECTED BY AN IMPARTIAL SELECTION GROUP COMPRISED OF QUALIFIED INDIVIDUALS RECOMMENDED BY FOUNDATION STAFF AND APPROVED BY THE FOUNDATION COUNCIL AND BOARD OF TRUSTEES. APPLICANTS ARE REQUIRED TO SUBMIT AN EXTENSIVE APPLICATION AND THREE LETTERS OF RECOMMENDATION. THE APPLICANTS ARE SCORED IN FOUR AREAS: 1) FINANCIAL NEED 2) ACADEMIC ACHIEVEMENT 3) INVOLVEMENT IN THE QUARTER HORSE INDUSTRY 4) LEADERSHIP AND COMMUNICATIONS SKILLS THE COMMITTEE ATTEMPTS TO SELECT THOSE WITH A GENUINE INTEREST IN HORSES. THE SELECTION PROCESS IS DESIGNED TO PREVENT DISCRIMINATION. RECIPIENTS OF EQUINE RESEARCH GRANTS SUBMIT APPLICATIONS TO THE AMERICAN QUARTER HORSE FOUNDATION. GRANT APPLICATIONS ARE REVIEWED BY THE AQHA RESEARCH COMMITTEE, AND FUNDING RECOMMENDATIONS ARE MADE TO AND APPROVED BY THE BOARD OF TRUSTEES. THE PROFESSIONAL HORSEMEN'S CRISIS FUND PROVIDES FINANCIAL ASSISTANCE TO APPLICANTS WHO MUST BE AQHA MEMBERS IN GOOD STANDING AND ALSO BE MEMBERS OF THE AQHA PROFESSIONAL HORSEMEN'S ASSOCIATION. IN EVALUATING EVIDENCE OF FINANCIAL NEED, CONSIDERATION SHALL BE GIVEN TO THE FOLLOWING CRITERIA: ANNUAL GROSS FAMILY INCOME, ANNUAL NET FAMILY INCOME, NUMBER OF CHILDREN OR OTHER DEPENDENTS COMPRISING THE FAMILY OF THE RECIPIENT, AVAILABILITY OF INSURANCE, ALTERNATE SOURCES OF INCOME, AND SEVERITY OF THE DISASTER, HARDSHIP, OR ILLNESS. RECIPIENTS WILL BE SELECTED BY THE CRISIS FUND COMMITTEE, WHICH CONSISTS OF MEMBERS FROM THE PROFESSIONAL HORSEMEN'S COUNCIL, AND FUNDING RECOMMENDATIONS ARE MADE TO AND APPROVED BY THE BOARD OF TRUSTEES. PROGRAM REIMBURSEMENT GRANTS INCLUDE THE VERDUGO INTERNATIONAL HORSEMANSHIP GRANT, aqhlead, AND AQHLEArn. THE VERDUGO INTERNATIONAL HORSEMANSHIP GRANT IS DESIGNED TO STRENGTHEN HORSEMENSHIP SKILLS IN INTERNATIONAL AFFILIATE COUNTRIES. GRANTS ASSIST INTERNATIONAL HORSE ENTHUSIASTS DEVELOP SKILLS IN: BASIC HORSEMANSHIP, USE OF EQUIPMENT, BEHAVIOR MODIFICATION OF HORSES, NUTRITION, FIRST AID, AND VETERINARY CARE. HOST COUNTRIES SUBMIT GRANT APPLICATIONS VIA AQHA'S INTERNATIONAL DEPARTMENT, SAID APPLICATIONS ARE REVIEWED BY AN IMPARTIAL SELECTION COMMITTEE, AND FINAL GRANT APPROVAL IS MADE BY THE BOARD OF TRUSTEES. THROUGH AQHLEAD THE FOUNDATION SUPPORTS THE DEVELOPMENT OF YOUNG ADULTS AND THEIR CONTINUOUS INVOLVEMENT IN THE EQUINE INDUSTRY. DURING THE PROGRAM YEAR, PARTICIPANTS ARE PARTNERED WITH A MENTOR FROM THE AMERICAN QUARTER HORSE INDUSTRY. THESE MENTORS WILL INCLUDE AQHA COMMITTEE CHAIRPERSONS. AQHLEAD PARTICIPANTS SHADOW THEIR MENTORS' LEADERSHIP ACTIVITIES IN SERVICE TO AQHA AND THE EQUINE INDUSTRY, AND MAINTAIN MONTHLY CONTACT WITH THEIR MENTORS IN ORDER TO GAIN MORE INSIGHT INTO THEIR ROLE IN GUIDING IMPACTFUL INDUSTRY DECISIONS. SELECTED YOUNG ADULTS ATTEND THREE MAJOR INDUSTRY EVENTS. ADDITIONALLY, PARTICIPANTS ENGAGE IN MONTHLY CONFERENCE CALLS WITH FELLOW AQHLEAD PARTICIPANTS AND PROGRAM LEADERSHIP. PARTICIPANTS ARE SELECTED THROUGH A COMPETITIVE APPLICATION PROCESS, AND SELECTED CANDIDATES ARE AWARDED GRANTS TO OFFSET THE COST OF PARTICIPATION. AQHLEARN PROVIDES ONLINE EDUCATION RESOURCES DESIGNED FOR YOUTH AGES 8 TO 18. TOPICS PERTAIN TO ALL ASPECTS OF HORSES, INCLUDING HEALTH, HISTORY AND BASIC KNOWLEDGE. CONTENT DEVELOPMENT AND RELATED COSTS ARE REIMBURSED TO AQHA FOLLOWING REVIEW AND APPROVAL BY THE PROGRAMS MANAGER. Schedule I, Part III, Line 1-2, Column B The number of recipients was estimated based on the number of fulfilled assistance applications and scholarship recipients. X X false false false false false false false false false Christine Sitz COO & Secretary 181561 581 11109 21415 214666 Karl Stressman Executive Vice President 395275 44500 17912 19800 16610 494097 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. X 1 25488 FMV X Food & Beverage 2 9012 FMV 0 false true false SCH M PART I LINE 15 COLUMN B COLUMN (B) REPORTS THE NUMBER OF CONTRIBUTIONS RECEIVED. Form 990 , Part III, section B, line 4a BOTH HORSE AND HUMAN INDUCTEES SHOULD HAVE MADE A HISTORICALLY SIGNIFICANT INFLUENCE UPON THEIR RESPECTIVE FIELDS OR DISCIPLINES, AND THE HORSE SHOULD HAVE SHOWN GREAT ACCOMPLISHMENT IN THOSE AREAS. THE LIVES OF HUMAN INDUCTEES SHOULD REFLECT THEIR ENDURING INFLUENCE UPON THEIR FIELD OR DISCIPLINE, AND SHOULD SHOW THE HIGHEST LEVEL OF CHARACTER AND INTEGRITY. THE MUSEUM MISSION IS TO STEWARD AND PRESERVE THE HISTORY AND LEGACY OF THE AMERICAN QUARTER HORSE AND EDUCATE OUR DIVERSE AUDIENCE. THE MUSEUM SERVED APPROXIMATELY 12,000 VISITORS FROM 10/1/23 TO 9/30/24. Form 990 , Part VI, section B, line 7 a&B THE BOARD OF TRUSTEES OF THE FOUNDATION ARE COMPRISED OF UP TO FIVE (5) ELECTED TRUSTEES AND UP TO FOUR (4) APPOINTED TRUSTEES. THE ELECTED TRUSTEES ARE ELECTED AT THE ANNUAL MEETING OF THE RELATED ORGANIZATION, AMERICAN QUARTER HORSE ASSOCIATION (AQHA), WHEN THE AQHA BOARD ELECTS ITS EXECUTIVE COMMITTEE. THE MEMBERS OF AQHA'S EXECUTIVE COMMITTEE AUTOMATICALLY ARE MEMBERS OF THE BOARD OF TRUSTEES OF THE FOUNDATION. THE FOUNDATION'S OFFICER POSITIONS OF PRESIDENT, FIRST VICE PRESIDENT, AND SECOND VICE PRESIDENT ARE AUTOMATICALLY FILLED BY THE INDIVIDUAL SERVING AS THE AQHA'S ELECTED OFFICER IN THIS POSITION. SIMILARLY, THE APPOINTED OFFICERS OF THE FOUNDATION ALSO SERVE IN OFFICE POSITIONS OF THE AQHA: EXECUTIVE VICE PRESIDENT (IS ALSO THE EXECUTIVE VICE PRESIDENT OF AQHA), SECRETARY (ALSO CHIEF OPERATING OFFICER OF THE FOUNDATION), AND TREASURER (ALSO TREASURER OF AQHA). THE FOUR (4) FOUNDATION TRUSTEES WHO ARE NOT AUTOMATICALLY ASSIGNED FROM AQHA, ARE APPOINTED BY THE AQHA ASSIGNED-TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 B THE 990 IS COMPLETED WITH THE ASSISTANCE OF THE ACCOUNTING DEPARTMENT IN CONJUNCTION WITH THE TREASURER. THE 990 IS THEN REVIEWED BY THE TREASURER, EXECUTIVE VICE PRESIDENT, AND THE BOARD OF TRUSTEES. AFTER FILING, THE 990 IS AVAILABLE ON THE FOUNDATION'S WEBSITE AND TO ANYONE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12 C ALL BOARD MEMBERS ARE REQUIRED TO FILL OUT THE CONFLICT OF INTEREST STATEMENTS ON AN ANNUAL BASIS. ALL OF THESE RESPONSES ARE REVIEWED BY THE BOARD OF TRUSTEES TO DETERMINE WHERE CONFLICTS EXIST. IF A CONFLICT ARISES, THE PERSON WITH SUCH CONFLICT IS NOT ALLOWED TO VOTE ON THE RELATED TRANSACTION. THERE WERE NO INSTANCES OF CONFLICT OF INTEREST DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 15 A & B THE AQHA CHIEF EXECUTIVE OFFICER APPROVES COMPENSATION FOR THE CHIEF FOUNDATION OFFICER WITH INPUT FROM THE AQHA HUMAN RESOURCES DEPARTMENT. MARKET STUDIES ARE COMPLETED TO ENSURE COMPENSATION is IN ALIGNMENT WITH COMPARABLE ROLES IN SIMILARLY SITUATED ORGANIZATIONS. DOCUMENTATION OF COMPARABILITY DATA AND APPROVAL IS MAINTAINED BY THE AQHA HUMAN RESOURCES DEPARTMENT. THE ORGANIZATION HAS NO OTHER PAID OFFICERS OR EMPLOYEES MEETING THE IRS DEFINITION OF A KEY EMPLOYEE. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE FOUNDATION'S wEBSITE. form 990, part xii, line 2c THERE HAS BEEN NO CHANGE IN THE SELECTION OF A FINANCIAL STATEMENT AUDITOR OR IN THE REVIEW OF THE FINANCIAL STATEMENT AUDIT FROM PRIOR YEARS. American Quarter Horse Association PO BOX 200 AMARILLO TX 79168 750725576 See part VII TX 501(C)5 N/A none false false true true true false false false false false false false false true true true false false true true Schedule R, Part II, Column B, Line 1 American Quarter Horse Association Primary activity: COLLECTS, RECORDS, AND PRESERVES THE PEDIGREE OF THE american QUARTER HORSE.