Mustangs Forever INC EIN 20-0445652

Mustangs Forever INC

EIN  20-0445652 Public charity (501(c)(3)) Kerrville, TX
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Provides veterinary care, shelter, feeding, and training for wild mustangs.
Leadership
Marsha Olson · Secretarytreasurer
Money in and out
$208K revenue, $425K expenses
Bottom line

Provides veterinary care, shelter, feeding, and training for wild mustangs. For fiscal year 2024 it reported $208K in revenue, $425K in expenses, and $2.9M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$208K
Pt VIII · Ln 12
Total expenses
$425K
Pt IX · Ln 25
Net assets
$2.9M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$217K
Total assets
2.9M
deployed as grants and operations
Grants paid
23K
in FY2024
Grants made
5grants
total in period
Payout rate
1%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 5 grants · $23K · 2024–2024
Krystal CatesFY2024$10,000
Forever BrandedFY2024$6,000
Kerr County JR Livestock ShowFY2024$5,600
Hill District Grandstand ShowFY2024$1,000
Cody Adams MemorialFY2024$500

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$5K
Median grantPart XV$6K
Largest grantPart XV$10K

Summary of the Filing

Part I · fiscal year 2024 · Form 990-PF
Revenue
$208K
FY2024▼ -47%
Expenses
$425K
FY2024▲ +9%
Total assets
$2.9M
FY2024▲ +24%
Total liabilities
$3K
FY2024▼ -1%
Total revenue
$208K
Pt VIII · Ln 12
Total expenses
$425K
Pt IX · Ln 25
Net assets
$2.9M
Pt X · Ln 32
Total assetsPt II$2.9M
Mission & Programs · Part III

Where the work happens

3 program services account for $390K of program spending, described in the organization's own filed words · FY2023.
01

Through the wild to mild mustang event the organization provided for the veterinary care, shelter, feeding and training of wild mustangs procured from the bureau of land management.

$367Kprogram expense
02

Through the mustang mania youth event the organization provided for the veterinary care, shelter feeding and training of wild mustangs procured from the bureau of land management

$22Kprogram expense
03

C-3 swim eventthe organization provided for the veterinary care, shelter feeding and training of wild mustangs procured from the bureau of land management

$500program expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMustangs Forever INC
EINHdr · item D20-0445652
Principal addressHdr · item CKerrville, TX
WebsiteHdr · item Jhttpsmustangs4ever.org
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFAnimals (D20)
Ruling yearIRS BMFFeb 2005

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a
Whistleblower policyPt VI · Ln 13
Document retention policyPt VI · Ln 14
CEO/top-official compensation independently reviewedPt VI · Ln 15a
Family or business relationships among officers/directorsPt VI · Ln 2

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Secretarytreasurer
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
2nd Vice President
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$187K · 90%
Investment income$21K · 10%
Contributions & grants90%$187K
Investment income10%$21K
Total revenueLn 12$208K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.05 Operating & administrative $0.95
Grants & contributions paid5%$23K
Operating & administrative95%$402K
Total functional expensesLn 25$425K

Balance Sheet

Part X · end of year
CashLn 1$366K
Total assetsLn 16$2.9M
Total liabilitiesLn 26$3K
Total net assetsLn 32$2.9M
Months of cash on handcomputed10.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $2.9M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $208K
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $208K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $208K · Prior year $390K
-47%
Revenue CAGR
FY2019 $1.3M · FY2024 $208K
-31%
Net-asset trend (YoY)
End of year $2.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $208K · Expenses $425K
-104%
Liabilities-to-Assets
Total liabilities — · Total assets $2.9M
Net-asset ratio
Net assets $2.9M · Total assets $2.9M
100%
People & payroll
Highest Reported Total Compensation
Individual Marsha Olson · Reported title SECRETARYTREASURER · Highest reported compensation $0 · Total expenses $425K
0%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth -47%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$390K revenue · ⤓ 990 PDF
FY2023$201K revenue · ⤓ 990 PDF
FY2022$326K revenue · ⤓ 990 PDF
FY2021$743K revenue · ⤓ 990 PDF
FY2020$1.3M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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