Spirits Promise Equine Rescue Corp

Tax-deductible

Riverhead, NY501(c)(3)AnimalsEIN 45-3660621Revenue $434K in FY2024

On file with the IRSspiritspromiserescue.org2746 Sound Ave, 11901-1113 · Riverhead, NYTax-exempt since Oct 2012Publicly supported charity — 170(b)(1)(A)(vi)

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Spirits Promise Equine Rescue Corp is an organization that exists to Rescue horses and other animals from poor living conditions, slaughter houses and from people who can no longer care for their animals

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Run by 50 volunteers and 19 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $41K a year · 7% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$61K
to officers and key staff · 13% of spending
Top officer’s pay higher than 67% of similar orgs
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $15K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$57K
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 5 voting members
Looks good: 3 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$434K
-14% vs prior year
Spent
$472K
To programs
79%
Net assets
$211K
By yearFY2020–FY2024
Revenue
$434K
FY2024▼ -14%
Tap a bar for its year
Revenue by fiscal year
FY2020$460K
FY2021$661K
FY2022$733K
FY2023$504K
FY2024$434K
Expenses
$472K
FY2024▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2020$436K
FY2021$628K
FY2022$548K
FY2023$505K
FY2024$472K
Net assets
$211K
FY2024▼ -15%
Tap a bar for its year
Net assets by fiscal year
FY2020$32K
FY2021$66K
FY2022$250K
FY2023$249K
FY2024$211K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2012.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $373K Management & general 17% · $81K Fundraising 4% · $19K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990; $61K paid to officers and key staff.

Part VII, Section A · reportable compensation
Board President
$59,218Pt VII · Sec A
Executive Director
$1,600Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Jessica Siegel’s $59K as Board President is at the 67th percentile of top reported officer pay among 1220 $100K–1M animals nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jessica Siegel$59,218————
Jessie Siegel———$46,540—
Sherry Turpin———$18,720$12,600
Marisa Striano$1,600$800$4,600$1,600—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Rescues horses and other animals from neglect, slaughter, and owners who can no longer care for them.

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Provided by the organization

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1 program · $373K · in their own filed words · FY2024
01

To provide the required needs of rescued horses. Facility Maintenance and Horse Rescue are the main expenses.

$373Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 2 funders$15K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$434K
Ln 12
Gifts and grantsLn 1h$368K
Other incomeLn 4–11$35K
Fees for servicesLn 2g$32K
Money outPt IX
$472K
Ln 25
Programscol B$373K
Managementcol C$81K
Fundraisingcol D$19K
Owns and owesPt X
$211K
net assets · Ln 32
Cash and savingsLn 1–2$21K
Total assetsLn 16$268K
LiabilitiesLn 26$57K
PeoplePt VI, VII
5
listed · VII A
PaidVII A2
Voting boardVI 1a5
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$368K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$32K
Other incomeLn 4–11$35K
Total revenueLn 12$434K
Assets in detailPt X, end of year
CashLn 1$21K
Cash and savings togetherLn 1–2$21K
Land, buildings, equipmentLn 10c$244K
Total assetsLn 16$268K
LiabilitiesLn 26$57K
Net assetsLn 32$211K
OperationsPt I, VI
EmployeesI 519
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$6K$21K
Land, buildings, equipmentLn 10c$265K$244K
Total assetsLn 16$274K$268K
LiabilitiesLn 26$25K$57K
Net assetsLn 32$249K$211K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$59K$46K$9K$4K
Other salaries and wagesLn 7$97K$75K$15K$7K
Payroll taxesLn 10$12K$9K$2K$835
Accounting feesLn 11c$12K$12K
Advertising and promotionLn 12$14K$14K
Office expensesLn 13$3K$141$2K
OccupancyLn 16$69K$62K$7K
TravelLn 17$740$148$592
Conferences, conventions and meetingsLn 19$1K$1K
Depreciation, depletion and amortizationLn 22$20K$20K
InsuranceLn 23$12K$9K$3K$227
Other expenses (24a–d)Ln 24$173K$151K$16K$7K
Total functional expensesLn 25$472K$373K$81K$19K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $434K$472K−$38K$211K 990 PDF
FY2023 $504K$505K−$1K$249K 990 PDF
FY2022 $733K$548K$185K$250K 990 PDF
FY2021 $661K$628K$34K$66K 990 PDF
FY2020 $460K$436K$24K$32K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $434,489 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $394,966$367,816
I-9 Program service revenuePrior year $49,624$31,829
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $58,916$34,844
I-12 Total revenuePrior year $503,506$434,489
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $157,992$167,885
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $346,601$304,364
I-18 Total expensesPrior year $504,593$472,249
I-19 Revenue less expensesPrior year −$1,087−$37,760
Part VI · Governance 3 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $434,489 across 11 lines filed
Lines not itemized here account for $31,829 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$367,816
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$367,816
VIII-6 Net rental income or lossRelated to mission $1,877 · Unrelated business $0 · Excluded from tax $0$1,877
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $32,967$32,967
VIII-12 Total revenueRelated to mission $33,706 · Unrelated business $0 · Excluded from tax $32,967$434,489
Part IX · Statement of functional expenses $472,249 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $46,190 · Management $8,883 · Fundraising $4,145$59,218
IX-7 Other salaries and wagesPrograms $75,456 · Management $14,511 · Fundraising $6,772$96,739
IX-10 Payroll taxesPrograms $9,304 · Management $1,789 · Fundraising $835$11,928
IX-11c Accounting feesManagement $11,681$11,681
IX-12 Advertising and promotionManagement $13,694$13,694
IX-13 Office expensesPrograms $141 · Management $2,393$2,534
IX-16 OccupancyPrograms $61,846 · Management $7,367$69,213
IX-17 TravelPrograms $148 · Management $592$740
IX-19 Conferences, conventions and meetingsManagement $1,249$1,249
IX-22 Depreciation, depletion and amortizationPrograms $20,136$20,136
IX-23 InsurancePrograms $8,835 · Management $2,621 · Fundraising $227$11,683
IX-24 Other expenses (24a–d)Programs $150,558 · Management $16,124 · Fundraising $6,752$173,434
IX-25 Total functional expensesPrograms $372,614 · Management $80,904 · Fundraising $18,731$472,249
Part X · Balance sheet $268,131 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $5,788$20,600
X-3 Pledges and grants receivableStart of year $300$1,350
X-9 Prepaid expenses and deferred chargesStart of year $3,851$1,770
X-10c Land, buildings and equipment, netStart of year $264,547$244,411
X-16 Total assetsStart of year $274,486$268,131
X-17 Accounts payable and accrued expensesStart of year $25,052$18,885
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $25,337$56,742
X-27 Net assets without donor restrictionsStart of year $249,149$211,389
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $249,149$211,389
X-33 Total liabilities and net assetsStart of year $274,486$268,131
Part XI · Reconciliation of net assets $211,389 net assets at year end
XI-1 Total revenue$434,489
XI-2 Total expenses$472,249
XI-3 Revenue less expenses−$37,760
XI-4 Net assets at start of year$249,149
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$211,389

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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