Thorncroft Equestrian Center

Analysis

Thorncroft Equestrian Center is a registered charity in United States, based in Malvern, PA. It received its IRS tax-exemption ruling in April 1983, 43 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Thorncroft Equestrian Center reported income of $1.5m and spending of $1.4m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.4m to $1.5m (-37%), an average of -11% a year. The sharpest change came in the year to December 2020, when income dropped by 45%. Over the whole period it spent 70% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Thorncroft Equestrian Center sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within PA. Charities of a similar size with the same main cause include Armstrong Community Music School ($1.5m), Kundalini Research Institute ($1.5m) and Northern Nevada Building and Construction Trade Council Develop ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 48% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $83k (5.9% of expenses). Other salaries and wages came to $434k. At year end it held assets of $14.7m against liabilities of $177k, net assets of $14.6m. It reported 46 employees.