Financial policies

TAX STATUS

The Equihab Foundation is a 501(c)3 non-profit organization.    Non-profit status was granted by the IRS in 2006, which may be verified at any time by searching the IRS list of valid non-profits:  List 78

The Equihab Foundation, Ltd.  is a registered Maryland corporation, based in the city of North East, Maryland.

Donations to the organization are tax-deductible, as permitted by IRS tax code.

ANNUAL FILING REPORT

Equihab has been exempt from filing the annual Form 990 (year end report for non-profit organizations).    Equihab’s 990-E filing is current with the IRS.

PAYROLL

At this time Equihab has no paid employees or Directors.  Equihab is 100% volunteer-based.

TO REQUEST TO SEE SPECIFIC FINANCIALS

Month-to-month detailed financial reports are made available at each public meeting.   Check the front page of this site for next meeting date & time.

Detailed financials are open for review by grant-makers or supporters.    Contact the Program Director to submit a request.

FINANCIAL CONFLICT OF INTEREST POLICY

Any potential conflicts of interest must be presented to the Board of Directors openly.   (An example of a potential conflict of interest is if a Board member is a farrier and also receives business from Equihab.)  The organization should not pay over fair current market value for goods/services, nor should preferential treatment be given to one vendor because the employee is a volunteer or Board member.

Assets and property improvements made to Equihab foster farms should be removable whenever possible, so when a farm discontinues fostering, assets may be removed and re-used.

NON-PROFIT CLAUSE

The assets and income of the organization shall be applied solely in furtherance of its Mission Statement and no portion shall be distributed directly or indirectly to the members of the organization except as bona fide compensation for services rendered or expenses incurred on behalf of the organisation.

DISSOLUTION CLAUSE

In the event of the organization being dissolved, the amount that remains after such dissolution and the satisfaction of all debts and liabilities shall be transferred to another registered non-profit organisation with similar purposes.      Ownership of horses already in foster/adoptive care will be offered first to any foster/adopter in good standing; otherwise, horses remaining up for adoption will transfer to another non-profit rescue or shelter organization.