Nonprofit · EIN 88-0512149
MUSTANG HERITAGE FOUNDATION
Tax-exempt · NASHVILLE, TN 37214
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $180,776 | $939,059 | -$758,283 | $1,578,000 | $39,581 | $1,538,419 |
| September 30, 2024 | 990 | $483,027 | $1,284,560 | -$801,533 | $2,250,916 | $54,250 | $2,196,666 |
| September 30, 2023 | 990 (amended) | $5,175,754 | $4,903,373 | $272,381 | $3,185,610 | $187,411 | $2,998,199 |
| September 30, 2022 | 990 (amended) | $7,060,982 | $6,017,434 | $1,043,548 | $2,872,043 | $146,225 | $2,725,818 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $64,271
- Membership dues
- $24,441
- Program service revenue
- $62,759
- Investment income
- $54,615
- Net income from sales of inventory
- -$3,009
- Other revenue
- -$869
Expenses
- Grants and similar amounts paid
- $21,180
- Other salaries and wages
- $345,044
- Salaries, compensation and benefits (total)
- $443,899
- Professional fundraising fees
- $0
- Legal fees
- $1,442
- Accounting fees
- $76,001
- Occupancy
- $5,348
- Travel
- $41,018
- Program services (functional)
- $695,219
- Management and general (functional)
- $234,659
- Fundraising (functional)
- $9,181
Balance sheet and other
- Total assets, start of year
- $2,250,916
- Total assets, end of year
- $1,578,000
- Total liabilities, end of year
- $39,581
- Net assets, end of year
- $1,538,419
- Publicly traded securities
- $1,451,745
- Net assets without donor restrictions
- $1,537,439
- Gross receipts
- $207,017
- Employees
- 12
- Volunteers
- 10
- Year formed
- 2001
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Cary Scholtes | Executive Director Officer | 40 | $86,594 | $13,787 |
| Shelly Nice | Chair Trustee or director, Officer | 4 | $0 | $0 |
| Paula Carr | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Gina McBride | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Elizabeth Blakesley | Treasurer Trustee or director | 1 | $0 | $0 |
| Jennifer Kizzar | Treasurer Trustee or director | 1 | $0 | $0 |
| Skip Ewing | Chair Trustee or director | 4 | $0 | $0 |
| Gary Holt | Chair Trustee or director | 4 | $0 | $0 |
| Del Shields | Trustee Trustee or director | 1 | $0 | $0 |
990 for the year ended September 30, 2024: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Cary Scholtes | Interim Executive Director Officer | 40 | $77,519 | $11,228 |
| Devin O Day | Chair Trustee or director, Officer | 8 | $0 | $0 |
| Gary Holt | Chair Trustee or director, Officer | 2 | $0 | $0 |
| Paula Carr | Vice Chair Trustee or director, Officer | 2 | $0 | $0 |
| Mark Bolender | Treasurer Trustee or director, Officer | 2 | $0 | $0 |
| Shelly Nice | Secretary Trustee or director, Officer | 2 | $0 | $0 |
| Tina Morris | Trustee Trustee or director | 2 | $0 | $0 |
| Jennifer Kizzar | Trustee Trustee or director | 2 | $0 | $0 |
| Fred Woehl | Trustee Trustee or director | 2 | $0 | $0 |
| BF Yeates | Trustee Trustee or director | 2 | $0 | $0 |
| Clinton Shultz | CEO Officer | 40 | $0 | $0 |
990 for the year ended September 30, 2023: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Cary Scholtes | Executive Director Officer | 40 | $66,688 | $11,245 |
| Paula Carr | Chair Trustee or director, Officer | 8 | $0 | $0 |
| Gary Holt | Vice Chair Trustee or director, Officer | 2 | $0 | $0 |
| Mark Bolender | Treasurer Trustee or director, Officer | 2 | $0 | $0 |
| BF Yeates | Trustee Trustee or director | 2 | $0 | $0 |
| Christine Hamilton | Trustee Trustee or director | 2 | $0 | $0 |
| Fred Woehl | Trustee Trustee or director | 2 | $0 | $0 |
990 for the year ended September 30, 2022: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| David Barrientes | Executive Director (Oct 2021 - Aug 2022) Officer | 40 | $52,826 | $12,498 |
| Cary Scholtes | Executive Director (Sept 2022) Officer | 40 | $0 | $6,609 |
| Paula Carr | Chair Trustee or director, Officer | 8 | $0 | $0 |
| BF Yeates | Vice Chair Trustee or director, Officer | 2 | $0 | $0 |
| Mark Bolender | Trustee Trustee or director | 2 | $0 | $0 |
| Devon ODay | Trustee Trustee or director | 2 | $0 | $0 |
| Christine Hamilton | Trustee Trustee or director | 2 | $0 | $0 |
| Gary Holt | Trustee Trustee or director | 2 | $0 | $0 |
| Janet Yeates | Technical Advisor Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2294 LEBANON PIKE, NASHVILLE, TN 37214-2423
- Principal officer (990 for 2024)
- Cary Scholtes, 2294 Lebanon Pike 106, Nashville, TN 37214
- Signed the 990
- Cary Scholtes, Interim Executive Director
- Phone
- (512) 869-3225
- Return prepared by
- MONTEMAYOR BRITTON BENDER CAREY PC
Mission
The Mustang Heritage Foundation is dedicated to promoting and supporting successful placements of America's wild mustangs and burros through innovative programs, events, and education.
Program accomplishments
- The Mustang Heritage Foundation created a new event, The Mustang Heritage Spectacular, which included our Extreme Mustang Makeover (EMM) event to showcase the trainability and versatility of wild horses. Experienced horse trainers pick up a wild horse, train the horse for 6 months, and then compete for even incentives at the Mustang Heritage Spectacular event. The trained mustangs are then available for purchase or adoption through a public auction. There was one event in June of 2025 that included 3 days of competition and 1 placement auction. 60 mustangs were placed into private care through this event. The Mustang Heritage Spectacular also included the Great American Mustang Sale, in which eight titled mustangs with more advanced training were offered to the public via public auction.Expenses $459,239 · revenue $33,893
- Expenses $103,572 · revenue $12,366
- Expenses $132,407
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 88-0512149
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2002
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Animal-related (D20)
- Assets (IRS master file)
- $1,578,000
- Income (IRS master file)
- $207,017
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $180,776 | $939,059 | $1,578,000 | XML |
| 990 | September 2024 | $483,027 | $1,284,560 | $2,250,916 | XML |
| 990 | September 2023 | $5,175,754 | $4,903,373 | $3,185,610 | XML |
| 990 | September 2022 | $7,060,982 | $6,017,434 | $2,872,043 | XML |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 88-0512149).
Questions about MUSTANG HERITAGE FOUNDATION
- What is the EIN of MUSTANG HERITAGE FOUNDATION?
- The employer identification number (EIN) of MUSTANG HERITAGE FOUNDATION is 88-0512149.
- Is MUSTANG HERITAGE FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2002.
- Are donations to MUSTANG HERITAGE FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MUSTANG HERITAGE FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MUSTANG HERITAGE FOUNDATION due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MUSTANG HERITAGE FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of MUSTANG HERITAGE FOUNDATION?
- The 990 for the year ended September 30, 2025 names Cary Scholtes.
- Who are the officers and directors of MUSTANG HERITAGE FOUNDATION?
- The 990 for the year ended September 30, 2025 lists 9 people; 1 received compensation from the organization, the highest $86,594 (Cary Scholtes, Executive Director).
- How much revenue does MUSTANG HERITAGE FOUNDATION have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $180,776, expenses of $939,059 and total assets of $1,578,000 at year end.
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