Financial Disclosure
The Board of Spring Farm is strongly committed to ensuring prudent use of every contribution received. Our pledge to donors is that their generous contributions are used to fund our programs rather than administrative and fundraising expenses, to the greatest extent possible. Spring Farm CARES appreciates every contribution received, and recognizes that without the support of our donors, we would be unable to fulfill our mission.
Spring Farm CARES is a 501(c)3 not-for-profit organization founded in 1991 by Bonnie Jones Reynolds and Dawn E. Hayman. Bonnie donated all of her family’s dairy farm property (250+ acres plus structures) to the non-profit sanctuary.
In 1999, Spring Farm CARES received an unexpected $16.8 million bequest. The funds from this bequest are restricted and may not be spent. Only the interest and dividend income from this bequest may be used to support operations, thus preserving the original amount.
In 2020, Spring Farm CARES received a donor restricted contribution of $1,385,640. This contribution, per donor restriction, may not be spent and only the interest and dividend income from it may be used to support operations.
Financial Management Philosophy
Nearly all of the animals residing at Spring Farm are permanent residents due to their circumstances. We need to ensure that adequate financial resources will be available for their care throughout their lives. Cats may live as long as twenty years, horses sometimes into their late thirties, and donkeys to the age of 40 or 50. Our financial planning must be very thoughtful and long term. We are now in our 30th year and are making plans and provisions for the next 30 years and beyond.
Spring Farm CARES has no plans to expand operations or facilities. Our focus is very simply on ensuring financial stability that will allow for the current and future care of animals that join our farm family.
Investment Strategy
Spring Farm CARES utilizes a buy and hold investment strategy. Specifically, high quality equity investments (stocks) that historically have paid dividends are the primary holdings. Spring Farm CARES management has a long and successful relationship with the investment advisor and investment company that hold the account. Management is active with the investment advisor in strategic decisions regarding all investment transactions and their impact on investment income for operating purposes.
Conservation and growth of our investments is of utmost importance to assure the long-term financial viability of the organization. It will allow us to fulfill our responsibilities to the animals in our care, to the public that puts trust in our longevity, and to the natural environment being restored in our Nature Sanctuary.
Why We Need Your Support
As a charitable organization, we derive our support exclusively from public donations, bequests, occasional grants from foundations, and from interest and dividend income. Our restricted funds may not be used for operating purposes. We do not receive any governmental support at local, state or federal levels. Our annual investment income is approximately $1.2 million and our annual expenses are approximately $1.5 million or above. Every year, Spring Farm CARES depends on the generosity of its donors for help in covering the shortfall between our investment income and our ever-growing annual expenses.
Our Financial Data
Please use the links below to see our IRS Form 990 and our Audited Financial Statements.
Financial Statements
2020 Financial Statement  2021 Financial Statement 2022 Financial Statement  2023 Financial Statement
IRS 990 Forms
2020 IRS 990 Form 2021 IRS 990 Form 2022 IRS 990 Form  2023 IRS 990 Form