VIRGINIA GOLD CUP ASSOCIATION INC: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- VIRGINIA GOLD CUP ASSOCIATION INC (EIN 54-0943990)
- Tax period
- 2018-01-01 to 2018-12-31
- Filed
- 2019-07-29
- IRS object ID
- 201932109349301138
- Schema version
- 2018v3.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2019-07-29T14:40:19-05:00 | ReturnTs |
| Tax Period End | 2018-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 540737372 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PBMARES LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 29 CULPEPER STREET | AddressLine1Txt |
| City | WARRENTON | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 20186 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 540943990 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIRGINIA GOLD CUP ASSOCIATION INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | VIRG | BusinessNameControlTxt |
| Phone | 5403472612 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 840 | AddressLine1Txt |
| City | WARRENTON | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 20188 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DR WILLIAM ALLISON | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 5403472612 | PhoneNum |
| Signature | 2019-07-03 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | DONALD W KNOTTS CPA | PreparerPersonNm |
| PTIN | P00208667 | PTIN |
| Phone | 5403474970 | PhoneNum |
| Preparation | 2019-07-03 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 209.10.80.132 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2019-07-03 | IPDt |
| IP Tm | 14:31:52 | IPTm |
| IP Timezone | ED | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 4F8654F4A8416ECB2D738CD0B855FAF8D16A33FB | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 2FCD8E10CD88535A8F9F46B3659E26A42A06351B | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2019-02-21 02:37:17Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DR WILLIAM ALLISON | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 840 | AddressLine1Txt |
| City | WARRENTON | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 20188 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $2,459,472 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.VAGOLDCUP.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1923 | FormationYr |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Activity Or Mission | TO ORGANIZE AND PROMOTE STEEPLECHASE RACES IN FAUQUIER COUNTY, VIRGINIA. | ActivityOrMissionDesc |
| Voting Members Governing Body | 14 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 14 | VotingMembersIndependentCnt |
| Total Employee | 5 | TotalEmployeeCnt |
| Total Volunteers | 80 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $2,404,937 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $2,194,529 | CYProgramServiceRevenueAmt |
| PY Investment Income | $16,187 | PYInvestmentIncomeAmt |
| CY Investment Income | $708 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$76,380 | PYOtherRevenueAmt |
| CY Other Revenue | -$73,256 | CYOtherRevenueAmt |
| PY Total Revenue | $2,344,744 | PYTotalRevenueAmt |
| CY Total Revenue | $2,121,981 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $8,810 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $6,900 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $191,881 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $201,946 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,150,138 | PYOtherExpensesAmt |
| CY Other Expenses | $2,074,110 | CYOtherExpensesAmt |
| PY Total Expenses | $2,350,829 | PYTotalExpensesAmt |
| CY Total Expenses | $2,282,956 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$6,085 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$160,975 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $326,616 | TotalAssetsBOYAmt |
| Total Assets EOY | $186,869 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $214,251 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $242,385 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $112,365 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$55,516 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE VIRGINIA GOLD CUP ASSOCIATION WAS ORGANIZED IN 1923 TO STIMULATE INTEREST IN AND TO PROMOTE STEEPLECHASE RACING IN VIRGINIA. THE ASSOCIATION STRIVES TO PROVIDE AN ENVIRONMENT FOR SOCIAL RECREATION, WHERE OBSERVERS CAN ENJOY THE ENTERTAINMENT OF STEEPLECHASE RACING. VGCA ENCOURAGES SPORTSMANSHIP AND GOOD FELLOWSHIP AMONG THOSE PERSONS PARTICIPATING IN THE SPORT. FURTHERMORE, THE ASSOCIATION IS DEDICATED TO MAINTAINING A FACILITY FOR HOLDING STEEPLECHASE RACES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $1,983,719 | ExpenseAmt |
| Revenue | $2,207,540 | RevenueAmt |
| Desc | THE ASSOCIATION ORGANIZES AND PROMOTES TWO ANNUAL STEEPLECHASE RACES IN FAUQUIER COUNTY, VIRGINIA | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $6,900 | ExpenseAmt |
| Grant | $6,900 | GrantAmt |
| Desc | CONTRIBUTIONS TO LOCAL NON-PROFIT ORGANIZATIONS | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $1,990,619 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | Yes (1) | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 52 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 5 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 14 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 14 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | 0 | ConflictOfInterestPolicyInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BARBARA SHANNON | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5403472612 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 90 WEST MAIN STREET | AddressLine1Txt |
| City | WARRENTON | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 20186 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| WILLIAM ALLISON | ||||||
| PRESIDENT | 15.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| ALFRED GRIFFIN | ||||||
| VICE PRESIDENT | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| WAYNE EASTHAM | ||||||
| TREASURER | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| MARSHALL D DOELLER | ||||||
| SECRETARY | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| LANGHORNE BOND | ||||||
| BOARD MEMBER | 0.20 | Yes (X) | $0 | $0 | $0 | |
| MARGARET LITTLETON | ||||||
| BOARD MEMBER | 0.20 | Yes (X) | $0 | $0 | $0 | |
| WILLIAM G PRIME | ||||||
| BOARD MEMBER | 0.20 | Yes (X) | $0 | $0 | $0 | |
| DON YOVANOVICH | ||||||
| BOARD MEMBER | 0.20 | Yes (X) | $0 | $0 | $0 | |
| ERNEST M OARE | ||||||
| BOARD MEMBER | 0.20 | Yes (X) | $0 | $0 | $0 | |
| CHARLES SEILHEIMER | ||||||
| BOARD MEMBER | 0.20 | Yes (X) | $0 | $0 | $0 | |
| WILLIAM O'KEEFE | ||||||
| BOARD MEMBER | 0.20 | Yes (X) | $0 | $0 | $0 | |
| JEFF LEHEW | ||||||
| BOARD MEMBER | 0.20 | Yes (X) | $0 | $0 | $0 | |
| RICHARD WALLACH | ||||||
| BOARD MEMBER | 0.20 | Yes (X) | $0 | $0 | $0 | |
| RICK GERHARDT | ||||||
| BOARD MEMBER | 0.20 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| VIRGINIA GOLD CUP - SP | 711210 | $1,449,478 | $1,449,478 |
| INTERNATIONAL GOLD CUP | 711210 | $745,051 | $745,051 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $2,194,529 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,506 | TotalRevenueColumnAmt |
| Exclusion | $7,506 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $177,757 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $184,555 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$6,798 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$6,798 | TotalRevenueColumnAmt |
| Exclusion | -$6,798 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gaming Gross Income | $57,637 | GamingGrossIncomeAmt |
| Gaming Direct Expenses | $143,904 | GamingDirectExpensesAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$86,267 | TotalRevenueColumnAmt |
| Exclusion | -$86,267 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $22,043 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $9,032 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,011 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $13,011 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,121,981 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,207,540 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | -$85,559 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,900 | TotalAmt |
| Program Services | $6,900 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $163,838 | TotalAmt |
| Management And General | $163,838 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,803 | TotalAmt |
| Management And General | $4,803 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,934 | TotalAmt |
| Management And General | $19,934 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,371 | TotalAmt |
| Management And General | $13,371 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,248 | TotalAmt |
| Management And General | $1,248 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,748 | TotalAmt |
| Management And General | $12,748 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,745 | TotalAmt |
| Management And General | $12,745 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,836 | TotalAmt |
| Management And General | $4,836 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,537 | TotalAmt |
| Management And General | $35,537 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,757 | TotalAmt |
| Program Services | $5,757 | ProgramServicesAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $846 | TotalAmt |
| Management And General | $846 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,431 | TotalAmt |
| Management And General | $22,431 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $34,173 | TotalAmt |
| Program Services | $34,173 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| DIRECT RACE EXPENSES | $1,037,192 | $1,037,192 |
| WINNINGS PAID | $795,000 | $795,000 |
| PROMOTIONS FOR RACES | $89,367 | $89,367 |
| OTHER RACE EXPENSES | $22,230 | $22,230 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,282,956 | TotalAmt |
| Program Services | $1,990,619 | ProgramServicesAmt |
| Management And General | $292,337 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $54,913 | BOYAmt |
| EOY | $38,435 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $53,620 | BOYAmt |
| EOY | $53,046 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,500 | BOYAmt |
| EOY | $10,000 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,845 | BOYAmt |
| EOY | $2,845 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $83,818 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $76,608 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,701 | BOYAmt |
| EOY | $7,210 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $176,122 | BOYAmt |
| EOY | $70,358 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,415 | BOYAmt |
| EOY | $4,475 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $500 | BOYAmt |
| EOY | $500 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $326,616 | BOYAmt |
| EOY | $186,869 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,851 | BOYAmt |
| EOY | $22,885 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $400 | BOYAmt |
| EOY | $19,500 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $200,000 | BOYAmt |
| EOY | $200,000 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $214,251 | BOYAmt |
| EOY | $242,385 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $112,365 | BOYAmt |
| EOY | -$55,516 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $112,365 | BOYAmt |
| EOY | -$55,516 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $326,616 | BOYAmt |
| EOY | $186,869 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$160,975 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$6,906 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | Yes (1) | AccountantCompileOrReviewInd |
Acct Compile Or Review Basis AcctCompileOrReviewBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| FS Audited | 0 | FSAuditedInd |
| Audit Committee | 0 | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $22,232 | OtherCostOrOtherBasisAmt |
| Depreciation | $17,264 | DepreciationAmt |
| Book Value | $4,968 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $42,138 | OtherCostOrOtherBasisAmt |
| Depreciation | $39,896 | DepreciationAmt |
| Book Value | $2,242 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $19,448 | OtherCostOrOtherBasisAmt |
| Depreciation | $19,448 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $7,210 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE ASSOCIATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501 (C) (4) OF THE INTERNAL REVENUE CODE. THE ASSOCIATION HAS ADOPTED THE PROVISIONS OF ACCOUNTING FOR UNCERTAINTY IN INCOME TAX POSITIONS AS REQUIRED BY THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION; HOWEVER, MANAGEMENT DOES NOT BELIEVE IT IS EXPOSED TO ANY SUCH POSITIONS AS THEY ARE DEFINED IN THIS GUIDANCE. THE ASSOCIATION FILES FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, ANNUALLY WITH THE UNITED STATES DEPARTMENT OF TREASURY. SUCH RETURNS ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES, GENERALLY FOR A PERIOD OF THREE YEARS FROM THE DATE THE RETURNS ARE FILED. | ExplanationTxt |
Schedule G IRS990ScheduleG
Gaming Information GamingInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Revenue Other Gaming | $57,637 | GrossRevenueOtherGamingAmt |
| Cash Prizes Other Gaming | $15,742 | CashPrizesOtherGamingAmt |
| Rent Fclty Costs Other Gaming | $128,162 | RentFcltyCostsOtherGamingAmt |
| Volunteer Labor Other Gaming | 0 | VolunteerLaborOtherGamingInd |
| Gross Revenue Total Gaming | $57,637 | GrossRevenueTotalGamingAmt |
| Cash Prizes Total Gaming | $15,742 | CashPrizesTotalGamingAmt |
| Rent Fclty Costs Total Gaming | $128,162 | RentFcltyCostsTotalGamingAmt |
| Direct Expense Summary Gaming | $143,904 | DirectExpenseSummaryGamingAmt |
| Net Gaming Income Summary | -$86,267 | NetGamingIncomeSummaryAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| States Where Gaming Conducted | VA | StatesWhereGamingConductedCd |
| Licensed | Yes (1) | LicensedInd |
| License Suspended Etc | 0 | LicenseSuspendedEtcInd |
| Gaming With Nonmembers | Yes (1) | GamingWithNonmembersInd |
| Member Of Other Entity | 0 | MemberOfOtherEntityInd |
| Gaming Other Facility | 1.00000 | GamingOtherFacilityPct |
| Individual With Books | BARBARA SHANNON | IndividualWithBooksNm |
Persons With Books US Address PersonsWithBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 90 WEST MAIN STREET | AddressLine1Txt |
| City | WARRENTON | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 20186 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct With3rd Prty For Game Rev | Yes (1) | CntrctWith3rdPrtyForGameRevInd |
| Gaming Revenue Received By Org | $57,637 | GamingRevenueReceivedByOrgAmt |
| Gaming Revenue Rtn By3 Prty | $0 | GamingRevenueRtnBy3PrtyAmt |
Third Party Business Name ThirdPartyBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UNITED TOTE | BusinessNameLine1Txt |
Third Party US Address ThirdPartyUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 600 N HURTSBOURNE PKY SUITE 400 | AddressLine1Txt |
| City | LOUISVILLE | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40222 | ZIPCd |
Gaming Manager Business Name GamingManagerBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UNITED TOTE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gaming Manager Compensation | $69,414 | GamingManagerCompensationAmt |
| Gaming Manager Services Prov | EQUPIMENT AND STAFF TO RUN PARIMUTUEL WAGERING DURING SPRING AND FALL RACE | GamingManagerServicesProvTxt |
| Gaming Manager Is Ind Cntrct | Yes (X) | GamingManagerIsIndCntrctInd |
| Charitable Distribution Rqr | 0 | CharitableDistributionRqrInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERSHIP. ONE AUTOMATICALLY BECOMES A MEMBER BY PURCHASING A TICKET TO ONE OF THE RACES. AT THE TIME OF TICKET PURCHASE THE BUYER IS PLACED ON THE MAILING LIST. THERE ARE NO ANNUAL DUES FOR MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | BOARD MEMBERS AND DIRECTORS ARE ELECTED AT THE CORPORATION'S ANNUAL MEETING HELD IN MARCH. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE ACTIONS OF THE GOVERNING BOARD ARE SUBJECT TO APPROVAL BY THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS APPROVES COMPENSATION FOR THE EXECUTIVE DIRECTOR AND ELECTS OFFICERS OF THE ORGANIZATION. |
| FORM 990, PART VI, SECTION B, LINE 11B | TO DATE THERE HAS NOT BEEN A FORMAL POLICY TO REVIEW FORM 990 PRIOR TO FILING. THE 990 IS PREPARED BY THE ASSOCIATION'S INDEPENDENT CPA FROM THE SAME INFORMATION THAT IS USED TO PREPARE COMPILED FINANCIAL STATEMENTS. THE COMPILED FINANCIAL STATEMENTS ARE REVIEWED AT A BOARD MEETING WHICH IS OPEN TO ALL INDIVIDUALS ASSOCIATED WITH THE VIRGINIA GOLD CUP ASSOCIATION, INC. |
| FORM 990, PART VI, SECTION B, LINE 15B | OFFICERS AND BOARD MEMBERS DO NOT RECEIVE COMPENSATION OF ANY KIND. STAFF SALARIES ARE DETERMINED BY THE PRESIDENT IN CONSULTATION WITH THE FINANCE COMMITTEE BASED ON JOB RESPONSIBILITIES AND CURRENT MARKET CONDITIONS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND FORM 990 AVAILABLE FOR INSPECTION DURING NORMAL BUSINESS HOURS AT THEIR OFFICES AT 90 MAIN STREET, WARRENTON, VIRGINIA. |
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