2014-05-15T09:21:23-05:00 2013-12-31 540737372 PBMARES LLP 29 CULPEPER STREET WARRENTON VA 20186 990 2013-01-01 540943990 VIRGINIA GOLD CUP ASSOCIATION INC VIRG 5403472612 PO BOX 840 WARRENTON VA 20188 DR WILLIAM ALLISON PRESIDENT 5403472612 2014-05-12 1 DONALD W KNOTTS CPA P00208667 5403474970 2014-05-09 2013 2015-11-30 17:44:51Z DR WILLIAM ALLISON PO BOX 840 WARRENTON VA 20188 1984408 0 X WWW.VAGOLDCUP.COM X 1923 VA TO ORGANIZE AND PROMOTE STEEPLECHASE RACES IN FAUQUIER COUNTY, VIRGINIA. 11 11 4 80 0 0 0 0 1647763 1705310 5516 2912 4997 -50071 1658276 1658151 48260 1775 0 0 195213 198529 0 0 0 1317482 1457689 1560955 1657993 97321 158 340111 359574 29575 53996 310536 305578 X THE VIRGINIA GOLD CUP ASSOCIATION WAS ORGANIZED IN 1922 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. 0 0 1355705 1717735 THE ORGANIZATION ORGANIZES AND PROMOTES TWO ANNUAL STEEPLECHASE RACES IN FAUQUIER COUNTY, VIRGINIA 1775 1775 CONTRIBUTIONS TO LOCAL NON-PROFIT ORGANIZATIONS 1357480 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 32 1 1 4 1 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 0 0 0 1 0 1 0 X ACCOUNTANT 5403472612 90 MAIN STREET WARRENTON VA 20186 X WILLIAM ALLISON PRESIDENT 15.00 X X 0 0 0 ERNEST M OARE VICE PRES. 0.00 X X 0 0 0 WAYNE EASTHAM TREASURER 2.00 X X 0 0 0 MARSHALL D DOELLER SECRETARY 1.00 X X 0 0 0 LANGHORNE BOND BOARD MEMBER 0.00 X X 0 0 0 MARGARET LITTLETON BOARD MEMBER 0.00 X X 0 0 0 WILLIAM G PRIME BOARD MEMBER 0.00 X X 0 0 0 RICK GERHARDT BOARD MEMBER 0.00 X X 0 0 0 DON YOVANOVICH BOARD MEMBER 0.00 X X 0 0 0 ALFRED GRIFFIN BOARD MEMBER 0.00 X X 0 0 0 CHARLES SEILHEIMER BOARD MEMBER 0.00 X X 0 0 0 0 0 0 0 0 0 0 0 VIRGINIA GOLD CUP (SPR 711210 1284544 1284544 INTERNATIONAL GOLD CUP 711210 420766 420766 1705310 7768 7768 194212 199068 -4856 -4856 -4856 42051 104547 -62496 -62496 35067 22642 12425 12425 1658151 1717735 0 -59584 1775 1775 159333 159333 5932 5932 19901 19901 13363 13363 25490 25490 11926 11926 12875 12875 6047 6047 34903 34903 2993 2993 1108 1108 9635 9635 22269 22269 DIRECT RACE EXPENSES 880560 880560 WINNINGS PAID 335000 335000 PROMOTIONS FOR RACES 89019 89019 OTHER RACE EXPENSES 25864 25864 1657993 1357480 300513 0 130827 52574 60949 57084 4950 7000 89999 71913 20536 18086 122349 123352 100978 500 500 340111 359574 14962 15646 0 14613 38350 29575 53996 X 310536 305578 310536 305578 340111 359574 158 -5116 0 X 1 X 0 0 0 22232 10920 11312 48319 41545 6774 19448 19448 0 18086 42051 12139 92408 0 42051 12139 92408 104547 -62496 VA 1 0 1 0 1.00000 BARBARA SHANNON 90 WEST MAIN STREET WARRENTON VA 20186 0 0 LOSS FROM GAMING ACTIVITIES: THE ORGANIZATION ESTABLISHED PARI-MUTUEL BETTING FOR ITS STEEPLECHASE RACES BEGINNING WITH THE 2013 VIRGINIA GOLD CUP RACES HELD IN MAY. SIGNIFICANT COSTS WERE INCURRED FOR THE INITIAL SET UP OF LICENSES, PERMITS, RENTAL OF EQUIPMENT AND ADDITIONAL SECURITY COSTS REQUIRED BY HORSE RACING REGULATIONS. THE ORGANIZATION ANTICIPATES THAT REVENUES FROM WAGERING ACTIVITIES WILL INCREASE AND COSTS WILL STABILIZE ALLOWING FOR REVENUES IN EXCESS OF EXPENSES IN FUTURE EVENTS. THE ORGANIZATION BELIEVES THAT THE AVAILABILITY OF WAGERING WILL ATTRACT MORE GUESTS TO RACE EVENTS THUS INCREASING REVENUES AND ALLOWING FOR GREATER OPPORTUNITY FOR GRANTS AND SUPPORT TO THE COMMUNITY. 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 11 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.