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        <BOY>228782</BOY>
        <EOY>340111</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>97321</ReconcilationRevenueExpenses>
      <ReconciliationUnrealizedInvest>197</ReconciliationUnrealizedInvest>
      <ReconcilationOtherChanges>0</ReconcilationOtherChanges>
      <MethodOfAccountingCash>X</MethodOfAccountingCash>
      <AccountantCompileOrReview>1</AccountantCompileOrReview>
      <AccountantCompileOrReviewBasis>
        <FinancialStatementSeparate>X</FinancialStatementSeparate>
      </AccountantCompileOrReviewBasis>
      <FSAudited>0</FSAudited>
      <AuditCommittee>0</AuditCommittee>
      <FederalGrantAuditRequired>0</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <LeaseholdImprovements>
        <OtherCostOrOtherBasis>22232</OtherCostOrOtherBasis>
        <Depreciation>9651</Depreciation>
        <BookValue>12581</BookValue>
      </LeaseholdImprovements>
      <Equipment>
        <OtherCostOrOtherBasis>46448</OtherCostOrOtherBasis>
        <Depreciation>38493</Depreciation>
        <BookValue>7955</BookValue>
      </Equipment>
      <OtherLandBuildings>
        <OtherCostOrOtherBasis>19448</OtherCostOrOtherBasis>
        <Depreciation>19448</Depreciation>
        <BookValue>0</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>20536</TotalOfBookValueLandBuildings>
    </IRS990ScheduleD>
    <IRS990ScheduleI documentId="RetDoc1041900001">
      <RecordsMaintained>1</RecordsMaintained>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>GREAT MEADOW FOUNDATION</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>5089 OLD TAVERN ROAD</AddressLine1>
          <City>THE PLAINS</City>
          <State>VA</State>
          <ZIPCode>20198</ZIPCode>
        </AddressUS>
        <IRCSection>501(C)3</IRCSection>
        <AmountOfCashGrant>46000</AmountOfCashGrant>
        <MethodOfValuation>FMV</MethodOfValuation>
        <PurposeOfGrant>PROVIDE FUNDS TO GREAT MEADOW FOUNDATION FOR CONSTRUCTION OF FENCING.</PurposeOfGrant>
      </RecipientTable>
      <Form990ScheduleIPartIV>
        <Identifier>PROCEDURE FOR MONITORING GRANTS IN THE U.S.:</Identifier>
        <ReturnReference>PART I, LINE 2:</ReturnReference>
        <Explanation>SCHEDULE I, PART I, LINE 2: BOARD DECISION BASED ON COMMUNITY NEEDS.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 6</ReturnReference>
        <Explanation>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.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 7A</ReturnReference>
        <Explanation>BOARD MEMBERS AND DIRECTORS ARE ELECTED AT THE CORPORATION'S ANNUAL MEETING HELD IN MARCH.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 7B</ReturnReference>
        <Explanation>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.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>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.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15B</ReturnReference>
        <Explanation>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.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>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.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>