BREEDERS CUP LIMITED: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- BREEDERS CUP LIMITED (EIN 13-3082904)
- Tax period
- 2012-02-01 to 2013-01-31
- Filed
- 2013-10-29
- IRS object ID
- 201323029349301137
- Schema version
- 2012v2.1
- 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) |
|---|---|---|
| Timestamp | 2013-10-29T15:00:05-05:00 | Timestamp |
| Tax Period End Date | 2013-01-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CROWE HORWATH LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 144 North Broadway | AddressLine1 |
| City | Lexington | City |
| State | KY | State |
| ZIP Code | 40507 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-02-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 133082904 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BREEDERS' CUP LIMITED | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | BREE | NameControl |
| Phone | 8592235444 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 4230 | AddressLine1 |
| City | Lexington | City |
| State | KY | State |
| ZIP Code | 40544 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | MICHAEL NEWMAN | Name |
| Title | TREASURER | Title |
| Date Signed | 2013-10-23 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Deborah K Haaker | Name |
| PTIN | P00163071 | PTIN |
| Phone | 8592526738 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
Name Of Principal Officer Business NameOfPrincipalOfficerBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CRAIG FRAVEL | BusinessNameLine1 |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2525 Harrodsburg Road | AddressLine1 |
| City | Lexington | City |
| State | KY | State |
| ZIP Code | 40504 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 47125250 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.BREEDERSCUP.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1980 | YearFormation |
| State Legal Domicile | NY | StateLegalDomicile |
| Activity Or Mission Description | TO SUPPORT BREEDERS BY PROMOTING THE GROWTH OF THE THOROUGHBRED RACING INDUSTRY AND IMPROVING BUSINESS CONDITIONS FOR BREEDERS THROUGH THE STAGING OF THE BREEDERS' CUP COMPETITION. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 13 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 12 | NbrIndependentVotingMembers |
| Total Nbr Employees | 36 | TotalNbrEmployees |
| Total Nbr Volunteers | 48 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 767666 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 40169816 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 29985 | InvestmentIncomePriorYear |
| Investment Income Current Year | 663834 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 19621 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 797651 | TotalRevenuePriorYear |
| Total Revenue Current Year | 40853271 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 100000 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 312221 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 3389274 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 377659 | OtherExpensePriorYear |
| Other Expenses Current Year | 39397692 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 689880 | TotalExpensesPriorYear |
| Total Expenses Current Year | 42886966 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 107771 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -2033695 | RevenuesLessExpensesCY |
| Total Assets BOY | 49482022 | TotalAssetsBOY |
| Total Assets EOY | 52892349 | TotalAssetsEOY |
| Total Liabilities BOY | 5813520 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 7890480 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 43668502 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 45001869 | NetAssetsOrFundBalancesEOY |
| Mission Description | TO SUPPORT BREEDERS BY PROMOTING THE GROWTH OF THE THOROUGHBRED RACING INDUSTRY AND IMPROVING BUSINESS CONDITIONS FOR BREEDERS THROUGH THE STAGING OF THE BREEDERS' CUP COMPETITION. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Description | THROUGH BREEDERS' CUP CHAMPIONSHIPS, BREEDERS' CUP CHALLENGE SERIES, YEAR ROUND STAKES PROGRAM, AND NOMINATIONS PROGRAM, BREEDERS' CUP LIMITED PROMOTES THE THOROUGHBRED INDUSTRY BY ENHANCING PUBLIC AWARENESS OF THOROUGHBRED RACING AND THE INDUSTRY IN GENERAL. TRACK PROMOTION OF BREEDERS' CUP RACES, TELEVISION, RADIO AND INTERNET PROMOTIONS, NEWSFEEDS, PRESS CONFERENCES, PRESS RELEASES, THE KENTUCKY HORSE PARK EXHIBIT, AND OTHER PROMOTIONAL CAMPAIGNS ARE ALL USED TO INCREASE PUBLIC AWARENESS AND PROMOTE THE THOROUGHBRED INDUSTRY. MORE THAN 89,000 SPECTATORS ATTENDED THE 2012 BREEDERS' CUP CHAMPIONSHIPS WHICH GENERATED OVER $25 MILLION IN REVENUES FOR THE ORGANIZATION. THE FINANCIAL SUCCESS OF THE 2012 CHAMPIONSHIPS ENABLED THE ORGANIZATION TO FUND NEARLY $29 MILLION IN PURSES AND AWARDS FOR THE YEAR. | Description |
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | true | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | true | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | false | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | true | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | true | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | true | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | true | RelatedEntity |
| Related Org Controlled Entity | true | RelatedOrgControlledEntity |
| Transaction Related Entity | true | TransactionRelatedEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 159 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 36 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 13 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 12 | NumberIndependentVotingMembers |
| Family Or Business Relationship | true | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | true | MembersOrStockholders |
| Election Of Board Members | true | ElectionOfBoardMembers |
| Decisions Subject To Approval | true | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | KY | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Michael Newman | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 8592235444 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2525 HARRODSBURG ROAD | AddressLine1 |
| City | LEXINGTON | City |
| State | KY | State |
| ZIP Code | 40504 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (26 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| CRAIG FRAVEL | ||||||||
| PRESIDENT/CEO | 40.00 | X | X | 595369 | 0 | 39093 | ||
| JERRY CRAWFORD | ||||||||
| VICE CHAIRMAN | 2.00 | X | X | 0 | 0 | 0 | ||
| ROBERT M WATT | ||||||||
| SECRETARY | 2.00 | X | X | 0 | 0 | 0 | ||
| ANTONY BECK | ||||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |||
| BARRY WEISBORD | ||||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |||
| BRET JONES | ||||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |||
| CLEM MURPHY | ||||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |||
| DAVID WILLMON | ||||||||
| DIRECTOR (PARTIAL YEAR) | 2.00 | X | 0 | 0 | 0 | |||
| HELEN C ALEXANDER | ||||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |||
| OLIVER TAIT | ||||||||
| DIRECTOR (PARTIAL YEAR) | 2.00 | X | 0 | 0 | 0 | |||
| RICHARD T SANTULLI | ||||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |||
| ROBERT T MANFUSO | ||||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |||
| ROY JACKSON | ||||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |||
| SATISH K SANAN | ||||||||
| DIRECTOR (PARTIAL YEAR) | 2.00 | X | 0 | 0 | 0 | |||
| TOM LUDT | ||||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |||
| WILLIAM S FARISH JR | ||||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |||
| MICHAEL NEWMAN | ||||||||
| TREASURER | 40.00 | X | 108284 | 0 | 29503 | |||
| ROBERT N ELLISTON | ||||||||
| EXECUTIVE VP & COO | 40.00 | X | 182240 | 0 | 24349 | |||
| CARTER R CARNEGIE | ||||||||
| SR. VP SALES | 40.00 | 468255 | 0 | 16452 | X | |||
| DORA J DELGADO | ||||||||
| SR. V.P. RACING & NOMINATIONS | 40.00 | 245835 | 0 | 39093 | X | |||
| PETER ROTONDO | ||||||||
| V.P. MEDIA & ENTERTAINMENT | 40.00 | 216036 | 0 | 15097 | X | |||
| HEATHER HIGGINS | ||||||||
| V.P. CORPORATE PARTNERSHIPS | 40.00 | 124261 | 0 | 15426 | X | |||
| JUSTIN N MCDONALD | ||||||||
| SR. DIRECTOR MARKETING & DIGITAL MEDIA | 40.00 | 130227 | 0 | 7150 | X | |||
| MICHAEL SPARKS | ||||||||
| V.P. INFORMATION TECHNOLOGY | 40.00 | 136614 | 0 | 31491 | X | |||
| STEFANIE A PALMIERI | ||||||||
| SR. DIRECTOR SPECIAL EVENTS & COMMUNITY RELATIONS | 40.00 | 110114 | 0 | 14439 | X | |||
| TIM SCHRAM | ||||||||
| V.P. FINANCE & HR | 40.00 | 122338 | 0 | 15279 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 2439573 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 247372 | TotalOtherCompensation |
| Number Individuals GT100 K | 11 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (2 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| KEN KIRCHNER | |||||
| 2197 LAKESIDE DRIVE | LEXINGTON | KY | 40502 | SIMULCAST CONSULTING | 114999 |
| MORGAN STANLEY | |||||
| 1585 BROADWAY | NEW YORK | NY | 10036 | INVESTMENT MANAGER | 110000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 2 | NumberOfContractorsGT100K |
| Total Contributions | 0 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| NOMINATIONS FEES | 900099 | 14340743 | 14340743 |
| RIGHTS & ROYALTIES | 900099 | 2208579 | 2208579 |
| SIMULCAST FEES & HOST TRACK CONTRIBUTIONS | 900099 | 15310494 | 15310494 |
| ENTRY FEES | 900099 | 8310000 | 8310000 |
| 0 |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 40169816 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 384646 | TotalRevenueColumn |
| Exclusion | $384,646 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 0 | Real |
| Personal | 0 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 6551167 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 6271979 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 279188 | Securities |
| Other | 0 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 279188 | TotalRevenueColumn |
| Exclusion | $279,188 | ExclusionAmount |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| OTHER REVENUE | 900099 | 19621 | 19621 |
| 0 | |||
| 0 |
Miscellaneous Revenue MiscellaneousRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 19621 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 40853271 | TotalRevenueColumn |
| Related Or Exempt Function Income | 40189437 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $663,834 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 100000 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2549367 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 264550 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 144890 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 285465 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 145002 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 164686 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 50073 | Total |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 24000 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 228369 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 235524 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4276528 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 74352 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 134458 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 578926 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 521811 | Total |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 49787 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 39531 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 128940 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 107913 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PURSE EXPENSES | 29077970 |
| TELEVISION EXPENSES | 2062768 |
| DIRECT EVENT OPERATIONS | 1242056 |
| MEMBERSHIP DUES TO NTRA | 400000 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 42886966 | Total |
| Program Services | 0 | ProgramServices |
| Management And General | 0 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 604530 | BOY |
| EOY | 1521447 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2804948 | BOY |
| EOY | 2043772 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 171747 | BOY |
| EOY | 183949 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 959828 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 690851 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 147536 | BOY |
| EOY | 268977 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 32767807 | BOY |
| EOY | 32607980 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7758802 | BOY |
| EOY | 10825028 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9018 | BOY |
| EOY | 7218 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5217634 | BOY |
| EOY | 5433978 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 49482022 | BOY |
| EOY | 52892349 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 755925 | BOY |
| EOY | 986047 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5040855 | BOY |
| EOY | 6889793 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16740 | BOY |
| EOY | 14640 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5813520 | BOY |
| EOY | 7890480 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 43603502 | BOY |
| EOY | 44936869 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 65000 | BOY |
| EOY | 65000 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 43668502 | BOY |
| EOY | 45001869 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 49482022 | BOY |
| EOY | 52892349 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | -2033695 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | 3367062 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | 0 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | true | AuditCommittee |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | 0 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | 0 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 42329 | OtherCostOrOtherBasis |
| Depreciation | 40801 | Depreciation |
| Book Value | 1528 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 917499 | OtherCostOrOtherBasis |
| Depreciation | 650050 | Depreciation |
| Book Value | 267449 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | 0 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 268977 | TotalOfBookValueLandBuildings |
Financial Derivatives FinancialDerivatives
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | 6875043 | BookValue |
| Method Of Valuation | F | MethodOfValuation |
Closely Held Equity Interests CloselyHeldEquityInterests
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | 0 | BookValue |
| Method Of Valuation | F | MethodOfValuation |
Other Securities OtherSecurities (2 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| VENTURE CAPITAL | 1449985 | F |
| INVESTMENT IN BCL PROPERTIES | 2500000 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 10825028 | TotalOfBookValueSecurities |
Other Assets OtherAssets (2 entries)
| DescriptionDescription | Book ValueBookValue |
|---|---|
| NON QUALIFIED PENSION INVESTMENTS | 91777 |
| INTERCOMPANY ACCOUNTS RECEIVABLE | 5342201 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 5433978 | TotalBookValueOtherAssets |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | DEFERRED COMPENSATION PAYABLE | Description |
| Amount | $14,640 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 14640 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
| Tot Revenue Etc Audited Fincl Stmt | 43991964 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 3367062 | NetUnrealizedGainsInvestments |
| Other Revenues | 0 | OtherRevenues |
| Revenue Not Rptd F990 | 3367062 | RevenueNotRptdF990 |
| Revenue Subtotal | 40624902 | RevenueSubtotal |
| Investment Expenses Not Included | 228369 | InvestmentExpensesNotIncluded |
| Other Revenues Not Included | 0 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 228369 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 40853271 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 42658597 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 0 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 42658597 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 228369 | InvestmentExpensesNotIncluded2 |
| Other Expenses Not Included | 0 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 228369 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 42886966 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | FIN 48 (ASC 740) footnote | Identifier |
| Return Reference | Schedule D, Part X, Line 2 | ReturnReference |
| Explanation | IN RESPECT TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. THE COMPANY'S FOR-PROFIT SUBSIDIARY IS SUBJECT TO U.S. FEDERAL INCOME TAX AS WELL AS STATE INCOME TAXES. THE COMPANY IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR YEARS BEFORE DE¬CEMBER 31, 2009. THE COMPANY DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE OVER THE NEXT 12 MONTHS (SEE NOTE 6). THE COMPANY RECOGNIZES INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE COMPANY DID NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST AND PENALTIES AT JANUARY 31, 2013 AND JANUARY 31, 2012. | Explanation |
Schedule F IRS990ScheduleF
Accts Actvs Out US Table AcctsActvsOutUSTable (8 entries)
| RegionRegion | Type Of Activities ConductedTypeOfActivitiesConducted | Total ExpendituresTotalExpenditures | Number Of EmployeesNumberOfEmployees | Specific Services ProvidedSpecificServicesProvided |
|---|---|---|---|---|
| CENTRAL AMERICA AND THE CARIBBEAN | INVESTMENTS | 8325000 | ||
| EUROPE (INCLUDING ICELAND AND GREENLAND) | PROGRAM SERVICES | 46000 | 2 | CONSULTING |
| EAST ASIA AND THE PACIFIC | PROGRAM SERVICES | 10000 | 1 | CONSULTING |
| EUROPE (INCLUDING ICELAND AND GREENLAND) | PROGRAM SERVICES | 69501 | ADVERTISING | |
| EUROPE (INCLUDING ICELAND AND GREENLAND) | PROGRAM SERVICES | 71322 | CONSULTING | |
| EUROPE (INCLUDING ICELAND AND GREENLAND) | PROGRAM SERVICES | 167500 | NOMINATIONS | |
| SOUTH AMERICA | PROGRAM SERVICES | 20000 | NOMINATIONS | |
| NORTH AMERICA (CANADA & MEXICO ONLY) | PROGRAM SERVICES | 10000 | NOMINATIONS |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of Employees | 3 | TotalNumberOfEmployees |
| Total Amount Spent | 8719323 | TotalAmountSpent |
| Transfer To Foreign Corp | false | TransferToForeignCorp |
| Interest In Foreign Trust | false | InterestInForeignTrust |
| Own Foreign Corp | true | OwnForeignCorp |
| Passive Foreign Invest Co | false | PassiveForeignInvestCo |
| Foreign Partnership | true | ForeignPartnership |
| Boycott Countries | false | BoycottCountries |
Form990 Schedule F Part V Form990ScheduleFPartV (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Method used to account for expenditures on organization's financial statements | Schedule F, Part I, Line 3 | CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL NORTH AMERICA (CANADA & MEXICO ONLY): ACCRUAL SOUTH AMERICA: ACCRUAL |
| Method used to account for expenditures on organization's financial statements | Schedule F, Part I, Line 3 | CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL NORTH AMERICA (CANADA & MEXICO ONLY): ACCRUAL SOUTH AMERICA: ACCRUAL |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | true | RecordsMaintained |
Recipient Table RecipientTable
Recipient Name Business RecipientNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THOROUGHBRED AFTERCARE ALLIANCE FOUNDATION INC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 821 CORPORATE DRIVE | AddressLine1 |
| City | LEXINGTON | City |
| State | KY | State |
| ZIP Code | 40503 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN Of Recipient | 454783644 | EINOfRecipient |
| IRC Section | 501(C)(3) | IRCSection |
| Amount Of Cash Grant | 100000 | AmountOfCashGrant |
| Method Of Valuation | N/A | MethodOfValuation |
| Description Of Non Cash Assistance | N/A | DescriptionOfNonCashAssistance |
| Purpose Of Grant | EQUINE FACILITY SUPPORT | PurposeOfGrant |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 1 | TotalNbrOf501C3AndGovtGrants |
| Total Nbr Of Other Organizations | 0 | TotalNbrOfOtherOrganizations |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Procedures for monitoring use of grant funds | Identifier |
| Return Reference | Schedule I, Part I, Line 2 | ReturnReference |
| Explanation | GRANTS ARE APPROVED BY THE BOARD AND ARE CONSISTENT WITH THE BREEDERS' CUP LIMITED'S MISSION TO PROVIDE THE INTEGRITY OF THE THOROUGHBRED INDUSTRY. GRAYSON JOCKEY CLUB RESEARCH FOUNDATION PROVIDES AN ANNUAL REPORT WITH A SUMMARY OF THE ORGANIZATION'S RESULTS AND ACCOMPLISHMENTS DURING THE YEAR AS WELL AS FORECAST OF THE COMING YEARS PROJECTS AND OBJECTIVES. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | true | SeverancePayment |
| Supplemental Nonqual Retire Plan | false | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (6 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CRAIG FRAVEL | ||||||||||||||
| PRESIDENT/CEO | 525000 | 0 | 50000 | 0 | 20369 | 0 | 17150 | 0 | 21943 | 0 | 634462 | 0 | 0 | 0 |
| PETER ROTONDO | ||||||||||||||
| V.P. MEDIA & ENTERTAINMENT | 185675 | 0 | 30000 | 0 | 361 | 0 | 15097 | 0 | 0 | 0 | 231133 | 0 | 0 | 0 |
| DORA J DELGADO | ||||||||||||||
| SR. V.P. RACING & NOMINATIONS | 180250 | 0 | 65000 | 0 | 585 | 0 | 17150 | 0 | 21943 | 0 | 284928 | 0 | 0 | 0 |
| MICHAEL SPARKS | ||||||||||||||
| V.P. INFORMATION TECHNOLOGY | 120650 | 0 | 15750 | 0 | 214 | 0 | 9548 | 0 | 21943 | 0 | 168105 | 0 | 0 | 0 |
| CARTER R CARNEGIE | ||||||||||||||
| SR. VP SALES | 103000 | 0 | 100000 | 0 | 265255 | 0 | 14210 | 0 | 2242 | 0 | 484707 | 0 | 0 | 0 |
| ROBERT N ELLISTON | ||||||||||||||
| EXECUTIVE VP & COO | 166666 | 0 | 0 | 0 | 15574 | 0 | 11017 | 0 | 13332 | 0 | 206589 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Severance or change-of-control payment | Identifier |
| Return Reference | Schedule J, Part I, Line 4a | ReturnReference |
| Explanation | CARTER R. CARNEGIE RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $265,255 DURING 2012. THIS AMOUNT IS INCLUDED IN OTHER COMPENSATION IN SCHEDULE J, COLUMN B(III). | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (10 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| PRIOR YEAR/CURRENT YEAR COMPARABILITY | FORM 990, PART I, LINE 9 | THE ORGANIZATION IMPLEMENTED A CHANGE IN YEAR END FROM A CALENDAR YEAR TO A FISCAL YEAR ENDING JANUARY 31, EFFECTIVE JANUARY 31, 2012. FOR TAX PURPOSES A SHORT PERIOD RETURN WAS FILED FOR YEAR OF CHANGE WHICH ACCOUNTS FOR ONE MONTH OF ACTIVITY, JANUARY 2012. THEREFORE, FOR COMPARATIVE PURPOSES, THE PRIOR YEAR COLUMN ONLY REFLECTS ACTIVITY FOR ONE MONTH WHEREAS THE CURRENT COLUMN PROVIDES A FULL FISCAL YEAR OF ACTIVITY FOR FISCAL YEAR ENDING JANUARY 31, 2013. |
| BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS | FORM 990, PART VI, LINE 2 | THE BOARD OF TRUSTEES AND DIRECTORS OF BREEDERS' CUP LIMITED CONSISTS PRIMARILY OF INDIVIDUALS INVOLVED IN MANY FACETS OF THE THOROUGHBRED INDUSTRY, INCLUDING THE BREEDING AND RACING OF THOROUGHBRED HORSES. BREEDERS' CUP LIMITED'S TRUSTEES AND DIRECTORS MAY OWN HORSES DIRECTLY OR THROUGH PARTNERSHIPS THAT ARE ELIGIBLE FOR BREEDERS' CUP PURSES OR AWARDS. CERTAIN TRUSTEES, DIRECTORS OR THEIR FARMS ARE MANAGERS WITH RESPECT TO CERTAIN STALLIONS AND FOALS THAT COLLECTIVELY GENERATE A MAJORITY OF THE STALLION AND FOAL NOMINATION FEES ON BEHALF OF BREEDERS' CUP LIMITED. |
| Classes of members or stockholders | Form 990, Part VI, Section A, Line 6 | THROUGH BREEDERS' CUP CHAMPIONSHIPS, BREEDERS' CUP CHALLENGE SERIES, YEAR ROUND STAKES PROGRAM, AND NOMINATIONS PROGRAM, BREEDERS' CUP LIMITED PROMOTES THE THOROUGHBRED INDUSTRY BY ENHANCING PUBLIC AWARENESS OF THOROUGHBRED RACING AND THE INDUSTRY IN GENERAL. TRACK PROMOTION OF BREEDERS' CUP RACES, TELEVISION, RADIO AND INTERNET PROMOTIONS, NEWSFEEDS, PRESS CONFERENCES, PRESS RELEASES, THE KENTUCKY HORSE PARK EXHIBIT, AND OTHER PROMOTIONAL CAMPAIGNS ARE ALL USED TO INCREASE PUBLIC AWARENESS AND PROMOTE THE THOROUGHBRED INDUSTRY. MORE THAN 105,000 SPECTATORS ATTENDED THE 2011 BREEDERS' CUP CHAMPIONSHIPS WHICH GENERATED OVER $27 MILLION IN REVENUES FOR THE ORGANIZATION. THE FINANCIAL SUCCESS OF THE 2011 CHAMPIONSHIPS ENABLED THE ORGANIZATION TO FUND NEARLY $28 MILLION IN PURSES AND NOMINATOR AWARDS FOR THE YEAR. |
| Members or stockholders electing members of governing body | Form 990, Part VI, Section A, Line 7a | THERE ARE 48 MEMBERS. MEMBERS HAVE THE RIGHT TO CHANGE CORPORATE BYLAWS AND TO ELECT THE GOVERNING BODY. |
| Decisions requiring approval by members or stockholders | Form 990, Part VI, Section A, Line 7b | DECISIONS REQUIRING APPROVAL BY MEMBERS INCLUDE ONLY CHANGES TO BYLAWS. |
| Review of form 990 by governing body | Form 990, Part VI, Section B, Line 11b | REVIEWED BY SENIOR FINANCIAL MANAGERS, FINANCE & AUDIT COMMITTEE, AND THE GOVERNING BODY DURING OCTOBER 2013. AFTER THEIR REVIEW, A FINAL DRAFT OF THE FORM 990 IS DISTRIBUTED VIA EMAIL TO THE ENTIRE BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE IRS. THE REVIEW ALSO INCLUDED A BOARD SUMMARY REPORT OF FORM 990 PROVIDED BY ITS TAX PREPARER. |
| Conflict of interest policy | Form 990, Part VI, Section B, Line 12c | CONFLICT OF INTEREST QUESTIONNAIRE IS COMPLETED BY EACH BOARD MEMBER ANNUALLY. EMPLOYEES ARE SUBJECT TO THE CONFLICT OF INTEREST POLICY AND ARE REQUIRED TO CONTACT THE HUMAN RESOURCES DEPARTMENT SHOULD A CONFLICT ARISE. POTENTIAL CONFLICTS ARE REVIEWED BY OUTSIDE LEGAL COUNSEL TO DETERMINE IF ADDITIONAL FOLLOW-UP AND REVIEW IS APPROPRIATE. IF A CONFLICT IS IDENTIFIED, THE INDIVIDUALS INVOLVED IN THE CONFLICT MUST REMOVE THEMSELVES FROM THE DECISION MAKING PROCESS ASSOCIATED WITH THE CONFLICT. |
| Process used to establish compensation of top management official | Form 990, Part VI, Section B, Line 15a | THE COMPANY UTILIZES THIRD PARTY COMPENSATION SURVEY INFORMATION IN REVIEWING COMPENSATION FOR TOP MANAGEMENT. A THIRD PARTY CONSULTANT WAS ENGAGED IN THE DESIGN OF THE COMPANY'S INCENTIVE COMPENSATION SYSTEM FOR 2012. THE COMPENSATION COMMITTEE REVIEWS THE COMPANY'S ANNUAL COMPENSATION BUDGET PRIOR TO THE REVIEW AND APPROVAL OF COMPENSATION BY THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS REVIEWS AND APPROVES YEAR-END BONUSES FOR SENIOR MANAGERS ON AN INDIVIDUAL BASIS. |
| Process used to establish compensation of other officers/key employees | Form 990, Part VI, Section B, Line 15b | A THIRD PARTY CONSULTANT REVIEWED COMPANY'S COMPENSATION FOR KEY MANAGEMENT EMPLOYEES FOR 2012. THE COMPENSATION COMMITTEE REVIEWS THE COMPANY'S ANNUAL COMPENSATION BUDGET PRIOR TO THE REVIEW AND APPROVAL OF COMPENSATION BY THE BOARD OF DIRECTORS. THE COMPENSATION COMMITTEE REVIEWS YEAR-END BONUSES FOR ALL EMPLOYEES. THE BOARD OF DIRECTORS REVIEWS AND APPROVES YEAR-END BONUSES FOR SENIOR MANAGERS ON AN INDIVIDUAL BASIS. |
| Governing documents, conflict of interest policy and financial statements available to the public | Form 990, Part VI, Section C, Line 19 | ANNUAL AUDITED FINANCIALS ARE PUBLISHED ON COMPANY WEB PAGE. GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST AT THE ORGANIZATION'S CORPORATE OFFICE. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BREEDERS' CUP CHARITIES INC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 4230 | AddressLine1 |
| City | LEXINGTON | City |
| State | KY | State |
| ZIP Code | 40544 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activities | FUNDRAISING | PrimaryActivities |
| Legal Domicile State | DE | LegalDomicileState |
| Exempt Code Section | 501(C)(3) | ExemptCodeSection |
| Public Charity Status | 7 | PublicCharityStatus |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NA | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Org | true | ControlledOrg |
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BREEDERS' CUP PROPERTIES LLC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2525 HARRODSBURG ROAD | AddressLine1 |
| City | LEXINGTON | City |
| State | KY | State |
| ZIP Code | 40504 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 611348517 | EIN |
| Primary Activity | ADVERTISING | PrimaryActivity |
| Legal Domicile State | DE | LegalDomicileState |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NA | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Entity | C CORPORATION | TypeOfEntity |
| Share Of Total Income | 1424466 | ShareOfTotalIncome |
| Share Of EOY Assets | 228606 | ShareOfEOYAssets |
| Percentage Ownership | 1 | PercentageOwnership |
| Controlled Org | true | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | false | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | false | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | false | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | false | LoansOrGuaranteesFromOtherOrg |
| Dividends Related Organization | false | DividendsRelatedOrganization |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | false | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | false | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | false | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | true | SharingOfFacilities |
| Sharing Of Paid Employees | true | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | true | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | true | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | true | OtherTransferToOtherOrg |
| Other Transfer From Other Org | true | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (5 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved | Method Of Amt DeterminationMethodOfAmtDetermination |
|---|---|---|
| BREEDERS' CUP CHARITIES INC | ||
| R | 108247 | FMV |
| BREEDERS' CUP PROPERTIES LLC | ||
| N | 335307 | FMV |
| BREEDERS' CUP PROPERTIES LLC | ||
| O | 264709 | FMV |
| BREEDERS' CUP PROPERTIES LLC | ||
| S | 955000 | FMV |
| BREEDERS' CUP PROPERTIES LLC | ||
| P | 466682 | FMV |
Comments