VIRGINIA GOLD CUP ASSOCIATION INC: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- VIRGINIA GOLD CUP ASSOCIATION INC (EIN 54-0943990)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-05-15
- IRS object ID
- 201231369349301688
- Schema version
- 2011v1.2
- 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 | 2012-05-15T10:19:21-05:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 540737372 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PBGH LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 29 CULPEPER STREET | AddressLine1 |
| City | WARRENTON | City |
| State | VA | State |
| ZIP Code | 20186 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 540943990 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIRGINIA GOLD CUP ASSOCIATION INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | VIRG | NameControl |
| Phone | 5403472612 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 840 | AddressLine1 |
| City | WARRENTON | City |
| State | VA | State |
| ZIP Code | 20188 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | DR WILLIAM ALLISON | Name |
| Title | PRESIDENT | Title |
| Phone | 5403472612 | Phone |
| Date Signed | 2012-05-02 | DateSigned |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | DONALD W KNOTTS CPA | Name |
| PTIN | P00208667 | PTIN |
| Phone | 5403474970 | Phone |
| Date Prepared | 2012-05-02 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | DR WILLIAM H ALLISON | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 840 | AddressLine1 |
| City | WARRENTON | City |
| State | VA | State |
| ZIP Code | 20188 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 1492457 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.VAGOLDCUP.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1923 | YearFormation |
| State Legal Domicile | VA | StateLegalDomicile |
| Activity Or Mission Description | TO ORGANIZE AND PROMOTE STEEPLECHASE RACES IN FAUQUIER COUNTY, VIRGINIA. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 12 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 12 | NbrIndependentVotingMembers |
| Total Nbr Employees | 3 | TotalNbrEmployees |
| Total Nbr Volunteers | 80 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 1273790 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 1440837 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 2300 | InvestmentIncomePriorYear |
| Investment Income Current Year | 3433 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 519 | OtherRevenuePriorYear |
| Other Revenue Current Year | 14229 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 1276609 | TotalRevenuePriorYear |
| Total Revenue Current Year | 1458499 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 50 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 3950 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 211989 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 196263 | 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 | 1074244 | OtherExpensePriorYear |
| Other Expenses Current Year | 1114739 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 1286283 | TotalExpensesPriorYear |
| Total Expenses Current Year | 1314952 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -9674 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 143547 | RevenuesLessExpensesCY |
| Total Assets BOY | 133514 | TotalAssetsBOY |
| Total Assets EOY | 228782 | TotalAssetsEOY |
| Total Liabilities BOY | 60038 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 15764 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 73476 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 213018 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | 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. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 1041011 | Expense |
| Revenue | 1455066 | Revenue |
| Description | THE ORGANIZATION ORGANIZES AND PROMOTES TWO ANNUAL STEEPLECHASE RACES IN FAUQUIER COUNTY, VIRGINIA | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 3950 | Expense |
| Grants | 3950 | Grants |
| Description | CONTRIBUTIONS TO LOCAL NON-PROFIT ORGANIZATIONS | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 1044961 | TotalProgramServiceExpense |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 0 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 0 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 23 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 3 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 12 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 12 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 0 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 0 | ConflictOfInterestPolicy |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 0 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ACCOUNTANT | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 5403472612 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 90 MAIN STREET | AddressLine1 |
| City | WARRENTON | City |
| State | VA | State |
| ZIP Code | 20186 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | X | NoListedPersonsCompensated |
Form990 Part VII Section A Form990PartVIISectionA (11 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| WILLIAM ALLISON | ||||||
| PRESIDENT | 15.00 | X | X | 0 | 0 | 0 |
| ERNEST M OARE | ||||||
| VICE PRES. | 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 | X | X | 0 | 0 | 0 | |
| MARGARET LITTLETON | ||||||
| BOARD MEMBER | X | X | 0 | 0 | 0 | |
| WILLIAM G PRIME | ||||||
| BOARD MEMBER | X | X | 0 | 0 | 0 | |
| RICK GERHARDT | ||||||
| BOARD MEMBER | X | X | 0 | 0 | 0 | |
| DON YOVANOVICH | ||||||
| BOARD MEMBER | X | X | 0 | 0 | 0 | |
| ALFRED GRIFFIN | ||||||
| BOARD MEMBER | X | X | 0 | 0 | 0 | |
| CHARLES SEILHEIMER | ||||||
| BOARD MEMBER | X | X | 0 | 0 | 0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 0 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 0 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| VIRGINIA GOLD CUP (SPR | 711210 | 1104492 | 1104492 |
| INTERNATIONAL GOLD CUP | 711210 | 336345 | 336345 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 1440837 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 2974 | TotalRevenueColumn |
| Exclusion | $2,974 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 19554 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 19095 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 459 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 459 | TotalRevenueColumn |
| Exclusion | $459 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | 29092 | GrossSalesOfInventory |
| Cost Of Goods Sold | 14863 | CostOfGoodsSold |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 14229 | TotalRevenueColumn |
| Related Or Exempt Function Income | 14229 | RelatedOrExemptFunctionIncome |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1458499 | TotalRevenueColumn |
| Related Or Exempt Function Income | 1455066 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $3,433 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3950 | Total |
| Program Services | 3950 | ProgramServices |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 155333 | Total |
| Management And General | 155333 | ManagementAndGeneral |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4054 | Total |
| Management And General | 4054 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 23441 | Total |
| Management And General | 23441 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 13435 | Total |
| Management And General | 13435 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11375 | Total |
| Management And General | 11375 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 17510 | Total |
| Management And General | 17510 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4959 | Total |
| Management And General | 4959 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 33501 | Total |
| Management And General | 33501 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 308 | Total |
| Program Services | 308 | ProgramServices |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 725 | Total |
| Management And General | 725 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4356 | Total |
| Management And General | 4356 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 26554 | Total |
| Program Services | 25252 | ProgramServices |
| Management And General | 1302 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices |
|---|---|---|
| DIRECT RACE EXPENSES | 588448 | 588448 |
| WINNINGS PAID | 302100 | 302100 |
| PROMOTIONS FOR RACES | 98278 | 98278 |
| OTHER RACE EXPENSES | 26625 | 26625 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1314952 | Total |
| Program Services | 1044961 | ProgramServices |
| Management And General | 269991 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28358 | BOY |
| EOY | 92823 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 57539 | BOY |
| EOY | 60493 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3842 | BOY |
| EOY | 9320 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 86943 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 63388 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 22657 | BOY |
| EOY | 23555 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 42091 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 20618 | BOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 500 | BOY |
| EOY | 500 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 133514 | BOY |
| EOY | 228782 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10038 | BOY |
| EOY | 9181 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 6583 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 50000 | BOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 60038 | BOY |
| EOY | 15764 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 73476 | BOY |
| EOY | 213018 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 73476 | BOY |
| EOY | 213018 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 133514 | BOY |
| EOY | 228782 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 143547 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -4005 | ReconcilationOtherChanges |
| Method Of Accounting Cash | X | MethodOfAccountingCash |
| Accountant Compile Or Review | 1 | AccountantCompileOrReview |
| FS Audited | 0 | FSAudited |
| Audit Committee | 0 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 22232 | OtherCostOrOtherBasis |
| Depreciation | 8383 | Depreciation |
| Book Value | 13849 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 45263 | OtherCostOrOtherBasis |
| Depreciation | 35557 | Depreciation |
| Book Value | 9706 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 19448 | OtherCostOrOtherBasis |
| Depreciation | 19448 | Depreciation |
| Book Value | 0 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 23555 | TotalOfBookValueLandBuildings |
| Total Revenue | 1458499 | TotalRevenue |
| Total Expenses | 1314952 | TotalExpenses |
| Excess Or Deficit For Year | 143547 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -4005 | NetUnrealizedGLOnInvestments |
| Total Adjustments | -4005 | TotalAdjustments |
| Excess Or Deficit Per FS | 139542 | ExcessOrDeficitPerFS |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: BOARD DECISION BASED ON COMMUNITY NEEDS. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| 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 DIRECORS 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 SATEMENTS 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. | |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED LOSSES ON INVESTMENTS: -4,005. | CHANGES IN NET ASSETS OR FUND BALANCES: |
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