Breeders Cup Limited
- Assets
- $113.2m
- Revenue
- $48.1m
- Investments
- $26.2m
- Employees
- 42
- Location
- Lexington, KY
- Founding
- 01/1982
- Data as of
- 01/2024
- EIN
- 13-3082904
Organization Overview
Breeders Cup Limited is located in Lexington, KY. The organization was established in 1982. According to its NTEE Classification (D60) the organization is classified as: Animal Services N.E.C., under the broad grouping of Animal-Related and related organizations. As of 01/2024, Breeders Cup Limited employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Breeders Cup Limited is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 01/2024, Breeders Cup Limited generated $48.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $51.2m during the year ending 01/2024. While expenses have increased by 2.5% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO CONDUCT THE BREEDERS' CUP WORLD CHAMPIONSHIPS AT THE HIGHEST LEVELS OF QUALITY, SAFETY AND INTEGRITY AND TO PROMOTE THE GROWTH OF THOROUGHBRED BREEDING, RACING AND SALES THROUGH PROACTIVE LEADERSHIP, INNOVATION AND SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH BREEDERS' CUP CHAMPIONSHIPS, BREEDERS' CUP CHALLENGE SERIES 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 CONFERENCE, PRESS RELEASES, THE KENTUCKY HORSE PARK EXHIBIT, AND OTHER PROMOTIONAL CAMPAIGNS ARE ALL USED TO INCREASE PUBLIC AWARENESS AND PROMOTE THE THOROUGHBRED INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Banke Chairman | Trustee | 2 | $0 |
Bret Jones Director | Trustee | 2 | $0 |
Fred W Hertrich III Director | Trustee | 2 | $0 |
Antony Beck Director | Trustee | 2 | $0 |
William S Farish Jr Director | Trustee | 2 | $0 |
Alex Solis II Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tvg Network Broadcast Services | 1/30/24 | $543,000 |
Next League Llc Event Planning Consultants | 1/30/24 | $254,326 |
Stoll Keenon Ogden Pllc Legal | 1/30/24 | $174,404 |
Roberts Communications Network Broadcast Services | 1/30/24 | $143,492 |
Lv Harkness & Co Trophy Award Design And Fullfillment | 1/30/24 | $130,960 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $47,148,668 |
| Investment income | $669,783 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $268,877 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,087,353 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $49,020 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,092,654 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,495,461 |
| Pension plan accruals and contributions | $183,764 |
| Other employee benefits | $354,768 |
| Payroll taxes | $285,136 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $358,597 |
| Fees for services: Accounting | $112,653 |
| Fees for services: Lobbying | $3,861 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $326,187 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,006,133 |
| Office expenses | $341,230 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $187,192 |
| Travel | $499,694 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,963 |
| Interest | $271,435 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $462,649 |
| Insurance | $259,381 |
| All other expenses | $62,211 |
| Total functional expenses | $51,247,098 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $942,955 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,897,005 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $568,276 |
| Net Land, buildings, and equipment | $1,077,208 |
| Investments—publicly traded securities | $61,962,431 |
| Investments—other securities | $26,241,106 |
| Investments—program-related | $0 |
| Intangible assets | $2,007,396 |
| Other assets | $12,462,854 |
| Total assets | $113,159,231 |
| Accounts payable and accrued expenses | $3,994,697 |
| Grants payable | $0 |
| Deferred revenue | $6,549,284 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,556,916 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $18,100,897 |
| Net assets without donor restrictions | $95,058,334 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $113,159,231 |