Virginia Thoroughbred Association
- Assets
- $562.5k
- Revenue
- $493.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Charlottesville, VA
- Founding
- 02/1999
- Data as of
- 12/2021
- EIN
- 51-0235884
Organization Overview
Virginia Thoroughbred Association is located in Charlottesville, VA. The organization was established in 1999. According to its NTEE Classification (K26) the organization is classified as: Animal Husbandry, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Thoroughbred Association is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2021, Virginia Thoroughbred Association generated $493.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $425.5k during the year ending 12/2021. While expenses have increased by 3.8% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE THOROUGHBRED HORSE INDUSTRY IN VIRGINIA AND ACT AS ADVOCATE FOR INDUSTRY AND COMMONWEALTH AGRI-BUSINESS AND THOROUGHBRED HORSE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VTA ADMINISTERS THE VIRGINIA BREEDERS FUND VIA A CONTRACT WITH THE VIRGINIA RACING COMMISSION. PURSUANT TO THE CONTRACT, MEMBERSHIP IN VTA IS NOT REQUIRED TO PARTICIPATE IN THE BREEDERS FUND. THE BREEDERS FUND PROMOTES THE INTEREST OF THOROUGHBRED BREEDERS AND OWNERS THROUGH ANNUAL AWARDS AND PROMOTIONS.
VTA CONDUCTS ANNUAL MEETINGS, SEMINARS, AND AWARD LUNCHEONS THAT RECOGNIZE ACHIEVEMENTS OF ITS MEMBERS AND THOROUGHBRED HORSES AND THEIR BREEDERS AND OWNERS. SEMINARS ARE HELD TO KEEP MEMBERS ABREAST OF DEVELOPMENT IN BREEDING AND THOROUGHBRED HORSE CARE AND KEEP MEMBERS INFORMED OF RECENT DEVELOPMENTS WITHIN THE HORSE INDUSTRY.
VTA PUBLISHED ONLINE BLOGS AND INFORMATION VIA ITS WEBSITE DESIGNED TO EDUCATE AND INFORM MEMBERS OF SIGNIFICANT MATTERS AFFECTING THE THOROUGHBRED HORSE INDUSTRY IN VIRGINIA. ARTICLES AND INFORMATION ARE DESIGNED TO RAISE PROFESSIONALISM AMONG VTA MEMBERS AND RECOGNIZE AND ENCOURAGE DEVELOPMENT IN THOROUGHBRED HORSE INDUSTRY AND BREEDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Turner Kobayashi Treasurer | OfficerTrustee | 2 | $0 |
Susan Cooney President | OfficerTrustee | 2 | $0 |
Amy Moore Vice Preside | OfficerTrustee | 2 | $0 |
Gillian Gordon-Moore Past Preside | Trustee | 2 | $0 |
James Arrison Director | Trustee | 2 | $0 |
Janet DE Teran Director | Trustee | 2 | $0 |
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 | $25,838 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,838 |
| Total Program Service Revenue | $417,821 |
| Investment income | $740 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $42,261 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $493,730 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $202,776 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,150 |
| Fees for services: Lobbying | $21,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,387 |
| Advertising and promotion | $34,835 |
| Office expenses | $20,217 |
| Information technology | $6,800 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,208 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,611 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,181 |
| All other expenses | $14,693 |
| Total functional expenses | $425,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $370,545 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $187,650 |
| 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 | $4,325 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $562,520 |
| Accounts payable and accrued expenses | $9,912 |
| Grants payable | $0 |
| Deferred revenue | $36,134 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $203,620 |
| Total liabilities | $249,666 |
| Net assets without donor restrictions | $312,854 |
| 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 | $562,520 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tennessee Walking Horse Breeders & Exhibitors Association Lewisburg, TN | $1,795,038 | $1,391,959 |
The Livestock Conservancy Inc Pittsboro, NC | $1,135,488 | $1,337,079 |
North Carolina Cattlemens Assn Inc FuquayVarina, NC | $739,833 | $875,134 |
Virginia Beef Cattle Improvement Assn Blacksburg, VA | $188,516 | $780,596 |
Tennessee Cattlemens Association Murfreesboro, TN | $1,366,983 | $701,337 |
Virginia Cattlemens Association Daleville, VA | $278,818 | $551,486 |
Maryland 4-H Club Foundation Inc Clarksville, MD | $40,969 | $520,272 |
Harrison County Beef Cattle Association Inc Cynthiana, KY | $115,088 | $409,847 |
North Carolina Horse Council Raleigh, NC | $418,370 | $317,170 |
Virginia Thoroughbred Association Charlottesville, VA | $562,520 | $493,730 |
Hart County Cattlemans Association Inc Munfordville, KY | $461,442 | $384,914 |
North Carolina Poultry Federation Inc Raleigh, NC | $1,874,710 | $246,942 |