Virginia Gold Cup Association Inc
- Assets
- $325.0k
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 1
- Location
- Warrenton, VA
- Founding
- 07/1975
- Data as of
- 12/2022
- EIN
- 54-0943990
Organization Overview
Virginia Gold Cup Association Inc is located in Warrenton, VA. The organization was established in 1975. According to its NTEE Classification (N69) the organization is classified as: Equestrian, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Gold Cup Association Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Virginia Gold Cup Association Inc generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ORGANIZE AND PROMOTE STEEPLECHASE RACES IN FAUQUIER COUNTY, VIRGINIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION HISTORICALLY ORGANIZES AND PROMOTES TWO ANNUAL STEEPLECHASE RACES IN FAUQUIER COUNTY, VIRGINIA.
CONTRIBUTIONS TO LOCAL NON-PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Allison President | OfficerTrustee | 15 | $0 |
Alfred C Griffin Vice President | OfficerTrustee | 2 | $0 |
G Wayne Eastham Treasurer | OfficerTrustee | 2 | $0 |
Marshall D Doeller Secretary | OfficerTrustee | 1 | $0 |
Jeffrey L Lehew Board Member | Trustee | 0.2 | $0 |
Margaret Church Littleton Board Member | Trustee | 0.2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,099,291 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,413 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | -$97,836 |
| Net Income from Sales of Inventory | $11,108 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,013,976 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,000 |
| 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 | $59,488 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,577 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,175 |
| Fees for services: Accounting | $14,510 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $18,121 |
| Information technology | $2,598 |
| Royalties | $0 |
| Occupancy | $4,542 |
| Travel | $130 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,807 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,417 |
| Insurance | $37,436 |
| All other expenses | $11,072 |
| Total functional expenses | $1,758,043 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $183,396 |
| Savings and temporary cash investments | $52,931 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,750 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,845 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,219 |
| Investments—publicly traded securities | $70,870 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $325,011 |
| Accounts payable and accrued expenses | $3,444 |
| Grants payable | $0 |
| Deferred revenue | $937 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $154,381 |
| Net assets without donor restrictions | $170,630 |
| 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 | $325,011 |