Virginia Gold Cup Association Inc
- Assets
- $148.3k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 1
- Location
- Warrenton, VA
- Founding
- 07/1975
- Data as of
- 12/2021
- 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 12/2021, Virginia Gold Cup Association Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.4%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.5%) per year over the past 7 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
2021
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 |
|---|---|---|---|
G Wayne Eastham Treasurer | OfficerTrustee | 2 | $0 |
William Allison President | OfficerTrustee | 15 | $0 |
Marshall D Doeller Secretary | OfficerTrustee | 1 | $0 |
Alfred C Griffin Vice President | OfficerTrustee | 2 | $0 |
Jeffrey L Lehew Board Member | Trustee | 0.2 | $0 |
Richard Wallach 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 | $1,323,691 |
| Investment income | $2,590 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$22,482 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | -$40,835 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,262,964 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,200 |
| 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 | $55,142 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,219 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $45 |
| Fees for services: Accounting | $14,815 |
| 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 | $3,057 |
| Information technology | $1,890 |
| Royalties | $0 |
| Occupancy | $3,031 |
| Travel | $33 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,003 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,937 |
| Insurance | $29,519 |
| All other expenses | $13,785 |
| Total functional expenses | $1,150,121 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,257 |
| Savings and temporary cash investments | $51,517 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,515 |
| 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 | $2,896 |
| Investments—publicly traded securities | $74,232 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $148,262 |
| Accounts payable and accrued expenses | $4,815 |
| Grants payable | $0 |
| Deferred revenue | $75,390 |
| 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 | $230,205 |
| Net assets without donor restrictions | -$81,943 |
| 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 | $148,262 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Virginia Gold Cup Association Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Virginia Equine Alliance Warrenton, VA PURPOSE: PROMOTE STEEPLECHASE RACING IN VIRGINIA | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Virginia Horse Center Foundation Lexington, VA | $21,949,749 | $6,089,538 |
United States Dressage Federation Inc Lexington, KY | $12,280,287 | $5,729,896 |
Upperville Colt & Horse Show Inc Upperville, VA | $4,423,395 | $3,060,055 |
National Horse Show Association Of America Ltd Lexington, KY | $1,577,659 | $2,858,029 |
Washington International Horseshow Association Ltd Annapolis, MD | $661,387 | $2,450,328 |
Meadowbrook Foundation Inc Chevy Chase, MD | $4,161,973 | $2,176,434 |
Kentucky Horse Park Foundation Inc Lexington, KY | $11,891,530 | $2,119,028 |
Maryland Thoroughbred Horsemans Association Owings Mills, MD | $1,933,805 | $1,645,385 |
Equestrian Events Inc Lexington, KY | $1,466,435 | $412,033 |
Virginia Gold Cup Association Inc Warrenton, VA | $148,262 | $1,262,964 |
Kentucky Horsemans Benevolent And Protective Association Inc Louisville, KY | $2,025,353 | $1,522,291 |
National Steeplechase Association Inc Elkton, MD | $2,246,962 | $1,167,801 |