2024-10-02T11:27:30-05:00 2024-01-31 273858252 DEAN DORTON ALLEN FORD PLLC 250 W MAIN STREET STE 1400 LEXINGTON KY 40507 990 2023-02-01 133082904 BREEDERS' CUP LIMITED BREE 8594222615 215 WEST MAIN STREET SUITE 250 LEXINGTON KY 40507 CHAD SALTZMAN VICE PRESIDENT, FINANCE 8594222615 2024-09-20 1 0 ALLISON C CARTER P01242412 8592552341 2023 2024-10-15 13:58:12Z DREW FLEMING 215 WEST MAIN STREET SUITE 250 LEXINGTON KY 40507 52596493 0 X WWW.BREEDERSCUP.COM X 1980 NY 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. 14 13 42 252 -41902 0 0 0 50850884 47148668 158472 938660 1060 25 51010416 48087353 53903 49020 0 0 4453280 5411783 0 0 0 45690796 45786295 50197979 51247098 812437 -3159745 111786548 113159231 20169720 18100897 91616828 95058334 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. 0 0 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. 0 0 0 0 0 0 0 0 0 1 1 0 1 0 1 0 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 238 0 1 42 1 0 0 0 0 0 0 0 0 X 14 13 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X THE ORGANIZATION 8594222615 215 WEST MAIN STREET SUITE 250 LEXINGTON KY 40507 BARBARA BANKE CHAIRMAN 2.00 X 0 0 0 BRET JONES DIRECTOR 2.00 1.00 X 0 0 0 FRED W HERTRICH III DIRECTOR 2.00 1.00 X 0 0 0 ANTONY BECK DIRECTOR 2.00 X 0 0 0 WILLIAM S FARISH JR DIRECTOR 2.00 1.00 X 0 0 0 ALEX SOLIS II DIRECTOR 2.00 X 0 0 0 ELLIOTT WALDEN DIRECTOR 2.00 X 0 0 0 ALAN COOPER DIRECTOR 2.00 X 0 0 0 JIMMY BELL DIRECTOR 2.00 X 0 0 0 GRAY LYSTER DIRECTOR 2.00 X 0 0 0 CLEM MURPHY DIRECTOR 2.00 X 0 0 0 ERIC GUSTAVSON DIRECTOR 2.00 X 0 0 0 WALKER HANCOCK DIRECTOR 2.00 X 0 0 0 ROBERT DREW FLEMING PRESIDENT & CEO 40.00 1.00 X X 742621 0 23517 JOHN KEITT EXECUTIVE VP & COO 40.00 1.00 X 455998 0 40659 DORA J DELGADO EXECUTIVE VP & CHIEF RACING OFFICER 40.00 X 290760 0 37870 JUSTIN N MCDONALD EXECUTIVE VP & CMO 40.00 X 275885 0 43962 MICHAEL NEWMAN VP, CONTROLLER 40.00 X 161753 0 19628 HEATHER HIGGINS SR VP CORPORATE PARTNERSHIPS 40.00 X 210729 0 32480 BRANDY HARMON SR VP TICKETING & VENUE OPERATIONS 40.00 X 186977 0 27268 STEPHANIE PALMIERI VP BREEDERS' CUP EVENTS 40.00 X 168261 0 20162 TIM SCHRAM VP ADMINISTRATION, SIMULCASTING 40.00 X 164896 0 19793 TODD SPARKS VP INFORMATION TECHNOLOGY 40.00 X 181625 0 37674 2839505 0 303013 15 0 1 0 TVG NETWORK 6701 CENTER DR W STE 160 LOS ANGELES CA 900451558 BROADCAST SERVICES 543000 NEXT LEAGUE LLC 170 FISH COVE RD SOUTHAMPTON NY 119681728 EVENT PLANNING CONSULTANTS 254326 STOLL KEENON OGDEN PLLC 300 W VINE ST STE 2100 LEXINGTON KY 405071801 LEGAL 174404 ROBERTS COMMUNICATIONS NETWORK 4175 CAMERON ST STE 10 LAS VEGAS NV 891033772 BROADCAST SERVICES 143492 LV HARKNESS & CO 531 W SHORT ST LEXINGTON KY 405071254 TROPHY AWARD DESIGN AND FULLFILLMENT 130960 7 NOMINATION FEES 900099 16843055 16843055 SIMULCAST REVENUE 900099 15747968 15747968 ENTRY FEES 900099 8630000 8630000 RIGHTS AND ROYALTIES 900099 3895443 3895443 HOST TRACK CONTRIBUTION 900099 2032202 2032202 47148668 669783 -41902 711685 4778017 4509140 268877 268877 268877 CLASS ACTION PROCEEDS 900099 25 25 25 48087353 47148668 -41902 980587 49020 2092654 2495461 183764 354768 285136 358597 112653 3861 326187 6006133 341230 187192 499694 37963 271435 462649 259381 PURSE EXPENSE 33777275 TELEVISION EXPENSES 1597784 OTHER EVENT OPERATING E 1385871 WORLD HORSE RACING 96179 62211 51247098 2615432 942955 528754 0 13125091 7897005 618991 568276 2116031 1038823 1166432 1077208 53684104 61962431 26499852 26241106 1384091 2007396 12163801 12462854 111786548 113159231 1026949 3994697 6304490 6549284 12838281 7556916 20169720 18100897 X 91616828 95058334 91616828 95058334 111786548 113159231 X -3159745 6565051 36200 X X 0 1 X 1 0 560175 160939 399236 1555856 877884 677972 1077208 YORKTOWN ENERGY 2010315 F VENTURE CAPITAL 9508314 F HEDGE FUNDS 12222477 F INVESTMENT IN BCP 2500000 F 26241106 NONQUALIFED PENSION INVESTMENT 10268 INTERCOMPANY 12451402 OTHER AR 1184 12462854 X PART X, LINE 2: BREEDERS' CUP LIMITED IS EXEMPT FROM INCOME TAX UNDER INTERNAL REVENUE CODE 501(C)(6) (THE "CODE"), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. BREEDERS' CUP LIMITED HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. BREEDERS' CUP LIMITED HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. IN RESPECT TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 21730791 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES CONSULTING 24000 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES CONSULTING 48920 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES CONSULTING 43755 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES NOMINATIONS 3000 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES NOMINATIONS 12400 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES PROMOTIONS 162274 0 0 0 0 0 0 22025140 0 22025140 1 0 1 1 1 0 1 THOROUGHBRED AFTERCARE ALLIANCE 821 CORPORATE DRIVE LEXINGTON KY 40503 454783644 501(C)(3) 49020 0 EQUINE FACILITY SUPPORT 1 0 PART I, LINE 2: GRANTS ARE APPROVED BY THE BOARD AND ARE CONSISTENT WITH THE BREEDERS' CUP LIMITED'S MISSION TO PROTECT THE INTEGRITY OF THE THOROUGHBRED INDUSTRY. X X X X X 0 0 0 ROBERT DREW FLEMING PRESIDENT & CEO 742621 0 0 0 0 0 23100 0 417 0 766138 0 0 0 JOHN KEITT EXECUTIVE VP & COO 455998 0 0 0 0 0 23100 0 17559 0 496657 0 0 0 DORA J DELGADO EXECUTIVE VP & CHIEF RACING OFFICER 290760 0 0 0 0 0 20311 0 17559 0 328630 0 0 0 JUSTIN N MCDONALD EXECUTIVE VP & CMO 275885 0 0 0 0 0 19513 0 24449 0 319847 0 0 0 HEATHER HIGGINS SR VP CORPORATE PARTNERSHIPS 210729 0 0 0 0 0 14921 0 17559 0 243209 0 0 0 TODD SPARKS VP INFORMATION TECHNOLOGY 181625 0 0 0 0 0 12937 0 24737 0 219299 0 0 0 BRANDY HARMON SR VP TICKETING & VENUE OPERATIONS 186977 0 0 0 0 0 13140 0 14128 0 214245 0 0 0 STEPHANIE PALMIERI VP BREEDERS' CUP EVENTS 168261 0 0 0 0 0 11753 0 8409 0 188423 0 0 0 TIM SCHRAM VP ADMINISTRATION, SIMULCASTING 164896 0 0 0 0 0 11386 0 8407 0 184689 0 0 0 MICHAEL NEWMAN VP, CONTROLLER 161753 0 0 0 0 0 11220 0 8408 0 181381 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 THE BOARD OF TRUSTEES AND DIRECTORS OF BREEDERS' CUP LIMITED CONSISTS PRIMARILY OF INDIVIDUALS INVOLVED IN MANY FACETS OF THE THOROUGHBRED INDUSTRY, INCLUDING THE BREEDING AND RACING OF THOROUGHBRED HORSES. BREEDERS' CUP LIMITED'S TRUSTEES AND DIRECTORS MAY OWN HORSES DIRECTLY OR THROUGH PARTNERSHIPS THAT ARE ELIGIBLE FOR BREEDERS' CUP PURSES OR AWARDS. CERTAIN TRUSTEES, DIRECTORS OR THEIR FARMS ARE MANAGERS WITH RESPECT TO CERTAIN STALLIONS AND FOALS THAT COLLECTIVELY GENERATE A MAJORITY OF THE STALLION AND FOAL NOMINATIONS FEES ON BEHALF OF BREEDERS' CUP LIMITED. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS WHO HAVE THE AUTHORITY TO ELECT THE GOVERNING BODY AND AMEND THE BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A THERE ARE 43 MEMBERS. MEMBERS HAVE THE RIGHT TO CHANGE CORPORATE BYLAWS AND TO ELECT THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS REQUIRING APPROVAL BY MEMBERS INCLUDE ONLY CHANGES TO BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B REVIEWED BY SENIOR FINANCIAL MANAGERS, FINANCE & AUDIT COMMITTEE, AND THE GOVERNING BODY DURING SEPTEMBER 2024. AFTER THEIR REVIEW, A FINAL DRAFT OF THE FORM 990 IS DISTRIBUTED VIA EMAIL TO THE ENTIRE BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST QUESTIONNAIRE IS COMPLETED BY EACH BOARD MEMBER ANNUALLY. EMPLOYEES ARE SUBJECT TO THE CONFLICT OF INTEREST POLICY AND ARE REQUIRED TO CONTACT THE HUMAN RESOURCES DEPARTMENT SHOULD A CONFLICT ARISE. POTENTIAL CONFLICTS ARE REVIEWED BY OUTSIDE LEGAL COUNSEL TO DETERMINE IF ADDITIONAL FOLLOWUP AND REVIEW IS APPROPRIATE. IF A CONFLICT IS IDENTIFIED, THE INDIVIDUALS INVOLVED IN THE CONFLICT MUST REMOVE THEMSELVES FROM THE DECISION MAKING PROCESS ASSOCIATED WITH THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 A THIRD PARTY CONSULTANT REVIEWS COMPANY'S COMPENSATION FOR KEY MANAGEMENT EMPLOYEES. THE COMPENSATION COMMITTEE REVIEWS THE COMPANY'S ANNUAL COMPENSATION BUDGET PRIOR TO THE REVIEW AND APPROVAL OF COMPENSATION BY THE BOARD OF DIRECTORS. THE COMPENSATION COMMITTEE REVIEWS YEAR-END BONUSES FOR ALL EMPLOYEES. THE BOARD OF DIRECTORS REVIEWS AND APPROVES YEAR-END BONUSES FOR SENIOR MANAGER ON AN INDIVIDUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 ANNUAL AUDITED FINANCIAL STATEMENTS ARE PUBLISHED ON COMPANY WEB PAGE. GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST AT THE ORGANIZATION'S CORPORATE OFFICE. FORM 990, PART XI, LINE 9: PRIOR PERIOD ADJUSTMENT 36,200. BREEDERS' CUP CHARITIES INC 215 WEST MAIN STREET SUITE 250 LEXINGTON KY 40507 262782404 FUNDRAISING DE 501(C)(3) LINE 7 BREEDERS' CUP LIMITED 1 BREEDERS' CUP PROPERTIES LLC 215 WEST MAIN STREET SUITE 250 LEXINGTON KY 40507 611348517 ADVERTISING DE BREEDERS' CUP LIMITED C 223115 967576 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 1 BREEDERS' CUP CHARITIES D 631310 BREEDERS' CUP PROPERTIES LLC D 11820093 BREEDERS' CUP PROPERTIES LLC N 231760 BREEDERS' CUP PROPERTIES LLC O 229684