2024-03-18T09:33:40-05:00 2022-12-31 721088864 LAPORTE APAC 111 VETERANS MEMORIAL BLVD 600 METAIRIE LA 700054958 990 2022-01-01 720676064 LOUISIANA THOROUGHBRED BREEDERS ASSOCIATION LOUI 5049474676 PO BOX 24650 NEW ORLEANS LA 70184 WARREN J HARANG III PRESIDENT 5049474676 2024-03-14 1 WARREN HARANG III 999009999 0 JOHN S WILES CPA P01222673 5048355522 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z WARREN J HARANG III PO BOX 24650 NEW ORLEANS LA 70184 9473881 0 X WWW.LOUISIANABRED.COM X 1961 LA THE ASSOCIATION SEEKS TO PROMOTE AND FURTHER THE THOROUGHBRED BREEDING INDUSTRY (CONT'D ON SCH O.) IN LOUISIANA. THE ASSOCIATION IS ENGAGED IN PROGRAMS FOR THE ENCOURAGEMENT AND IMPROVEMENT OF THE BREEDING OF THOROUGHBRED HORSES IN THE STATE OF LOUISIANA. 13 13 8 0 12170 0 106050 113290 9622853 9346239 9886 10302 10857 4050 9749646 9473881 12000 22500 0 0 477615 499353 0 0 0 9214431 9306845 9704046 9828698 45600 -354817 6203168 5837212 72080 72170 6131088 5765042 THE ASSOCIATION SEEKS TO PROMOTE AND FURTHER THE THOROUGHBRED BREEDING INDUSTRY WITHIN THE STATE OF LOUISIANA. THE ASSOCIATION IS ENGAGED IN PROGRAMS FOR THE ENCOURAGEMENT AND IMPROVEMENT OF BREEDING THOROUGHBRED HORSES IN THE STATE OF LOUISIANA. 0 0 THE ASSOCIATION IS AN ECONOMIC STIMULUS PROGRAM, LEGISLATIVELY PUT IN PLACE AS THE OFFICIAL REGISTRAR OF LOUISIANA BRED THOROUGHBREDS AND FOR THE ENCOURAGEMENT AND IMPROVEMENT OF THOROUGHBRED HORSES IN THE STATE OF LOUISIANA INCLUDING, BUT NOT LIMITED TO, THE PAYMENT OF BREEDERS' AWARDS TO BREEDERS OF ACCREDITED LOUISIANA-BRED HORSES, SUPPLEMENTING PURSES FOR RACES WRITTEN FOR ACCREDITED LOUISIANA-BRED HORSES, AND PAYMENT OF STALLION AND WORLD WIDE BREEDERS AWARDS. THE ASSOCIATION PUBLISHES "THE LOUISIANA HORSE MAGAZINE," THE OFFICIAL PUBLICATION OF THE ASSOCIATION, ON A SEMIANNUAL BASIS, AS WELL AS THE ANNUAL "STALLION REGISTER." SCHOLARSHIP PROGRAM:DRAWINGS WERE HELD TO GIVE OUT $1,000 SCHOLARSHIPS IN FEBRUARY AT DELTA DOWNS, IN MAY AT EVANGELINE DOWNS IN AUGUST AT LOUISIANA DOWNS AND IN DECEMBER AT THE FAIR GROUNDS. ANY MEMBER OF THE GENERAL PUBLIC THAT WAS PRESENT AND CURRENTLY ENROLLED AS A FULL-TIME COLLEGE STUDENT WAS ELIGIBLE TO PARTICIPATE IN THE DRAWING. THE PROCEEDS WERE SUBMITTED DIRECTLY TO THE SCHOOL. 0 1 0 1 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 705 0 1 8 1 1 1 0 0 0 0 0 0 0 X 13 13 1 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X THERESE ARROYO 5049474676 PO BOX 24650 NEW ORLEANS LA 70184 MICHELLE LA VOICE DIRECTOR 10.00 X 300 0 0 JAY ADCOCK DIRECTOR 10.00 X 300 0 0 CHARLOTTE CLAVIER DIRECTOR 3.00 X 300 0 0 DANIEL GUIDRY DIRECTOR 4.00 X 300 0 0 VAL MURRELL DIRECTOR 6.00 X 300 0 0 THOMAS EARLY DIRECTOR 10.00 X 300 0 0 MICHELE RODRIGUEZ DIRECTOR 6.00 X 300 0 0 BRETT BRINKMAN SECOND VICE PRESIDENT 10.00 X X 300 0 0 WARREN J HARANG III PRESIDENT 20.00 X X 300 0 0 JAKE DELHOMME DIRECTOR 4.00 X 300 0 0 KEITH HERNANDEZ FIRST VICE PRESIDENT 2.00 X X 300 0 0 DAVID TILLSON DIRECTOR 6.00 X 300 0 0 JIM MONTGOMERY DIRECTOR 4.00 X 300 0 0 ROGER HEITZMANN III EXECUTIVE DIRECTOR 50.00 X 125099 0 12000 128999 0 12000 1 0 0 0 0 53290 60000 113290 STATE OF LA ALLOCATION 900099 9110970 9110970 ACCREDITING FEES 900099 75360 75360 BREEDER SALE 900099 69711 69711 PUBLICATION INCOME 541800 57413 45243 12170 MARE & STALLION REGIST 900099 19085 19085 13700 13700 9346239 10302 10302 MISCELLANEOUS FEES 900099 4050 4050 4050 9473881 9338119 12170 10302 10500 12000 463735 35618 74285 46361 19801 5875 99643 72629 166420 24441 48011 4497 109974 BREEDER AWARDS PAID 6915109 STALLION AWARDS PAID 914987 PURSE SUPPLEMENTS 563795 OUT OF STATE AWARDS 78642 162375 9828698 1322432 1168082 18449 35625 7910 260228 190538 61018 69690 4793359 4563815 6203168 5837212 72080 72170 72080 72170 X 6131088 5765042 6131088 5765042 6203168 5837212 X -354817 3127 -14356 X X 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4750 0 4750 4750 1 LOUISIANA FIRST FUND PO BOX 399 BROUSSARD LA 70518 271427388 2500 MIKE STRAIN CAMPAIGN 19607 HWY 36 COVINGTON LA 70433 912065856 1250 LIZ BAKER MURRILL 111 VETERANS MEMORIAL BLVD METAIRIE LA 70005 872028416 1000 0 0 0 147735 19800 19800 19800 106084 51444 54640 100394 85430 14964 53750 53664 86 69690 UTILITY DEPOSIT 600 RESTRICTED CASH - SALAM, OTB, AND SLOT MACHINES 4563215 4563815 DEPOSITS - FUTURITY RACES HELD 72170 72170 SCHEDULE D PART IX: RESTRICTED CASH INCLUDES DEPOSITS HELD FOR FUTURITY STALLION STAKES, SALAM, OPEN RACES, AND SLOT AWARDS. 1 SCHOLARSHIPS 12 12000 PART III, COLUMN (B) DRAWINGS WERE HELD TO GIVE OUT $1,000 SCHOLARSHIPS IN FEBRUARY AT DELTA DOWNS, IN MAY AT EVANGELINE DOWNS IN AUGUST AT LOUISIANA DOWNS AND IN DECEMBER AT THE FAIR GROUNDS. ANY MEMBER OF THE GENERAL PUBLIC THAT WAS PRESENT AND CURRENTLY ENROLLED AS A FULL-TIME COLLEGE STUDENT WAS ELIGIBLE TO PARTICIPATE IN THE DRAWING. THE PROCEEDS WERE SUBMITTED DIRECTLY TO THE SCHOOL. THIS PROGRAM IS DESIGNED TO INCREASE COLLEGE AGE PARTICIPATION AT THE RACETRACKS CELEBRATING LA BRED DAYS. FORM 990, PART VI, SECTION A, LINE 2 VAL MURELL AND MICHELLE LAVOICE ARE FATHER AND DAUGHTER. WARREN H AND VAL MURREL HAVE A BUSINESS RELATIONSHIP. JIM MONTGOMERY, JAY ADCOCK AND JAKE DELHOMME HAVE A BUSINESS RELATIONSHIP. TOM EARLY AND VAL MURRELL HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 THE ASSOCIATION HAS APPROXIMATELY 1000 MEMBERS. IN ORDER TO QUALIFY FOR REGULAR MEMBERSHIP, MEMBERS HAVE TO BE ACTIVELY ENGAGED IN THE LOUISIANA THOROUGHBRED HORSE BREEDING INDUSTRY OR REGISTER AN ACCREDITED LOUISIANA BREAD IN ONE OF THE PRIOR TWO BREEDING SEASONS. THE ASSOCIATION ALSO HAS AN ASSOCIATE MEMBER, WHO DOES NOT OWN AT LEAST 50% OF A STALLION OR MARE, AND AS A RESULT, DO NOT HAVE VOTING PRIVILEGES. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE ASSOCIATION ELECT MEMBERS OF THE GOVERNING BODY. AS A REQUIREMENT TO BE A MEMBER OF THE GOVERNING BODY, AN INDIVIDUAL MUST ALSO BE A MEMBER OF THE ASSOCIATION. MEMBERS OF THE ASSOCIATION THAT ARE BREEDING AND ACCREDITING HORSES IN THE STATE OF LOUISIANA ARE ELIGIBLE TO RECEIVE BREEDERS AWARDS BASED SOLELY ON THE HORSE'S PERFORMANCE IN THE THOROUGHBRED RACES AND NOT ON THEIR MEMBERSHIP IN THE ASSOCIATION OR ON BEING A MEMBER OF THE GOVERNING BODY. NO MEMBERS OF THE GOVERNING BODY MAY RECEIVE ANY PERSONAL BENEFITS OR COMPENSATION AS PAYMENT FOR SERVICES. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR AND COMPTROLLER BEFORE PRESENTING IT TO THE FINANCE COMMITTEE. THE FINANCE COMMITTEE THEN HAS THE RETURN PRESENTED TO THE BOARD OF DIRECTORS. UPON THE BOARD'S REVIEW AND APPROVAL, THE RETURN IS SIGNED BY THE PRESIDENT AND IS SUBMITTED FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C A COPY OF THE CONFLICT OF INTEREST POLICY IS PROVIDED ANNUALLY TO EACH DIRECTOR, OFFICER, AND STAFF MEMBER, EACH OF WHOM HAS A CONTINUING RESPONSIBILITY TO MONITOR THEIR FAMILY AND BUSINESS RELATIONSHIPS FOR POTENTIAL CONFLICT OF INTERESTS AND MAKE SUCH DISCLOSURES IN WRITING TO THE BOARD CHAIR. DIRECTORS, OFFICERS, AND STAFF MEMBERS ARE REQUIRED TO COMPLETE A CONFLICT CERTIFICATION AGREEMENT, WHICH SHALL BE REVIEWED BY THE BOARD AS APPROPRIATE. DIRECTORS ARE ALSO GIVEN THE OPPORTUNITY TO DISCLOSE ANY CHANGES IN THEIR CONFLICTS IN EACH BOARD MEETING AFTER THE APPROVAL OF THE PRIOR BOARD MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO IS DICTATED BY THE BOARD OF DIRECTORS, WHICH IS APPROVED BY THE BOARD AND NOTED IN THE MINUTES. REASONABLENESS IS DETERMINED BY THE SALARY AND BENEFITS COMMITTEE, WHO COMPARES THE SALARIES WITH OTHER "SIMILAR ORGANIZATIONS BEFORE RECOMMENDING THE SALARY TO THE BOARD OF DIRECTORS. EACH BOARD MEMBER RECEIVES A $75 PER DIEM ALLOWANCE FOR MEETINGS ATTENDED DURING THE YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST OF ANY PERSONS OR ENTITY. FORM 990, PART XI, LINE 9: SLOT/OTB TIMING DIFFERENCE -14,356. FORM 990, PART XII, LINE 1: THE ORGANIZATION INCORRECTLY CHECKED THE CASH METHOD OF ACCOUNTING IN PRIOR YEARS. THE ORGANIZATION'S BOOKS ARE ON A MODIFIED CASH BASIS OF ACCOUNTING AND THIS YEAR'S 990 HAS BEEN UPDATED TO DISCLOSE THE CORRECT METHOD OF ACCOUNTING. FORM 990, PART XI, LINE 2C: AT THE TIME OF FILING THE FORM 990, THE ORGANIZATION HAS NOT STARTED THE PROCESS OF COMPLETING ITS 2022 FINANCIAL STATEMENT AUDIT. THE ORGANIZATION IS FILING THIS FORM 990 PRIOR TO THE COMPLETION OF THE AUDIT AND HAS USED THE UNAUDITED FINANCIAL STATEMENTS TO COMPLETE THE FORM. IF THERE ARE MATERIAL CHANGES TO THE FINANCIAL STATEMENTS AFTER THE COMPLETION OF THE AUDIT, THE ORGANIZATION WILL AMEND THE FORM 990 TO REFLECT THE CHANGES. FOR THE 2022 AUDIT REPORT, THE ORGANIZATION HAS NOT CHANGED ITS AUDIT OVERSIGHT COMMITTEE OR SELECTION PROCESS OF INDEPENDENT AUDITORS FROM THE PRIOR YEAR. FORM 990 REASONABLE CAUSE STATEMENT IN JANUARY OF 2023 THE LOUISIANA THOROUGHBRED BREEDERS ASSOCIATION'S CONTROLLER WAS DIAGNOSED WITH STAGE 3 AGGRESSIVE BREAST CANCER AND IMMEDIATELY STARTED TREATMENT. THE TREATMENTS RENDERED THE CONTROLLER SICK AND DELAYED IN PERFORMING WORK ACTIVITIES THROUGHOUT THE YEAR OF 2023, CAUSING THE INABILITY TO CREATE THE TAX RETURN IN A TIMELY MANNER. AT THE BEGINNING OF 2024, THE CONTROLLER WAS HEALTHY ENOUGH TO CREATE THE TAX DOCUMENTS AND SUBMIT THEM. THE ORGANIZATION BELIEVES THAT IT HAS REASONABLE CAUSE FOR THE DELINQUENT FILING OF ITS 2022 FORM 990.