2024-11-05T11:59:24-06:00 2023-12-31 273858252 DEAN DORTON ALLEN FORD PLLC 250 W MAIN STREET STE 1400 LEXINGTON KY 40507 990 2023-01-01 616031750 GRAYSON-JOCKEY CLUB RESEARCH FOUNDATION INC GRAY 2123715970 250 PARK AVENUE SUITE 2020 NEW YORK NY 10177 LAURA BARILLARO TREASURER 2123715970 2024-11-01 1 0 ALLISON C CARTER P01242412 8592552341 2023 2024-10-15 13:58:12Z JAMIE HAYDON 821 CORPORATE DRIVE LEXINGTON KY 405032794 19330292 0 X WWW.GRAYSON-JOCKEYCLUB.ORG X 1989 NY THE ORGANIZATION IS COMMITTED TO THE ADVANCEMENT OF RESEARCH TO ENHANCE THE SAFETY AND HEALTH OF THE HORSE. 22 22 0 23 0 0 2234135 1767034 0 0 961755 1503440 -81303 6161 3114587 3276635 1659537 1896057 0 0 439824 538711 0 0 488486 248833 265987 2348194 2700755 766393 575880 37387583 44577903 111920 201219 37275663 44376684 X THE ORGANIZATION IS COMMITTED TO THE ADVANCEMENT OF RESEARCH TO ENHANCE THE SAFETY AND HEALTH OF THE HORSE. 0 0 2099793 1896057 6161 GRAYSON-JOCKEY CLUB RESEARCH FOUNDATION IS A LEADING, NON-PROFIT CHARITABLE ORGANIZATION. MEMBERSHIP IS UNRESTRICTED AND OPEN TO ALL. THE FOUNDATION'S MISSION IS TO FUND VETERINARY RESEARCH BENEFICIAL TO PROMOTING THE HEATH AND SOUNDNESS OF HORSES. ALTHOUGH IT IS AFFILIATED WITH THE THOROUGHBRED HORSE INDUSTRY, MOST RESEARCH IS BENEFICIAL TO ALL BREEDS. IN 2023, THE FOUNDATION FUNDED 25 GRANTS TOTALING $1,896,057. VETERINARY RESEARCH IS CONDUCTED AT UNIVERSITIES IN NORTH AMERICA. THE FOUNDATION HAS NO ALLIANCE WITH ANY ONE UNIVERSITY AND IS FREE TO FUND THE BEST RESEARCH BASED ON RECOMMENDATIONS FROM ITS RESEARCH ADVISORY COMMITTEE. A PERCENTAGE OF APPROVED FUNDING IS DIRECTED TO SUPPORT LAB TECHNICIANS AND GRADUATE ASSISTANTS TO SUPPORT THE PRINCIPAL INVESTIGATOR. THUS, RESEARCH TODAY IS HELPING TO RECRUIT AND TRAIN RESEARCHERS FOR TOMORROW, GIVING EXTRA IMPACT FROM THE FOUNDATION'S FUNDING. ASIDE FROM STAFF ASSISTANCE, THE FOUNDATION DOES NOT PAY THE PRINCIPAL INVESTIGATOR'S SALARY OR ANY OTHER OVERHEAD, THEREBY TARGETING ITS DOLLARS DIRECTLY FOR RESEARCH. 2099793 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 1 1 0 1 1 0 0 1 1 0 1 1 1 1 1 0 FL KY NY X LAURA BARILLARO 2123715970 250 PARK AVE SUITE 2020 NEW YORK NY 10177 X JAMIE S HAYDON PRESIDENT 40.00 X 184477 0 9977 HOLLY WHITE DIRECTOR OF DEVELOPMENT 40.00 X 122080 0 6881 RESIA AYERS SECRETARY, OPERATIONS MANAGER 40.00 X 52766 0 20969 DELL HANCOCK CHAIRMAN 4.00 X X 0 0 0 KEVIN LAVIN VICE CHAIRMAN 1.00 X X 0 0 0 LAURA BARILLARO TREASURER 2.00 X 0 0 0 DR RICK M ARTHUR DIRECTOR 1.00 X 0 0 0 BRAXTON JONES LYNCH DIRECTOR 1.00 X 0 0 0 PERRY R BASS DIRECTOR 1.00 X 0 0 0 JOHN M B O'CONNOR DIRECTOR 1.00 X 0 0 0 DR LARRY R BRAMLAGE DIRECTOR 1.00 X 0 0 0 J MICHAEL O'FARRELL DIRECTOR 1.00 X 0 0 0 CHARLSIE CANTEY DIRECTOR 1.00 X 0 0 0 JOHN C OXLEY DIRECTOR 1.00 X 0 0 0 LOUIS CELLA DIRECTOR 1.00 X 0 0 0 DR HIRAM C POLK JR DIRECTOR 1.00 X 0 0 0 ADELE B DILSCHNEIDER DIRECTOR 1.00 X 0 0 0 DAISEY PHIPPS PULITO DIRECTOR 1.00 X 0 0 0 DONALD R DIZNEY DIRECTOR 1.00 X 0 0 0 GEOFFREY RUSSELL DIRECTOR 1.00 X 0 0 0 BEN HAGGIN DIRECTOR 1.00 X 0 0 0 VIRGINIA GUEST VALENTINE DIRECTOR 1.00 X 0 0 0 LUCY YOUNG HAMILTON DIRECTOR 1.00 X 0 0 0 VINNIE VIOLA DIRECTOR 1.00 X 0 0 0 STUART S JANNEY III DIRECTOR 1.00 X 0 0 0 LEVERETT S MILLER DIRECTOR EMERITUS 1.00 X 0 0 0 359323 0 37827 2 0 1 0 0 1278915 488119 1767034 443558 443558 17113539 16053657 1059882 1059882 1059882 MISCELLANEOUS INCOME 900099 5681 5681 BOOK SALES 900099 480 480 6161 3276635 6161 0 1503440 1896057 1896057 273898 41835 41835 190228 222822 91171 131651 7899 7899 1617 1617 32475 8748 2401 21326 15256 15256 22890 22890 101995 101995 27197 2266 3331 21600 11489 11489 5400 5400 18719 3744 3744 11231 55972 55972 1531 1531 3211 3211 MISCELLANEOUS EXPENSE 1328 1328 BANK CHARGES 939 939 DUES & SUBSCRIPTIONS 60 60 2700755 2099793 112476 488486 14580 4975 3502568 2722725 60200 85750 7229 8723 60355 52698 0 7657 33803006 41748073 37387583 44577903 111920 201219 111920 201219 X 18473961 22925052 18801702 21451632 37275663 44376684 37387583 44577903 X 575880 6488202 36939 X X 0 1 X 1 0 X 1920540 1504436 4261281 2234135 1767034 11687426 1920540 1504436 4261281 2234135 1767034 11687426 1736082 9951344 455665 242634 242538 253348 443558 1637743 11639 50162 6161 67962 13393131 0.74300 0.63690 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14800912 3344367 187418 17957861 19514869 -4608091 105866 14800912 16999526 2622493 107150 19514869 13982469 3123421 106364 16999526 11711784 2469844 199159 13982469 0.32906 0.67094 0 0 60355 52698 7657 7657 X 9801776 6488202 36939 6525141 3276635 0 3276635 2700755 0 2700755 0 2700755 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT SHALL BE USED TO FUND EQUINE-RELATED SCIENTIFIC RESEARCH THAT CONSTITUTES THE ORGANIZATION'S PRIMARY EXEMPT MISSION. PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PRESCRIBES RECOGNITION THRESHOLDS AND MEASUREMENT ATTRIBUTES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. TAX BENEFITS WILL BE RECOGNIZED ONLY IF THE TAX POSITION IS MORE LIKELY THAN NOT SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED WILL BE 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 WILL BE RECORDED. FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022, NO INCOME TAX LIABILITY HAS BEEN RECOGNIZED RELATED TO UNCERTAIN TAX PROVISIONS IN THE ACCOMPANYING FINANCIAL STATEMENTS. IF AN UNCERTAIN TAX POSITION WAS RECOGNIZED, THE FOUNDATION WOULD ACCRUE INTEREST AND PENALTIES ASSOCIATED WITH THE UNCERTAIN TAX POSITION. FOR THE FOUNDATION'S MAJOR TAX JURISDICTIONS, THE 2020, 2021, AND 2022 TAX YEARS REMAIN SUBJECT TO EXAMINATION. THE FOUNDATION DOES NOT EXPECT SIGNIFICANT CHANGES IN UNRECOGNIZED TAX BENEFITS IN THE NEXT TWELVE MONTHS. 1 AUBURN UNIVERSITY 1161 SAMFORD AVE BLDG 8 AUBURN AL 36849 636000724 STATE OF AL 56339 0 EQUINE RESEARCH COLORADO STATE UNIVERSITY 711 OVAL DRIVE FORT COLLINS CO 80521 846000545 STATE OF CO 132746 0 EQUINE RESEARCH CORNELL UNIVERSITY 616 THURSTON AVE ITHACA NY 14853 150532082 501(C)(3) 414709 0 EQUINE RESEARCH LOUISIANA STATE UNIVERSITY 3960 W LAKESHORE DRIVE BATON ROUGE LA 70803 726000848 501(C)(3) 61217 0 EQUINE RESEARCH MICHIGAN STATE UNIVERSITY 426 AUDITORIUM ROAD EAST LANSING MI 48824 386005984 STATE OF MI 255924 0 EQUINE RESEARCH NORTH CAROLINA STATE CAMPUS BOX 7103 RALEIGH NC 27695 566000756 STATE OF NC 20000 0 EQUINE RESEARCH OHIO STATE UNIVERSITY RESEARCH FOUNDATION 208 BRICKER HALL 190 NORTH OVAL MALL COLUMBUS OH 43210 316401599 501(C)(3) 33324 0 EQUINE RESEARCH OKLAHOMA STATE UNIVERSITY 208 N MCFARLAND STILLWATER OK 74074 731383996 STATE OF OK 37830 0 EQUINE RESEARCH TEXAS A&M 400 BIZZELL ST COLLEGE STATION TX 77843 746000531 STATE OF TX 249201 0 EQUINE RESEARCH UNIVERSITY OF CALIFORNIA-DAVIS 1 SHIELDS AVE DAVIS CA 95616 946036494 STATE OF CA 223127 0 EQUINE RESEARCH UNIVERSITY OF GEORGIA 104 CALDWELL HALL ATHENS GA 30602 586001998 STATE OF GA 76464 0 EQUINE RESEARCH UNIVERSITY OF KENTUCKY RESEARCH FOUNDATION 201 KINKEAD HALL LEXINGTON KY 40508 616033693 501(C)(3) 92400 0 EQUINE RESEARCH UNIVERSITY OF PENNSYLVANIA 3451 WALNUT ST RM 100 PHILADELPHIA PA 19104 231352685 501(C)(3) 110259 0 EQUINE RESEARCH VIRGINIA MARYLAND COLLEGE OF VETERINARY MEDICINE 205 DUCK POND DR BLACKSBURG VA 24061 834624981 501(C)(3) 44147 0 EQUINE RESEARCH UNIVERSITY OF ILLINOIS 506 S WRIGHT ST URBANA IL 61801 376000051 STATE OF IL 88370 0 EQUINE RESEARCH 15 0 PART I, LINE 2: THE ORIGINAL APPLICATION FOR FUNDING INCLUDES A DETAILED BUDGET FOR ALL SALARIES, EQUIPMENT, AND RESEARCH RESOURCES REQUIRED. THE RESEARCHER IS REQUIRED TO HAVE ANY AMENDMENTS APPROVED BY THE FOUNDATION. A SCHEDULE OF PROGRESS AND COMPLETION IS REQUIRED FOR ALL GRANTS. PROGRESS REPORTS ARE EXPECTED AT STATED INTERVALS AND IF THEY ARE LATE, THE FOUNDATION CONTACTS THE RESEARCHER TO UNDERSTAND THE DELAY. AT THE END OF THE PROCESS, THE FOUNDATION EXPECTS A SCIENTIFIC PAPER TO BE SUBMITTED FOR PUBLICATION IN A SCIENTIFIC JOURNAL. THE FOUNDATION HAS THE RIGHT TO DECLARE ANY RESEARCHER WHO IS DELINQUENT TO BE INELIGIBLE TO SUBMIT ANY FURTHER PROPOSALS. IF ANY INSTITUTION HAS MORE THAN ONE DELINQUENT RESEARCHER, NO ONE IN ANY DEPARTMENT OF THE INSTITUTION IS ELIGIBLE UNTIL THE MATTER IS RESOLVED. X X 0 0 0 0 0 0 0 0 0 JAMIE S HAYDON PRESIDENT 158400 0 25600 0 477 0 9456 0 521 0 194454 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A ARTICLE V, SECTION 2: AN EXECUTIVE COMMITTEE SHALL BE APPOINTED AT EACH ANNUAL MEETING OF THE BOARD AND SHALL CONSIST OF SUCH NUMBER OF DIRECTORS AS IS DETERMINED FROM TIME TO TIME BY RESOLUTION OF THE BOARD. THE EXECUTIVE COMMITTEE SHALL INCLUDE THE CHAIRMAN OF THE BOARD OF THE CORPORATION. EACH MEMBER OF THE EXECUTIVE COMMITTEE SHALL HOLD OFFICE FOR ONE YEAR AND UNTIL THE ELECTION AND QUALIFICATION OF HIS OR HER SUCCESSOR. THE EXECUTIVE COMMITTEE SHALL BETWEEN MEETINGS OF THE BOARD HAVE AND EXERCISE ALL POWERS OF THE BOARD WHICH ARE NOT SPECIFICALLY REQUIRED BY LAW OR BY THESE BYLAWS TO BE EXERCISED BY THE BOARD. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERSHIP OF THE CORPORATION SHALL CONSIST OF SIX CLASSES, AS FOLLOWS: ANNUAL MEMBERS, SUPPORTING MEMBERS, SUSTAINING INDIVIDUAL MEMBERS, ORGANIZATION MEMBERS, FRIENDS OF RESEARCH AND BENEFACTORS. THE DESIGNATION AND CHARACTERISTICS OF EACH CLASS OF MEMBERS, AND THE QUALIFICATIONS AND RIGHTS OF, AND THE LIMITATIONS UPON, THE MEMBERS OF EACH CLASS SHALL BE SET FORTH FROM TIME TO TIME BY RESOLUTION OF THE BOARD OF DIRECTORS. EACH MEMBER SHALL BE ENTITLED TO CAST ONE VOTE IN PERSON OR BY PROXY AT ANY MEETING OF THE MEMBERS OF THE CORPORATION. EACH MEMBER WHICH IS AN ORGANIZATION SHALL DESIGNATE A PERSON WHO SHALL ACT AS ITS AUTHORIZED REPRESENTATIVE AT MEMBERSHIP MEETINGS OR ON OTHER OCCASIONS WHEN VOTING IS CALLED FOR. NO PERSON MAY REPRESENT MORE THAN ONE ORGANIZATION AS MEMBER OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A DIRECTORS SHALL BE ELECTED BY VOTE OF THE MEMBERS AT THE ANNUAL MEETING OF MEMBERS, AT ANY ADJOURNMENT THEREOF, OR AT ANY MEETING INCLUDING NOTICE OF A DIRECTORS' ELECTION. EACH DIRECTOR SHALL ATTEND THE ANNUAL MEETING OF THE MEMBERS HELD AFTER THE ELECTION OF SUCH DIRECTOR AND THE ELECTION AND QUALIFICATION OF A SUCCESSOR. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY AN INDEPENDENT PUBLIC ACCOUNTING FIRM. A COPY OF THE FORM 990 WAS PRESENTED TO MANAGEMENT FOR REVIEW AND APPROVAL. IT WAS SUBMITTED TO THE BOARD AND REVIEWED BY THE CHAIRMAN AND TREASURER ON BEHALF OF THE BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C UPON HIRING, EVERY EMPLOYEE OF THE JOCKEY CLUB DIRECTLY AND THE FOUNDATION INDIRECTLY IS REQUIRED TO COMPLETE A FORMAL DISCLOSURE AND CONFLICT OF INTEREST REPORT. EMPLOYEES ARE REQUIRED TO INFORM MANAGEMENT OF ANY OWNERSHIP OF A THOROUGHBRED (IN WHOLE OR IN PART), ANY VESTED INTEREST IN AN ORGANIZATION RELATED TO THE THOROUGHBRED INDUSTRY, OR IF THEY PERFORM ANY THOROUGHBRED INDUSTRY RELATED SERVICES OUTSIDE THE SCOPE OF THEIR EMPLOYMENT. THIS IS AN ONGOING DOCUMENT AND THE EMPLOYEE IS REQUIRED TO UPDATE IT FOR ANY CHANGES THAT OCCUR IN A TIMELY MANNER. COMPLETION OF THE REPORT IS A CONDITION OF EMPLOYMENT. BOARD MEMBERS AND OFFICERS ARE REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT. CONFLICTS ARE REVIEWED BY THE BOARD AND BOARD MEMBERS RECUSE THEMSELVES FROM VOTING ON ISSUES FOR WHICH THERE EXISTS A CONFLICT. THERE HAVE BEEN NO SUCH ISSUES TO DATE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE TOP MANAGEMENT OFFICIAL OF GRAYSON-JOCKEY CLUB RESEARCH FOUNDATION IS PAID BY THE JOCKEY CLUB, AN UNRELATED ORGANIZATION, AND RELATED SALARIES AND BENEFITS ARE BILLED TO THE FOUNDATION PURSUANT TO AGREEMENTS BETWEEN THE PARTIES. COMPENSATION CONSISTS OF TWO COMPONENTS, BASE SALARY AND INCENTIVE COMPENSATION. INCENTIVE COMPENSATION IS BASED ON THE ACHIEVEMENT OF A COMBINATION OF QUANTITATIVE AND QUALITATIVE GOALS THAT ARE APPROVED BY THE CHAIRMAN OF GRAYSON-JOCKEY CLUB RESEARCH FOUNDATION AT THE BEGINNING OF EACH YEAR. THE OBJECTIVE OF THE COMPENSATION PROGRAM IS THAT THE COMBINATION OF THE BASE COMPENSATION PLUS THE INCENTIVE COMPENSATION AT 100% ACHIEVEMENT OF PREDETERMINED GOALS EQUATES TO MARKET BASED COMPENSATION. THE TREASURER AND THE CHAIRMAN OF THE JOCKEY CLUB BOARD OF DIRECTORS REVIEW THE COMPENSATION OF THE PRESIDENT ANNUALLY. THE TREASURER THEN PROVIDES THE PRESIDENT'S PROPOSED COMPENSATION TO THE CHAIRMAN OF THE GRAYSON-JOCKEY CLUB RESEARCH FOUNDATION BOARD OF DIRECTORS. COMPENSATION FOR THE PRESIDENT IS APPROVED AND DOCUMENTED BY THE CHAIRMAN OF THE GRAYSON-JOCKEY CLUB RESEARCH FOUNDATION BOARD. COMPENSATION OF COMPARABLE POSITIONS ARE REVIEWED IN THE DETERMINATION OF THE PRESIDENT'S COMPENSATION. THE COMPENSATION COMPARABILITY ANALYSIS WAS COMPLETED IN 2015 AND IS USED BY THE ORGANIZATION TO REVIEW AND DETERMINE COMPENSATION ON AN ANNUAL BASIS. THIS PROCESS WAS LAST COMPLETED AND REVIEWED WITH THE CHAIRMAN IN 2023. COMPENSATION FOR THE OTHER OFFICER OF GRAYSON-JOCKEY CLUB RESEARCH FOUNDATION IS PAID BY THE JOCKEY CLUB, AN UNRELATED ORGANIZATION, AND RELATED SALARIES AND BENEFITS ARE BILLED TO THE FOUNDATION PURSUANT TO AGREEMENTS BETWEEN THE PARTIES. COMPENSATION CONSISTS OF TWO COMPONENTS, BASE SALARY AND INCENTIVE COMPENSATION. INCENTIVE COMPENSATION IS BASED ON THE ACHIEVEMENT OF A COMBINATION OF QUANTITATIVE AND QUALITATIVE GOALS THAT ARE APPROVED BY THE CHAIRMAN OF GRAYSON-JOCKEY CLUB RESEARCH FOUNDATION AT THE BEGINNING OF EACH YEAR. THE OBJECTIVE OF THE COMPENSATION PROGRAM IS THAT THE COMBINATION OF THE BASE COMPENSATION PLUS THE INCENTIVE COMPENSATION AT 100% ACHIEVEMENT OF PREDETERMINED GOALS EQUATES TO MARKET BASED COMPENSATION. COMPENSATION IS APPROVED BY THE CHAIRMAN AND DOCUMENTED BY THE BOARD OF DIRECTORS WHEN THE ANNUAL BUDGET IS APPROVED. COMPENSATION OF COMPARABLE POSITIONS ARE REVIEWED IN THE DETERMINATION OF THE OTHER OFFICER'S COMPENSATION. THE COMPENSATION COMPARABILITY ANALYSIS WAS COMPLETED IN 2015 AND IS USED BY THE ORGANIZATION TO REVIEW AND DETERMINE COMPENSATION ON AN ANNUAL BASIS. THIS PROCESS WAS LAST COMPLETED AND DISCUSSED WITH THE CHAIRMAN IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS IRS DETERMINATION LETTER AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS HEAD OFFICES. ANY INDIVIDUAL REQUESTING A COPY OF THE DOCUMENTS IS PROVIDED THAT COPY ON THE SAME BUSINESS DAY. THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND AT THE ORGANIZATION'S DISCRETION. PART VII, SECTION A COMPENSATION FOR EACH OF GRAYSON-JOCKEY CLUB RESEARCH FOUNDATION'S OFFICERS IS PAID BY THE JOCKEY CLUB, AN UNRELATED ORGANIZATION, AND THE RELATED SALARIES AND BENEFITS ARE BILLED TO THE FOUNDATION PURSUANT TO AGREEMENTS BETWEEN THE PARTIES. FORM 990, PART XI, LINE 9: RECOVERY OF PRIOR YEAR GRANTS 36,939. FORM 990, PART XII, LINE 2C: NO CHANGE IN PROCESSES FROM THE PRIOR YEAR. PART V, LINE 2A THE FORM W-3 IS FILED ANNUALY BY THE JOCKEY CLUB, AN UNRELATED ORGANIZATION, ON BEHALF OF GRAYSON-JOCKEY CLUB RESEARCH FOUNDATION.