Nonprofit · EIN 54-0801738
MIDDLEBURG SPRING RACE ASSOC INC
Tax-exempt · MIDDLEBURG, VA 20118
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $790,320 | $532,258 | $258,062 | $3,258,803 | $349 | $3,258,454 |
| June 30, 2024 | 990 | $750,316 | $516,094 | $234,222 | $2,822,433 | $380 | $2,822,053 |
| June 30, 2023 | 990 | $774,360 | $499,866 | $274,494 | $2,390,485 | $502 | $2,389,983 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $391,138
- Program service revenue
- $322,120
- Investment income
- $77,062
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $44,500
- Other salaries and wages
- $33,428
- Salaries, compensation and benefits (total)
- $35,830
- Professional fundraising fees
- $0
- Legal fees
- $3,500
- Accounting fees
- $9,551
- Occupancy
- $25,770
- Program services (functional)
- $454,211
- Management and general (functional)
- $78,047
Balance sheet and other
- Total assets, start of year
- $2,822,433
- Total assets, end of year
- $3,258,803
- Total liabilities, end of year
- $349
- Net assets, end of year
- $3,258,454
- Publicly traded securities
- $3,086,281
- Net assets without donor restrictions
- $1,025,432
- Net assets with donor restrictions
- $2,233,022
- Gross receipts
- $790,320
- Employees
- 1
- Volunteers
- 15
- Year formed
- 1969
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SHARON SHEPPARD | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| PAUL D FOUT | PRESIDENT Trustee or director, Officer | 3 | $0 |
| F TURNER REUTER JR | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| BEVERLY STEINMAN | DIRECTOR Trustee or director | 1 | $0 |
| GAIL CLARK | DIRECTOR Trustee or director | 1 | $0 |
| PATSY RICHARDS | DIRECTOR Trustee or director | 1 | $0 |
| LYNN WILEY | DIRECTOR Trustee or director | 1 | $0 |
| MICHAEL CRANE | DIRECTOR Trustee or director | 1 | $0 |
| ANNIE BISHOP | DIRECTOR Trustee or director | 3 | $0 |
| PHILIP DUDLEY | VICE PRESIDENT & TREASURER Trustee or director, Officer | 1 | $0 |
| BRUCE SMITH | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SHARON SHEPPARD | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| PAUL D FOUT | PRESIDENT Trustee or director, Officer | 3 | $0 |
| F TURNER REUTER JR | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| BEVERLY STEINMAN | DIRECTOR Trustee or director | 1 | $0 |
| GAIL CLARK | DIRECTOR Trustee or director | 1 | $0 |
| PATSY RICHARDS | DIRECTOR Trustee or director | 1 | $0 |
| LYNN WILEY | DIRECTOR Trustee or director | 1 | $0 |
| MICHAEL CRANE | DIRECTOR Trustee or director | 1 | $0 |
| VIVIANE WARREN | DIRECTOR Trustee or director | 1 | $0 |
| ANNIE BISHOP | DIRECTOR Trustee or director | 3 | $0 |
| PHILIP DUDLEY | VICE PRESIDENT & TREASURER Trustee or director, Officer | 1 | $0 |
| BRUCE SMITH | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2023: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SHARON SHEPPARD | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| DOUG FOUT | PRESIDENT Trustee or director, Officer | 3 | $0 |
| TURNER REUTER | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| BEVERLY STEINMAN | DIRECTOR Trustee or director | 1 | $0 |
| GAIL CLARK | DIRECTOR Trustee or director | 1 | $0 |
| NED GRASSI | DIRECTOR Trustee or director | 0 | $0 |
| LYNN WILEY | DIRECTOR Trustee or director | 1 | $0 |
| MICHAEL CRANE | DIRECTOR Trustee or director | 1 | $0 |
| VIVIANE WARREN | DIRECTOR Trustee or director | 1 | $0 |
| ANNIE BISHOP | DIRECTOR Trustee or director | 3 | $0 |
| PHILIP DUDLEY | DIRECTOR Trustee or director | 1 | $0 |
| BRUCE SMITH | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 1173, MIDDLEBURG, VA 20118-1173
- In care of
- % SHEILA SISK
- Principal officer (990 for 2024)
- PAUL D FOUT, 107 WEST FEDERAL STREET 9B, MIDDLEBURG, VA 20117
- Signed the 990
- PAUL D FOUT, PRESIDENT
- Phone
- (540) 687-6545
- Return prepared by
- YOUNT HYDE & BARBOUR PC
Mission
HORSE RACES FOR THE BENEFIT OF LOCAL CHARITABLE ORGANIZATIONS.
Program accomplishments
- HORSE RACES FOR THE BENEFIT OF LOCAL CHARITABLE ORGANIZATIONS.Expenses $454,211 · grants $44,500 · revenue $322,120
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 54-0801738
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1980
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N69Z)
- Assets (IRS master file)
- $3,258,803
- Income (IRS master file)
- $790,320
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $790,320 | $532,258 | $3,258,803 | XML |
| 990 | June 2024 | $750,316 | $516,094 | $2,822,433 | XML |
| 990 | June 2023 | $774,360 | $499,866 | $2,390,485 | XML |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 54-0801738).
Questions about MIDDLEBURG SPRING RACE ASSOC INC
- What is the EIN of MIDDLEBURG SPRING RACE ASSOC INC?
- The employer identification number (EIN) of MIDDLEBURG SPRING RACE ASSOC INC is 54-0801738.
- Is MIDDLEBURG SPRING RACE ASSOC INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1980.
- Are donations to MIDDLEBURG SPRING RACE ASSOC INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MIDDLEBURG SPRING RACE ASSOC INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MIDDLEBURG SPRING RACE ASSOC INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MIDDLEBURG SPRING RACE ASSOC INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of MIDDLEBURG SPRING RACE ASSOC INC?
- The 990 for the year ended June 30, 2025 names PAUL D FOUT.
- Who are the officers and directors of MIDDLEBURG SPRING RACE ASSOC INC?
- The 990 for the year ended June 30, 2025 lists 11 people; 0 received compensation from the organization.
- How much revenue does MIDDLEBURG SPRING RACE ASSOC INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $790,320, expenses of $532,258 and total assets of $3,258,803 at year end.
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