BC Company Organization Information
Sept 10, 2013 21:49:12 GMT -5
Post by Evelyn on Sept 10, 2013 21:49:12 GMT -5
The Breeders Cup is NOT a non profit. They have established separate entities for profit and non-profit. What I find frustrating about the consolidated financial statement is no where is there a separate amount for what was received and spent by the 501c.
The purpose of Breeders Cup Charities (page 15): " BC Charities was established as a means to raise funds from the publicand Thoroughbred participants to be donated to other charitable organizations focusing on equine and human health issues". So what does the BC contribute? In the Nature of Operations, it seems clear that current policy (2 subsidiaries) differs greatly from the 1980 original concept.
" The consolidated financial statements include the financial information of Breeders Cup Limited (the "Company") and its wholly ownedssubsidiary, Breeders Cup Properties, LLC and Breeders Cup Charities, a 501 (c)(3) non-profit corporation. All intercompany balances and transactions have been eliminated in conolidation."
The purpose of Breeders Cup Charities (page 15): " BC Charities was established as a means to raise funds from the publicand Thoroughbred participants to be donated to other charitable organizations focusing on equine and human health issues". So what does the BC contribute? In the Nature of Operations, it seems clear that current policy (2 subsidiaries) differs greatly from the 1980 original concept.
" The consolidated financial statements include the financial information of Breeders Cup Limited (the "Company") and its wholly ownedssubsidiary, Breeders Cup Properties, LLC and Breeders Cup Charities, a 501 (c)(3) non-profit corporation. All intercompany balances and transactions have been eliminated in conolidation."
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