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Nonprofiteer
← MIDDLEBURG SPRING RACE ASSOC INC

Form 990 for tax year 2024

Filed by MIDDLEBURG SPRING RACE ASSOC INC.

Totals

Total revenue
$790,320
Total expenses
$532,258
Contributions and grants received
$391,138
Grants paid
$44,500
Program service revenue
$322,120
Investment income
$77,062
Other revenue
$0
Total assets, end of year
$3,258,803
Total liabilities, end of year
$349
Net assets or fund balances, end of year
$3,258,454
Program services expenses (Part IX)
$454,211
Management and general expenses
$78,047
Fundraising expenses
$0
Program service expenses (Part III)
$454,211

Program services were 85.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $391,138

  • 1g · Noncash contributions included above

    $20,074

  • 2a · Program service revenue: SPRING RACE INCOME

    total $322,120 · related or exempt $322,120

  • 3 · Investment income

    total $77,062 · excluded $77,062

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $44,500 · program services $44,500

  • 7 · Other salaries and wages

    total $33,428 · management and general $33,428

  • 10 · Payroll taxes

    total $2,402 · management and general $2,402

  • 11b · Fees: legal

    total $3,500 · management and general $3,500

  • 11c · Fees: accounting

    total $9,551 · management and general $9,551

  • 13 · Office expenses

    total $5,359 · management and general $5,359

  • 16 · Occupancy

    total $25,770 · program services $7,500 · management and general $18,270

  • 23 · Insurance

    total $6,688 · program services $6,688

  • 24a · Other expenses: RACE DAY EXPENSES

    total $371,310 · program services $371,310

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $21,090 · program services $21,090

  • 24c · Other expenses: BANK AND CREDIT CARD FE

    total $5,537 · management and general $5,537

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $3,123 · program services $3,123

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $87,199 · end of year $140,171

  • 3 · Pledges and grants receivable

    beginning of year $37,455 · end of year $32,351

  • 11 · Investments: publicly traded securities

    beginning of year $2,697,779 · end of year $3,086,281

  • 25 · Other liabilities

    beginning of year $380 · end of year $349

  • 27 · Net assets without donor restrictions

    beginning of year $864,243 · end of year $1,025,432

  • 28 · Net assets with donor restrictions

    beginning of year $1,957,810 · end of year $2,233,022

Mission and programs · 2024

Mission

HORSE RACES FOR THE BENEFIT OF LOCAL CHARITABLE ORGANIZATIONS.

  • HORSE RACES FOR THE BENEFIT OF LOCAL CHARITABLE ORGANIZATIONS.

    Expenses $454,211 · Grants $44,500 · Revenue $322,120

As filed on the 2024 return.

Listed in Part VII

  • Sharon Sheppard

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Paul D Fout

    PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • F Turner Reuter Jr

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Beverly Steinman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gail Clark

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patsy Richards

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lynn Wiley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Crane

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Annie Bishop

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Philip Dudley

    VICE PRESIDENT & TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Bruce Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
7 November 2025
IRS schema version
2024v5.2
Source object
202523159349302317

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