American Saddlebred Registry Inc

“There are no family relationships among directors. Family or business relationships are possible (and subject to disclosure per the conflict of interest policy) among directors, since many are breeders, owners, officials, judges, participants in competition management, or professional trainers of american saddlebred horses, and may have resulting business relationships.”

“The 990 draft is reviewed by the president, registrar, and treasurer, and changes may be suggested. The audit committee reviews the final 990 draft, and then presents the 990 to the board (along with the audited financial reports) for final acceptance prior to signing by the president or treasurer, and filing. All board members are furnished with a copy of the 990 as filed.”

“Annually, each director is required to sign the conflict of interest policy as approved by the board of directors, and must update the written disclosure form developed by legal counsel, copies of which are available to all directors and members upon request.”

“The tax return is available upon request.”

“The mission of the american saddlebred registry, inc. Is to establish, maintain, and publish a register of american saddlebred horses. American saddlebred registry, inc. Shall guarantee the purity of the breed through establishment, maintenance and publication of an accurate register for the recording of pedigrees and the transfers of ownership of the american saddlebred horse.”

“The process has not changed from the prior year.”

“Prior to 2016, the registry recognized monies received and allocated to future futurities and sweepstakes as board -designated net assets. These monies should be recorded as a liability until such time as shows are held and prize money is awarded. Accordingly, the registry has recorded an adjustment to decrease beginning net assets and increase obligation to prize fund as of january 1, 2016, by $326,906. This adjustment impacted the net change in assets for the 2016 tax year by increasing the previously recorded net change in assets by $15,264. The total prior period adjustment recorded on the 2017 tax return is the aggregate amount of the two aforementioned transacations which is a decrease of $311,642.”