American Quarter Horse Association

“KATHY HEADLEY, BOARD OF TRUSTEES, and STEVEN R HEADLEY, Director, Family relationship. Shawn Magee, DIRECTOR at large, and JACOB L MAGEE, DIRECTOR, Family relationship. JOSHUA LITTLE, DIRECTOR, and GALE LITTLE, DIRECTOR, FAMILY relationship. ELEANOR M GREEN, DIRECTOR emeritus, and Dr. Jim Heird, past president, family and business relationship. Kenneth Banks, PAST PRESIDENT, and LAINA P BANKS, DIRECTOR at large, Family relationship. Robin Merrill, honorary vice president, and FRANK G MERRILL, past president, Family relationship.”

“THE ORGANIZATION HIRED Andrew Barbe, OF thunderbird advisory group, llc, FOR CONTRACTED CFO SERVICES, for the period June 2023 TO DECEMBER 2023. MR. BARBE BECAME A FULL-TIME EMPLOYEE-OFFICER OF THE ORGANIZATION as of january 1, 2024. thunderbird advisory group, llc WAS PAID $198,645 DURING THE 2023 CALENDAR YEAR FOR THE SERVICES PROVIDED. thunderbird advisory group, llc WAS PAID $175,717 FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2024 FOR SERVICES PROVIDED. ANDREW BARBE RECEIVED COMPENSATION THROUGH thunderbird advisory group, llc FOR SERVICES PROVIDED TO THE FILING ORGANIZATION, FOR THE CALENDAR YEAR 2023, THE SPECIFIC AMOUNT IS NOT KNOWN. THE COST OF THE CONTRACTED CFO SERVICES FOR THE FISCAL YEAR ARE REFLECTED ON FORM 990, PART IX, Line 11a”

“The American Quarter Horse Association is a nonprofit corporation that is composed of approximately 229,100 members worldwide. The members in attendance each have a vote at the annual membership meetings. These members are divided into geographical areas representing states, provinces, countries, or regions. These members are represented on the board of directors. The total number of elected directors is 298. The number of directors representing an area is determined by the number of registered American Quarter Horses in their Geographic region. The members form each region elect the directors from their region. The members approve all decisions of the board of directors and executive committee at the annual meeting. See section II and III of the by-laws.”

“The board of directors is composed of elected directors, past presidents, directors emeriti, directors-at-large, honorary vice presidents, and appointed international directors. All of these have voting rights on the board of directors provided they adhere to the policies to maintain their voting rights. The board of directors meets annually at the annual membership meeting. The board of directors elects the executive committee, which has all rights of the board of directors except the power to change by-laws and any rules pertaining to the registration of horses. The executive committee is a five-member committee consisting of the president, first vice-president, second vice president, and two members, See section IV and V of the by-laws.”

“The decisions of the executive committee are approved by the board of directors. The actions of the board of directors are approved by the members at the annual membership meeting.”

“The 990 is completed with the assistance of the accounting department in conjunction with the CFO/Treasurer and an outside accounting firm. The 990 is then reviewed by the CFO/Treasurer and the CEO. The board of directors through the executive committee also reviews the return. After filing, the 990 is available to anyone upon request.”

“All board members, officers, key employees, and highly compensated individuals are required to fill out the conflict of interest statements on an annual basis. All of these responses are reviewed to determine where conflicts may exist. If a conflict arises, the board member with such conflict will not be allowed to vote on the transaction involved.”

“The executive committee approves compensation for the CEO, CFO/Treasurer, and key employees. Market studies are completed to ensure compensation is in alignment with comparable roles in similarly situated organizations. The executive committee has received independent reviews of the CEO's compensation in the past, but it is not done on an annual basis. The documentation of their decisions is reflected in the minutes of the executive committee meetings. The compensation process was last done in 2019.”

“The organization's governing documents are printed in the annual official handbook that is available upon request to all members and is posted on the AQHA website. The information can also be downloaded through the AQHA app. The conflict of interest policy is available to the public upon request. The consolidated audited financial statements are presented to the members at the annual meeting and then posted on the AQHA website.”

“In the World AQHA members share a passion for the American quarter horse and the vast lifestyle created by the world's most popular horse. Whether you are a seasoned horse show veteran, a fan of the race track, a backyard horse enthusiast or simply someone dreaming of someday owning a horse, an AQHA membership will provide countless benefits and a means in which a connection can be made between members with similar passions. Located in Amarillo, Texas, AQHA has registered more than 7 million American Quarter horses and serves more than 229,200 members worldwide. AQHA functions as the official record keeping and governing body of the American Quarter Horse industry. AQHA records all American Quarter Horse ownership, processes approved show and race results, catalogs performance and produce data on all American Quarter Horses, maintains Association Funds and publications.”

“Develop diverse educational programs, materials and curriculum that will position AQHA as the leading resource organization in the equine industry. To generate growth of AQHA membership via the marketing, promotion, advertising and publicity of the American Quarter Horse; to ensure the American Quarter Horse is treated humanely, with dignity, respect and compassion at all times.”

“during the preparation of the current year's form 990, it was evaluated and determined that competition winners' prize monies and in-kind trophies, buckles, and horse tack awards, would be more appropriately reported as a component of show and event expense, and not grants or assistance to individuals. in prior years, competition winnings were reported as grants or direct assistance to individuals, and as such, were included on 990 part ix line 2 and 3 (if foreign individual) and reportable on schedule i, part III. all competition winners are chosen based upon skill level and are not based upon charitable or financial need.”

“Other change in net assets: $2,903,275 Pension liability adjustment.”

“There has been no change in the selection of a financial statement auditor or in the review of the financial statement audit, from prior years.”

“Description:arena ground service total fees:44778”

“Description:arena tech service total fees:24455”

“Description:contract labor total fees:3503923”

“Description:equine professional fees total fees:34305”

“Description:payroll processing fee total fees:184685”

“Description:professional fees - other total fees:2122015”