The Round-Up Association

“There is a single class of stockholders that have the right to elect members of the governing body.”

“Stockholders may elect and remove members of the board, and ratify changes to bylaws.”

“A copy of form 990 is reviewed by the accounting department and the general manager. A copy is also provided to the board president and the board member in charge of office/administration. Board members can review the form 990 if requested.”

“All officers, directors and employees are provided with a copy of the conflict of interest policy to review and they must acknowledge in writing that they have done so. The conflict of interest policy is reviewed annually by each member of the board of directors and changes are communicated to all staff and volunteers. Conflicts of interest are disclosed and recorded in the minutes of the meeting. A person who has a conflict of interest must refrain from voting and may not be present in the meeting room when the vote is taken.”

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

“Erika patton received $75,775 in compensation from the round-up association. Happy canyon company and the round-up association had erika oversee the day to day activities of both organizations as general manager. Happy canyon and the round-up have a contract that includes the use of her time by the company.”

“There were significant changes due to covid, the primary change was that for the first time since 1943 the pendleton round-up was canceled. Without a rodeo to put on, efforts were changed towards raising funds for the community. The let'er buck cares (lbc) fund was created and allowed people to donate rodeo tickets and sponsorships to the fund. Over $900k was raised, that was then distributed back to the community through grants.”

“Change in accounting principle for capital assets and accumulated depreciation 608,948.”

“Prior to november 1, 2018, the association followed the practice of expensing all capital assets in the year of acquisition and did not provide for depreciation of the original cost or basis over the estimated useful life, as required by accounting principles generally accepted in the united states of america (gaap). During fiscal year 2019, the association began capitalizing new purchases and in fiscal year 2020, the association fully changed their accounting practice to be in accordance with gaap and updated their records to include all assets that had been acquired prior to fiscal year 2018.”