2023-11-08T17:00:34+00:00 2022-12-31 350921680 CROWE LLP 485 Lexington Avenue Floor 11 New York NY 100172619 990 2022-01-01 616031750 Grayson-Jockey Club Research Foundation Inc GRAY 2123715970 250 Park Ave Suite 2020 New York NY 10177 Laura Barillaro Treasurer 2023-11-08 true Laura Barillaro 999009999 true RACHEL SPURLOCK P00520729 2125725500 2022 2023-04-26 12:10:37Z X JAMIE HAYDON 821 Corporate Drive Lexington KY 405032794 5292428 false X www.grayson-jockeyclub.org X 1989 NY THE ORGANIZATION IS COMMITTED TO THE ADVANCEMENT OF RESEARCH TO ENHANCE THE SAFETY AND HEALTH OF THE HORSE. 22 22 0 23 0 0 4261281 2234135 0 4250784 961755 2797 -81303 8514862 3114587 1688484 1659537 0 409929 439824 0 484748 232025 248833 2330438 2348194 6184424 766393 48405049 37387583 100363 111920 48304686 37275663 THE ORGANIZATION IS COMMITTED TO THE ADVANCEMENT OF RESEARCH TO ENHANCE THE SAFETY AND HEALTH OF THE HORSE. false false 1761128 1659537 3133 Grayson-Jockey Club Research Foundation is a leading, non-profit charitable organization. Membership is unrestricted and open to all. The foundation's mission is to fund veterinary research beneficial to promoting the heath and soundness of horses. Although it is affiliated with the thoroughbred horse industry, most research is beneficial to all breeds. In 2022, the foundation funded 28 grants totaling $1,659,537. Veterinary research is conducted largely at universities in North America as well as certain international universities. The foundation has no alliance with any one university and is free to fund the best research based on recommendations from its Research Advisory Committee. A percentage of approved funding is directed to support lab technicians and graduate assistants to support the principal investigator. Thus, research today is helping to recruit and train researchers for tomorrow, giving extra impact from the foundation's funding. Aside from staff assistance, the foundation does not pay the principal investigator's salary or any other overhead, thereby targeting its dollars directly for research. 1761128 true true false false false false false false true true false false false false true true false false false true true false false true false false true false true false false false false false false false false false false false false false false false false false true X 6 0 true 0 false false false false false true true false false false false false false X 22 22 false false false false true true false true true false false true true true true true true true false FL KY NY X Laura Barillaro 2123715970 250 Park Ave Suite 2020 New York NY 10177 Dell Hancock Chairman 4.0 X X 0 0 0 Kevin Lavin Vice Chairman 1.0 X X 0 0 0 Adele B Dilschneider Director 1.0 X 0 0 0 Ben Haggin Director 1.0 X 0 0 0 Braxton Jones Lynch director 1.0 X 0 0 0 Charlsie Cantey Director 1.0 X 0 0 0 Daisy Phipps Pulito Director 1.0 X 0 0 0 Donald R Dizney Director 1.0 X 0 0 0 Dr Hiram C Polk Jr Director 1.0 X 0 0 0 Dr Larry R Bramlage Director 1.0 X 0 0 0 Dr Rick M Arthur Director 1.0 X 0 0 0 Geoffrey Russell Director 1.0 X 0 0 0 J Michael O'Farrell Director 1.0 X 0 0 0 John C Oxley Director 1.0 X 0 0 0 John M B O'Connor Director 1.0 X 0 0 0 Leverett S Miller Director 1.0 X 0 0 0 Louis Cella Director 1.0 X 0 0 0 Lucy Young Hamilton Director 1.0 X 0 0 0 Perry R Bass Director 1.0 X 0 0 0 Stuart S Janney III Director 1.0 X 0 0 0 Vinnie Viola Director 1.0 X 0 0 0 Virginia Guest Valentine Director 1.0 X 0 0 0 Jamie S Haydon President 40.0 X 184661 0 12259 Laura Barillaro Treasurer 2.0 X 0 0 0 Resia Ayers Secretary, Operations Manager 40.0 X 52632 0 25924 HOLLY WHITE DIRECTOR OF DEVELOPMENT 40.0 X 119974 0 8000 357267 0 46183 2 false true false 0 1209966 157330 866839 2234135 0 0 0 0 0 253348 253348 0 0 2751650 2043243 708407 0 708407 708407 50162 157330 134598 -84436 -84436 misc revenue 900099 2640 2640 Book Sales 900099 493 493 0 0 0 0 3133 3114587 3133 0 877319 1556005 1556005 103532 103532 275476 39278 39278 196920 128482 128482 7679 7679 1557 1557 26630 2663 2663 21304 1000 1000 20855 20855 764 764 56313 48594 7719 0 90849 90849 31326 2293 5538 23495 11012 11012 5400 5400 28046 8763 4821 14462 3268 3268 0 0 0 0 2348194 1761128 102318 484748 15231 14580 5406001 3502568 255715 60200 0 0 0 0 0 34619 7229 51167 51167 0 0 42693483 33803006 0 0 0 0 48405049 37387583 100363 111920 0 0 0 0 100363 111920 X 25262027 18473961 23042659 18801702 48304686 37275663 48405049 37387583 X 766393 -11807952 12536 X false true X true false X 2234135 1920540 1504436 4261281 2234135 12154527 0 0 2234135 1920540 1504436 4261281 2234135 12154527 3283061 8871466 460842 455665 242634 242538 253348 1655027 0 0 0 0 0 0 57710 11639 0 0 50162 119511 13929065 15841 0.6369 0.5895 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - FUNDRAISING REVENUE, COLUMN A - 57710.0, COLUMN B - 11639.0, COLUMN C - 0.0, COLUMN D - 0.0, COLUMN E - 50162.0, COLUMN F - 119511.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19514869 0 -4608091 0 105866 0 14800912 16999526 0 2622493 0 107150 0 19514869 13982469 0 3123421 0 106364 0 16999526 11711784 0 2469844 0 199159 0 13982469 12383403 0 -469873 0 201746 0 11711784 0.0 0.3993 0.6007 false false 51167 51167 0 0 0 X -8681593 -11807952 12536 0 -11795416 3113823 764 0 764 3114587 2347430 0 0 2347430 764 0 764 2348194 Schedule D, Part V, Line 4 Intended uses of endowment funds THE FOUNDATION'S ENDOWMENT SHALL BE USED TO FUND EQUINE-RELATED SCIENTIFIC RESEARCH THAT CONSTITUTES THE ORGANIZATION'S PRIMARY EXEMPT MISSION. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote Accounting principles generally accepted in the United States of America prescribes recognition thresholds and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Tax benefits will be recognized only if the tax position is more likely than not sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized will be the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more likely than not test, no tax benefit will be recorded. For the years ended December 31, 2022 and 2021, no income tax liability has been recognized related to uncertain tax provisions in the accompanying Financial Statements. If an uncertain tax position was recognized, the Foundation would accrue interest and penalties associated with the uncertain tax position. For the Foundation's major tax jurisdictions, the 2019, 2020, and 2021 tax years remain subject to examination. The Foundation does not expect significant changes in unrecognized tax benefits in the next twelve months. true East Asia and the Pacific 0 0 Grantmaking 100248 0 0 0 0 0 0 100248 0 100248 East Asia and the Pacific Equine Research 100248 Cash 0 N/A N/A 1 0 false false false false false false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds THE ORIGINAL APPLICATION FOR FUNDING INCLUDES A DETAILED BUDGET FOR ALL SALARIES, EQUIPMENT, AND RESEARCH RESOURCES REQUIRED. THE RESEARCHER IS REQUIRED TO HAVE ANY AMENDMENTS APPROVED BY THE FOUNDATION. A SCHEDULE OF PROGRESS AND COMPLETION IS REQUIRED FOR ALL GRANTS. PROGRESS REPORTS ARE EXPECTED AT STATED INTERVALS AND IF THEY ARE LATE, THE FOUNDATION CONTACTS THE RESEARCHER TO UNDERSTAND THE DELAY. AT THE END OF THE PROCESS, THE FOUNDATION EXPECTS A SCIENTIFIC PAPER TO BE SUBMITTED FOR PUBLICATION IN A SCIENTIFIC JOURNAL. THE FOUNDATION HAS THE RIGHT TO DECLARE ANY RESEARCHER WHO IS DELINQUENT TO BE INELIGIBLE TO SUBMIT ANY FURTHER PROPOSALS. IF ANY INSTITUTION HAS MORE THAN ONE DELINQUENT RESEARCHER, NO ONE IN ANY DEPARTMENT OF THE INSTITUTION IS ELIGIBLE UNTIL THE MATTER IS RESOLVED. Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements EAST ASIA AND THE PACIFIC-Accrual Schedule F, Part II, Line 1 Method used to account for expenditures on org's financial statements EAST ASIA AND THE PACIFIC-Accrual Belmont Bash 172550 152450 20100 17995 40875 6171 45393 Golf Tournament 33900 4880 29020 18000 4831 1333 1 1042 1042 207492 157330 50162 35995 45706 6171 46726 134598 -84436 true Auburn University 1161 WSamford Ave Bldg 8 Auburn AL 36849 636000724 State of AL 37639 0 N/A N/A Equine Research Colorado State Univeristy 711 Oval Drive Fort Collins CO 80521 846000545 State of CO 45418 0 N/A N/A Equine Research Cornell University 616 Thurston Ave Ithaca NY 14853 150532082 501(c)(3) 95790 0 N/A N/A Equine Research Louisiana State University 3960 W Lakeshore Drive Baston Rouge LA 70803 726000848 501(c)(3) 86948 0 N/A N/A Equine Research North Carolina State Campus Box 7103 Raleigh NC 27695 566000756 State of NC 20000 0 N/A N/A Equine Research Ohio State University Research Foundation 208 Bricker Hall 190 North Oval Mall Columbus OH 43210 316401599 501(c)(3) 106603 0 N/A N/A Equine Research Purdue University 610 Purdue Mall West Lafayette IN 47907 356002041 501(c)(3) 102002 0 N/A N/A Equine Research Texas A&M 400 Bizzell St College Station TX 77843 746000531 State of TX 363425 0 N/A N/A Equine Research University of California-Davis 1 Shields Ave Davis CA 95616 946036494 State of CA 114942 0 N/A N/A Equine Research University of Florida PO Box 117001 Gainesville FL 32611 596002052 501(c)(3) 76405 0 N/A N/A Equine Research University of Georgia 104 Caldwell Hall Athens GA 30602 586001998 State of GA 111062 0 N/A N/A Equine Research University of Illinois 506 S Wright St Urbana IL 61801 376000051 State of IL 60936 0 N/A N/A Equine Research University of Kentucky Research Foundation 201 Kinkead Hall Lexington KY 40508 616033693 501(c)(3) 96771 0 N/A N/A Equine Research University of Minnesota 240 Williamson Hall 231 Pillsbury Dr SE Minneapolis MN 55455 416007513 501(c)(3) 46681 0 N/A N/A Equine Research University of Pennsylvania 3451 Walnut St Rm 100 Philadelphia PA 19104 231352685 501(c)(3) 128992 0 N/A N/A Equine Research University of Wisconsin 500 Lincoln Dr 27 Bascom Hall Madison WI 53706 396006492 State of WI 62391 0 N/A N/A Equine Research 16 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE ORIGINAL APPLICATION FOR FUNDING INCLUDES A DETAILED BUDGET FOR ALL SALARIES, EQUIPMENT, AND RESEARCH RESOURCES REQUIRED. THE RESEARCHER IS REQUIRED TO HAVE ANY AMENDMENTS APPROVED BY THE FOUNDATION. A SCHEDULE OF PROGRESS AND COMPLETION IS REQUIRED FOR ALL GRANTS. PROGRESS REPORTS ARE EXPECTED AT STATED INTERVALS AND IF THEY ARE LATE, THE FOUNDATION CONTACTS THE RESEARCHER TO UNDERSTAND THE DELAY. AT THE END OF THE PROCESS, THE FOUNDATION EXPECTS A SCIENTIFIC PAPER TO BE SUBMITTED FOR PUBLICATION IN A SCIENTIFIC JOURNAL. THE FOUNDATION HAS THE RIGHT TO DECLARE ANY RESEARCHER WHO IS DELINQUENT TO BE INELIGIBLE TO SUBMIT ANY FURTHER PROPOSALS. IF ANY INSTITUTION HAS MORE THAN ONE DELINQUENT RESEARCHER, NO ONE IN ANY DEPARTMENT OF THE INSTITUTION IS ELIGIBLE UNTIL THE MATTER IS RESOLVED. X X false false false false false false false false false Jamie S Haydon President 153000 0 31200 0 461 0 11052 0 1207 0 196920 0 0 0 Form 990, Part V, Line 2a FILING OF THE FORM W-3 THE FORM W-3 IS FILED ANNUALLY BY THE JOCKEY CLUB, AN UNRELATED ORGANIZATION, ON BEHALF OF GRAYSON-JOCKEY CLUB RESEARCH FOUNDATION. Form 990, Part VI, Line 1a Delegate broad authority to a committee Article V, Section 2: An Executive Committee shall be appointed at each annual meeting of the Board and shall consist of such number of directors as is determined from time to time by resolution of the Board. The Executive Committee shall include the Chairman of the Board of the Corporation. Each member of the Executive Committee shall hold office for one year and until the election and qualification of his or her successor. The Executive Committee shall between meetings of the Board have and exercise all powers of the Board which are not specifically required by law or by these Bylaws to be exercised by the Board. Form 990, Part VI, Line 6 Classes of members or stockholders The membership of the Corporation shall consist of six classes, as follows: Annual Members, Supporting Members, Sustaining Individual Members, Organization Members, Friends of Research and Benefactors. The designation and characteristics of each class of members, and the qualifications and rights of, and the limitations upon, the members of each class shall be set forth from time to time by resolution of the Board of Directors. Each member shall be entitled to cast one vote in person or by proxy at any meeting of the members of the Corporation. Each member which is an organization shall designate a person who shall act as its authorized representative at membership meetings or on other occasions when voting is called for. No person may represent more than one organization as a member of the Corporation. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body DIRECTORS SHALL BE ELECTED BY VOTE OF THE MEMBERS AT THE ANNUAL MEETING OF MEMBERS, AT ANY ADJOURNMENT THEREOF, OR AT ANY MEETING INCLUDING NOTICE OF A DIRECTORS' ELECTION. EACH DIRECTOR SHALL ATTEND THE annual MEETING OF THE MEMBERS HELD AFTER THE ELECTION OF SUCH DIRECTOR AND THE ELECTION AND QUALIFICATION OF A SUCCESSOR. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 WAS PREPARED BY AN INDEPENDENT PUBLIC ACCOUNTING FIRM. A COPY OF THE FORM 990 WAS PRESENTED TO MANAGEMENT FOR REVIEW AND APPROVAL. IT WAS SUBMITTED TO THE BOARD AND REVIEWED BY THE CHAIRMAN AND TREASURER ON BEHALF OF THE BOARD PRIOR TO FILING WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy UPON HIRING, EVERY EMPLOYEE OF THE JOCKEY CLUB DIRECTLY AND THE FOUNDATION INDIRECTLY IS REQUIRED TO COMPLETE A FORMAL DISCLOSURE AND CONFLICT OF INTEREST REPORT. EMPLOYEES ARE REQUIRED TO INFORM MANAGEMENT OF ANY OWNERSHIP OF A THOROUGHBRED (IN WHOLE OR IN PART), ANY VESTED INTEREST IN AN ORGANIZATION RELATED TO THE THOROUGHBRED INDUSTRY, OR IF THEY PERFORM ANY THOROUGHBRED INDUSTRY RELATED SERVICES OUTSIDE THE SCOPE OF THEIR EMPLOYMENT. THIS IS AN ONGOING DOCUMENT AND THE EMPLOYEE IS REQUIRED TO UPDATE IT FOR ANY CHANGES THAT OCCUR IN A TIMELY MANNER. COMPLETION OF THE REPORT IS A CONDITION OF EMPLOYMENT. Board members and officers are required to complete an annual Conflict of Interest Disclosure Statement. Conflicts are reviewed by the board and board members recuse themselves from voting on issues for which there exists a conflict. There have been no such issues to date. Form 990, Part VI, Line 15a Process to establish compensation of top management official COMPENSATION FOR THE TOP MANAGEMENT OFFICIAL OF GRAYSON JOCKEY CLUB RESEARCH FOUNDATION IS PAID BY THE JOCKEY CLUB, an unrelated organization, AND RELATED SALARIES AND BENEFITS ARE BILLED TO THE FOUNDATION PURSUANT TO AGREEMENTS BETWEEN THE PARTIES. COMPENSATION CONSISTS OF TWO COMPONENTS, BASE SALARY AND INCENTIVE COMPENSATION. INCENTIVE COMPENSATION IS BASED ON THE ACHIEVEMENT OF A COMBINATION OF QUANTITATIVE AND QUALITATIVE GOALS THAT ARE APPROVED BY THE CHAIRMAN OF GRAYSON JOCKEY CLUB RESEARCH FOUNDATION AT THE BEGINNING OF EACH YEAR. THE OBJECTIVE OF THE COMPENSATION PROGRAM IS THAT THE COMBINATION OF THE BASE COMPENSATION PLUS THE INCENTIVE COMPENSATION AT 100% ACHIEVEMENT OF PRE-DETERMINED GOALS EQUATES TO MARKET BASED COMPENSATION. THE TREASURER AND THE CHAIRMAN OF THE JOCKEY CLUB BOARD OF DIRECTORS REVIEW THE COMPENSATION OF THE PRESIDENT ANNUALLY. THE TREASURER THEN PROVIDES THE PRESIDENT'S PROPOSED COMPENSATION TO THE CHAIRMAN OF THE GRAYSON JOCKEY CLUB RESEARCH FOUNDATION BOARD OF DIRECTORS. COMPENSATION FOR THE PRESIDENT IS APPROVED AND DOCUMENTED BY THE CHAIRMAN OF THE GRAYSON JOCKEY CLUB RESEARCH FOUNDATION BOARD. COMPENSATION OF COMPARABLE POSITIONS ARE REVIEWED IN THE DETERMINATION OF THE PRESIDENT'S COMPENSATION. THE COMPENSATION COMPARABILITY ANALYSIS WAS COMPLETED IN 2015 AND IS USED BY THE ORGANIZATION TO REVIEW AND DETERMINE COMPENSATION ON AN ANNUAL BASIS. THIS PROCESS WAS LAST COMPLETED and reviewed with the Chairman IN 2022. Form 990, Part VI, Line 15b Process to establish compensation of other employees COMPENSATION FOR THE OTHER OFFICER OF GRAYSON JOCKEY CLUB RESEARCH FOUNDATION IS PAID BY THE JOCKEY CLUB, an unrelated organization, AND RELATED SALARIES AND BENEFITS ARE BILLED TO THE FOUNDATION PURSUANT TO AGREEMENTS BETWEEN THE PARTIES. COMPENSATION CONSISTS OF TWO COMPONENTS, BASE salary AND INCENTIVE COMPENSATION. INCENTIVE COMPENSATION IS BASED ON THE ACHIEVEMENT OF A COMBINATION OF QUANTITATIVE AND QUALITATIVE GOALS THAT ARE APPROVED BY THE CHAIRMAN OF GRAYSON JOCKEY CLUB RESEARCH FOUNDATION AT THE BEGINNING OF EACH YEAR. THE OBJECTIVE OF THE COMPENSATION PROGRAM IS THAT THE COMBINATION OF THE BASE COMPENSATION PLUS THE INCENTIVE COMPENSATION AT 100% ACHIEVEMENT OF PRE-DETERMINED GOALS EQUATES TO MARKET BASED COMPENSATION. COMPENSATION IS APPROVED BY THE CHAIRMAN AND DOCUMENTED BY THE BOARD OF DIRECTORS WHEN THE ANNUAL BUDGET IS APPROVED. COMPENSATION OF COMPARABLE POSITIONS ARE REVIEWED IN THE DETERMINATION OF THE OTHER OFFICER'S COMPENSATION. THE COMPENSATION COMPARABILITY ANALYSIS WAS COMPLETED IN 2015 AND IS USED BY THE ORGANIZATION TO REVIEW AND DETERMINE COMPENSATION ON AN ANNUAL BASIS. THIS PROCESS WAS LAST COMPLETED and discussed with the Chairman IN 2022. Form 990, Part VI, Line 19 Required documents available to the public THE FOUNDATION MAKES ITS IRS DETERMINATION LETTER AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS HEAD OFFICES. ANY INDIVIDUAL REQUESTING A COPY OF the DOCUMENTS IS PROVIDED THAT COPY ON THE SAME BUSINESS DAY. THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND AT THE ORGANIZATION'S DISCRETION. Form 990, Part VII, Section A COMPENSATION OF OFFICERS COMPENSATION FOR EACH OF GRAYSON-JOCKEY CLUB RESEARCH FOUNDATION'S OFFICERS IS PAID BY THE JOCKEY CLUB, AN UNRELATED ORGANIZATION, AND THE RELATED SALARIES AND BENEFITS ARE BILLED TO THE FOUNDATION PURSUANT TO AGREEMENTS BETWEEN THE PARTIES. Form 990, Part XI, Line 9 Other changes in net assets or fund balances recovery of grants paid - 12536;