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Breeders Invitational FY2021 filing

Not tax-deductible

Bakersfield, CA501(c)(5)Since 1999Food & AgricultureEIN 94-3288983Revenue $3.5M in FY2021

On file with the IRSbreedersinvitational.comPo Box 9398, 93389-9398 · Bakersfield, CATax-exempt since Jul 1999

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To encourage, promote, advertise and develope cutting horses.

501(c)(5) labor or agricultural organization; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(5)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $70K a year · 3% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
1 mo
of spending, in cash
Plus $619K in investments, Pt X · Ln 11–13
Fine: 1.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.5M
+605% vs prior year
Spent
$3.6M
Net assets
$987K
By yearFY2020–FY2025
Revenue
$3.5M
FY2021▲ +605%
Tap a bar for its year
Revenue by fiscal year
FY2020$492K
FY2021$3.5M
FY2022$2.2M
FY2023$2.4M
FY2024$2.8M
FY2025$3.1M
Expenses
$3.6M
FY2021▲ ×18
Tap a bar for its year
Expenses by fiscal year
FY2020$206K
FY2021$3.6M
FY2022$2.3M
FY2023$2.4M
FY2024$2.5M
FY2025$2.9M
Net assets
$987K
FY2021▼ -11%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.1M
FY2021$987K
FY2022$663K
FY2023$685K
FY2024$990K
FY2025$1.1M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1999.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Dustin Adams
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Linda Holmes
Director
$0Pt VII · Sec A
Billy Martin
Director
$0Pt VII · Sec A
Robert O'Bannon
Secretary/Treasurer
$0Pt VII · Sec A
See Breeders Invitational executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes and develops cutting horses through encouragement and advertising.

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1 program · in their own filed words · FY2021
01

Annual cutting horse event held during may in tulsa, oklahoma

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.5M
Ln 12
Fees for servicesLn 2g$2.9M
Gifts and grantsLn 1h$497K
Investment incomeLn 3$33K
Money outPt IX
$3.6M
Ln 25
Owns and owesPt X
$987K
net assets · Ln 32
Cash and savingsLn 1–2$368K
Total assetsLn 16$987K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$497K
Fees for servicesLn 2g$2.9M
Investment incomeLn 3$33K
Total revenueLn 12$3.5M
Assets in detailPt X, end of year
CashLn 1$368K
Cash and savings togetherLn 1–2$368K
InvestmentsLn 11–13$619K
Total assetsLn 16$987K
LiabilitiesLn 26$0
Net assetsLn 32$987K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$284K$368K
InvestmentsLn 11–13$824K$619K
Total assetsLn 16$1.1M$987K
LiabilitiesLn 26$0$0
Net assetsLn 32$1.1M$987K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$108K
Accounting feesLn 11c$8K
Other fees for servicesLn 11g$185K
Advertising and promotionLn 12$41K
Office expensesLn 13$11K
OccupancyLn 16$10K
TravelLn 17$3K
InsuranceLn 23$2K
Other expenses (24a–d)Ln 24$3.1M
All other expensesLn 24e$133K
Total functional expensesLn 25$3.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.1M$2.9M$147K$1.1M 990 PDF
FY2024 $2.8M$2.5M$299K$990K 990 PDF
FY2023 $2.4M$2.4M−$57K$685K 990 PDF
FY2022 $2.2M$2.3M−$113K$663K 990 PDF
FY2021 Viewing $3.5M$3.6M−$143K$987K 990 PDF
FY2020 $492K$206K$286K$1.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $3,466,800 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $398,797$497,442
I-9 Program service revenuePrior year $76,877$2,936,264
I-10 Investment incomePrior year $16,202$33,094
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $491,876$3,466,800
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $205,743$3,609,703
I-18 Total expensesPrior year $205,743$3,609,703
I-19 Revenue less expensesPrior year $286,133−$142,903
Part VI · Governance 7 of 7 board members independent, 5 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $3,466,800 across 5 lines filed
VIII-1b Membership dues$497,442
VIII-1h Total contributions, gifts and grants$497,442
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $2,936,264$2,936,264
VIII-3 Investment incomeExcluded from tax $33,094$33,094
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,969,358$3,466,800
Part IX · Statement of functional expenses $3,609,703 across 10 lines filed
IX-11a Management fees$107,500
IX-11c Accounting fees$8,237
IX-11g Other fees for services$184,667
IX-12 Advertising and promotion$41,273
IX-13 Office expenses$11,219
IX-16 Occupancy$9,600
IX-17 Travel$2,837
IX-23 Insurance$1,787
IX-24 Other expenses (24a–d)$3,109,619
IX-24e All other expenses$132,964
IX-25 Total functional expenses$3,609,703
Part X · Balance sheet $987,071 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $283,621$367,679
X-9 Prepaid expenses and deferred chargesStart of year $800$300
X-12 Other securitiesStart of year $823,961$619,092
X-16 Total assetsStart of year $1,108,382$987,071
X-26 Total liabilitiesStart of year $0$0
X-28 Net assets with donor restrictionsStart of year $1,108,382$987,071
X-32 Total net assets or fund balancesStart of year $1,108,382$987,071
X-33 Total liabilities and net assetsStart of year $1,108,382$987,071
Part XI · Reconciliation of net assets $987,071 net assets at year end
XI-1 Total revenue$3,466,800
XI-2 Total expenses$3,609,703
XI-3 Revenue less expenses−$142,903
XI-4 Net assets at start of year$1,108,382
XI-5 Net unrealized gains (losses) on investments$21,592
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$987,071

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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