FORM 990, PART VI, SECTION A, LINE 2 |
DUE TO THE NATURE OF THE INDUSTRY, IT IS POSSIBLE THAT CERTAIN DIRECTORS COULD HAVE BUSINESS RELATIONSHIPS WITH ONE ANOTHER. |
FORM 990, PART VI, SECTION A, LINE 6 |
KTOB IS COMPRISED OF MEMBER THOROUGHBRED OWNERS AND BREEDERS. |
FORM 990, PART VI, SECTION A, LINE 7A |
KTOB IS COMPRISED OF MEMBER THOROUGHBRED OWNERS AND BREEDERS WHO ELECT BOARD MEMBERS. |
FORM 990, PART VI, SECTION B, LINE 11B |
THE EXECUTIVE DIRECTOR AND ASSISTANT TREASURER REVIEWS, APPROVES, AND SIGNS FORM 990. THE ORGANIZATION MAKES FORM 990 AVAILABLE FOR INSPECTION BY THE BOARD UPON REQUEST. |
FORM 990, PART VI, SECTION B, LINE 12 |
THE ORGANIZATION OBTAINS CONFLICT OF INTEREST DISCLOSURE STATEMENTS FROM OFFICERS AND DIRECTORS ANNUALLY. BOARD MEMBERS ARE REQUIRED TO RECUSE THEMSELVES FROM THE DISCUSSION AND/OR VOTE IF A CONFLICT ARISES. |
FORM 990, PART VI, SECTION C, LINE 19 |
THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND AT THE DISCRETION OF THE BOARD OF DIRECTORS AND MANAGEMENT. THE ORGANIZATION DOES NOT HAVE A CONFLICT OF INTEREST POLICY. |
FORM 990, PART VII |
THE EXECUTIVE DIRECTOR SPLITS HIS TIME BETWEEN THE ORGANIZATION AND A RELATED ORGANIZATION, KENTUCKY THOROUGHBRED ASSOCIATION, INC. HE SPENDS APPROXIMATELY 20 HOURS A WEEK ON EACH ORGANIZATION. |
FORM 990, PART XII, LINE 2C: |
THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT AND THE SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |