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Financial Improvement Continues at TWHBEA



By Jeffrey Howard

The Tennessee Walking Horse Breeders’ & Exhibitors’ Association (TWHBEA) held its International Board of Directors meeting on December 5, 2015 at the headquarters in Lewisburg, Tenn.  The association has struggled with decreasing revenues over the past several years but under the recent leadership of President Steve Smith the economic condition of TWHBEA has stabilized and improved.

Goals for 2015 included conserving cash, operating within the budget and to explore new revenue streams and operating cost reductions without headcount or program impact.  The executive committee was successful as cash increased by almost $19,000 in 2015 and the association has just under $400,000 in the bank.  Approximately $100,000 resides in the operating account, $41,000 in the horse show account and $254,000 in CDs.

The year-to-date net income of the association is $38,597.88 which is roughly $32,000 better than budget.  Year over year income increased by $16,500 in the registry and membership, $28,000 in G&A and Voice, $16,000 in horse shows, mainly attributable to the Belfast Horse Show and $13,000 in Futurity, Marketing and Programs.  Revenue from registrations increased by $27,000 and from transfers by $11,000.

The new international board of directors approved a breakeven budget for 2016.  The budget assumes between 2,400 and 2,500 registrations, 4,200 to 4,300 transfers and 5,500 members.  Currently TWHBEA has approximately 6,500 members but close to 700 of those are lifetime members.  

A recent positive addition to the revenue of TWHBEA is the license plate revenue from the state of Tennessee and the budget for 2016 includes $54,000 from this source.  Another change is the Voice printing will remain outsourced but ad sales will be managed by Executive Director Rory Williams.

During his Breeders’ Division report, David Williams highlighted the success of the 2015 National Futurity.  Payouts at the 2015 Futurity increased to $47,000 from $36,000 in the previous year.  The stallion auction as part of the Futurity has been a success and has averaged about $18,000 per year.  Another increase which Williams estimated at around $80,000 over the last couple of years is attributed to the Stallion Report filing fee and requiring membership to file.  In the past approximately a third of the filings came from non-members of TWHBEA.

Ford Gates updated the directors on the success of the 2015 TWHBEA/Belfast Lions Club Horse Show.  TWHBEA was instrumental in bringing this show, which had dropped from the schedule, back to life.  TWHBEA cleared $12,000 on the horse show and the Belfast Lions Club made $4,200 from the show.  Gates listed the repeat of the Belfast Horse Show and launching a TWHBEA International High Point Program as goals for 2016.

In her Pleasure Horse report, Margo Urad pointed out the profit of $4,000 from the World Versatility Show in 2015 a change from a $6,000 loss in 2014. Moving forward Urad outlined a TWHBEA World Series Qualifying show series whereby shows in different regions of the country can participate in the TWHBEA World Series and have entries qualify to come to the TWHBEA World Series.  In 2016 the World Versatility Show will be two days and the rail classes as part of the World Series Championship will be held prior to The Celebration.  In future years the goal is to bring all of the versatility and rail classes in the pleasure division as part of the TWHBEA World Series.

The following slate of officers was selected by the TWHBEA Nominating Committee and elected with no opposition:
President – Steve Smith
Senior Vice-President – Charles Gleghorn
Admin/Fiscal – Nancy Lynn Green
Bylaws/Enforcement – Robin Webb
Youth – Ginger Evans
Owners/Exhibitors/International – Dr. Bradley Woodruff
Breeders’ – David Williams
Performance Horse – Ford Gates
Marketing – Ashley Wadsworth
Pleasure Horse – Margo Urad
Training/Equine Welfare – Larry Lowman
Secretary - Loren Sanderson

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