AQHA’s Financial Health
AQHA’s core numbers for 2014 tell a distinct story.
“We are coming out of some of the toughest years in AQHA history, and we’re moving in the right direction,” AQHA Treasurer & Acting Chief Operating Officer Trent Taylor told AQHA members at the 2015 AQHA Convention in Fort Worth, Texas.
Trent added, “For those of you who normally sleep through the treasurer’s report there are three things I want you to remember:
- The audited financials show an increase in assets of $6.6 million.
- Net assets increased by almost $5 million; $1.9 million of that was the Association by itself.
- There are many positive signs for our industry and this report will reflect those.”
The entire consolidated financial statements are included in the annual report on the website. The audited financial statements are also available individually on the AQHA website. In addition, AQHA directors receive quarterly financial statements to keep them informed on the financial status of AQHA so they will have that information to pass along to the members.
“Please keep in mind that to be in compliance with Generally Accepted Accounting Principles (GAAP), our audited financial statements must be a consolidation of the Association, the Foundation, the AQHA Incentive Fund, the Bank of America Racing Challenge and the Robin Glenn Pedigrees, even though we account for all of these as separate companies,” he said.
Here are a few statistics from Trent’s presentation:
- In 2014, registration numbers were up at 83,146 from 74,114 in 2013, 10,000 more than expected. That’s a 12 percent increase.
- Transfers were at 123,516 in 2014, up from 122,864 in 2013.
- For the first time since 2004, stallion breeding reports through the deadline show an increase, although slight, in the number of mares bred.
- We had an increase in the total number of entries at our shows. Equestrians With Disabilities led the way with the biggest percentage increase followed by youth and amateur entries. Combined show and special-event entries reached 963,525.
- In racing, total purses for American Quarter Horses ticked up seven-tenths of a percent to more than $126.5 million and average handle increased eight-tenths of a percent to nearly $292 million, which is a true reflection on the health of American Quarter Horse racing. Better news for owners came in the form of an increase of average purse per race (up 5.3 percent to nearly $16,000) and average earnings per starter (up 1.6 percent to $8,100).
To read the full article on AQHA.com, click here.