Futurity Funds Distribution
FUTURITY FUNDS DISTRIBUTION COMMITTEE
The Gold Cup Futurity program was suspended a few years ago due to lack of participation. On December 31, 2019 the program was officially closed.
The Gold Cup Futurity rules state: “There are no refunds from the Futurity funds. All funds become the property of the Futurity program. In the event the Futurity Program is dissolved, closed, or cancelled all remaining funds will be donated to or distributed to one or more non- profit equine organizations. Anyone who participates in this program in any manner accepts these rules without recourse”.
The Futurity Funds Distribution Committee will be created.
- The members of the committee will be volunteers who are GVHS members and who also participated in and contributed funds into the Futurity program. No committee member can be an organizer, board member, officer or employee of any organization requesting funds, nor an immediate family member of any of the above.
- A Non- Profit Equine Organization Funds Request form will be available to submit requests for funds.
- Request forms will be received and forwarded to the committee for review from non- profit equine organizations located in the USA and Canada.
- During the 4th quarter of the year the committee will review all funds requests. The committee will review documents to determine qualification to receive funds, proof of non- profit status etc. The committee may communicate and meet by email and GVHS teleconference.
- The committee will determine what amount, if any, will be donated to any of the organizations requesting funds. Any organization can be denied funds for any reason regardless of status. Amounts donated to an organization may be in any amount determined by the committee.
- The distribution amount must be approved by a majority vote of the committee.
- Any donations approved will be sent to the GVHS Treasurer to issue a check to the organization.
- This committee will work independently from the GVHS board of Directors. One Director will be assigned by the GVHS board to review the organizational documents and fund request of any approved organization as a GVHS representative to ensure compliance with the futurity and the committee rules. The Director will not vote on funds distribution approvals.
- Funds can be awarded in any increment. Any remaining funds will roll over into the next year and organizations may apply again and new organizations may apply during the next calendar year. Once the funds currently in the account are disbursed, the Futurity Funds Distribution Committee will be dissolved.
If you are a GVHS member, qualify per item #2 and are willing to serve on this committee please contact the GVHS office at email@example.com