MASSACHUSETTS THROUGHBRED BREEDERS ASSOCIATION

Minutes

 

Annual Meeting, October 23, 2007

Vinny Testa’s

Dedham, Massachusetts

 

President George Brown called the meeting to order at   7:30 PM.

 

 Board Members Present

Absent

Guests

Brown, George - Chair

Szymt, Gus

Brown, Arlene –Recording Secretary

Robbins, Harland-Treasurer

 

Robbins, Bill Accountant

Benson, Michael

 

Stone, Ed

Dirico, Joe

 

McDonnell, Ed

Dullea, Shirley

 

Reagan, Kathy

Janjigian, Armand

 

Ferguson, Margaret

Joyce, Daniel

 

Joyce, Beverly

Loebelenz, Lee

 

 

Rose, Gregg

 

 

Salim, Adel

 

 

Spadea, Anthony

 

 

 

 

 

 

1.) Secretary’s Report:

Minutes from September 20, 2007 reviewed by board

Motion to accept minutes:  Anthony Spadea    Second: Motion:  Mike Benson    Carries: Unanimous    

 

2.) Treasurer's Report

Mr. Harland Robbins reviewed the progress on state audit reports.  He explained that previous reports had a not acceptable rating and that over the last couple years our rating was brought up to an A+ rating on the last audit earning us congratulations from the state audit board. 

 

Mr. Harland Robbins then reviewed the status of the IRS leans against MTBA explaining to the membership that a couple years ago it was brought to the attention of MTBA that we were about to have our bank accounts frozen for non compliance.  Since then, Mr Harland Robbins and Mr. William Robbins have been working to clear up the misunderstandings and the non-compliance issues that resulted in about $70,000 in taxes, penalties and interest.  To this date four of those appeals by MTBA have been resolved in our favor and only one is left to be resolved.  The one left is only about $4,000.  Because we had put aside in our unrestricted bank account $70,000 to cover the leans in case we had to pay them, the board had voted to move $60,000 of that money into the awards account in order to be able to run a couple more stake races. 

 

Mr. William Robbins discussed the financial position of the MTBA and explained that we are financially healthy at the moment but that we brought in about 4% less income that originally projected.  His report shows we will have about a $60,000 shortfall this year and that at the moment we have spent about 95% of our current year’s income.  Last year we spent about 114% of 2006 income which makes us about break even for this year.  He strongly recommends that we do not run the 13th (the Mass Stallion Stake race) this year as the race would cost us $59,450 counting the breeder awards.

 

Motion to accept treasurer’s report:  Anthony Spadea   Second:  Armand Janjigian 

Carries:  Unanimous         

 

Mr. Ed Stone expressed disapproval with a decision to drop the stallion stake race.  He feels that it will generate bad publicity and will impair the desire to bring new stallions into the state.

 

Mr. H. Robbins disagrees with Mr. Stone stating that the race was never scheduled by MTBA and that there has been a disclaimer on the web site stating that this race would be run only if funds allowed.  He also feels that our indemnity insurance would not cover law suits if we run the race against good judgement and run into financial difficulty paying out awards.

 

Some members asked Mr. Brown to speak to Mr. Fields and ask for help to cover the race since Mr. Fields had previously expressed a desire to help out the Mass breeders.  Mr. Brown expressed reluctance to do this but said he would if that’s what the board decided. 

 

Mr. Adel Salim mentioned that he had probably more than anyone to gain by running the stallion race since he has several horses elegible for that race but he felt embarrassed about asking for charity from Mr. Fields.

 

The board decided not to approach Mr. Fields.

 

Ed Stone will look into a grant from the Amelia Peabody Foundation since we are a federally recognized non-profit organization.

 

Part of the reason for the shortfall as Mr. George Brown explained is due to the increase in stake purses from $40,000 to $45,000. The payouts for each stake race have gone from about $53,000 to about $59,000 when you include the breeder awards.  (Next year the stake races will increase to $50,000 making the payoff  as much as $65,500).  As Mr. Brown explained our income is somewhat stagnant as we get our income from a percentage of the live and simulcast handle which has not been increasing.

 

3.) Chairman’s notes and comments

a)Mr. Brown mentioned that he has had several meetings with the HBPA and  Chip Tuttle and that the lines of communication are being maintained.

 

b) There is a meeting set up for Nov 2, 2007 at the lottery commission concerning the new horse wagering game.  Mr. Brown is trying to set up a meeting prior to that date with HBPA and Mr. Fields representatives so that they will all be speaking with the same voice at the lottery meeting.

 

c) The Amelia Peabody Stake race has been postponed to November 3.  There were only 6 fillies entered and 3 do not have their gate cards yet.  This gives an extra week for these horses to get cards and be elegible.

 

d) The question of releasing membership lists was discussed.  The board does not want to do this and will ask anyone who has mailings to forward the material to us and we will make arrangements with Sir Speedy to mail it out.  Sir Speedy has the Suffolk Downs mail list.  Everyone in MTBA is also on the Suffolk Downs list.  George will check with Chuck Andrade about making arrangements for this.

 

4.)Old Business

a.)    The  changes in by-laws were reviewd by the members.  A short discussion ensued.

 

Motion to accept by-laws: Armand Janjigian   Second:  Mike Benson    Carries : Unanimous

 

b.)    Election of directors:

Shirley Dullea, Margaret Ferguson, Dan Joyce, and Frank Catapano were elected for 3 year terms to the board.

 

Kathy Reagan, Ed Stone and Ed McDonnell were elected to 1 year terms as alternates.

      5) New Business

a.)    The job description for the position of Financial Director is distributed.  Mr. William Robbins requests the deletion of the words “ by signing” from item 2 under Duties and Responsibilities since all signing must be done by the secretary/treasurer of MTBA.

 

A contract is signed by Mr. Harland Robbins to accept this position for the coming year.

 

      b) The board approved the buying of MTBA letterhead and envelopes.

 

      6) Next Meeting:  Monday November 12, 2007 at Vinny T’s 6:30 PM

 

      7). Adjournment of regular meeting: 9:00PM 

 

      Motion from:Anthony Spadea   Second: Dan Joyce   Carries:  Unanimous

 

      8.) Executive Session

      The board met in executive session to elect officers for the coming year.

            George Brown is elected Chairman

            Anthony Spadea is elected Secretary/Treasurer

 

      9.) Adjournment of executive session:   9:20PM

 

      Motion from:Anthony Spadea   Second: Frank Catapano   Carries:  Unanimous

 

Respectfully Submitted:

 

 

 

Arlene B. Brown