C O N T E N T S
2015 AQHA Annual Report
2
President’s Message
4
Horse Statistics
7
Membership Statistics
10
Show Statistics
13
Publications Statistics
15
Racing and Challenge Statistics
16
Programs & Services Information
17
Financial Statements
inside
back cover
Past Presidents
AQHA 2015-2016
Executive Committee
President Dr. Glenn Blodgett, Guthrie, Texas
First Vice President Sandy Arledge, Encinitas, California
Second Vice President Ralph Seekins, Fairbanks, Alaska
Member Stan Weaver, Big Sandy, Montana
Member Dr. Jim Heird, College Station, Texas
2
P R E S I D E N T ' S Letter
Dear AQHA Members,
Seventy-five years ago, a few great horsemen and -women shared a meal and a common goal – to preserve a line
of horses that today we know as American Quarter Horses. These horsemen were looking to improve the future
for our great horse and whether they knew it or not at the time, their work would forever change the equine
industry. Today, the American Quarter Horse is the world’s most popular breed, and I am proud to say that we
have nearly 6 million registered American Quarter Horses across the globe. These founding fathers of this great
Association set out to improve AQHA and the equine industry as a whole, and that they did.
This past year was a memorable milestone for the American Quarter Horse Association. AQHA celebrated its 75th
anniversary, and it was a goal during my presidency to learn from the past 75 years and take the necessary steps
to ensure our Association will continue to flourish in the future.
New Chapter for AQHA
Quickly after I began my presidency, Craig Huffhines, former executive vice president of the American Hereford
Association, began his new role as AQHA executive vice president. After a five-month, extensive search involving
a six-member search committee and executive search firm Witt/Kieffer, Craig began his duties on April 1. Craig
hit the ground running and has not stopped since. I couldn’t be more pleased with Craig’s enthusiasm, knowledge and passion for the equine industry.
With the new executive vice president came more leadership changes in October 2015, with the creation of the AQHA Leadership Team, consisting of six
chief officers:
•Treasurer and Chief Operations Officer Trent Taylor
•Chief General Counsel Chad Pierce
•Chief Show Officer Pete Kyle
•Chief Marketing Officer Lauren Walsh
•Chief Foundation Officer Brent Davison
•Chief Publishing Officer Carl Mullins
Our goal in restructuring Association management is to deliver high-quality services and programs to our members and partners more efficiently and
effectively than ever before. These individuals and their teams are truly talented. I believe that AQHA and the Foundation, through the leadership abilities
and skills of Craig and these six chief officers, along with their supporting staff, great things are in store for our Association in the future.
Continuing to Put Our Horse First
The health and well-being of the American Quarter Horse remains one of AQHA’s utmost priorities. In 2015, the AQHA Executive Committee continued to
make huge strides for the benefit of the American Quarter Horse by taking a stand on animal welfare for the protection of the horse and for the future of
the breed. Welfare topics were discussed and reviewed by AQHA members, the AQHA Animal Welfare Commission, the AQHA Show Committee, AQHA
Show Council, the AQHA Racing Committee and AQHA Racing Council, before ultimately going to the Executive Committee for final review and approval.
The abuse of medication in the racing American Quarter Horse industry continues to be a serious animal welfare issue. In 2014, AQHA implemented the
Multiple Medication Violation System in the racing industry. With any new program or rule, the Association continually evaluates the cost and benefit of
the program to ensure that resources are devoted in the most effective way for achieving the goals of the program. The AQHA Executive Committee
recently decided that the time is right to conduct a thorough evaluation of the MMVS prior to allocating additional resources to the program. During the
temporary suspension of the MMVS program, AQHA will continue to collect medication violation data on American Quarter Horses for the purpose of
tracking violation trends. Additionally, AQHA will continue its ongoing efforts to further the safety and welfare of our horses and to assure fairness of competition by implementing testing through the collection of hair samples for the Association’s Racing Challenge program, beginning in April 2016 with the
regional races and all championship races. I believe it is imperative that we address the performance-enhancing drugs in our industry because we continue to see an incredible number of clenbuterol rulings from multiple jurisdictions, which is simply unacceptable. We are confident that following the
evaluation of the MMVS and the many complicated issues that have been identified since its inception, we will develop even more positive steps that can
be taken to address the problem of medication abuse in racing and ensure that the American Quarter Horse racing industry thrives in the future. AQHA took a strong stand against the abusive use of clenbuterol in show horses, as well. Clenbuterol became a banned substance for show horses on
November 1, 2015, and is no longer reportable on a medication report form. To deter the use of clenbuterol, the Executive Committee approved significant
fines and penalties for its use (First offense = $5,000 fine, disqualification of horse and 180-day suspension of responsible party).
Additional advancements for animal welfare include the continuous evaluation of tack and equipment and whether its use is considered appropriate for
training and/or showing; modification of the AQHA Stewards Program; and development of a new animal welfare page on AQHA.com.
As you know, we took a strong position and eliminated the use of lip chains at AQHA events starting in 2016. This was done for the benefit of our horses
and to help ensure our industry is viewed as putting the welfare of the horse first by new owners and members. I was pleased to work with AQHA members,
along with the leaders of AQHA alliance partner the World Conformation Horse Association, to review potential options and alternatives. The Executive
Committee approved the humane alternative, a lip cord, in amateur and open halter classes for stallions, ages 1 year old and older only.
P R E S I D E N T ' S Letter
3
Under the AQHA Stewards Program’s modifications, stewards will be assigned to specific regions, will no longer be permitted to actively show in AQHA
competition and will be required to attend steward seminars to expand their knowledge on animal welfare. Additionally, the number of stewards has been
reduced to allow for more continuity in stewarding decisions. The new animal welfare Web page contains lists of violations and suspensions, along with
newly approved fines and penalties. The animal welfare page further discusses additional animal welfare initiatives, including the AQHA Stewards Program,
owner responsibility and more. Our goal is to continue to educate both members and non-members on the issue of animal welfare.
It is our responsibility to protect the safety and welfare of our horses, horsemen and industry.
Fiscal Responsibilities
AQHA’s finances are always an important topic. As we have seen our industry evolve dramatically over the past decade, we must continue to change our
business model to remain fiscally responsible. I am proud of the expansion of AQHA into additional entities like Robin Glenn Pedigrees Inc. and Awards
Recognition Concepts. Even though the market had a negative effect on the financials at our year end, I am proud that the operating revenues and
expenses have remained stable compared to the prior year. We continue to reinvest back into the Association and our industry to build a foundation for
the future.
Cloning Lawsuit Update
As we reported to you at last year’s Convention, the United States Court of Appeals for the Fifth Circuit issued its opinion in the cloning lawsuit on January
14, 2015. The opinion reversed the District Court’s judgment and held that the Plaintiffs’ claims against AQHA fail both because the Plaintiffs’ evidence did
not prove a conspiracy to restrain trade and because AQHA is not a competitor in the allegedly relevant market for elite Quarter Horses. After the Fifth
Circuit issued such opinion, the Plaintiffs filed a petition for rehearing. We were delighted to report to you this past October that the Fifth Circuit entered
an order denying the Plaintiffs’ petition for rehearing and leaving intact its previously issued and well-reasoned opinion in favor of AQHA.
Our staff and legal teams devoted countless hours fighting in support of AQHA’s position that when members with shared interests, goals and values come
together to form a voluntary private association to serve a common purpose, such members have a right to determine the rules for their Association. The
decision of the Fifth Circuit allowed the Association to focus on growing registrations, transfers, membership and other activities that are important to our
members and to our future as an Association.
Moving Forward as an Association
In 2015, we spent time completing an in-depth survey of our membership to obtain important demographic information, along with asking questions
about buying habits and preferences for certain brands and stores in the United States. We were honored by the great many of you who took time out of
your busy schedules to complete the survey and support the future endeavors of AQHA. In reviewing the research, we learned many things about you, our
current members, and also found our eyes opened to areas of potential growth and opportunity in the Association’s future. The data on spending habits is
very valuable to both current and potential sponsors of the Association, and we plan to use it to continue creating the best member benefits package possible for AQHA members. After all, the Association would not be where it is today without our great horse, valued members and generous corporate partners.
Those who know me well know that I am a man who lives and breathes the American Quarter Horse. The horse has not only been my livelihood for nearly
50 years, but it has also helped raise my children and created for my wife, Karen, and me a family that goes beyond the bond of blood.
I always knew that our American Quarter Horse family was important, but it was during this presidential year that I truly learned of its significance. Many
of you know that my wife, Karen, was in a terrible car accident at the end of September that almost took her life. Over these past five months of her recovery, my family and I truly believe the phone calls, emails, text messages and, most importantly, prayers that came from all of you are what were able to keep
us going and to aid in Karen’s recovery. This great American Quarter Horse that bonds us all together in life has proven to be a remarkable gift in a way I
never expected to need. I sincerely thank each and every one of you who reached out and who prayed for my family, because your friendship has made all
the difference.
I have enjoyed serving as your 2015 AQHA president and on the AQHA Executive Committee. I will continue to support the American Quarter Horse industry for years to come and look forward to seeing the bright future of our organization.
Sincerely,
Dr. Glenn Blodgett
AQHA President
4
H O R S E Statistics
U N I T E D S TAT E S P O P U L AT I O N
HORSE POPULATION 1
C A N A D I A N P O P U L AT I O N
NEW REGISTRATIONS 2
CHANGE FROM
CHANGE FROM
2015
PREVIOUS YEAR
2015
PREVIOUS YEAR
Alabama
45,693-1,202
791 -158
Alaska
1,457-54 20 2
Arizona
51,860 279 1,165-145
Arkansas 54,743-808 1,291 -34
California 116,634-2,528 3,061 -344
Colorado
83,079-1,640 1,747 -191
Connecticut 2,629-117
12 -4
Delaware 1,043-31 12 -1
Florida
53,990 -351 1,137-165
Georgia
42,458-1,053
769 -105
Hawaii
2,779-59 54 -8
Idaho
62,495 -414 1,716-102
Illinois
39,307-1,063
734 -169
Indiana
36,511-1,223
621 -183
Iowa
65,450 -958 1,606-208
Kansas
73,497-1,183 1,659 -386
Kentucky 33,023-670 647 -34
Louisiana
54,781-1,345 1,699 -264
Maine
2,591-133
19 -16
Maryland
5,977-246
74 -22
Massachusetts2,747 -106
20 -3
Michigan 29,721-808 502 -35
Minnesota 47,085 -857
910-231
Mississippi 43,584-787 852 -46
Missouri
96,878-1,338 1,881 -452
Montana 87,052103 2,551-86
Nebraska 79,774 -233 2,534-100
Nevada
20,007-274 494 -46
New Hampshire
1,566
-7
9
-1
New Jersey
4,632
-271
52
-7
New Mexico
49,212
-960
1,332
-22
New York
16,549
-499
196
-6
North Carolina
35,158
-1,026
505
-155
North Dakota
49,623
-41
1,544
-336
Ohio
44,257-1,188
791 -140
Oklahoma 116,361-52,502
4,896 -280
Oregon
49,391 -918 1,110-148
Pennsylvania25,971 -694
418 -98
Rhode Island
431
-23
2
1
South Carolina
16,417
-479
210
-73
South Dakota
79,506
97
2,588
-346
Tennessee 43,825-1,179
761 -133
Texas
420,179-1,510 13,275 -915
Utah
57,803 -217 1,577-209
Vermont 1,951-42 17 6
Virginia
19,659-442 280 -15
Washington 46,861 -662
952-154
Washington D.C.
113
-6
1
1
West Virginia
8,504
-265
134
-38
Wisconsin 33,747-623 617 -83
Wyoming 56,827 -144 1,437-271
TOTAL US
POPULATION2,415,388 -82,700
61,282
-6,958
HORSE POPULATION 1
NEW REGISTRATIONS 2
CHANGE FROM
2015
PREVIOUS YEAR
2015
CHANGE FROM
PREVIOUS YEAR
Alberta
110,425 442 3,102-436
British Columbia 25,082
-182
575
-67
Manitoba 24,709 279
812-114
New Brunswick
1,364
9
15
0
Newfoundland60 3
0 0
Northwest Territory
2
-1
0
0
Nova Scotia
2,205
-21
28
-12
Ontario
23,070 -606
411-114
Prince Edward Island 461
-18
5
1
Quebec 12,512 -38 296-74
Saskatchewan46,352
60
1,254 -526
Yukon
95 0 10
Total Canadian
Population 246,337 -73
6,499-1,342
I N T E R N AT I O N A L P O P U L AT I O N
HORSE POPULATION 1
NEW REGISTRATIONS 2
CHANGE FROM
2015
PREVIOUS YEAR
2015
CHANGE FROM
PREVIOUS YEAR
Argentina 2,541-6 59 0
Australia
2,394126 123-10
Austria
5,250 60 168-40
Belgium
4,412141 221 21
Brazil
5,616 92
203-160
Chile
296 6
1-4
China
8512
0 0
Colombia
1,155135
77 19
Costa Rica
178
43
12
-4
Czech Republic
2,288
103
123
-33
Denmark 1,294 3 429
Dominican Republic
148
3
1
-1
Finland
340 11
8-10
France
8,977192 402-60
Germany
37,273 354 1,243-212
Hungary
524 26
22-29
Ireland
110 -5
2-2
Israel
2,608120
44 0
Italy
24,490266 987-83
Japan
50114 14-2
Luxembourg 352 8 206
Malaysia
0-59
0 -1
Mexico
38,060 -295 1,455-164
Netherlands 3,814 37 115-16
New Zealand
445
13
19
-8
Norway
467 5
5-4
Panama
755 40
32-21
Paraguay
516 1
1-14
Poland
781 64 6917
Portugal
82 4
2-1
Puerto Rico
126
-6
2
1
Slovakia
64856 55 2
Slovenia
631 34
32-20
South Africa
238
19
15
6
Spain
591 71 2710
Sweden
3,508121 143 30
Switzerland 3,15464 91-2
United Kingdom
3,207
52
78
-22
Uruguay
748-8 5 1
Venezuela 4,870365 316 -8
International
Population 163,4732,282 6,234 -809
INTERNATIONAL COUNTRIES WITH AMERICAN QUARTER HORSE POPULATION OF LESS THAN 50
TOTAL POPULATION & REGISTRATIONS
Albania
Coral Sea Islands Isle of Man
Nicaragua
Senegal
Ashmore &
Croatia
Liechtenstein
Netherlands
Seychelles
United States
2,415,388
-82,700
61,282
-6,958
Cartier Islands
Ecuador
Lithuania
Antilles
St Pierre &
Bahamas
Estonia
Macau
New Caledonia
Miquelon
Canada
246,337 -73
6,499-1,342
Bassas da India
Falkland Islands Madagascar
New Hebrides
Suriname
International163,870 2,298
6,249 -816
Belize
Georgia
Malawi
Oman
Thailand
Bermuda
Greece
Malta
Philippines
Turkey
GRAND TOTAL 2,825,595
-80,475
74,030
-9,116
Bolivia
Guadeloupe
Martinique
Romania
United Arab
Botswana
Guam
Monaco
Russia
Emirates
Bulgaria
Guatemala
Mongolia
San Marino
Virgin Islands
1Figures reflect elimination of all horses age 25 and over unless the
Cayman Islands Honduras
Namibia
Saudi Arabia
Yugoslavia
owners(s) submitted documentation proving the horse is living.
Comoros
Iceland
Niue
Serbia
Countries with less than 50 Population
2Reflects the number of American Quarter Horses registered during
39716 15 -7
2015 to residents within the state, province or country.
TOTAL INTERNATIONAL POPULATION
163,8702,298 6,249 -816
H O R S E Statistics
U N I T E D S TAT E S T R A N S F E R S
TO
FROMWITHIN
STATE STATESTATE
Alabama 590 836754
Alaska
35 1627
Arizona 1,210 9101,189
Arkansas 774 961846
California 1,943 1,7934,256
Colorado 1,723 1,2761,783
Connecticut87 62 55
Delaware 35 1525
Florida
1,220 9131,406
Georgia 783 758829
Hawaii
57 3698
Idaho
961 1,0071,309
Illinois
940 891699
Indiana
755 723812
Iowa
1,213 1,3621,285
Kansas
1,122 1,2901,274
Kentucky 724 870587
Louisiana 946 1,5701,323
Maine
64 2457
Maryland 172 13770
Massachusetts108
66
28
Michigan 702 560904
Minnesota 1,036 9521,036
Missouri 1,425 1,7201,857
Mississippi 686 767798
Montana 1,126 1,0611,628
Nebraska 1,357 1,4971,730
Nevada 448 344375
New Hampshire
79
36
38
New Jersey
148
139
62
New Mexico
1,108
1,031
1,145
New York
472
264
364
North Carolina
669
585
763
North Dakota
718
941
836
Ohio
1,091 9981,371
Oklahoma 2,874 4,0463,868
Oregon
837 8991,307
Pennsylvania797 487 783
Rhode Island
17
7
7
South Carolina
441
355
327
South Dakota
1,050
1,426
1,310
Tennessee 763 909750
Texas
6,383 7,92813,758
Utah
883 8341,360
Vermont 85 5436
Virginia 368 285287
Washington 898 7381,371
Washington D.C.
6
3
1
West Virginia
158
166
119
Wisconsin 663 537710
Wyoming1,3791,023 885
TOTAL
44,129 46,10858,498
TOP TEN STATES/PROVINCES*
1. Texas
2. California
3. Oklahoma
4. Alberta
5. Missouri
420,179
116,634
116,361
110,425
96,878
*Based on AQHA population records
6. Montana
7. Colorado
8. Nebraska
9. South Dakota
10. Kansas
87,052
83,079
79,774
79,506
73,497
5
6
H O R S E Statistics
CANADIAN TRANSFERS
TO
PROVINCE
I N T E R N AT I O N A L T R A N S F E R S
FROMWITHIN
PROVINCEPROVINCE
Alberta822
725
British Columbia
379
246
Manitoba195
325
New Brunswick
38
17
Newfoundland
5
2
Nova Scotia
62
31
Ontario355
306
Prince Edward Island
6
12
Quebec234
85
Saskatchewan 446
469
Yukon2
0
TOTAL2,544
2,218
2,755
696
384
38
3
63
802
6
716
777
0
6,240
TO
COUNTRY
FROMWITHIN
COUNTRYCOUNTRY
Australia 18 1452
Austria
17 4289
Belgium
17 1343
Brazil
90 3424
Columbia 31 049
Czech Republic
5
0
183
Denmark
0 188
France
20 2577
Germany
100 102,192
Israel
9 676
Italy
80 151,357
Mexico 1,150 124944
Netherlands 6 3236
Poland
5 154
Slovenia
1 049
Sweden
10 1300
Switzerland 21 8198
United Kingdom
22
8
143
Venezuela 219 44157
TOTAL INTERNATIONAL
TRANSFERS1,821
TOTAL OTHER
COUNTRIES
121
TO
COUNTRY
276 7,311
13325
FROMWITHIN
COUNTRYCOUNTRY
International Transfers 1,942
289
7,636
Canadian Transfers
2,544
2,218
6,240
U.S. Transfers
44,129
46,108
58,498
Total U.S., Canada & International Transfers
48,615 48,61572,374
2015 Combined Transfers
120,989
Calculated by combining either the “To” or the “From” total of 48,615 to the “Within” total
of 72,374.
M E M B E R S H I P Statistics
A Q H A M E M B E R S H I P T O TA L S
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
1989
1988
1987
1986
1985
LIFE
49,027
48,633
48,227
47,879
47,398
46,547
45,787
44,793
42,637
40,608
38,560
36,565
34,805
32,811
28,727
26,043
23,752
22,065
20,858
19,823
18,416
14,621
13,003
11,696
10,967
10,675
10,389
9,894
9,066
8,537
8,127
12 MONTH
3-YEAR
75,223 84,658
75,032 86,337
75,329 91,617
81,562 93,329
85,990 92,555
89,413 100,477
96,727 104,530
112,011 107,812
138,365 97,444
147,884 90,054
156,471 85,625
171,432 78,123
167,298 79,189
166,702 76,314
166,837 73,787
179,639 63,010
182,080 51,229
172,256 51,043
169,275 52,538
175,841 54,471
181,450 47,850
192,170 35,130
207,286 20,044
245,488
236,629
234,311
226,606
103,767
103,389
118,498
129,953
2 0 1 5 T O P T E N M E M B E R S H I P S TAT E S /
PROVINCES/COUNTRIES
1. Texas
2. California
3. Oklahoma
4. Ohio
5. Colorado
6. Alberta
7. Florida
8. Germany
9. Missouri
10. Kansas
37,279
15,493
12,006
7,648
6,977
6,637
6,468
6,278
6,175
5,214
AMATEUR
3-YEAR AMATEUR
YOUTH
10,735
17,48823,400
10,248
18,47924,799
9,880
19,91525,745
11,008
20,50827,277
11,727
21,48827,891
11,985
22,92328,709
12,018
22,95830,026
13,097
22,47031,011
14,615
21,14831,696
15,190
20,12631,585
16,417
19,18131,197
18,594
18,17330,720
18,744
17,57830,297
19,085
16,66229,489
18,817
16,14029,578
19,972
14,17329,071
20,274
12,70428,096
19,673
13,50727,831
19,786
13,55029,144
20,147
13,29730,622
21,307
12,02731,494
23,768
9,47730,134
26,096
6,35027,726
31,45225,161
28,99322,103
27,36018,039
28,45313,589
26,77811,905
24,3178,703
22,7698,729
19,1638,929
TOTAL
260,531
263,528
270,713
281,563
287,049
300,054
312,046
331,194
345,905
345,447
347,451
353,607
347,911
341,063
333,886
331,908
318,136
306,375
305,151
314,201
312,544
305,300
300,505
313,797
298,692
290,385
279,037
152,344
145,475
158,533
166,145
7
8
M E M B E R S H I P Statistics
AQHA MEMBERSHIP
ANNUAL/3 YEAR
LIFE
YOUTH
AMATEUR
UNITED STATES
Alabama
1,897596303
353
Alaska
1466545
52
Arizona
3,548 1,105 295546
Arkansas
2,364636321
346
California
10,073 2,606
9641,850
Colorado
4,887 1,502 504864
Connecticut
445104114
157
Delaware
1183136
40
Florida
3,867 1,283 579739
Georgia
2,310693428
401
Hawaii
2219749
42
Idaho
2,947681323
197
Illinois
2,700754497
613
Indiana
2,475756738
711
Iowa
2,878786409
491
Kansas
3,325 1,027 439423
Kentucky
1,790489444
563
Louisiana
3,377901521
280
Maine
2744965
50
Maryland
561167148
197
Massachusetts 421101117
156
Michigan
2,313559595
631
Minnesota
2,660549449
567
Mississippi
1,873533462
329
Missouri
4,033 1,109 540493
Montana
3,511982285
218
Nebraska
3,176 1,010 494451
Nevada
1,309415109
150
New Hampshire2245661
70
New Jersey
613169142
220
New Mexico 2,964808242
231
New York
1,823395446
550
North Carolina 2,245762508
606
North Dakota 1,669340226
202
Ohio
3,6061,0451,307
1,390
Oklahoma
7,680 2,505 921900
Oregon
3,198759355
315
Pennsylvania 2,712543756
893
Rhode Island
65
11
7
16
South Carolina 1,060346231
214
South Dakota 2,521702283
234
Tennessee
2,289729489
502
Texas
23,2978,2762,826
2,880
Utah
2,933804173
141
Vermont
2154653
61
Virginia
1,350410268
315
Washington 3,527734403
487
Washington D.C.
8
10
0
3
West Virginia
546134167
185
Wisconsin
2,053554487
560
Wyoming
2,488765247
153
TOTALS
138,58540,48920,871
23,038
CANADA
Alberta
4,275 1,645 404313
British Columbia1,359461201
226
Manitoba
484151105
100
New Brunswick 1142255
51
Newfoundland 615
2
Nova Scotia
1872552
54
Ontario
1,570442346
652
Prince Edward Island
23
1
8
10
Quebec
988 100
89146
Saskatchewan 1,327404185
123
Yukon
921
0
TOTALS
10,3423,2541,451
1,677
INTERNATIONAL
Afghanistan
100
0
Albania
100
0
Argentina
23 45 18
Ashmore & Cartier Islands
1
0
1
Australia
3195640
139
Austria
434 353
46233
Belgium
450 143
32127
Belize
010
0
Bermuda
100
0
Bhutan
000
1
Bolivia
010
0
ANNUAL/3 YEAR
LIFE
YOUTH
AMATEUR
Botswana
010
0
Brazil
2006139
110
Bulgaria
300
0
Czech Republic 2827620
51
Chile
9 23 00
China
8660
0
Colombia
91 76 90
Comoros
900
0
Coral Sea Islands
1
0
0
0
Costa Rica
34
13
1
5
Croatia
1110
1
Denmark
1236221
133
Dominican Republic
5
16
9
1
Ecuador
510
0
El Salvador
120
0
Falkland Islands 010
0
Finland
71 16
936
France
8889933
119
Gambia
010
0
Georgia
301
0
Germany
2,840 1,812
3371,289
Guam
100
1
Guatemala
130
0
Honduras
020
0
Hong Kong
010
0
Hungary
571221
11
Iceland
100
0
Ireland
20 10 63
Isle of Man
0
1
0
0
Israel
984242
7
Italy
1,428 209 8155
Japan
27 218
928
Korea
400
0
Libya
020
0
Liechtenstein
000
2
Luxembourg
294611
38
Madagascar
010
0
Malaysia
010
0
Mexico
973 805 2719
Monaco
110
0
Morocco
010
0
Namibia
410
0
Netherlands
417 173
60202
New Calendonia 940
2
New Hebrides 100
0
New Zealand
501414
35
Nicaragua
010
0
Norway
582120
73
Oman
100
0
Panama
63 37 71
Paraguay
18 22 50
Poland
1002123
40
Portugal
730
0
Puerto Rico
12
11
3
0
Russia
000
1
San Marino
100
0
Saudi Arabia
010
0
Senegal
100
0
Serbia
300
0
Seychelles
100
1
Slovakia
73 25 77
Slovenia
9155
4
South Africa
31
17
4
8
Spain
72 24 41
St Pierre & Miguelo
1
0
0
0
Surinam
200
0
Sweden
4659845
300
Switzerland
350 271
28190
Thailand
301
0
Trindad & Tobago010
0
United Arab Emirates
0
1
0
0
United Kingdom2998034
219
Uruguay
11 17 01
Venezuela
278 214 215
Virgin Islands
011
1
TOTALS 10,9545,2841,078
3,508
M E M B E R S H I P Statistics
AMERICAN QUARTER HORSE OWNERS
U NITE D S TATES
Alabama12,668
Alaska737
Arizona16,832
Arkansas13,366
California45,376
Colorado23,879
Connecticut1,730
Delaware600
Florida20,496
Georgia13,990
Hawaii1,193
Idaho15,295
Illinois14,071
Indiana14,806
Iowa15,381
Kansas17,041
Kentucky10,791
Louisiana16,314
Maine1,591
Maryland3,150
Massachusetts1,857
Michigan13,897
Minnesota14,590
Mississippi12,223
Missouri24,158
Montana17,305
Nebraska14,286
Nevada5,922
New Hampshire
1,003
New Jersey
2,702
New Mexico
12,469
New York
8,439
North Carolina
14,434
North Dakota
7,130
Ohio19,841
Oklahoma35,549
Oregon16,212
Pennsylvania13,068
Rhode Island
307
South Carolina
6,487
South Dakota
11,123
Tennessee14,458
Texas100,201
Utah14,258
Vermont1,063
Virginia8,468
Washington17,554
Washington D.C.
48
West Virginia
3,341
Wisconsin12,286
Wyoming11,177
Total695,163
C A NA DA Alberta20,352
British Columbia
8,406
Manitoba3,052
New Brunswick
773
Newfoundland43
Northwest Territory
2
Nova Scotia
1,134
Ontario10,028
Prince Edward Island
239
Quebec6,074
Saskatchewan6,896
Yukon49
Total57,048
I NT ERNAT I ON AL
Albania1
Argentina 121
Ashmore & Cartier Islands
5
Australia 997
Austria 2,631
Bahamas2
Bassas da India
1
Belgium 2,196
Belize 2
Bermuda 1
Bolivia 1
Botswana 1
Brazil 1,353
Bulgaria 9
Cayman Islands 8
Czech Republic
1,008
Chile 46
China19
Colombia 189
Comoros9
Coral Sea Islands
1
Costa Rica 35
Croatia 25
Denmark 731
Dominican Republic 40
Ecuador 9
El Salvador
1
Estonia 4
Falkland Islands 1
Finland 194
France 4,317
Georgia 2
Germany 20,288
Greece 2
Guadeloupe 1
Guam 4
Guatemala 8
Honduras 1
Hungary 193
Iceland2
Ireland 38
Isle Of Man
1
Israel 1,169
Italy 9,789
Japan 184
Liechtenstein 3
Lithuania 3
Luxembourg 171
Macau 1
Madagascar 1
Malawi1
Malta 1
Martinique 4
Mexico 3,507
Monaco 2
Mongolia 1
Namibia6
Netherlands2,207
Netherlands Antilles 5
New Caledonia 20
New Hebrides
1
New Zealand 158
Nicaragua2
Niue2
Norway 306
Oman1
Panama 142
Paraguay46
Philippines 1
Poland 287
Portugal 32
Puerto Rico 47
Romania2
Russia 1
San Marino
1
Saudi Arabia
1
Senegal1
Serbia 7
Seychelles3
Slovakia 252
Slovenia250
South Africa 64
Spain 239
St Pierre & Miguelo
1
Surinam2
Sweden 2,028
Switzerland 1,805
Thailand 4
Turkey 1
United Arab Emirates
4
United Kingdom 1,635
Uruguay 52
Venezuela 820
Virgin Islands 5
Yugoslavia 1
Total59,777
OWN ER
S TATI S TI CS United States
695,163
Canada57,048
International59,777
Total811,988
TO P 5 S TATES 1. Texas
2. California
3. Oklahoma
4. Missouri
5. Colorado
100,201
45,376
35,549
24,158
23,879
TO P 5 PROV I N CES 1. Alberta
2. Ontario
3. British Columbia
4. Saskatchewan
5. Quebec
20,352
10,028
8,406
6,896
6,074
TO P 5 CO UN TRI ES 1. Germany
2. Italy
3. France
4. Mexico
5. Austria
20,288
9,789
4,317
3,507
2,631
9
10
S H O W Statistics
2 0 1 5 T O TA L S H O W S A N D S P E C I A L E V E N T S
AV E R A G E E N T R I E S P E R S H O W
UNITED STATES
Total Average SpecialAverage
ShowsEntries EventsEntries
Alabama
32253 3 14
Alaska
12146
Arizona
40700 2 270
Arkansas
10390 10 111
California
119301 23 49
Colorado
67330 16 58
Connecticut 16303 2 87
Delaware
16356
Florida
94350 10 34
Georgia
56604 6 102
Hawaii
698
Idaho
23222
Illinois
52472 1 103
Indiana
55538 14 93
Iowa
40467 7 104
Kansas
28347 15 53
Kentucky
59500 29 73
Louisiana
10398 2 10
Maine
4248
Maryland
7278
Massachusetts11797
Michigan
59556 1 98
Minnesota
73333 53 48
Mississippi
58482 3 214
Missouri
48396 2 165
Montana
18203 2 9
Nebraska
42461 38 72
Nevada
27622 1 144
New Hampshire
5
176
New Jersey
18
445
New Mexico
32
293
New York
76
450
3
49
North Carolina
54
336
13
32
North Dakota
16
434
Ohio
74704 7 167
Oklahoma
72604 58 77
Oregon
36512 2 86
Pennsylvania 76462 2 14
South Carolina
36
295
2
32
South Dakota
38
308
3
144
Tennessee
65397
Texas
188223 66 83
Utah
18336
Vermont
146
Virginia
20418 4 46
Washington 48315 2 44
West Virginia
34
403
1
42
Wisconsin
40419 4 69
Wyoming
16188
CANADA
Total Average SpecialAverage
ShowsEntries EventsEntries
Alberta 19
404
5
12
British Columbia 25
200
Manitoba
14299
New Brunswick
9
234
Nova Scotia
2
243
Ontario
51491
Quebec
10287
Saskatchewan 12317
INTERNATIONAL
Total Total SpecialTotal
ShowsEntries EventsEntries
Argentina
9101 1 8
Australia
8805
Austria
101567
Belgium
3371
Brazil
71881 1 23
China
127
Colombia
1105
Comoros
127
Coral Sea Islands Terr.1
51
Costa Rica
4
87
Czech Republic
2
158
Denmark
41190
Dominican Republic 2
18
Finland
7319
France
12794
Germany
6920556
7
83
Hungary
3113
Ireland
114
Israel
165
Italy
2185
Japan
255
Luxembourg 5481
Mexico
21723 1 45
Netherlands
5976 2 90
New Zealand
3
501
Norway
7472
Panama
225
Paraguay
128
Poland
5493
South Africa
2
84
Sweden
141486 1 11
Switzerland
61255
United Kingdom 24
2983
3
47
2015 AQHA APPROVED
SHOWS/SPECIAL EVENTS
United
StatesCanada Int'l Total
umber of shows
N
per year
2,045
142
245
2,432
umber of special
N
events per year 407
5
16
428
T otal shows and
special events 2,452
147
261
2,860
S H O W Statistics
AWA R D S I S S U E D
OPEN
Register of Merit-Performance
2015 TOP 5 CIRCUITS
2013 20142015
1,497
1,447
1,383
Register of Merit-Halter
375
390
373
Superior Horse
423
465
442
2
1
6
Performance Champion
AQHA Champion
71
69
57
Supreme Champion
2
1
0
Superior All-Around
4
5
6
All-Around
1,641 1,7411,564
All-Around Runner-Up
1,145
1,390
1,160
AMATEUR
Register of Merit-Performance
1,116
1,178
Register of Merit-Halter
393
433
417
Superior Horse
376
367
397
4
1
8
AQHA Champion
51
65
68
Supreme Champion
0
4
5
Superior All-Around
9
5
7
All-Around
1,978 1,9291,812
All-Around Runner-Up
1,813
1,838
1,755
521
718
668
Level 1 Completion Certificates
Oklahoma QHA Redbud Spectacular
Oklahoma City, OK 15,839
12
1,320
Arizona Sun Country Circuit
Scottsdale, AZ
14,809
11
1,346
Oregon Summer Classic
Central Point, OR 9,245
8
1,156
Silver Dollar Circuit
Las Vegas, NV
8,247
6
1,375
Big A Circuit
Conyers, GA
7,996
6
1,333
2013 20142015
Register of Merit-Performance
549
557
506
Register of Merit-Halter
163
161
172
Superior Horse
155
180
158
Performance Champion
3
3
6
Versatility Award
0
1
0
AQHA Champion
47
52
51
Supreme Champion
2
2
0
Superior All-Around
6
1
3
All-Around
1,756 1,8171,683
All-Around Runner-Up
1,543
1,640
1,559
549
620
415
Level 1 Completion Certificates
Average Entries
Per Show
2015 TOP 5 SPECIAL EVENT SHOWS
YOUTH
Number of Shows
2013 20142015
1,146
Performance Champion
Total
Entries
Total
Entries
Number of Shows
Average Entries
Per Show
Houston Livestock Events
Houston, TX
2292
6
382
Central Minnesota Team Penning
Detroit Lakes, MN
888
5
178
CAS Sorting/Penning/Barrels/Poles
Clinton, AR 864
4
216
Buckeye Classic Special Event
Sunbury, OH 836
1
836
JL Arena Penning/Sorting
Whitesboro, TX 690
2
345
2015 TOP 5 LEVEL 1 SHOWS
Total
Entries
Number of Shows
Average Entries
Per Show
Keystone Quarter Horse Level 1 Show
Centre Hall, PA
684
1
684
PQHA Level 1 Clinic and Show
Centre Hall, PA
461
1
461
MQHA District 7 Level 1 Show
Verndale, MN
366
2
183
Alabama QHA Annual Level 1 No Bling Show
Montgomery, AL 304
2
152
Area 3 Level 1 Quarter Horse Show
Orangeville, ON, CA
1
296
296
2015 TOP 5 EQUESTRIANS
WITH DISABILITIES SHOWS
Total
Entries
Number of Shows
Average Entries
Per Show
Dixie National QHS
Jackson, MS
484
4
121
Region 8 QHS
Amarillo, TX 359
3
120
Gateway Classic Benefit Show
Lake St. Louis, MO
246
7
35
NSBA SHOW Your Colors
Tulsa, OK 240
3
80
Chisholm Challenge
Fort Worth, TX 173
1
173
11
12
S H O W Statistics
SHOW ENTRIES
2011
2012
2013
2014
2015
2,590
2,790
2,529
2,511
2,432
NUMBER OF SPECIAL EVENTS
547
522
473
463
428
AVERAGE ENTRIES PER SHOW
314
335
355
370
380
65
68
69
75
70
813,881
907,420
898,820
928,801
923,184
35,556
35,223
32,613
34,724
29,802
849,537
942,643
931,433
963,525
952,986
NUMBER OF APPROVED SHOWS
AVERAGE ENTRIES PER SPECIAL EVENT
TOTAL SHOW ENTRIES
TOTAL SPECIAL EVENT ENTRIES
TOTAL SHOW ENTRIES
INCLUDING SPECIAL EVENTS
2015 WORLD CHAMPIONSHIP SHOWS
SHOW
QUALIFIERS
ENTRIES
HORSES
EXHIBITORSMONEY/AWARDS
Zoetis Versatility Ranch Horse1702
31 27
344
27$51,690
John Deere Cowboy Mounted Shooting1
242
71 65
56$29,390
AQHYA World Show
1,4122
2,1651,026
712 236,985
Adequan Select World Show
3,6913
1,186 771
Amateur/Open AQHA World Show
16,0043
4,765 2,188
577$520,650
1,546$2,824,608
SmartPak AQHA Level 1 Championship (West)
3, 070
1,923
506
478
$55,918
Nutrena AQHA Level 1 Championship (East)
3,070
2,129
554
539
$56,606
n/a
312
153
122
$46,387
Zoetis Level 1 Cattle Championship
1Show held in 2015 for 2014 qualifiers
2National qualifiers
3Includes state qualifiers
4Participation qualifiers
2015 TOP 5 VERSATILITY RANCH HORSE SHOWS
Total
Entries
Number of Shows
Average Entries
Per Show
Colorado State Fair
Pueblo, CO
93
3
31
Lassen County Fair
Susanville, CA
38
2
19
San Angelo SHOT Show
San Angelo, TX 35
1
35
Rose Palace Roundup
San Antonio, TX 34
1
34
Tri-State Fair
Amarillo, TX
32
2
19
2015 R E G I O N A L C H A M P I O N S H I P E N T R I E S
Region 1
Region 2
Region 3
Region 4
Region 5
Region 6 Region 7
Region 8
Region 9
Region 10
Region 11
Monroe, WA
Rapid City, SD
NOT HELD
NOT HELD
Logan Township, NJ
West Springfield, MA
NOT HELD
Amarillo, TX Jackson, MS
NOT HELD
NOT HELD
608
748
324
368
504
413
P U B L I C A T I O N S Statistics
The American Quarter Horse Journal
United States . . . . . . . . . . . . . . . . . . 25,283
Alabama . . . . . . . . . . . . . . . . . . . . . . . . . 409
Alaska . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42
Arizona . . . . . . . . . . . . . . . . . . . . . . . . . . . 542
Arkansas . . . . . . . . . . . . . . . . . . . . . . . . . 440
California . . . . . . . . . . . . . . . . . . . . . . . . 1621
Colorado . . . . . . . . . . . . . . . . . . . . . . . . . 822
Connecticut . . . . . . . . . . . . . . . . . . . . . . 121
Delaware . . . . . . . . . . . . . . . . . . . . . . . . . . 34
Florida . . . . . . . . . . . . . . . . . . . . . . . . . . . 776
Georgia . . . . . . . . . . . . . . . . . . . . . . . . . . 453
Hawaii . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
Idaho . . . . . . . . . . . . . . . . . . . . . . . . . . . . 321
Illinois . . . . . . . . . . . . . . . . . . . . . . . . . . . . 762
Indiana . . . . . . . . . . . . . . . . . . . . . . . . . . . 712
Iowa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 676
Kansas . . . . . . . . . . . . . . . . . . . . . . . . . . . 649
Kentucky . . . . . . . . . . . . . . . . . . . . . . . . . 419
Louisiana . . . . . . . . . . . . . . . . . . . . . . . . . 588
Maine . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Maryland . . . . . . . . . . . . . . . . . . . . . . . . . 170
Massachusetts . . . . . . . . . . . . . . . . . . . . . 94
Michigan . . . . . . . . . . . . . . . . . . . . . . . . . 555
Minnesota . . . . . . . . . . . . . . . . . . . . . . . . 562
Totals include complimentary subscriptions and sample issues.
Mississippi . . . . . . . . . . . . . . . . . . . . . . . 374
Missouri . . . . . . . . . . . . . . . . . . . . . . . . . . 774
Montana . . . . . . . . . . . . . . . . . . . . . . . . . 352
Nebraska . . . . . . . . . . . . . . . . . . . . . . . . . 574
Nevada . . . . . . . . . . . . . . . . . . . . . . . . . . . 173
New Hampshire . . . . . . . . . . . . . . . . . . . 42
New Jersey . . . . . . . . . . . . . . . . . . . . . . . 163
New Mexico . . . . . . . . . . . . . . . . . . . . . . 384
New York . . . . . . . . . . . . . . . . . . . . . . . . . 463
North Carolina . . . . . . . . . . . . . . . . . . . . 557
North Dakota . . . . . . . . . . . . . . . . . . . . . 282
Ohio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 980
Oklahoma . . . . . . . . . . . . . . . . . . . . . . . 1212
Oregon . . . . . . . . . . . . . . . . . . . . . . . . . . . 362
Pennsylvania . . . . . . . . . . . . . . . . . . . . . 636
Rhode Island . . . . . . . . . . . . . . . . . . . . . . 22
South Carolina . . . . . . . . . . . . . . . . . . . 217
South Dakota . . . . . . . . . . . . . . . . . . . . . 312
Tennessee . . . . . . . . . . . . . . . . . . . . . . . . 499
Texas . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3829
Utah . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 333
Vermont . . . . . . . . . . . . . . . . . . . . . . . . . . 48
Virginia . . . . . . . . . . . . . . . . . . . . . . . . . . . 325
Washington . . . . . . . . . . . . . . . . . . . . . . 546
Washington D.C. . . . . . . . . . . . . . . . . . . . . . 1
West Virginia . . . . . . . . . . . . . . . . . . . . . 160
Wisconsin . . . . . . . . . . . . . . . . . . . . . . . . 516
Wyoming . . . . . . . . . . . . . . . . . . . . . . . . .279
Canada . . . . . . . . . . . . . . . . . . . . . . . . . . . 817
Alberta . . . . . . . . . . . . . . . . . . . . . . . . . . . 262
British Columbia . . . . . . . . . . . . . . . . . . . 96
Manitoba . . . . . . . . . . . . . . . . . . . . . . . . . . 49
New Brunswick . . . . . . . . . . . . . . . . . . . . . . 9
Newfoundland . . . . . . . . . . . . . . . . . . . . . . 1
Northwest Territory . . . . . . . . . . . . . . . . . . 1
Nova Scotia . . . . . . . . . . . . . . . . . . . . . . . 23
Ontario . . . . . . . . . . . . . . . . . . . . . . . . . . . 221
Quebec . . . . . . . . . . . . . . . . . . . . . . . . . . . 73
Saskatchewan . . . . . . . . . . . . . . . . . . . . . 81
Yukon . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
International . . . . . . . . . . . . . . . . . . . . . 491
Total Circulation . . . . . . . . . . . . . . . 27,550
13
14
P U B L I C A T I O N S Statistics
America’s Horse
United States . . . . . . . . . . . . . . . . . 182,565
Alabama . . . . . . . . . . . . . . . . . . . . . . . 2,687
Alaska . . . . . . . . . . . . . . . . . . . . . . . . . . . . 243
Arizona . . . . . . . . . . . . . . . . . . . . . . . . . 4,483
Arkansas . . . . . . . . . . . . . . . . . . . . . . . 3,022
California . . . . . . . . . . . . . . . . . . . . . . 12,688
Colorado . . . . . . . . . . . . . . . . . . . . . . . 6,348
Connecticut . . . . . . . . . . . . . . . . . . . . . . 662
Delaware . . . . . . . . . . . . . . . . . . . . . . . . . 177
Florida . . . . . . . . . . . . . . . . . . . . . . . . . 5,239
Georgia . . . . . . . . . . . . . . . . . . . . . . . . 3,196
Hawaii . . . . . . . . . . . . . . . . . . . . . . . . . . . 320
Idaho . . . . . . . . . . . . . . . . . . . . . . . . . . 3,520
Illinois . . . . . . . . . . . . . . . . . . . . . . . . . . 3,672
Indiana . . . . . . . . . . . . . . . . . . . . . . . . . 3,725
Iowa . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,883
Kansas . . . . . . . . . . . . . . . . . . . . . . . . . 4,318
Kentucky . . . . . . . . . . . . . . . . . . . . . . . 2,641
Louisiana . . . . . . . . . . . . . . . . . . . . . . . 4,156
Maine . . . . . . . . . . . . . . . . . . . . . . . . . . . . 388
Maryland . . . . . . . . . . . . . . . . . . . . . . . . . 885
Massachusetts . . . . . . . . . . . . . . . . . . . . 632
Michigan . . . . . . . . . . . . . . . . . . . . . . . 3,310
Minnesota . . . . . . . . . . . . . . . . . . . . . . 3,506
Mississippi . . . . . . . . . . . . . . . . . . . . . 2,672
Total include complimentary subscriptions and sample issues.
Missouri . . . . . . . . . . . . . . . . . . . . . . . . 5,217
Montana . . . . . . . . . . . . . . . . . . . . . . . 4,191
Nebraska . . . . . . . . . . . . . . . . . . . . . . . 4,256
Nevada . . . . . . . . . . . . . . . . . . . . . . . . . 1,628
New Hampshire . . . . . . . . . . . . . . . . . . 343
New Jersey . . . . . . . . . . . . . . . . . . . . . . . 907
New Mexico . . . . . . . . . . . . . . . . . . . . 3,357
New York . . . . . . . . . . . . . . . . . . . . . . . 2,616
North Carolina . . . . . . . . . . . . . . . . . . 3,367
North Dakota . . . . . . . . . . . . . . . . . . . 1,988
Ohio . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,912
Oklahoma . . . . . . . . . . . . . . . . . . . . . . 9,598
Oregon . . . . . . . . . . . . . . . . . . . . . . . . . 3,937
Pennsylvania . . . . . . . . . . . . . . . . . . . 4,008
Rhode Island . . . . . . . . . . . . . . . . . . . . . . 83
South Carolina . . . . . . . . . . . . . . . . . 1,542
South Dakota . . . . . . . . . . . . . . . . . . . 3,033
Tennessee . . . . . . . . . . . . . . . . . . . . . . 3,295
Texas . . . . . . . . . . . . . . . . . . . . . . . . . . 29,659
Utah . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,514
Vermont . . . . . . . . . . . . . . . . . . . . . . . . . 314
Virginia . . . . . . . . . . . . . . . . . . . . . . . . . 1,971
Washington . . . . . . . . . . . . . . . . . . . . 4,409
Washington D.C. . . . . . . . . . . . . . . . . . . . 12
West Virginia . . . . . . . . . . . . . . . . . . . . . 857
Wisconsin . . . . . . . . . . . . . . . . . . . . . . 3,131
Wyoming . . . . . . . . . . . . . . . . . . . . . . . 3,020
Canada . . . . . . . . . . . . . . . . . . . . . . . . . . . 312
Alberta . . . . . . . . . . . . . . . . . . . . . . . . . . . 117
British Columbia . . . . . . . . . . . . . . . . . . . 38
Manitoba . . . . . . . . . . . . . . . . . . . . . . . . . . 28
New Brunswick . . . . . . . . . . . . . . . . . . . . . . 2
Nova Scotia . . . . . . . . . . . . . . . . . . . . . . . . . 6
Ontario . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
Prince Edward Island . . . . . . . . . . . . . . . . 1
Quebec . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Saskatchewan . . . . . . . . . . . . . . . . . . . . . 30
International . . . . . . . . . . . . . . . . . . . . . . 203
Total Circulation . . . . . . . . . . . . . . . 183,399
R A C I N G A N D C H A L L E N G E Statistics
RACING
R ACE PURSES
20112012 20132014 2015
TOTAL ADDED MONEY
$100,217,089
TOTAL PURSES
$129,282,575
AVERAGE PURSE PER RACE
$15,300
AVERAGE EARNINGS PER STARTER
$7,730
$103,304,434
$131,545,809
$15,195
$8,041
5,071
3-year-olds raced
4,436
Older horses raced
5,255
571
TOTAL STARTERS IN
AMERICAN QUARTER HORSE RACES . . . . . . . . . 15,333
Horses with first official start
Horses previously raced
$122,822,398
$129,930,175
$16,436
$8,474
RACESSTARTERS PURSES
1970 7,43810,493 $9,427,886
1980 13,77720,551$38,641,432
1990 13,45020,520$51,210,144
2000 8,09613,359$67,104,506
2001 8,23913,596$73,301,410
2002 8,48414,240$78,270,089
2003 8,40914,532$83,726,581
2004 8,79915,368$93,500,833
2005 8,79915,833$98,630,441
2006 9,053 16,043$109,375,703
2007 9,274 16,607$123,042,699
2008 9,152 16,911$125,545,585
2009 9,113 17,180$127,628,434
2010 8,788 17,069$127,026,173
2011 8,450 16,724$129,282,575
2012 8,657 16,355$131,545,809
2013 8,328 15,761$125,877,223
2014 7,960 15,636$126,709,904
2015 7,905 15,333$129,930,175
American Quarter Horse Starters . . . . . . . . . . . . 14,762
Other Breeds Starters
$118,968,508
$126,709,904
$15,918
$8,104
R AC I N G S TATI S TI C S 1 9 7 0 – 2 0 1 5 2015 STARTERS IN RECOGNIZED
AMERIC AN QUARTER HORSE R ACES
2-year-olds raced
$96,684,003
$125,877,223
$15,115
$7,981
6,117
9,416
HANDLE
$102,877,409
$320,610,106
$354,208,189
$286,724,866
$318,037,079
$315,789,530
$306,786,431
$324,744,580
$343,731,326
$346,932,823
$367,626,783
$332,944,722
$328,443,262
$294,104,133
$301,354,956
$295,663,926
$289,748,484
$291,986,135
$309,356,986
CHALLENGE
CHALLENGE ENROLLMENT BY FOAL CROP
20102011201220132014
2015
WEANLING
YEARLING
3,023 2,8442,634 2,7552,6122,446
569 483501 578614556
2-YEAR-OLD
3-YEAR-OLD & UP
SOUTH AMERICA ENROLLMENTS
TOTAL ENROLLMENT
5 50 019
2
0
0
1
1
2
143
39
216
0
0
1
3,742 3,3713,351 3,3343,2283,014
BANK OF AMERICA RACING CHALLENGE PROGRAM
E N R OLLME NTS , PUR S E S A ND AWA R D S HI S TORY
YEAR
TOTAL HORSES
ENROLLED
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
ADDED
PURSE MONEY
*TOTAL
PURSES
3,014$1,135,400 $3,403,500
3,208$1,167,100 $3,768,453
3,161$1,142,200 $3,403,353
3,275$1,069,200 $3,644,753
3,381$1,189,300 $3,506,700
3,744
$1,304,900 $3,497,150
3,730
$1,267,800 $3,164,800
3,760
$1,411,900 $3,152,100
4,253
$1,358,240 $3,007,670
4,506
$1,380,700 $2,959,608
4,269$1,173,440 $2,821,000
4,474$1,173,100 $2,759,500
4,554$1,103,900 $2,689,250
4,611$1,067,700 $2,450,250
4,584$1,125,700 $2,426,000
4,297$1,077,000 $2,372,172
4,028$1,103,800 $2,032,500
3,673$964,300 $1,760,000
3,251$878,700 $1,500,000
2,896$798,600 $1,232,500
2,286$597,500 $1,115,000
1,784$478,800 $859,400
1,322$337,400 $770,500
2,756$867,900
N/A
1992-2015 TOTALS
81,803
ENROLLMENT
DOLLARS $24,039,180
$54,892,659
$4,661,910
$4,829,997
$4,195,385
$4,294,101
$4,275,484
$4,176,514
$4,453,871
$4,220,151
$4,003,114
$4,286,289
$3,508,555
$3,493,520
$3,374,015
$3,526,525
$3,843,685
$3,521,755
$3,037,475
$2,583,000
$2,121,559
$1,569,670
$1,463,430
$1,045,585
$1,090,003
N/A
$72,913,673
STALLION
OWNER AWARDS
***
***
***
***
***
***
***
***
$112,302
$110,572
$109,495
$108,273
$105,222
$109,736
$109,445
$96,987
$84,134
$78,137
$60,000
$50,796
$47,788
$35,935
$22,669
N/A
$1,241,491
NOMINATOR
AWARDS
TOTAL
AWARDS
$314,510 $314,510
$321,284 $321,284
$307,969 $307,969
$309,023 $309,023
$261,415 $261,415
$258,681
$258,681
$254,055
$254,055
$272,461
$272,461
$262,038
$374,340
$258,000
$368,572
$255,488 $364,983
$252,636 $360,909
$245,517 $350,739
$256,050 $365,786
$255,371 $364,816
$226,303 $323,290
$196,313 $280,447
$183,432 $261,569
$140,000 $200,000
$118,524 $169,320
$111,506 $159,294
$79,039 $114,974
$52,278 $74,947
N/A
N/A
$4,877,383
$6,118,874
Total Purses = Regional Trials and Final Purses, Championship Day Purses, including undercard races, Bonus Challenge and Maiden Challenge Race Purses
*** 3% Stallion Awards were eliminated by the AQHA Racing Council in 2008 to provide additional money for the Championship Day Races.
GRAND TOTAL
MONEY PAID OUT
$4,908,309
$4,952,841
$4,786,545
$4,950,569
$4,708,965
$4,427,660
$4,712,240
$4,895,920
$4,718,833
$4,797,796
$4,231,688
$4,007,385
$3,909,225
$3,999,295
$4,208,501
$3,845,045
$3,317,922
$2,844,569
$2,321,559
$1,738,990
$1,622,724
$1,160,559
$1,164,950
N/A
$81,323,781
15
16
P R O G R A M S A N D S E R V I C E S Information
P R O F E S S I O N A L H O R S E M E N M E M B E R S YEAR MEMBERS
2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 825
2004 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 875
2005 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 861
2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 875
2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 901
2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 966
2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 935
2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 939
2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 899
2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 893
2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 834
2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 834
2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 807
HORSEBACK RIDING PROGRAM
AMERICAN QUARTER HORSE DIVISION
2015 ENROLLMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,675
ACHIEVEMENT LEVEL (HOURS)
AWARD EARNERS
ACHIEVEMENT LEVEL (HOURS)
AWARD EARNERS
25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 389
50 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 387
100 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 385
250 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 294
500 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 226
750 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176
1,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150
1,500 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115
2,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91
2,500 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66
3,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57
3,500 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50
4,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
4,500 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
5,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
2015 AWARDS GIVEN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,484
2015 TOTAL HOURS RIDDEN . . . . . . . . . . . . . . . . . . . . . . . . . . . . 455,144
ALL-BREED DIVISION
2014 ENROLLMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,510
25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 126
50 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113
100 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99
250 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
500 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48
750 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
1,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30
1,500 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
2,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
2015 AWARDS GIVEN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 527
TOTAL HOURS RIDDEN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59,271
RIDE PROGRAM
YEARPARTICIPANTS AFFILIATES RIDES
2002 5,151 2003 5,194 20045,440
20055,626
20065,383
20076,314
20084,561
20093,715
20102,921
20112,299
20122,265
20131,532
20141,834
20151,461
TRAIL CHALLENGE
58
48
53
55
54
55
54
46
41
37
38
39
17
12
79
70
82
96
100
110
128
104
82
81
70
40
41
32
YEARPARTICIPANTS EVENTS
20151,172
46
R A N C H I N G H E R I TA G E B R E E D E R S
BREEDERS ENROLLED . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 330
FOALS NOMINATED . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,429
CUSTOMER SERVICE
CALLS RECEIVED . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 387,871
E-MAIL REQUESTS RECEIVED . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31,607
W E B & S O C I A L M E D I A S TAT I S T I C S
AQHA.COM UNIQUE VISITORS . . . . . . . . . . . . . . . . . . . . . . . . . 1,751,342
FACEBOOK LIKES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 967,053
TWITTER FOLLOWERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,020
F I N A N C I A L Statements
REPORTOFINDEPENDENTAUDITORS
TotheBoardofDirectors
AmericanQuarterHorseAssociation
Amarillo,Texas
ReportonFinancialStatements
We have audited the accompanying consolidated financial statements of the American Quarter Horse
AssociationandAmericanQuarterHorseFoundation(collectively,theAssociation),whichcomprisethe
consolidated statements financial position as of September 30, 2015 and 2014, and the related
consolidatedstatementsofactivitiesandcashflowsfortheyearsthenended,andtherelatednotesto
theconsolidatedfinancialstatements.
Management’sResponsibilityfortheFinancialStatements
Management is responsible for the preparation and fair presentation of these consolidated financial
statementsinaccordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica;
this includes the design, implementation, and maintenance of internal control relevant to the
preparation and fair presentation of consolidated financial statements that are free from material
misstatement,whetherduetofraudorerror.
Auditor’sResponsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our
audits. We conducted our audits in accordance with auditing standards generally accepted in the
UnitedStates of America. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the consolidated financial statements are free from material
misstatement.
Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresin
the consolidated financial statements. The procedures selected depend on the auditor’s judgment,
includingtheassessmentoftherisksofmaterialmisstatementoftheconsolidatedfinancialstatements,
whetherduetofraudorerror.Inmakingthoseriskassessments,theauditorconsidersinternalcontrol
relevant to the entity’s preparation and fair presentation of the consolidated financial statements in
ordertodesignauditproceduresthatareappropriateinthecircumstances,butnotforthepurposeof
expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no
suchopinion.Anauditalsoincludesevaluatingtheappropriatenessofaccountingpoliciesusedandthe
reasonableness of significant accounting estimates made by management, as well as evaluating the
overallpresentationoftheconsolidatedfinancialstatements.
1
17
18
F I N A N C I A L Statements
TotheBoardofDirectors
AmericanQuarterHorseAssociation
Amarillo,Texas
Webelievethattheauditevidenceobtainedissufficientandappropriatetoprovideabasisforouraudit
opinion.
Opinion
In our opinion, the consolidated financial statements referred to above present fairly, in all material
respects,thefinancialpositionoftheAmericanQuarterHorseAssociationandAmericanQuarterHorse
FoundationasofSeptember30,2015and2014,andthechangesintheirnetassetsandtheircashflows
for the years then ended in accordance with accounting principles generally accepted in the
UnitedStatesofAmerica.
Albuquerque,NewMexico
January26,2016
2
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
CONSOLIDATEDSTATEMENTSOFFINANCIALPOSITION
2015
September30,
2014
CURRENTASSETS
Cashandcashequivalents
Cashandcashequivalentsdesignatedforinvestment
Accountsreceivable,net
Contributionsreceivable,net
Inventory,prepaidexpensesandotherassets
$2,973,233
2,347,296
1,300,355
41,709
1,760,132
$2,158,804
3,449,728
1,796,850
203,239
1,569,772
NONCURRENTASSETS
Investments
Contributionsreceivable,net
Propertyandequipment,net
Otherassets
69,678,478
161,258
16,811,440
1,558,766
74,970,334
157,971
16,575,195
1,543,893
Totalassets
$96,632,667
$102,425,786
Totalcurrentassets
Totalnoncurrentassets
8,422,725
88,209,942
LIABILITIESANDNETASSETS
9,178,393
93,247,393
CURRENTLIABILITIES
Tradeaccountspayableandaccruedexpenses
IncentiveFundandRacingChallengedeferredincome
Otherdeferredincome
Currentportionofnotespayable
Liabilityforpensionbenefits
$3,271,047
9,285,743
17,315,674
391,556
4,099,599
$4,015,864
10,848,628
17,330,499
380,364
3,598,755
LONGTERMLIABILITY
Notespayable
969,042
1,360,116
33,006,707
3,295,508
24,997,791
37,186,807
3,993,656
23,711,097
$96,632,667
$102,425,786
Totalcurrentliabilities
Totalliabilities
COMMITMENTSANDCONTINGENCIES(Note11)
NETASSETS
Unrestricted
Temporarilyrestricted
Permanentlyrestricted
Totalnetassets
Totalliabilitiesandnetassets
3
34,363,619
35,332,661
61,300,006
36,174,110
37,534,226
64,891,560
Seeaccompanyingnotes.
19
20
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
CONSOLIDATEDSTATEMENTSOFACTIVITIES
UNRESTRICTEDNETREVENUES
Operatingrevenues
Membershipsandmemberservices
Memberships
Registrations
Transfers
Stallionbreedingreportfeesandlatefees
Genotyping/bloodtyping
Drugtesting
WorldChampionshipShows
Sponsorships
Publicationadvertising
Publicationcirculation
IncentiveFundandRacingChallengeprograms
Giftstoresales
Other
Totaloperatingrevenues
Netassetsreleasedfromrestriction
Totaloperatingrevenuesandothersupport
OPERATINGEXPENSES
Programexpenses
Shows
Publications
Racing
Marketing
Memberservices
Registration
Foundationprogramexpenses
Generalandadministrative
Fundraising
Totaloperatingexpenses
Decreaseinunrestrictednetassetsfromoperations
OTHERACTIVITIES
Investmentreturn
Pensionplanactuariallossrecognized
Uncollectiblepledges
Totalotheractivities
(Decrease)increaseinunrestrictednetassets
TEMPORARILYRESTRICTEDNETASSETS
Contributions
Investmentreturn
Netassetsreleasedfromrestrictionsandchangesindonordesignation
(Decrease)increaseintemporarilyrestrictednetassets
PERMANENTLYRESTRICTEDNETASSETS
Contributions
Investmentreturn
Increaseinpermanentlyrestrictednetassets
(Decrease)increaseinnetassets
NETASSETS,beginningofyear
NETASSETS,endofyear
Seeaccompanyingnotes.
YearsEndedSeptember30,
2015
2014
$ 6,760,542
4,692,043
2,099,569
1,435,490
2,776,202
1,462,267
6,345,534
5,933,713
631,412
995,878
4,832,609
1,226,353
5,756,178
$ 6,881,941
5,059,510
1,812,845
1,487,028
2,376,350
1,540,477
6,001,347
6,096,122
1,336,076
1,062,484
5,450,201
1,160,416
4,363,343
46,037,391
46,768,375
11,082,388
4,773,726
4,221,518
3,885,072
4,528,014
4,499,112
4,142,594
11,006,992
265,077
11,115,068
5,254,214
4,584,154
4,285,294
4,153,362
3,967,911
3,922,306
10,467,786
393,191
(2,367,102)
(1,374,911)
(805,881)
(1,011,174)
4,057
4,370,035
(25,975)
9,211
(4,180,100)
2,978,360
44,947,790
1,089,601
48,404,493
(1,812,998)
44,628,140
2,140,235
48,143,286
4,353,271
845,454
(454,001)
(1,089,601)
569,717
2,491,248
(2,140,235)
1,244,198
42,496
912,659
143,440
(698,148)
920,730
1,286,694
1,056,099
64,891,560
59,936,371
(3,591,554)
$61,300,006
4,955,189
$64,891,560
4
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
CONSOLIDATEDSTATEMENTSOFCASHFLOWS
CASHFLOWSFROMOPERATINGACTIVITIES
(Decrease)increaseinnetassets
Adjustmentstoreconcilechangeinnetassetstonetcash
fromoperatingactivities
Depreciationandamortization
Lossondisposalofpropertyandequipment
Netdepreciation(appreciation)oninvestments
Changeinpensionliability
Changesinoperatingassetsandliabilities
Cashandcashequivalentsdesignatedforinvestment
Accountsandcontributionsreceivable,net
Inventory,prepaidexpensesandotherassets
Tradeaccountspayableandaccruedexpenses
Otherdeferredincome
IncentiveFundandRacingChallengedeferredincome
YearsEndedSeptember30,
2015
2014
$(3,591,554)
$4,955,189
2,002,703
35,793
1,217,386
500,844
1,102,432
654,738
(205,233)
(744,817)
(14,825)
(1,562,885)
1,932,163
‐
(7,004,722)
(343,628)
(529,280)
962,702
(65,805)
947,442
727,402
(811,728)
CASHFLOWSFROMINVESTINGACTIVITIES
Purchasesofinvestments
Proceedsfromsalesandmaturitiesofinvestments
Purchaseofintangibleassets
Purchaseofpropertyandequipment
(12,693,781)
16,768,251
‐
(2,274,741)
CASHFLOWSFROMFINANCINGACTIVITIES
Proceedsfromlongtermnotespayable
Paymentonnotespayable
1,799,729
(8,106,438)
10,438,331
(1,146,956)
(2,032,644)
(847,707)
‐
(379,882)
1,375,000
(197,387)
Netcash(used)providedbyoperatingactivities
Netcashprovided(used)byinvestingactivities
Netcash(used)providedbyfinancingactivities
NETCHANGEINCASHANDCASHEQUIVALENTS
CASHANDCASHEQUIVALENTS,beginningofyear
CASHANDCASHEQUIVALENTS,endofyear
5
(605,418)
769,735
(379,882)
1,177,613
2,158,804
1,059,163
814,429
$2,973,233
1,099,641
$2,158,804
Seeaccompanyingnotes.
21
22
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note1–Organization
TheAmericanQuarter HorseAssociation(AQHA)wasformedandexistsforthepurposeofcollecting,
recordingandpreservingthepedigreesofQuarterHorses,andstimulatingandregulatingmatterswhich
pertaintothehistory,breeding,exhibition,publicity,racingorimprovementoftheQuarterHorsebreed.
The American Quarter Horse Foundation (AQHF) was formed to encourage, by public contribution,
support of worthwhile educational and charitable projects of interest and benefit to devotees of the
American Quarter Horse. In addition, AQHF operates the American Quarter Horse Hall of Fame and
Museum (the Hall of Fame), which opened in 1991. The Hall of Fame is devoted to honoring the
AmericanQuarterHorseandthoseresponsibleforthesuccessofthebreed.TheExecutiveCommitteeof
AQHAservesastheBoardofTrusteesofAQHF.
OnApril1,2014,AQHAacquired100%ofRobinGlennPedigrees,Inc.,whichproducessalecatalogsand
pedigrees for the industry’s race sales, performance sales, as well as all facets of the Quarter Horse
performance industry. Robin Glenn Pedigrees (RGP) maintains a database of horse records used to
producesalecatalogsandasaninformationresourceforthehorseindustry. ByAQHA acquiringRGP,
members will be able to track American Quarter Horse accomplishments across the equine industry,
thus enhancing the overall value of American Quarter Horses and in turn rewarding the owners of
American Quarter Horses. The transaction was completed under a stock purchase agreement. AQHA
convertedtheincorporatedRobinGlennPedigreestoalimitedliabilitycompanyonJune3,2014.
Note2–SummaryofSignificantAccountingPolicies
Financialstatementspresentation–TheAssociation'sconsolidatedfinancialstatementsarereflected
on the accrual basis of accounting in accordance with accounting principles generally accepted in the
UnitedStatesofAmerica.Theconsolidatedfinancialstatementsincludetheaccountsandtransactionsof
AQHA and AQHF (collectively, the Association). All material intercompany balances and transactions
have been eliminated. The Association reports information regarding its consolidated statements of
financial position and activities according to three classes of net assets: unrestricted net assets,
temporarilyrestrictednetassetsandpermanentlyrestrictednetassets.AQHAhasmajorityvotingand
economicinterestinAQHF,andthereforetheAQHAfinancialstatementshavebeenconsolidatedwith
theAQHAfinancialstatements.
Unrestrictednetassets–areassetsnotsubjecttostipulationsimposedbythedonorandarecurrently
available for expenditures. Revenues and contributions are reported as increases in unrestricted net
assetsunlessuseoftherelatedassetsislimitedbyexplicitdonorrestrictions.Expensesarereportedas
decreasesinunrestrictednetassets.Gainsandlossesoninvestmentsandotherassetsorliabilitiesare
reported as increases or decreases in unrestricted net assets unless their use is restricted by explicit
donor stipulations or law. Unrestricted net assets include net assets transferred from temporarily
restrictednetassetsaftertemporaryrestrictionsimposedbythedonorhavebeenaccomplishedorthe
stipulatedtimeperiodhaselapsed.Adonor’srestriction,however,maybereleasedormodifiedbythe
donor, a court, or in the circumstances and manner set forth in the Uniform Prudent Management of
InstitutionalFundsAct.
6
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note2–SummaryofSignificantAccountingPolicies(continued)
Temporarilyrestrictednetassets–areassetssubjecttoexplicitrestrictionsimposedbythedonoron
theexpenditureofcontributionsorincomeandgainsoncontributedassets.Thetemporaryrestrictions
may expire due to the passage of time or the occurrence of expenditures that fulfill the restrictions.
Temporarily restricted net assets also include accumulated net investment income earned by the
permanently restricted net assets, except for net investment income permanently restricted by the
donor.
Permanentlyrestrictednetassets–areassetssubjecttoexplicitstipulationsimposedbythedonorto
be maintained in perpetuity. Permanently restricted net assets consist of contributions and pledges
specifically restricted by the donor for the purpose of forming a permanent endowment to generate
income.
Use of estimates – Thepreparationofconsolidatedfinancialstatementsinconformitywithgenerally
acceptedaccountingprinciplesrequiresmanagementtomakeestimatesandassumptionsthataffectthe
reportedamountsofassetsandliabilitiesanddisclosureofcontingentassetsandliabilitiesatthedateof
the consolidated financial statements and the reported amounts of revenues and expenses during the
reportingperiod.Actualresultscoulddifferfromthoseestimates.
Cash and cash equivalents and cash and cash equivalents designated for investment – For
purposes of the consolidated statements of cash flows, the Association considers all cash and other
highlyliquidinvestmentswithinitialmaturitiesofthreemonthsorlesstobecashequivalents.Cashand
cashequivalentsavailableforinvestmentareheldtoberedeployedininvestmentsandheldinvarious
investmentaccounts.TheAssociationmaintainsitscashinbankdepositaccountswhich,attimes,may
exceed federally insured limits. The Association has not experienced any losses related to these
concentrations.
Contributionsreceivable–Contributionsreceivablethatareexpectedtobecollectedwithinoneyear
arerecordedatnetrealizablevalue.Contributionsreceivablethatareexpectedtobecollectedinfuture
yearsarerecordedatthepresentvalueoftheexpectedfuturecashflowsusingadiscountrate.
Anallowanceforuncollectibleaccountsisestimatedbymanagementbasedonitshistoricallossanalysis
and is adjusted for those specific contributions receivable for which collection is uncertain. Such
amountswillbewritten‐offifandwhentheyaredeemeduncollectible.
Accountsreceivable–Accountsreceivableareincludedintheaccompanyingconsolidatedstatements
of financial position at original invoice net of the allowance for doubtful accounts. The accounts
receivable balance is comprised of amounts owed to the Association for gift shop purchases,
sponsorships,journaladvertisingandothermiscellaneousreceivables.
The Association determines its allowance based on specific uncollectible accounts. The Association
writes off receivables when they become uncollectible. The Association has had minimal losses on
accountsreceivableinprioryears.TheallowancefordoubtfulaccountsatSeptember30,2015and2014
isapproximately$0and$1,200,respectively.
7
23
24
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note2–SummaryofSignificantAccountingPolicies(continued)
Investments–Investmentsconsistofequitymutualfunds,domesticandcommonstock,andrealestate
partnershipswhicharerecordedatfairvalueinaccordancewithASC820FairValueMeasurementsand
Disclosures (Note 4). Realized and unrealized gains and losses are recognized in the statement of
activities.
Propertyandequipment–Propertyandequipmentarerecordedatcostorestimatedfairvalueatthe
date of donation. Depreciation is provided for in amounts sufficient to relate the cost of depreciable
assetsovertheirestimatedservicelivesofapproximately35to40yearsonbuildingsandimprovements
and3to10yearsonfurnitureandequipmentonastraight‐linebasis.
Collectionsandexhibits–AQHFhascapitalizedcollectionssinceitsinception.Collectionsandexhibits
are recorded at cost or estimated fair value at the date of donation and are included in property and
equipment. Collections consist primarily of donated art objects where fair value at the date of
contributionisdeterminedbyappraisal.Depreciationisprovidedforinamountssufficienttorelatethe
costofexhibitsovertheirestimatedservicelivesofapproximately5to15yearsonastraight‐linebasis.
No depreciation has been provided for collections which are limited works of a rare nature. Gains or
losses on the disposition of collections and exhibits are recorded in the consolidated statement of
activities at the time of disposition and are classified as unrestricted or temporarily restricted
dependingondonorrestrictions,ifany,placedontheitematthedateofdonation.
Impairmentoflong‐livedassets–TheAssociationreviewslong‐livedassetsforimpairmentwhenever
events or changes in circumstances indicate the carrying amount of an asset may not be recoverable.
Recoverabilityofassetstobeheldandusedismeasuredbyacomparisonofthecarryingamountofan
asset to future undiscounted net cash flows expected to be generated by the asset. If such assets are
consideredtobeimpaired,theimpairmenttoberecognizedismeasuredbytheamountbywhichthe
carryingamountoftheassetsexceedsthefairvalueoftheassets.Assetstobedisposedofarereported
atthelowerofcarryingamountorthefairvaluelesscoststosell.AsofSeptember30,2015and2014,
theAssociation'smanagementhasnotrecognizedimpairmentonanylong‐livedassets.
Incometaxes–AQHAisqualifiedunderSection501oftheInternalRevenueCode(IRC);therefore,the
majority of its income is exempt from federal income tax under the provisions of Section 501(c)(5).
IncomefromcertainoperationsofAQHA,primarilyadvertisinginitspublications,istaxableforfederal
incometaxpurposes.FortheyearsendedSeptember30,2015and2014,AQHAdidnotincuranyfederal
income tax expense. All other operations of AQHA are exempt from federal income tax. AQHF claims
exemptionfromfederalincometaxesunderSection501(c)(3)oftheIRCandisrecognizedasapublic
charity under Section 509(a)(3) of the IRC. AQHA’s wholly owned subsidiary RGP was converted to a
limited liability company on June 3, 2014, and is therefore considered a disregarded entity for tax
purposesasSeptember30,2015andnotsubjecttoadditionaltaxfilingspertheIRC.
FinancialAccountingStandardsBoard(FASB)providesguidanceforhowuncertaintaxpositionsshould
be recognized, measured, disclosed and presented in the financial statements. This requires the
valuationoftaxpositionstakenorexpectedtobetakeninthecourseofpreparingtheAssociation'stax
return to determine whether the tax positions are "more‐likely‐than‐not" of being sustained "when
8
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note2–SummaryofSignificantAccountingPolicies(continued)
challenged"or"whenexamined"bytheapplicabletaxauthority.Taxpositionsnotdeemedtomeetthe
more‐likely‐than‐notthresholdwouldberecordedasataxbenefitorexpenseandliabilityinthecurrent
year.Managementhasdeterminedthattherearenomaterialuncertainincometaxpositions.
Revenuerecognition–TheprimarysourcesofrevenuefortheAssociationarerecognizedasfollows:
Contributions:TheAssociationrecognizescontributionrevenueatthetimeofdonationorwhenan
unconditional promise to give is made by the donor. Contributions are recorded as either
unrestricted, temporarily restricted, or permanently restricted in accordance with donor
restrictions,ifany.
Membershipsandmemberservices:Associationmembershipsaredeferredandrecognizedasincome
duringthemembershipperiod;lifetimemembershipsareamortizedonastraight‐linebasisoveran
estimated life of 10 years. Amounts received for registration, transfer and other member services
arereflectedinincomeastherequiredprocessiscompleted.
WorldChampionshipShow:Incomefromshowsisdeferredandrecognizedasincomeintheperiod
inwhichtheshowtakesplace.
Sponsorships: Sponsorship income is deferred and recognized as income in accordance with the
termsofvarioussponsorshipagreements.
Publications, advertising and circulation: Subscriptions for the Association's trade publications are
deferredandrecognizedasincomeduringthesubscriptionperiod.
IncentiveFundandRacingChallengeprograms:AllIncentiveFundreceiptsandinvestmentearnings
(losses) are credited to deferred income until incurred. The Association recognizes revenue and
expensefortheseprogramsfortheamountofprizemoniesandpurseawardspaid(seeNote6).
Giftstoresales:Giftstoresalesarerecognizedatthetimeofsale.
Other:Incomefromawards,showprocessingfees,andrecordsanddatabaseresearchisrecognized
whenearned.
Functionalallocationofexpenses–ThecostsofprovidingtheactivitiesoftheAssociationhavebeen
summarizedonafunctionalbasisintheconsolidatedstatementsofactivities.Accordingly,certaincosts
havebeenallocatedamongtheprogramsandsupportingservicesbenefited.
9
25
26
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note2–SummaryofSignificantAccountingPolicies(continued)
Recentaccountingpronouncement–InApril2015,theFinancialAccountingStandardsboard(FASB)
issuedAccountingStandardsUpdate(ASU)2015‐07,FairValueMeasurement(Topic820):Disclosures
for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). The
amendmentsremovethe requirementtocategorizewithinthefairvaluehierarchyallinvestmentsfor
which fair value is measured using the net asset value per share practical expedient (NAV practical
expedient). ASU 2015‐07 has been adopted for the year ended September 30, 2015, however, the
retrospective approach requires that an investment for which fair value is measured using a NAV
practical expedient be removed from the fair value hierarchy in all periods presented in the financial
statements.Accordingly,theinvestmentdisclosuresinNote4havebeenmodifiedasofSeptember30,
2014aswell.
Note3–ContributionsReceivable
AtSeptember30,contributionsreceivableareasfollows:
2015
2014
Withinoneyear
Onetofiveyears
Afterfiveyears
Total
Allowancefordoubtfulaccounts
Unamortizeddiscount
Totalcontributionsreceivable,net
$ 99,042
248,498
16,200
363,740
(114,255)
(46,518)
$202,967
$289,087
183,710
84,788
557,585
(118,310)
(78,065)
$361,210
Note4–FairValueMeasurements
Accounting Standard Codification 820 Fair Value Measurements and Disclosure establishes a fair value
hierarchythatprioritizedtheinputstovaluationtechniquesusedtomeasurefairvalueintothreebroad
levels.Inputsreferbroadlytotheassumptionsthatmarketparticipantswoulduseinpricingtheassetor
liability.
Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions
marketparticipantswoulduseinpricingtheassetorliabilitydevelopedbasedonmarketdataobtained
from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the
reportingentity’sownassumptionsabouttheassumptionsmarketparticipantswoulduseinpricingthe
assetorliabilitybasedonthebestinformationavailableinthecircumstances.
Theobjectiveofthefairvaluemeasurementistodeterminethepricethatwouldbereceivedtosellan
asset or paid to transfer a liability in an orderly transaction between market participants at the
measurement date. Valuation techniques used to measure fair value shall maximize the use of
observableinputsandminimizetheuseofunobservableinputs.
10
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note4–FairValueMeasurements(continued)
Thefairvaluehierarchyprioritizestheinputsintovaluationtechniquestomeasurefairvalueintothree
broadlevels.Theyareasfollows:
Level1–arequotedprices(unadjusted)inactivemarketsforidenticalassetsorliabilitiesthatthe
reportingentityhastheabilitytoaccessatthemeasurementdate.
Level 2 – are inputs other than quoted prices included withinLevel 1 that are observable for the
assetorliability,eitherdirectlyorindirectlythroughcorroborationwithobservablemarketdata.
Level 3 – are unobservable inputs for the asset or liability that are inputs that reflect the
Association’sownassumptionsabouttheassumptionsmarketparticipantswoulduseinpricingthe
assetorliability.
The fair value hierarchy gives the highest priority for quoted prices (unadjusted) in active markets
(Level1)andthelowestprioritytounobservableinputs(Level3).
Equity Mutual Funds, Domestic Common Stock, Debt and Mortgage Backed Securities – these
classificationsconsistofinvestmentsinvariousfundsandsecuritiesthathavedifferinginvestmentgoals
thataretradedinanactivemarket.
Investments Measured at Net Asset Value (NAV) – this classification is invested in a portfolio of real
property located in the United States. The General Partner of each partnership has the authority and
discretion to manage and control the affairs of the Partnership, including selecting real property to
invest in and when to sell owned assets. Investments held by the limited partnership generally are
carried at fair value as determined by the respective general partners and may be based on various
pricing models. The fair values of the investments in this category have been determined using the
practical expedient methodology and are therefore valued at net asset value. The ability to liquidate
these investments in the limited partnerships are restricted in accordance with the provisions of the
partnership agreements, which state that invested capital is not returned until the dissolution of the
partnerships.
Theinvestmentpolicyallowsforacertainrangeoftheinvestmentportfoliotobeinvestedinalternative
investmentinstruments.TheAssociation’sinvestmentsinthesealternativeinvestmentinstrumentsare
carried at the aggregate net asset value of the shares held by the Association. The net asset value is
based on the net market value of the alternative investment instrument’s investment portfolio as
determinedbythemanagementofthealternativeinvestmentinstrument.TheAssociation’sinvestments
inalternativeinvestmentinstrumentsareinlimitedpartnerships,whichinvestinrealestateassets.
The inputs or methodology used for valuing financial instruments are not necessarily an indication of
therisksassociatedwithinvestinginthoseinstruments.Investmentsmaybeexposedtovariousrisks
suchasinterestrate,marketandcredit.Duetothelevelofriskassociatedwithsuchinvestmentsand
the level of uncertainty related to changes in the value of such investments, it is at least reasonably
possible that changes in risks in the near term could affect investment balances and the amounts
reportedinthefinancialstatements.
11
27
28
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note4–FairValueMeasurements(continued)
TheAssociationassessesthelevelsoftheinvestmentsateachmeasurementdate,andtransfersbetween
levelsarerecognizedontheactualdateoftheeventorchangeincircumstancesthatcausedthetransfer
inaccordancewiththeAssociation'saccountingpolicyregarding therecognitionoftransfersbetween
levels of the fair value hierarchy. For the years ended September 30, 2015 and 2014, there were no
significanttransfersamongfairvaluelevels.
InvestmentsatSeptember30,2015areasfollows:
Equitymutualfunds
Domesticcommonstock
Debtandmortgagebackedsecurities
Totalassetsinthefairvaluehierarchy
InvestmentsmeasuredatNAV
Level1
$40,570,608
14,384,600
11,424,743
$66,379,951
Level2
$‐
‐
‐
$‐
Level3
$‐
‐
‐
$‐
Investmentsatfairvalue
InvestmentsatSeptember30,2014areasfollows:
Equitymutualfunds
Domesticcommonstock
Totalassetsinthefairvaluehierarchy
InvestmentsmeasuredatNAV
Level1
$55,286,647
16,693,607
$71,980,254
Total
$40,570,608
14,384,600
11,424,743
$66,379,951
3,298,527
$69,678,478
Level2
$‐
‐
$‐
Level3
$‐
‐
$‐
Investmentsatfairvalue
Total
$55,286,647
16,693,607
$71,980,254
2,990,080
$74,970,334
Thefollowingtableprovidesadditionalinformationforinvestmentsincertainentitiesthatmeasurefair
valueusingtheNAVpracticalexpedient:
FairValueat
September30,
2015
JMTexasLandFundNo.4,L.P.
$2,026,664
NewBostonInstitutionalFund,L.P.,VI
1,271,863
EndingBalance
$3,298,527
Redemption
Frequency
(ifcurrently
eligible)
N/A,redemption
upondissolution
N/A,redemption
upondissolution
Redemption
Notice
Period
Unfunded
Commitments
N/A
$‐
N/A
$‐
12
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note4–FairValueMeasurements(continued)
The following schedule summarizes the investment return and its classification in the consolidated
statementofactivitiesfortheyearsendedSeptember30:
2015
2014
Interestanddividends
Netrealizedandunrealized(loss)gain
Totalreturnoninvestments
$ 1,660,829
(2,878,215)
$(1,217,386)
$1,370,135
5,634,588
$7,004,723
Investmentexpensesare$265,731and$213,980atSeptember30,2015and2014,respectively.
Note5–PropertyandEquipment
AtSeptember30,propertyandequipmentconsistedofthefollowing:
Depreciableassets
Buildingandimprovements
Furnitureandequipment
Collectionsandexhibits
Totaldepreciableassets
Accumulateddepreciation
Totaldepreciableassets,net
Land
Developmentofpropertyandequipment
Non‐depreciablecollectionsandexhibits
Totalpropertyandequipment,net
2015
$17,421,789
10,924,942
4,005,415
32,352,146
(20,006,094)
12,346,052
420,772
2,275,872
1,768,744
$16,811,440
2014
$17,515,756
10,211,691
3,997,907
31,725,354
(18,023,267)
13,702,087
420,772
698,592
1,753,744
$16,575,195
Depreciation and amortization expense was $2,002,703 and $1,932,163 at September 30, 2015 and
2014,respectively.
Note6–IncentiveFundandRacingChallengeProgramDeferredIncome
Incentive Fund – The AQHA Incentive Fund is a program whereby AQHA sanctioned show
participantsandbreederswincashprizesbasedontotalpointsaccumulatedduringeachshowyear.
Inordertobeeligible,breedersmustpaynominationfeesfortheirstallionsandfoals.Thenomination
fees and the related investment income represent the source of funds for the cash prizes awarded.
NominatedstallionsandfoalsareeligibletoreceivepaymentsfromtheIncentiveFundbasedontotal
showpointsearnedduringthepreviousyear.
13
29
30
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note6–IncentiveFundandRacingChallengeProgramDeferredIncome(continued)
ThefollowingisasummaryofactivityoftheIncentiveFundfortheyearsendedSeptember30:
2015
2014
Balanceoffund,beginningofyear
Nominationreceipts
Investmentincome
Incentivefunddisbursements
Balanceoffund,endofyear
$ 6,700,101
1,168,309
56,714
(2,200,699)
$5,724,425
$7,140,053
1,485,281
724,034
(2,649,267)
$6,700,101
TheinvestmentbalanceallocatedtotheIncentiveFundasofSeptember30,2015and2014isincluded
intheinvestmentbalanceshownonthestatementsoffinancialposition.
Racing Challenge – The AQHA Racing Challenge is an incentive‐type program open to all registered
foals. The Racing Challenge receives funds from individuals for the nomination of their horses.
Nominations received are used to supplement purse awards at Challenge races and are paid to the
nominators and owners as bonus awards. Race entry fees are received from individuals to enter a
Challenge race and are added to the purse award, along with the amount contributed by corporate
sponsors. Investment income attributable to the Racing Challenge is included in the purse awards as
well.
ThefollowingisasummaryofactivityoftheRacingChallengefortheyearsendedSeptember30:
2015
2014
Balanceoffund,beginningofyear
Programreceipts
Investmentincome
Programdisbursements
Balanceoffund,endofyear
$ 4,148,527
2,358,100
(267,570)
(2,677,739)
$3,561,318
$4,520,303
3,445,712
225,669
(4,043,157)
$4,148,527
TheinvestmentbalanceallocatedtotheRacingChallengeasofSeptember30,2015and2014isincluded
intheinvestmentbalanceshownonthestatementsoffinancialposition.
14
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note7–OtherDeferredIncome
Deferred income, not including deferred income related to the Incentive Fund and Racing Challenge
programs,consistedofthefollowingatSeptember30:
2015
2014
Deferredbreederaccount
Deferredmembershipincome
Deferredpublicationsincome
DeferredWorldChampionshipShowsincome(netof
prepaidexpenseof$773,490and$563,064)
Otherdeferredincome
Totalotherdeferredincome
$ 3,324,157
7,898,861
729,839
$3,215,265
8,048,665
775,301
$17,315,674
$17,330,499
2,859,143
2,503,674
2,862,615
2,428,653
Note8–EmployeeBenefitPlans
Definedbenefitplan–TheAssociationhasanoncontributorydefinedbenefitpensionplan(thePlan)
limited to participants who were in the Plan as of October 31, 2003, or active employees as of
October31, 2003 that subsequently become eligible by reaching 21 years of age and completing one
year of eligible service. Benefits are based on years of service and the average of each participant's
highestfiveyearsofcompensationoutofthelastfifteencalendaryears.
ItistheAssociation'spolicytofundthePlanconsistentwiththeERISAminimumfundingrequirements.
Contributions are intended to provide not only for benefits attributed to service to date but also for
thoseexpectedtobeearnedinthefuture.Contributionsarepredominantlyinvestedinequitysecurities.
Theactuarialpresentvalueofbenefitobligationsiscalculatedbasedoncertainassumptionspertaining
tointerestrates,inflationratesandemployeecompensationanddemographics.Duetotheuncertainties
inherentinsettingassumptions,itisreasonablypossiblethatchangesintheseassumptionswilloccurin
theneartermandtheeffectofsuchchangescouldbematerialtotheconsolidatedfinancialstatements.
TheAssociationfollowsFASBguidancesurroundingemployers'accountingfordefinedbenefitpension
andotherpostretirementplans,whichrequirescompaniesthatsponsorsingle‐employerdefinedbenefit
planstorecognizethefundedstatusofsuchplansintheirstatementoffinancialposition.Forpension
plans, the funded status is measured as the difference between plan assets at fair value and the
projectedbenefitobligation.Gainsandlossesandpriorservicecoststhatariseduringtheperiod,butare
notrecognizedascomponentsofnetperiodicbenefitexpense,arerecognizedasaseparatelineitemor
itemswithinchangesinunrestrictednetassets.
15
31
32
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note8–EmployeeBenefitPlans(continued)
Obligationsandfundedstatus:
2015
Cashandcashequivalents
Planassetsatfairvalue
$ 490,509
44,650,952
ProjectedbenefitobligationatSeptember30
Fundedstatus
Accruedbenefitcostrecognizedintheconsolidated
statementsoffinancialposition
Benefitcost
Employercontributions
Benefitspaid
$ (49,241,060)
(4,099,599)
TotalplanassetsatSeptember30
2014
$ 386,373
46,489,911
$45,141,461
$46,876,284
(4,099,599)
689,671
1,200,000
1,678,205
(3,598,755)
830,397
1,200,000
1,495,681
$(50,475,039)
(3,598,755)
The projected accumulated benefit obligation for the defined benefit pension plan was approximately
$49,241,060and$50,475,000atSeptember30,2015and2014,respectively.
Assumptions:
2015
2014
Weightedaverageassumptionsusedtodeterminebenefit
obligationsatSeptember30:
Discountrate
Rateofcompensationincrease
Weightedaverageassumptionsusedtodeterminenet
periodicbenefitcostforyearsendedSeptember30:
Discountrate
Expectedreturnofplanassets
Rateofcompensationincrease
4.90%
2.50%
4.40%
3.00%
4.40%
7.00%
3.00%
4.70%
7.00%
3.00%
TheAssociation'sexpectedrateofreturnonplanassetsisdeterminedbytheplanassets'historicallong‐
term investment performance, current asset allocation and estimates of future long‐term returns by
assetclass.
16
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note8–EmployeeBenefitPlans(continued)
Changes in plan assets and benefit obligations recognized in changes in unrestricted net assets are as
follows:
2015
2014
Interestcost
Servicecost
Amortizationofpriorservicecredit
Expectedreturnonplanassets
Netlossamortization
Totalrecognizedinnetperiodicpensioncostand
unrestrictednetassets(recordedingeneraland
administrativeexpense)
Actuariallossrecognizedinnetassetsnotyetincluded
innetperiodicpensioncost
$ 2,166,681
822,302
(47,782)
(3,255,678)
1,004,148
$2,122,996
788,498
(255,084)
(2,894,291)
1,068,278
$689,671
$830,397
$1,011,174
$25,975
Plan assets – The Association's pension plan weighted‐average asset allocations at September 30 by
assetcategoryareasfollows:
2015
2014
Assetcategory
Cash
Bonds
U.S.Treasury
Corporate
Assetbackedsecurities
MutualFunds
Equity
Balanced
Bonds
Realestate
Internationalsecurities
Commonstock
1%
1%
39%
5%
11%
12%
3%
15%
41%
5%
10%
9%
2%
18%
4%
2%
8%
100%
4%
3%
7%
100%
TheAssociation'sinvestmentpolicyforplanassetsistomanagetheportfoliotopreserveprincipaland
liquidity while maximizing the return on the investment portfolio through the full investment of
availablefunds.Theportfolioisdiversifiedbyinvestinginmultipletypesofinvestment‐gradesecurities.
Theinvestmentpolicyrequiresassetsoftheplantobeprimarilyinvestedinshort‐termsecuritieswith
atleastaninvestmentgraderatingtominimizeinterestrateandcreditrisk,aswellastoprovideforan
immediatesourceoffunds.
17
33
34
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note8–EmployeeBenefitPlans(continued)
The Association attempts to mitigate investment risk by rebalancing between equity and bond asset
classes periodically. Although changes in interest rates may affect the fair value of the investment
portfolio and cause unrealized gains or losses, such gains or losses would not be realized unless the
investmentsaresold.
Cash flows – The Association contributed more than the IRS minimum required contribution for the
planyearsendedSeptember30,2015and2014intheamountof$1,200,000,duringeachyear.Atthis
time,theAssociationanticipatescontributingtheIRSminimumrequiredcontributionforthe2016fiscal
year.Thisamountisnotcurrentlyavailable,andtheAssociationmayprovideadditionalfundingforthe
plan.
Thefollowingbenefitpayments,whichreflectexpectedfutureservice,asappropriate,areexpectedtobe
paid:
2016
$ 1,933,543
2017
2,155,939
2018
2,253,662
2019
2,320,612
2020
2,482,771
2021andThereafter
14,440,126
$25,586,653
Equity Mutual Funds, Balanced Mutual Funds, Bond Mutual Funds, International Common Stock, Debt
Securities,andMortgageBackedSecurities–theseclassificationsconsistofinvestmentsinvariousfunds
andsecuritiesthathavedifferinginvestmentgoalsthataretradedinanactivemarket.
Investments Measured at Net Asset Value (NAV) – this classification is invested in a portfolio of real
property located in the United States. The General Partner of each partnership has the authority and
discretion to manage and control the affairs of the Partnership, including selecting real property to
invest in and when to sell owned assets. Investments held by the limited partnership generally are
carried at fair value as determined by the respective general partners and may be based on various
pricing models. The fair values of the investments in this category have been determined using the
practical expedient methodology and are therefore valued at net asset value. The ability to liquidate
these investments in the limited partnerships are restricted in accordance with the provisions of the
partnership agreements, which state that invested capital is not returned until the dissolution of the
partnerships.
18
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note8–EmployeeBenefitPlans(continued)
InvestmentsatSeptember30,2015areasfollows:
Commonstocks
MutualFunds:
Equity
Balanced
Bonds
Internationalsecurities
DebtSecurities:
U.S.Treasurybonds
U.S.Corporatebonds
Mortgagebackedsecurities
Totalassetsinthefairvaluehierarchy
InvestmentsmeasuredatNAV
Level1
$6,944,241
17,788,534
2,289,983
4,798,933
1,473,188
1,568,371
‐
‐
$34,863,250
Level2
$‐
Level3
$‐
Total
$6,944,241
819,208
3,429,502
$4,248,710
‐
‐
‐
$‐
1,568,371
819,208
3,429,502
$39,111,960
‐
‐
‐
‐
‐
‐
‐
‐
Investmentsatfairvalue
InvestmentsatSeptember30,2014areasfollows:
Commonstocks
MutualFunds:
Equity
Balanced
Bonds
Internationalsecurities
DebtSecurities:
U.S.Treasurybonds
U.S.Corporatebonds
Mortgagebackedsecurities
Totalassetsinthefairvaluehierarchy
InvestmentsmeasuredatNAV
Investmentsatfairvalue
17,788,534
2,289,983
4,798,933
1,473,188
5,538,992
$44,650,952
Level1
$8,352,258
Level2
$‐
Level3
$‐
Total
$8,352,258
2,040,212
‐
‐
$37,857,487
1,271,258
3,082,684
$4,353,942
‐
‐
‐
$‐
2,040,212
1,271,258
3,082,684
$42,211,429
19,244,265
2,324,430
4,728,943
1,167,379
‐
‐
‐
‐
‐
‐
‐
‐
19,244,265
2,324,430
4,728,943
1,167,379
4,278,482
$46,489,911
Nochangesintheinvestmentvaluationtechniquesoccurredduringtheperiodspresented.
Defined contribution plan – The Association established a defined contribution 401(k) plan (the
401(k)Plan)during1997.Employeesareeligibletoparticipateuponemploymentandreachingage18.
The401(k)PlanissubjecttotheprovisionsoftheEmployeeRetirementIncomeSecurityActof1974.
Underprovisionsofthe401(k)Plan,eligibleemployeesareallowedtocontributeupto100%oftheir
compensation each year, up to the maximum limits established by the Internal Revenue Service. The
Associationhastheoptiontomakecontributionstothe401(k)Plan.TheAssociationalsoprovidesfora
100%employermatchingcontributiontothe401(k)Planasitrelatestocertainparticipants,uptoa
maximum matching contribution of 6% of participant deferrals. The participants covered under the
matching provision are those employees not otherwise eligible for participation in the American
QuarterHorseAssociationEmployeePensionPlan(thoseemployeeshiredsubsequenttoNovember1,
2003).FortheyearsendedSeptember30,2015and2014,theAssociationcontributedapproximately
$250,000and$226,000,respectively,totheAmericanQuarterHorseAssociation401(k)Plan.
19
35
36
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note9–NetAssets
Restricted purposes for temporarily and permanently restricted net assets at September 30 are as
follows:
Operations
Research
Education
Scholarships
Fundraising
Temporarily
Restricted
2015
$437,424
541,920
1,226,754
938,298
151,112
$3,295,508
Permanently
Restricted
$10,289,383
5,825,072
2,115,516
6,767,820
‐
$24,997,791
Temporarily
Restricted
$261,903
839,084
1,693,801
1,140,901
57,967
$3,993,656
2014
Permanently
Restricted
$10,023,573
5,295,593
1,969,121
6,422,810
‐
$23,711,097
Note10–Endowment
Endowment – The AQHF endowment consists of several different individual funds established for a
varietyofpurposes.AQHF'sBoardofTrusteesdoesnothavetheabilitytodistributeanyamountofthe
donor's initial permanently restricted contribution. In accordance with the Uniform Prudent
Management of Institutional Funds Act (UPMIFA), the Foundation considers the following factors in
makingadeterminationtoappropriateoraccumulatedonor‐restrictedendowmentfunds:
(1) Thedurationandpreservationofthefund
(2) Thepurposesoftheorganizationandthedonor‐restrictedendowmentfund
(3) Generaleconomicconditions
(4) Thepossibleeffectofinflationanddeflation
(5) Theexpectedtotalreturnfromincomeandtheappreciationofinvestments
(6) Otherresourcesoftheorganization
(7) Theinvestmentpoliciesoftheorganization
Endowment investment and spending policies – The Association has adopted investment and
spending policies for endowment assets that attempt to provide a predictable stream of funding to
programs supported by its endowment. The Association's investment and spending policies work
together to achieve this objective. The investment policy establishes an achievable return objective
through diversification of asset classes. The current long‐term return objective is to compare to a
similarly weighted benchmark representing the returns of the S&P 500 Index and the Intermediate
Government/CorporateIndex.
The Association targets a diversified asset allocation that places a greater emphasis on asset
preservationwhilestrivingtoachieveitslong‐termreturnobjectiveswithinprudentriskparameters.
20
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note10–Endowment(continued)
The spending policy calculates the amount of money annually distributed from the earnings of the
Association's various endowed funds.The current spending policy is to distribute an amount equal to
5% of the trailing thirty‐six month average principal balance, limited to available undistributed
earnings.
ThechangesinendowmentnetassetsforthefiscalyearsendedSeptember30aresummarizedbelow:
Unrestricted
Temporarily
Restricted
Permanently
Restricted
EndowmentnetassetsatSeptember30,2013
Contributions
Investmentreturnonendowmentassets
Netassetsappropriatedforexpenditure
$‐
‐
‐
‐
$1,500,170
‐
2,491,249
(1,646,720)
$22,654,998
912,659
143,440
‐
EndowmentnetassetsatSeptember30,2015
$(316,483)
$1,374,738
$24,997,791
EndowmentnetassetsatSeptember30,2014
Contributions
Investmentreturnonendowmentassets
Netassetsappropriatedforexpenditure
‐
‐
(313,733)
(2,750)
2,344,699
‐
(454,001)
(515,960)
23,711,097
1,244,198
42,496
‐
AllEndowmentnetassetsconsistofdonor‐restrictedendowmentfunds.
Note11–CommitmentsandContingencies
TheAssociationispartytocertainlegalproceedingsandothermattersarisingfromtimetotimeinthe
normal course of business. Management believes that such legal procedures will not have a material
adverseeffectontheAssociation'sfinancialpositionoractivities.
On August22, 2013, a judgment was entered against AQHA in the cloning lawsuit which involved
antitrust claims brought against AQHA related to its decision not to register cloned horses or the
offspringofclones.Inthejudgment,theTrialCourtassesseddamagesof$31,581(forcourtcosts)and
$891,387(forattorneys’fees)togetherwithinterest.However,initsverdict,thejuryawardednoactual
damages. Therefore, the only money damages awarded in the Trial Court’s judgment were for court
costsandattorneyfees.AQHAtimelyappealedtheTrialCourt’sjudgmenttotheU.S.FifthCircuitCourt
of Appeals (“Fifth Circuit”). On January 14, 2015, the Fifth Circuit reversed the judgment of the Trial
Court,includingtheawardofanydamages,andrenderedjudgmentinfavorofAQHA.TheFifthCircuit
further ordered that the Plaintiffs in the cloning lawsuit pay all costs of appeal. The Plaintiff’s filed a
MotionforRehearingandtheMotionwasdenied.ThePlaintiffsnowhaveuntilJanuary31,2016tofilea
Petition for Review with the United States Supreme Court if they wish to further appeal the decision.
BarringareversaloftheFifth’sCircuitdecision,AQHAwillremaintheprevailingpartyandwillnothave
topayanydamages.AreversaloftheFifthCircuit’sdecisionwouldresultinthejudgmentoftheTrial
Courtbeingreinstated,includingtheawardofdamagesreferencedabove.Werethattohappen,AQHA
hasantitrustinsurancecoveragethroughtheD&Opolicywhichwillcoverthepaymentofanydamages.
21
37
38
F I N A N C I A L Statements
AMERICANQUARTERHORSEASSOCIATION
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
Note12–NotesPayable
TheAssociation’snotespayableconsistofthefollowingatSeptember30:
$600,000loanwithAmarilloNationalBank;monthly
paymentsof$10,798,interestat3%;maturing
May1,2018;securedbyNegativePledgeAgreement.
2015
2014
$ 331,281
$448,832
1,029,317
1,291,648
$1,375,000loanwithAmarilloNationalBank;monthly
paymentsof$24,683,interestat2.85%;maturing
May1,2019;unsecured.
Lesscurrentportionoflong‐termdebt
Long‐termnotespayable,netofcurrentportion
1,360,598
(391,556)
$ 969,042
2016
2017
2018
2019
2020
$ 391,556
403,124
371,454
194,464
‐
Aggregatematuritiesonlong‐termdebtatSeptember30,2015areasfollows:
1,740,480
(380,364)
$1,360,116
$ 1,360,598
Interest expense was $45,894 and $30,922 for the years ended September30, 2015 and 2014,
respectively.
Note13–SubsequentEvents
The Association has evaluated the impact of all subsequent events of the Association through
January26, 2016, the date the consolidated financial statements were available to be issued. No
subsequenteventswereidentifiedbymanagementthatrequiredrecordingintheconsolidatedfinancial
statementsornotesfortheyearendedSeptember30,2015.
AsofOctober1,2015,theAssociationseparateditsAwardsRecognitionConceptsdepartment.Itisnow
alimitedliabilitycompany,AwardsRecognitionConcepts,LLC.
22
P A S T
A Q H A
P R E S I D E N T S
PAST AQHA PRESIDENTS
*W. B. Warren, 1940, Texas
*W. B. Warren, 1941, Texas
*J. F. Hutchins, 1942, Texas
*J. F. Hutchins, 1943, Texas
*R. L. Underwood, 1944, Texas
*R. L. Underwood, 1945, Texas
*Albert C. Becker, 1977, Kansas
*Bill G. Reed, 1978, New Mexico
*David M. Perkins, 1979, Louisiana
*B. F. Phillips Jr., 1980, Texas
Marten A. Clark, 1981, California
Robert C. Norris, 1982, Colorado
*Jack Anderson, 1983, Oklahoma
*Albert Mitchell, 1946, New Mexico
*Albert Mitchell, 1947, New Mexico
*Albert Mitchell, 1948, New Mexico
*Robert E. Hooper, 1949, Texas
*Robert E. Hooper, 1950, Texas
*Robert E. Hooper, 1951, Texas
*Robert E. Hooper, 1952, Texas
*Orville E. Burtis, 1953, Kansas
*Orville E. Burtis, 1954, Kansas
*Lester Goodson, 1955, Texas
*Lester Goodson, 1956, Texas
*Albert Mitchell, 1957, New Mexico
*J. E. Browning, 1958, Arizona
*Ken Fratis, 1959, California
*Roy Parks, 1960, Texas
*S. M. Moore, 1961, Oklahoma
*Wayne Vickers, 1962, California
*Jess L. Hankins, 1963, Texas
*Hugh Bennett, 1964, Colorado
*Bud Warren, 1965, Oklahoma
*J. L. “Dusty” Rhoades, 1966, Texas
*Tom J. Finley, 1967, Arizona
*E. H. Honnen, 1968, Colorado
*Lee Berwick, 1969, Louisiana
*Jay Pumphrey, 1970, Texas
*William R. Verdugo, 1971, California
*Bud Ferber, 1972, New Jersey
*William R. Thompson, 1973, Oklahoma
*Hugh Peltz, 1974, Montana
*Clarence Scharbauer Jr., 1975, Texas
*Robert Kieckhefer, 1976, Arizona
Rick C. Johns, 1984, Arizona
Stephen J. “Tio” Kleberg, 1985, Texas
**Howard R. Weiss, 1986, California
*Gerald A. O’Connor MD, 1987, Michigan
*Leo Winters, 1988, Oklahoma
Brad Tate, 1989, Kansas
*Sparks Rust Jr., 1990, Texas
Jim Barton, 1991, New York
C. W. “Bill” Englund Jr., 1992, Arizona
*Everett Salley, 1993, Oklahoma
*Richard “Dick” Bingham, 1994, Illinois
R. A. “Rob” Brown, 1995, Texas
*Don Burt, 1996, California
**Ginger Hyland, 1997, California
** Mike J. Perkins, 1998, Oklahoma
Ken T. Smith, 1999, South Carolina
Jerry Windham, 2000, Texas
*J. D. Blondin, 2001, Louisiana
Jim J. Shoemake, 2002, Missouri
R.H. “Steve” Stevens, 2003, Texas
*Frank “Scoop” Vessels III, 2004, California
*Frank Howell, 2005, Georgia
Walter Fletcher, 2006, Kansas
**Frank Merrill, 2007, Oklahoma
Ken Mumy, 2008, Michigan
Jim Helzer, 2009, Texas
Johannes Orgeldinger, 2010, Germany
Peter Cofrancesco, 2011, New Jersey
*Gene Graves, 2012, Nebraska
Johne Dobbs, 2013, Illinois
Johnny Trotter, 2014, Texas
*Deceased
**State of Residency During Presidential Term
P.O. Box 200, 79168
1600 ≤uarter Horse Dr., 79104
Amarillo, TX • (806) 376-4811
aqha.com

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