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☛ 1000 wild horses to be rounded up in California 10-9-18

Posted by on Oct 9, 2018 in BREAKING NEWS, COW HORSE NEWS, CUTTING NEWS, HORSE ABUSE, HORSE HEALTH, REINING NEWS, WHO, WHAT & WHERE | 0 comments

1000 WILD HORSES TO BE ROUNDED UP IN CALIFORNIA

SOME COULD END UP IN SLAUGHTERHOUSES

By Daniella Silva, U.S. News


Federal officials were set to begin rounding up about 1,000 wild horses from land in northern California to be put up for adoption and sale on Wednesday — but some could end up in slaughterhouses, animal advocates warned.

The horses will be taken from the Devil’s Garden Plateau Wild Horse Territory in the Modoc National Forest in Northern California starting Wednesday, according to the U.S. Forest Service, which manages the land.

The Forest Service has said the area should have up to about 400 adult wild horses under its management plan, but currently the area has almost 4,000.

Animal rights advocates said the move to sell the horses put them at risk of being sold to “kill buyers” who would ship them abroad to slaughter plants to produce horse meat.

“There’s a risk whenever you sell these horses that you’re selling it to someone with nefarious intentions,” D.J. Schubert, a wildlife biologist with the advocacy group Animal Welfare Institute, said Tuesday. “That is not an appropriate fate for protected wild horses.”

Schubert also criticized the tactic of rounding up horse, saying the process can be “quite brutal” on the animals and was shown to actually increase the reproductive rate of the horses that remain.

“There’s plenty of evidence of horses being severely injured to the point of having to be euthanized as a result of these roundups,” he said.

He said a more humane way of managing horse populations was through the use of immunocontraception technology that would reduce the reproductive rate in the horses and lead to population decline.

The American Wild Horse Campaign also denounced the plans to sell some of the horses, saying in a statement that the Forest Service was “exploiting a legal loophole to sell an estimated 300 wild horses ‘without restriction,’ allowing kill buyers to purchase a truckload of 36 horses once a week until they are gone.”

“It’s a sad irony that the first federally protected wild horses in decades to be purposefully sold by the government for slaughter will come from California — a state where the cruel practice of horse slaughter has been banned since the 1990’s,” Suzanne Roy, executive director of the American Wild Horse Campaign, said in the statement.

The Forest Service has said reducing the adult horse population will allow certain ecological conditions to recover, “while also supporting herd health by reducing competition for limited food, water and habitat.”

Younger horses under 10 years old are more likely to be adopted, the Forest Service said, while horses older than 10 years of age who are not adopted will be put up for sale in November.

The American Wild Horse Campaign said the Forest Service will round up about 700 younger mustangs for adoption, but roughly 300 older horses will be made available for sale after 30 days.

The Bureau of Land Management, the federal agency that manages the majority of America’s wild horses and burros, is prohibited from selling the animals for slaughter, the Forest Service is technically not bound by the same condition.

Still, there is nothing requiring the service to make the horses available for sale either, Schubert said.

“The law allows it but it doesn’t require it, they have the direction to do what’s right, to do what’s humane.” he said.

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☛ Dual Pep passes away at age 33

Posted by on Sep 28, 2018 in BREAKING NEWS, COW HORSE NEWS, CUTTING NEWS, HORSE NEWS, INDUSTRY NEWS, REINING NEWS, WHO, WHAT & WHERE | 0 comments

DUAL PEP PASSES AWAY PEACEFULLY AT AGE 33

 

By Glory Ann Kurtz
Sept. 27, 2018

If you’ve ever watched an athletic cutting horse win a major event that has the name “Dual” in his name, chances are that the great sire Dual Pep are in his or her pedigree. However, great horses don’t live forever. So is the case with the great sire Dual Pep.

 

Dual Pep, one of the most influential sires in the cutting horse industry, was humanely euthanized on Tuesday, Sept. 25 at the age of 33. According to his co-owner, Dottie Hill, Glenrose, Texas, who purchased the stallion in 2011, “He left the world gracefully.”

 

She and her husband, Bobby, owned the stallion that died during the Brazos Bash Futurity, one of the most successful cutting-horse aged events of the summer, held Sept. 19-30 in Weatherford, Texas.  Ironically Dual Pep’s daughter Tears From Heaven won the Brazos Bash Futurity Open title, ridden by Michael Cooper, making Dual Pep the oldest living sire ever to have a major cutting futurity champion. In addition Stunner Cat and CDs Kual Gun, whose maternal granddams were sired by Dual Pep, placed second and third in the same event.

 

But that wasn’t out of the ordinary for Dual Pep, who was bred by Nic-A-Lode Farms, that according to the NCHA is in Boise, Idaho, while Equi-Stat says the farms are located in Cody, Wyo. (They are not included in the latest NCHA membership guide.) His breeding was the best as he was sired by Peppy San Badger out of Miss Dual Doc by Doc’s Remedy.

 

At age 6, at the end of his cutting career, Dual Pep had earned $302,054 in earnings, according to NCHA (Equi-Stat says  $307,384) in the cutting pen, including the Open Reserve title of the 1989 Memphis Futurity for then owner, Reidy Land and Cattle company. His next owner was Bobby Pidgeon, who owned a beverage distributing company in Memphis, Tenn., and who bought Dual Pep for his own non-pro mount. In 1991, Pidgeon started up the now well-known Bar H Ranche in Weatherford, Texas and hired Winston Hansma as manager and trainer. Later Winston’s brother Paul Hansma also joined the Bar H Ranche as a trainer. Dual Pep was also shown successfully by Pat Earnheart.

 

However, the sign of a great sire is in his offspring – and Dual Pep got an “A” for that. His offspring earned $24,031,926 according to NCHA ($25.8 million according to Equi-Stat), Dual Pep ranks fifth on the roster of all-time leading sires and is the only stallion among the top five with a son on the list with offspring earning $36,790,588. That was Dual Rey, who also died earlier this year.

 

According to Equi-Stat, Dual Pep’s highest money-earning offspring was Dual Rey Me, foaled in 1999 and shown by Jeremy Barwick, out of Miss Smart Rey Jay x Smart Little Lena ($818,177 according to Equi-stat and $812,942 according to NCHA); Dually Lena, $395,616 earnings, out of Bingos Lena by Doc O’Lena; Olena Dually, $302,342, out of Miss Sabrina Lena by Doc O’Lena; Tapt Twice, $285,226 out of Tap O Lena by Doc O’Lena and Playboy McCrae ($269,583, out of Playboys Madera x Freckles Playboy.

 

Being a broodmare sire is also important and Dual Pep also got an “A” for that. He was a stellar broodmare sire, siring dams of earners of $32.6 million, according to Equi-Stat, including Sister CD (CD Olena x Little Baby Sister x Dual Pep,with earnings of $852,612 and Dont Look Twice (High Brow Cat x Tapt Twice by Dual Pep) winner of $850,628.

 

During his later years, Dual Pep, who will always be remembered as one of the greatest cutting horses, sires and broodmare sires, stood at Dr. Baker’s breeding facility.

 

 

 

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☛ A letter from a concerned Youth Parent

Posted by on Sep 26, 2018 in BREAKING NEWS, COW HORSE NEWS, CUTTING NEWS, HORSE ORGANIZATIONS, REINING NEWS, WHO, WHAT & WHERE | 0 comments

 

A LETTER FROM A CONCERNED NCHA YOUTH PARENT

Date Received: Sept. 26, 2018

The following letter was received from a concerned Youth parent regarding the NCHA Scholarship Selection Committee’s action regarding both chairs of the committee having a “conflict of interest.”

 

From Youth Parent

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☛ A letter to Ron Pietrafeso from a past Executive Board member

Posted by on Sep 26, 2018 in BREAKING NEWS, COW HORSE NEWS, CUTTING NEWS, HORSE ORGANIZATIONS, INDUSTRY NEWS, REINING NEWS, WHO, WHAT & WHERE | 0 comments

A LETTER TO RON PIETRAFESO FROM A PAST EXECUTIVE BOARD MEMBER

Sept. 26, 2018

Today I received a letter from a past Executive Board member saying, “I am sending this letter to you in hopes that you will publish it on your website. Hopefully I can bring a few things to light and hope that some questions get answered by those in charge of our association. Sorry for not sending this through email but to tell the truth I’m not very good at email and social media. Thank you.

Dufurrena letter

 

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☛ NCHA has received $5.2 million from State in past two years 9-26-18

Posted by on Sep 26, 2018 in BREAKING NEWS, COW HORSE NEWS, CUTTING NEWS, HORSE ORGANIZATIONS, REINING NEWS, WHO, WHAT & WHERE | 1 comment

NCHA HAS ACTUALLY RECEIVED OVER $5.2 MILLION FROM THE STATE OF TEXAS IN PAST TWO YEARS

 

A TOTAL OF $530,300 HAS ALSO BEEN RECEIVED THIS YEAR

 

By Glory Ann Kurtz
Sept. 26, 2018
On Sept. 24,  I sent out a newsletter regarding the money NCHA was receiving from the State of Texas. The last two paragraphs of the article were wrong and for that I apologize. THE NCHA HAS BEEN GETTING MONEY FROM THE STATE OF TEXAS FOR THE PAST THREE YEARS.

 

For several years, I haven’t looked up State of Texas funds that repay associations for their events that bring people into the city of Fort Worth and State of Texas. I didn’t realize that they had renamed the METF to the MERP (Major Event Repayment Program) and it is no longer on the same document that most of the other non-profits are located. A couple of my readers realized what had happened and directed me to the MERP page published by the State.  I really appreciate their help.

 

Before I published the article, I called the Governor’s office yesterday to find out the reason why the NCHA wasn’t listed on the METF list; however, to date, they still haven’t returned my call. I also placed a call to Lewis Wray, but he also has ignored my request for a call.

 

THE MERP AND NCHA:

According to the MERP charts, over the past three years, the NCHA has received over $5.2 million from the MERP program of the State of Texas for their three major events: The NCHA Futurity that is held with the NCHA World Finals, the NCHA Summer Spectacular and the NCHA Super Stakes.

 

During 2016, they received $2,562,928 for the 2015 NCHA Summer Spectacular and NCHA Futurity, as well as the 2016 NCHA Summer Spectacular and NCHA Super Stakes.

 

In 2017, they received a total of $2,169,640 for the 2017 NCHA Super Stakes ($725,650) and $1,383,989 for the 2016 Futurity and World Show.

 

So far in 2018, they have received $530,300 for the 2017 NCHA Summer Spectacular. In total for the past three years, they have received $5,262,868 from the MERP program from the State of Texas.

MERP money 2017-2018

 

 

 

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☛ NCHA Tax Return Analysis 9-10-18

Posted by on Sep 10, 2018 in BREAKING NEWS, COW HORSE NEWS, CUTTING NEWS, HORSE ORGANIZATIONS, INDUSTRY NEWS, REINING NEWS, RICK'S CORNER, WHO, WHAT & WHERE | 0 comments

NCHA Tax Return Analysis

Clarification and Risk Analysis

 By Rick Dennis
Sept. 10, 2018

NCHA Tax Return Analysis

 

Clarification and Risk Analysis

 

The following Risk Analysis was performed by the WIND RIVER COMPANY LLC, Richard E. “Rick” Dennis, Analyst at the request of Mrs. Glory Kurtz Ann Kurtz, allaboutcutting.com, and encompasses the latest IRS 990 tax filings for the National Cutting Horse Association.

 

The National Cutting Horse Association is a 501 (C) (3) Nonprofit organization, organized in the State of Texas.  Therefore, the following Risk Analysis should apply whether the company is a for profit or nonprofit with the exception that a for profit pays corporate business taxes and the nonprofit doesn’t pay corporate business taxes. Any profits made by a nonprofit are kept to forward the vision and mission statement of its State business organization and bylaws.

 

What Is A Good Profit Margin?

 

Typically, an operating profit margin of a company should be compared to its industry or a benchmark index like the S&P 500.  For example, the averageoperating profit margin for the S&P was roughly 11% for 2017.  A company that has an operating profit margin higher than 11% would have outperformed the overall market. The National Cutting Horse Associations latest IRS 990 filing’s states on page 12 of their latest tax filing that total revenue is $24,026,610. Total expenses for this specific tax period is $22,941,841.  During this specific tax reporting period, the NCHA’s Income less Expenses is $1,084,769. A quick percentage ratio calculation revealed the NCHA’s Income less Expenses is approximately (4.5%).  This mathematical calculation revealed the NCHAis operating below S&P 500, or below market standards for operating efficiency, e.g., :

 

What Is Considered A Healthy Operating Profit Margin?

 

Operating profit margin is one of the key profitability ratiosthat investors and analysts consider when evaluating a company.  Operating margin is considered to be a good indicator of how efficiently a company manages expenses because it reveals the amount of revenue returned to a company once it has covered virtually all of both its fixed and variable expenses except for taxes and interest. Typically, a healthy operating profit margins ranges from 11% to 20%.

 

What Does Operating Profit Margin Tell Investors and Business Owners?

 

The operating profit margin informs both business owners and investors about a company’s ability to turn a dollar of revenue into a dollar of profit after accounting for all the expenses required to run the business.  This profitability metric is calculated by dividing the company’s income by its total revenue.  There are two components that go into calculating operating profit margins: revenue and operating profit. This metric was used in the forgoing to establish the (4.5%) NCHA Income less Expenses mathematical ratio.

 

Revenue is the top line on a company’s income statement.  Revenue, which is sometimes referred to as net sales, reflects the total amount of income generated by the sale of goods or services.  Revenue refers only to positive cash flow directly attributable to primary operations without withdrawing from a company’s savings or investment programs or loans to sustain operations.  When revenue ratios are low it can indicate a company that’s not very well run.  In a worst case scenario, it’s headed for a disastrous conclusion.

 

The Bottom Line.

A consistently healthy bottom line depends on rising operating profits over time.  Companies use operating profit margin not only to spot trends in growth, but also to pinpoint unnecessary expenses to determine where cost-cutting measures can boost their bottom line.  To gauge a companies performance relative to its peers, investors can compare its finances to other companies within the same industry.  However, this metric is also useful in the development of an effective business strategy as well as serving as a comparative metric for investors.  To learn more financial analysis, please confer with a certified public accountant, economist, or learn“How the Income Statement and Balance Sheet Differ?”

 

NCHA 990 RECAP

There’s a few important elements of this 990 tax return that requires explanation, e.g., :

 

NCHA IRS 990 TAX PERIOD:

 For the 2015 tax year, or tax year beginning 10/01/2015 and ending 09/30/2016.

 

PART IX STATEMENT OF FUNCTIONAL EXPENSES

 Number (7) Other Salaries and Wages:

$2,087,139.00

 

Program Services Expenses

$1,137,015.00

 

Management and General Expenses

$950,124.00

 

The key element to this category is that Management Expenses are calculated at the rate of (45.5%) of total salaries.  I don’t believe these salary quotes takes into consideration of perks to include, but not limited to retirement contribution, insurance, tax contributions, etc. If the foregoing Program services expenses are representative of the 42 employees then the average salary paid to the (42) excluding the management team would calculate to the average salary of being approximately $27,071.78 each.  Check with the NCHA for clarification of the computations.

 

Number (11) Fees for services (non employees)

b – Legal
$140,100.00

c – Accounting
$93,651.00

d – Lobbying

$150,000.00

 

SCHEDULE (O)

 The organizations board of directors has vested all powers of the board of directors in the Executive Committee, except the power to amend by laws and except as otherwise limited by the board of directors or by statute the Executive Committee manages the affairs of the organization between meetings of the board of directors at all times, the Executive Committee is subject to the direction of the board of directors.

 

Essentially, what this clause means is that the NCHA Executive Committee has total control of the NCHA – at all times, except when a meeting of the board of directors is called to order.  Their power is ONLY limited by statute or a majority vote of the board of directors.

Click below for NCHA 990 from Oct. 1, 2015  to Oct. 30, 2016

NCHA 990 for 2015-2016

 

 

 

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