THETA, TN – On the same day that WWW.BILLYGOBOY.COM raised the issue of TWHBEA Sound Horse Directors not being provided Financial Statements and membership numbers/foal registrations/transfers data regarding the Tennessee Walking Horse Breeders & Exhibitors Association, the following “Statement of Financial Position” was provided to the Directors by TWHBEA Executive Assistant Diane White with the accompanying email message:
“Dear Board Members,
Some have reported that they have not received the minutes and financials from the last board meeting. We have experienced some email difficultly recently so I thought I would go ahead and resend all of the approved minutes from the past months and also the latest approved financials and cash graph. These will be duplicates for most of you, but let me know if you have any difficulty in opening the documents. The August minutes will be reviewed and approved at the upcoming September EC meeting. Upon their approval, I will send these out to you probably sometime the latter part of next week.”
TWHBEA – “STATEMENT OF FINANCIAL POSITION”
Some interesting observations:
- Income from Registrations and Memberships (21 categories) is off $99,888.24 through July 31, 2014.
- The loss for the month of July for Registrations and Memberships is $36, 407.18.
- Pleasure horse revenue was off $4,175.32 for the month of July 2014.
- Membership dues are down $25,339.29 for the year.
- Registration fees for new foals are down $20,012.00 for the year.
- DNA fees for new foals are down $40,990.00 for the year.
- Legal expenses are $27, 647.50 in 2014 vs $9,180.00 for 2013 – an increase of $18,467.50.
- There is an overall $34,203.23 reduction in expenses for 2014 vs 2013.
- International Travel is $6,819.00 in 2014 vs $ 977.00 in 2013 – increase $5,842.61.
- International Exhibits, Trade Fairs, Expos is $3,400.17 in 2014 vs $13,012.59 in 2013.
- National Travel is $8,998.00 in 2014 vs $6,576.00 in 2013.
- National Exhibits, Trade Fairs, Expos is $2,062.00 in 2014 and $10,628.00.
- Promo Literature is $ -0- in 2014 and $4,659.00 in 2013.
- Celebration Premier Sponsorship is $ -0- in 2014 and $4,000.00 in 2013.
- Merchandise sales is $9,470.00 for 2014 and $14,062.00 for 2013 – a $4,592.00 decrease.
- Actual Revenue through July 31, 2014 was $710,738.00 and actual was $863,826.00 – Off by $153,087.00.
- Actual Expenses through July 31, 2014 was $792,369.00 and budget was $907,281.00 – Difference – $114,911.00.
- The net difference through July 31, 2014 budgeted Revenue vs Expense was – -$38,177.00.
Overall, TWHBEA has cut expenses (including donuts) but is taking a terrific toll in revenue loss from the soring stigma overhanging the breed registry.
The following is information that WAS provided to the TWHBEA Directors in April 2014, but has not been provided since that time.
(MAY 22, 2014 WWW.BILLYGOBOY.COM REPORT)
- 281 (65%) U. S. Representatives are co-sponsoring the PAST ACT. NOW 305
- 54 (soon to be 55) Senators are co-sponsoring the PAST ACT. NOW 58
- 63% of the U.S. Congress support passage of the PAST ACT. NOW 70%
- 63% of TWHBEA members support passage of the PAST ACT.
- The Directors have not been provided any financial information regarding the business of the association since March 2014.
- TWHBEA has been losing approximately 75 ““ 100 members a month since September 2013.
- In April 2014, the decrease was 225 members a month.
- In April 2014, the monthly revenue decreased $23,170.00, 54% from April 2012.
- The membership has declined from 6,950 eligible to vote on September 10, 2013 to approximately 6,350 in mid-March 2014.
- It is estimated that the eligible to vote TWHBEA members is now 6,125.
- Continuing this trend, TWHBEA will lose 2,325 members in 12 months from Dec. 2013 ““ Nov. 2014.
- That will make TWHBEA eligible to vote members at 4,950 in 12 months ““ a 29% member decrease in 12 months.
NOTE (SEP 10, 2014): TWHBEA MEMBERSHIP IS 5,458 + 250+/- INTERNATIONALS = 5,708 VOTING ELIGIBLE MEMBERS. ON SEP. 10, 2013, THERE WERE 6,950 VOTING ELIGIBLE MEMBERS. TWHBEA HAS LOST 1,242 MEMBERS IN 12 MONTHS. A LOSS OF 104 MEMBERS A MONTH – LOSS OF 18% IN 12 MONTHS.
MEMBERS RENEWING RENEWAL INCOME
APRIL 2012 762 $5O, 335.00
APRIL 2013 841 48,235.00
APRIL 2014 458 27,165.00
60% LOSS $23,170.00 DECREASE ““ 54% DECREASE
TWHBEA’s Executive Committee is scheduled to meet from 8:00 A. M. to 11:00 P.M. on Friday, May 23, 2014.
The various Committee meetings will be held the rest of Friday.
The Semi-Annual Meeting of TWHBEA’s Directors will take place at 9:00 A.M. on Saturday, May 24, 2014.
It will be interesting to see what transpires in the Saturday session.
In the past, Steve Smith has been known for his bullying, heavy-handed, arrogant, dictatorial manner in handling the business of TWHBEA.
There has been a noted lack of transparency.
Steve Smith’s Sancho Panza Walt Chism did a Joe Willie Namath on January 28, 2014 when he said the following:
“I’ll do the Joe Namath, we will have more members at the end of the year than at the beginning, we’ll show a surplus of income over expenses and we’ll provide more services , I guarantee it.” Walt Chism
The TWHBEA August 2014 “Statement Of Financial Affairs” proves that as long as the sore Big Lick stigma hangs over the Tennessee Walking Horse breed, the future is dim.
The reality of the soring has adversely affected the value and image of the entire Tennessee Walking Horse breed.
In 2014, the Public will no longer accept the soring and it will no longer patronize the Tennessee Walking Horse business until the pads and chains are removed, and the USDA takes over enforcing the Horse Protection Act.
Mares are being not bred, and horses are not being registered or sold.
It will be interesting to see if the Sound Directors can effectively persuade the TWHBEA members to reject Steve Smith’s “DARK SIDE” By-Law Changes.
Pat Stout was successful with “The Poll” which allowed the TWHBEA members an opportunity to vote on the PAST ACT winning 63% to 37%.
If competently managed, Nephew Eugene says there’s no reason the TWHBEA Sound Directors cannot be successful in their efforts to fend off the DARK sore Big Lick attempt to hijack the official Tennessee Walking Horse Breed registry.
All it takes is 50% + 1 to beat the Licker By-Law Changes.
It’s interesting to note that Walt “Joe Willie Namath” Chism is not running for re-election as TWHBEA Director.