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New York State Thoroughbred Breeding and Development Fund Corporation

New York State Thoroughbred Breeding and Development Fund
Flag of New York.svg
New York State public benefit corporation overview
Formed1973 (1973)
JurisdictionPromotion by funding of the breeding of thoroughbred racehorses and to preserve New York’s farmland
HeadquartersOne Broadway Center 1st Floor
Schenectady, New York 12305
New York State public benefit corporation executive
  • Tracy Egan, Executive Director
Websitewww.nybreds.com

The New York State Thoroughbred Breeding and Development Fund Corporation is a New York State public-benefit corporation whose purpose is to dispose and distribute monies received for the purposes of advancement and promotion of breeding and raising thoroughbreds in N.Y.S., promotion of equine research, various awards to owners and breeders of N.Y.S. thoroughbreds for finishing 1st, 2nd, 3rd, or 4th in races, and providing of purse monies for races exclusively for New York Breeds.[1] The fund was established in 1973 and has paid out more than $17 million annually in breeder, owner and stallion owner awards, and in purse enrichment to the state’s tracks.[2]

Funding

The incentives provided by the Fund are financed from within the racing industry, using a small percentage of the total monies wagered through the pari-mutuel system on thoroughbred racing in New York State. The Fund also obtains revenue from a small percentage of Video Lottery Terminal (VLT) monies from the Resorts World Casino NY at Aqueduct, and from VLTs at Finger Lakes Race Track.[3]

Organization

The fund has 10 members on its board of directors.[3] In 2017, it had operating expenses of $19.5 million and a staff of 7 people.[4] Former news broadcaster in the capital region, Tracy Egan, is the fund's Executive Director.[5]

See also

References

  1. ^ "NYSOSC General Data Document for the NYSTB&DFC" (PDF). Osc.state.ny.us. November 4, 2018.
  2. ^ "NYSTB&DFC overview webpage". Nybreds.com. November 4, 2018.
  3. ^ a b "New York State Thoroughbred Breeding & Development Fund Corporation". Nybreds.com. Retrieved 5 November 2018.
  4. ^ "NYSABO 2018 Report" (PDF). November 5, 2018. pp. 16, 44.
  5. ^ Paul Post (May 13, 2010). "Egan trades broadcasting for Thoroughbred foundation". www.saratogian.com. Retrieved December 5, 2018.

External links