About the Fund
The Agriculture and New York State Horse Breeding Development Fund (the Fund) is a public benefit corporation established in 1965 by the Laverne Law (Laws of New York, Chapter 567 of the Laws of 1965). The mission of the Fund is to promote agriculture through the breeding of standardbred horses and the conduct of equine research within the State. To carry out its legislative mission, the Fund administers the New York Sire Stakes races, Excelsior/State Fair Series races, and County Fair Races. Additionally, the Fund provides assistance to county agriculture societies and contributes to the statewide 4-H program and to the Harry M. Zweig Fund for Equine Research.
2011 ANYSHBDF Financial Statements
The ANYSHBDF Financial Statements are available here, and the ANYSHBDF Report to the Board of Directors is available here.
Financial Overview
The Agriculture and New York State Horse Breeding Development Fund was established by the LaVerne Law in 1965. The law empowered the Fund to promote the breeding of harness horses and the conduct of equine research in the state.
In order to carry out its legislative mission the Fund receives money from the mutual handle at the licensed tracks across the state and uses this money to provide purse money for the New York Sire Stakes in these major areas:
- Sire Stakes Races At The Pari-Mutuel Tracks---The most talented New York-bred 2 and 3 year olds vie for enhanced purses at the state's pari-mutuel tracks. The top performers meet for the "Night of Champions".
- Excelsior/State Fair Series--- It is an additional racing opportunity for 2-year-old and 3-year-old New York-bred trotters and pacers who have staked into the Excelsior/State Fair series. Three-year-olds can also participate in a State Fair race that is held at the Goshen Historic Track.
- County Fair Racing---The best "earn as you learn" program in Sire Stakes racing. Non-pari-mutuel racing at 22 agricultural fairs throughout New York State. Championship races at each age and gait top off a summer of local fairs throughout the state.
- Additional Objectives--In addition to the above, the Fund provides assistance to county agricultural societies to maintain and repair racing facilities. The Fund also contributes to both the 4-H program and the Dr. Harry M. Zweig Fund for Equine Research at Cornell University.
Mission Statement
The mission of the Agriculture and NYS Horse Breeding Development Fund and the New York Sire Stakes is to promote agriculture through the breeding of horses. To that end the Ag Fund directs the state’s premier harness racing program designed to stimulate the breeding, buying and racing of standardbred horses in New York State. The New York Sire Stakes is the nation’ s oldest harness racing program of its kind. We believe that these goals can best be accomplished by supporting educational programs, equine research and supplementation of racing purses at NYS pari-mutuel tracks, County Fairs and the Goshen Historic Track. Our authority accepts that by accomplishing our mission we will improve the economic wellbeing of the Empire State, keep agricultural lands in service producing products of value, preserve open space and increase employment opportunities throughout the whole of New York State.*
Financial Statement
| Estimated | Totals |
|---|---|
| Anticipated Handle Receipts | $12,511,000 |
| Anticipated Breakage | $750,000 |
| Total Handle and Breakage | $13,261,000 |
| Estimated Sustaining Fees | $1,800,000 |
| Estimated Investment Income | $25,000 |
| Total Estimated Receipts | $15,086,000 |
| Item | Total Available | Proposed Expenditures |
|---|---|---|
| Administration | $1,774,540 | $1,239,400 |
| Equine Research |
$325,000 |
$325,000 |
| Amounts to Be Determined (4H, State Fair Repairs & Purses, County Fair Repairs & Purses, Late Closers, EBC) |
$6,574,340 | $4,481,250 |
| Track Purses | $15,377,325 | $12,000,000 |
| Breeders Awards | $1,888,325 | $1,200,000 |
Real property and personal property transactions in 2011 - none
Real property owned by the Fund in 2011 - none over $15,000
Outstanding debt at the end of 2011 - the Fund by law is unable to incur any debt
The Fund's Procurement Officer is the Executive Director
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