American International
Polo Foundation (AIPF)
Polo Foundation (AIPF)
About AIPF
About
AIPF
Fund-Raising
By-Laws
of AIPF
Directors & Officers
Minutes
AIPF (American International
Polo Foundation)
AIPF is a 501 C-3 charitable organization created to help fund
teams
going to international competitions. The AIPF needs money, airline
tickets, hotel rooms, and rental cars for team members and supporting
staff going to international competitions.
American International Polo
Foundation
EIN 37-1401344
Attachment A to 1023 Application
Description of General
Activities and Progams
(Response to Part II,
question 1)
The American International
Polo Foundation ("Foundation") was incorporated on
August 10, 2000 as an Illinois not-for-profit corporation. The
purpose of the Foundation is to foster international amateur
competition in the sport of polo. The Foundation will only conduct
activities that are permissible for an organization maintaining
tax-exempt status under section 501(c)(3) and section 5010) of
the Internal Revenue Code.
The Foundation's primary activity
will be to make grants to U.S. athletes to finance their travel
and other expenses associated with participating in international
amateur polo competition. Such competition typically consists
of one or more tournaments held during the year in which teams
from different countries compete against one another in a series
of matches. Such tournaments are held in different parts of the
world including, for example, Australia, South America, North
America and Europe. Grants awarded by the Foundation to athletes
may be used to pay for reasonable expenses associated with (1)
transportation to and from the tournament, (ii) entry fees and
lodging, meals and incidentals while participating in the tournament,
(iii) the transportation, feeding, grooming, lodging and veterinarian
care of horses used by the player in the tournament, and (iv)
the maintenance of riding and other equipment used in the tournament.
The Foundation will only sponsor
athletes for polo tournaments or competition that qualifies as
"amateur competition" in conformity with rules adopted
by the Federation of International Polo ("FIP"). FIP
is the principal international body that sanctions international
competition in the sport of polo. In any competition designated
as an amateur competition, only "amateur" players may
participate. In conformity with these rules, an amateur player
may not receive compensation (for example, prize money or other
monetary awards) for participation in amateur competition. However,
the following items do not constitute compensation for purposes
of this provision: (i) reimbursement for expenses such
as transportation, lodging, meals, medical care and incidentals;
(ii) provision of equipment for use in the competition; (iii)
transportation, feeding, grooming, lodging and veterinarian care
of horses; and (iv) receipt of trophies, medals, ribbons, plagues
and similar traditional prizes and momentos. Under these rules,
a player satisfying the foregoing criteria is not disqualified
from amateur status by reason of his or her receipt of compensation
for participation in any other tournament or event or other participation
in any sport prior or subsequent to the subject amateur competition.
Athletes receiving Foundation
grants will be selected by the Foundation's Board of Directors
or by a committee of persons familiar with the sport of polo
and international polo competition who are appointed by the
Foundation's Board of Directors. The Foundation's Board of
Directors consists of individuals who are well known in the sport.
For example, director Richard Cummings is the current Executive
Director of the United States Polo Association, a not-for-profit
organization that exists to promote the sport of polo. Patrick
Nesbitt and Stephen Orthwein are members of the International
Committee of the United States Polo Association, which sanctions
U.S. participation in international polo events. The Foundation's
By-Laws provide in Section 4.2 that the Foundation's Board of
Directors will be appointed each year by the Chairman of the
United States Polo Association.
Additional information regarding
the Foundation's grant program is included with Schedule H to
this 1023 Application. As discussed in the responses to Schedule
H questions, directors and officers of the Foundation, members
of any grant selection committee, and family members of the foregoing
individuals will not be eligible to receive grants from the Foundation.
The Foundation submits that
it meets the qualifications of an exempt organization under §501(c)(3)
of the Internal Revenue Code by fostering international amateur
sports competition. As noted above, the Foundation will only
assist amateur athletes in amateur competition as defined by
rules adopted by the relevant sanctioning body for international
polo competition. Moreover, although polo is not yet an Olympic
sport, the exemption provided by §501(c)(3) and §5010)
of the Internal Revenue Code is not limited to fostering competition
in Olympic sports only. See, eg., Gen. Court. Mem. 39775 (Jan.
24, 1989) (involving sponsoring American football competition).
CHI 201259CN-1
|
|
|
|
Directors & Officers |
|
American International Polo
Foundation (Response to Part II, question 1) The American International Polo Foundation ("Foundation") was incorporated on August 10, 2000 as an Illinois not-for-profit corporation. The purpose of the Foundation is to foster international amateur competition in the sport of polo. The Foundation will only conduct activities that are permissible for an organization maintaining tax-exempt status under section 501(c)(3) and section 5010) of the Internal Revenue Code. The Foundation's primary activity will be to make grants to U.S. athletes to finance their travel and other expenses associated with participating in international amateur polo competition. Such competition typically consists of one or more tournaments held during the year in which teams from different countries compete against one another in a series of matches. Such tournaments are held in different parts of the world including, for example, Australia, South America, North America and Europe. Grants awarded by the Foundation to athletes may be used to pay for reasonable expenses associated with (1) transportation to and from the tournament, (ii) entry fees and lodging, meals and incidentals while participating in the tournament, (iii) the transportation, feeding, grooming, lodging and veterinarian care of horses used by the player in the tournament, and (iv) the maintenance of riding and other equipment used in the tournament. The Foundation will only sponsor athletes for polo tournaments or competition that qualifies as "amateur competition" in conformity with rules adopted by the Federation of International Polo ("FIP"). FIP is the principal international body that sanctions international competition in the sport of polo. In any competition designated as an amateur competition, only "amateur" players may participate. In conformity with these rules, an amateur player may not receive compensation (for example, prize money or other monetary awards) for participation in amateur competition. However, the following items do not constitute compensation for purposes of this provision: (i) reimbursement for expenses such as transportation, lodging, meals, medical care and incidentals; (ii) provision of equipment for use in the competition; (iii) transportation, feeding, grooming, lodging and veterinarian care of horses; and (iv) receipt of trophies, medals, ribbons, plagues and similar traditional prizes and momentos. Under these rules, a player satisfying the foregoing criteria is not disqualified from amateur status by reason of his or her receipt of compensation for participation in any other tournament or event or other participation in any sport prior or subsequent to the subject amateur competition. Athletes receiving Foundation grants will be selected by the Foundation's Board of Directors or by a committee of persons familiar with the sport of polo and international polo competition who are appointed by the Foundation's Board of Directors. The Foundation's Board of Directors consists of individuals who are well known in the sport. For example, director Richard Cummings is the current Executive Director of the United States Polo Association, a not-for-profit organization that exists to promote the sport of polo. Patrick Nesbitt and Stephen Orthwein are members of the International Committee of the United States Polo Association, which sanctions U.S. participation in international polo events. The Foundation's By-Laws provide in Section 4.2 that the Foundation's Board of Directors will be appointed each year by the Chairman of the United States Polo Association. Additional information regarding the Foundation's grant program is included with Schedule H to this 1023 Application. As discussed in the responses to Schedule H questions, directors and officers of the Foundation, members of any grant selection committee, and family members of the foregoing individuals will not be eligible to receive grants from the Foundation. The Foundation submits that it meets the qualifications of an exempt organization under §501(c)(3) of the Internal Revenue Code by fostering international amateur sports competition. As noted above, the Foundation will only assist amateur athletes in amateur competition as defined by rules adopted by the relevant sanctioning body for international polo competition. Moreover, although polo is not yet an Olympic sport, the exemption provided by §501(c)(3) and §5010) of the Internal Revenue Code is not limited to fostering competition in Olympic sports only. See, eg., Gen. Court. Mem. 39775 (Jan. 24, 1989) (involving sponsoring American football competition).
CHI 201259CN-1 |
|||
Polo Links | Message Board | USPA Membership |Contact Us
Click here for instructions on how to print out pages from this Web site.
Copyright 2000 & 2001 USPA PCC