In contemplation of the Merger of the Arabian Horse Registry of America (AHRA) and the International Arabian Horse Association (IAHA) into the Arabian Horse Association (AHA), the Purebred Arabian Trust (PAT) was formed on September 17, 2002, as a nonprofit corporation under the Colorado Act, Section 501 (c) (5) with the intent that the registration of purebred Arabian horses and related functions, as well as the historical pedigree database, are protected and preserved for future generations. To that end, the Purebred Arabian Trust retained ownership of the software and database and licensed the purebred registration services to the newly formed Arabian Horse Association.
The initial funding was provided by certain assets of the Arabian Horse Registry of America, including a building, land, the Arabian Jockey Club and the registration software and database which were transferred to the PAT at the time of the merger.
In addition, revenue is derived from the License & Security Agreement between the Purebred Arabian Trust (PAT) and the Arabian Horse Association (AHA) which states that one-third of the gross revenues derived from purebred registrations, including registration fees, transfer fees, service fees and administration fees be paid to the PAT. These revenues are paid by AHA to the PAT on a quarterly basis following the fiscal quarter in which they were earned.
These assets and revenues are used to fulfill the Purebred Arabian Trust’s mission and purpose.
FUNDED BY PAT
The Purebred Arabian Trust is dedicated to fostering the preservation and use of the purebred Arabian horse. In order to support promotional, educational and preservation projects, the Purebred Arabian Trust may allocate funds for specific projects that are submitted to the Trust from time to time. In addition, as part of the Merger Agreement, the Market Development and Promotion Committee was formed at the Arabian Horse Association, and the Purebred Arabian Trust is one of a number of sources they may apply to for funding.
PAT GOVERNANCE GROUP
The Purebred Arabian Trust is governed by six Trustees who serve on a volunteer basis. The Trustees have full power and authority to manage the Trust.
Pursuant to the Agreement and Plan of Merger (the Merger Agreement), the Trustees shall appoint persons to fill the following positions at the Arabian Horse Association:
Four At-Large Directors
Two At-Large Vice Presidents
One member of the Finance and Budget Committee
Three members of the Market Development and Promotion Committee
Three members of the Registration Commission
Six members of the Racing Commission
As Sole Directing Member of the Arabian Jockey Club, the Trustees shall elect the managing Board Of Directors of The Arabian Jockey Club.
Below is a list of the current PAT Governance Group:
Robert J. Fauls, Chairman
Howard W. Pike, Vice Chairman
Susan Meyer, Secretary
Hampton Johnston, Treasurer
Bart Brown, Trustee
Bruce Johnson, Trustee
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