The Palomino Incentive Program (PIP) is a great program wherein success is demonstrated through a monetary payout. PHBA recognizes that its members spend their valuable time and personal resources to show or have their horses shown. PHBA wanted a way to give back to owners and breeders some of those hard-earned monies and the PIP can do that.
The PIP is available to all Palomino and Palomino Bred horses of any age through a one-time nomination. They become eligible for yearly cash payouts in Open and Amateur divisions. As the PIP pays money to the Horse Owner, Foal Nominator and Stallion Owner, each can benefit from an increased value of their horses.
- Promote PHBA owners, breeders, and nominators
- Horse Owners: 70% of total payout
- Foal Nominators: 10% of total payout
- Stallion Owners: 20% of total payout
- PIP payout based on points earned
- Increase value of foals
- PIP monies encourage showing of foals
- PIP nomination increases sales
- All PIP participants must be current PHBA members in good standing
- PIP payout funds come from Stallion Owner subscriptions and Foal Nominator payments.
- Funds are maintained in a separate PHBA account
- Funds are distributed directly proportionally to PHBA sanctioned points earned by nominated foals
- All nomination fees paid each year will be paid back in the three categories (owners/nominators/stallion owners) in the same year, less 7% retained for the next year’s payment
- Calculation of PIP earnings shall be based on official PHBA show records as of January 31st following the completion of show year in which the points were earned. Subsequent correction of show results for any reason shall not affect prior calculations
- Points earned in Youth programs, Novice Amateur, Amateur Walk/Trot and Amateur Select programs are not included in the tabulations as these divisions are limiting as to the age and/or experience of the rider
PIP Board of Directors:
- The PIP Board shall consist of members from PHBA Executive Board, Computer, Finance, Show Rules, Registrations/Transfers/Breeders Committees and a member-at-large as a stallion owner/exhibitor
- The PHBA EB member will chair this board and appoint the member-at-large.
- Each committee shall vote for their member on the PIP Board
- The PIP Board shall keep the history of the program in its entirety and track the current year nominations and points
Foal Owner Information:
- Ideally, foals are nominated in their weanling year
- PIP payouts become effective in the yearling year of the foal’s nomination
- A horse of any age, at any time of its show career, may be enrolled
- Points earned prior to nomination are not eligible for PIP payouts
- Foal nominations will be verified by a PIP Logo on their registration papers
- Foal nomination fees are non-refundable
- Palomino and Palomino Bred foals sired by stallions that have been subscribed in the year foals were conceived are eligible
- These foals are eligible when their form, appropriate fee and original registration certificate have been received by PHBA office
- Nomination Fees:
- Weanlings, $100.00
- Yearlings, $200.00
- Two-year-old, $300.00
- Three-year-old, $400.00
- Four and older horses, $600.00
Stallion Owner Information:
- Stallion Nomination Fees are paid annually and must be postmarked on or before December 31st prior to breeding season. Fees:
- $200, if paid on or before December 31st prior to breeding season
- Or $300, if paid January 1st through breeding season or after
- Nominated Stallion Owners shall receive the PIP Logo for advertising usage
Hardship Nomination Information:
When a stallion owner of record* waives the right to nominate a stallion for a designated foaling year, the stallion may be nominated by another party (typically the foal owner, so that the foal is eligible for enrollment). Hardship Waiver Form is available on the PHBA website.
- The stallion nominator, the party who pays the nomination fee, will receive the 20% of PIP earnings from all offspring foaled in the nominated year.
- The stallion owner hereby waives any rights to the 20% of PIP earnings for that foaling year.
The owner of an offspring may apply for its sire’s nomination by waiver hardship under the following circumstances:
- The current stallion owner of record* is deceased and/or ownership is in probate or dispute
- The applicant must provide documentation of such owner status
- The current stallion owner of record could not be reached after every reasonable effort has been made to contact him/them.
- The applicant must provide documentation of multiple attempts and the various methods of contacting said owner
- Should the stallion in question be deceased, applicant must provide documentation of such
Hardship Waiver applications will be reviewed by the PIP Board for approval on a case by case basis. Upon acceptance of the Hardship Waiver application, all applicable fees must be paid in full before the PIP nomination process is complete.
*Stallion owner of record is based on PHBA registration. If the stallion is not a registered Palomino, the current owner of record shall be based on any other PHBA recognized equine registry.
Mare Owner Information:
- PHBA and PB foals from mares bred to PIP stallions have a marketable edge over many non-participants. A PIP-nominated foal earnings make for a more attractive purchase to “show home” buyers who would like to receive PIP payouts
- Mare owners that nominate these foals will be eligible for PIP payouts as such
- Mare owners remain eligible for these PIP payouts even after the foal(s) are sold
- Nomination fees must be received in U.S. funds
- Payment is due at time of nomination with accompanying form
- Payment to PIP must be a separate check from any other payments
- All nominations (foal and stallion) must be postmarked by deadlines stated. No postal meter stampings will be accepted.
- Any financial audit or review by a certified public accountant of the PIP account and transactions shall be conducted in compliance with current PHBA Bylaws and Constitution
- An annual review of the statistics and program performance shall be done by the PIP Board of Directors. The recommendations of the PIP Board will be forwarded to the PHBA Executive Board for review and/or action
- PHBA reserves the right to amend, in whole or in part, the conditions of the PIP as it, in its sole discretion, determines to ensure fairness and equality to all participants. Further, at its sole discretion, PHBA may cancel the program at any time and refund monies if it deems participation is insufficient to justify the program
- All earnings and/or nominations are subject to U.S. Internal Revenue Service and/or Oklahoma Tax Commission rules and regulations pertaining to withholding of tax and the appropriate reporting
- PIP monies payable to a person/entity suspended from PHBA membership or show privileges will be withheld for the term of the suspension, or funds may be used to pay a participant’s delinquent account with PHBA. If suspension continues longer than two (2) years from the date the funds are awarded, such funds shall be forfeited and returned to the PIP account.
- An entrant is ineligible to participate in the PIP where prohibited by law because of legal residence, sites approved event, or any other basis, and the total prohibited portion of the earned points or purse money shall be disregarded in calculation of an earned portion of the PIP payouts
All disputes arising out of the application or interpretation of any rules or conditions of the PIP shall be decided by PHBA.