A nonprofit corporation is any legal entity which has been incorporated under the law of its jurisdiction for purposes other than making profits for its owners or shareholders. Depending on the laws of the jurisdiction, a nonprofit corporation may seek official recognition as such, and may be taxed differently from for-profit corporations , and treated differently in other ways.
22-746: The New York Racing Association, Inc. ( NYRA ) is the not-for-profit corporation that operates the three largest thoroughbred horse racing tracks in the state of New York , United States: Aqueduct Racetrack in South Ozone Park, Queens ; Belmont Park in Elmont ; and Saratoga Race Course in Saratoga Springs . Racing at NYRA tracks is year-round, operating at Belmont Park from May to mid-July and from September through October; at Saratoga Race Course from mid-July through Labor Day; and at Aqueduct from November through April. The New York Racing Association
44-407: A charitable organization . A mutual-benefit corporation can be non-profit or not-for-profit, but it still must pay regular corporate tax rates. A mutual benefit corporation will pay the same taxes as a regular for-profit corporation, with C corporation tax rates. Mutual benefit corporations must still file tax returns and pay income tax because they are not formed for a purpose from which anyone in
66-412: A 2003 federal indictment. The charges related alleged income tax evasion and money laundering by mutuel clerks between 1980 and 1999 with the knowledge of NYRA middle managers. Under the agreement, NYRA paid $ 3 million to the government and its implementation of new cash-handling procedures designed to eliminate corruption and mismanagement was monitored by a New York law firm. After receiving a report from
88-488: A new grandstand. Off-track betting in New York was established in 1970, being offered by regional, government-owned corporations. OTB parlors began showing live video feeds of races, referred to as simulcasting , in 1984. In 1995, NYRA launched a cable television channel and a telephone advance-deposit wagering service. From December 2003 through September 2005, NYRA operated under a deferred prosecution agreement following
110-511: A non-profit association to a not-for-profit corporation also gave the state attorney general enhanced oversight authority. In addition, the state now appoints 11 of the corporation's 25 directors. By changing from non-profit to not-for-profit status, NYRA also gained flexibility in its financial management. NYRA maintains its own law enforcement force comprising over 300 sworn employees, including plain clothed investigators and inspectors as well as fire marshals. These officers must be licensed with
132-426: A successor corporation, New York Racing Association Inc. New York City's OTB Corporation shut down permanently in 2010. In 2016, NYRA launched an online advance-deposit wagering platform under the brand NYRA Bets, which offers live bets and live simulcasts, and is available on multiple states. NYRA was reorganized and its franchise to operate the three racetracks was extended through 2033 under legislation approved by
154-445: Is a type of nonprofit corporation chartered by a state government , and organized primarily or exclusively for social , educational , recreational or charitable purposes by like-minded citizens. Public-benefit nonprofit corporations are distinct in the law from mutual-benefit nonprofit corporations in that they are organized for the general public benefit , rather than for the interest of its members. They are also distinct in
176-496: Is interviewed by the Corporate HR Department, they do a panel interview with a Lieutenant or higher ranking sworn employee. During this panel interview, a written examination is administered based on summarized information sheets provided in the moment at the time of interview. If the applicant interviews successfully, passes the written exam and accepts the extended job offer then they are sworn as Peace Officers and sent to
198-694: Is the successor to the Greater New York Association, a non-profit racing association created in 1955. NYRA is separate from the governing body that oversees racing in New York, currently the New York State Gaming Commission . In 1913, racing returned to New York after a hiatus due to the Hart–Agnew Law . Only four tracks had survived the hiatus. These were Aqueduct Racetrack , Belmont Park , Jamaica Racetrack and Saratoga Race Course . The tracks came under common ownership with
220-830: The New York State Gaming Commission office. All three NYRA properties have NY State Gaming Commission officers on property. There they take fingerprints and conduct licensing as commissioned peace officers. All NYRA Peace Officers and Sergeants are paid hourly rates. Investigators, Lieutenants and higher-ranking members are paid annual salaries. NYRA also seasonally employs New York State licensed security officers at Saratoga Racecourse during its racing meets, as well as subcontracts private security guard companies to assist with large details downstate such as Belmont Stakes. NYRA's Security Officers wear light blue or white shirts with security patches on both arms. Contractors wear their security company's patches and logos while working. NYRA Security Officers and contractors derive their powers from
242-636: The New York State Gaming Commission as well as meet requirements set forth by the Division of Criminal Justice Services. The force consists of uniformed officers & supervisors, fire marshals, plain clothed investigators and inspectors, all of whom are New York State Peace Officer. Special police officers from the New York Racing Association must be authorized and have the appropriate firearm license pursuant to section 400.00 of
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#1732844417879264-567: The New York State Law's citizen's arrest procedures as well as report to assist and make arrests on the orders of a sworn NYRA peace officer. Security Officers are registered with the NY Department of State and as such have no power above that of a normal citizen's rights. ^ †: Uniformed rank that has no authority to carry any weapons or firearms Not-for-profit corporation A public-benefit nonprofit corporation
286-426: The New York state legislature on February 13, 2008. The new authorization provided $ 105 million in direct state aid and forgave millions more in state loans to NYRA. The association also gave up its claim to ownership of the land on which the three racetracks are situated. In return, the state gained expanded oversight responsibility. The state comptroller won the power to audit NYRA's books. The conversion of NYRA from
308-692: The Patrol or Backstretch divisions. Patrol division officers are the everyday face of the department to the general public, conducting patrols and enforcing the law during meets and events at all three of NYRA's facilities. Backstretch officers conduct patrols and enforce the law in the backstretch areas of all three locations such as the on-property residences NYRA staff and some riders live and work in. Each division's officers are covered by its own union representation derived from two completely separate union organizations. NYRA hires Peace Officers for both divisions through their online application system. Once an applicant
330-470: The creation of a non-profit association known as the Greater New York Association in 1955. The association remodeled Aqueduct Racetrack , Belmont Park , and Saratoga Race Course and demolished Jamaica, which is now the Rochdale Village housing development. The partnership became the New York Racing Association on April 10, 1958. Later, Belmont Park was closed from 1963 to 1968 in order to construct
352-630: The inspections or regulations governing non-religious groups performing the same services. Religious corporations are permitted to designate a person to act in the capacity of corporation sole . A mutual-benefit nonprofit corporation or membership corporation, in the United States, is a type of nonprofit corporation chartered by a state government that exists to serve its members in ways other than obtaining and distributing profits to them. Therefore, it cannot obtain IRS 501(c)(3) non-profit status as
374-541: The law from religious corporations. A religious corporation is a nonprofit corporation organized to promote religious purposes. Often these types of corporations are recognized under the law on a subnational level, for instance by a state or province government. The government agency responsible for regulating such corporations is usually the official holder of records, for instance a state Secretary of State . Religious corporations are formed like all other nonprofit corporations by filing articles of incorporation with
396-575: The monitor which concluded that NYRA was in compliance with the new guidelines, the Justice Department moved to dismiss the indictment and its motion was allowed by a federal judge. NYRA, claiming that the state lottery division's failure to approve the installation of video-lottery terminal (VLT) machines at Aqueduct Racetrack pushed it to insolvency, filed for Chapter 11 bankruptcy protection on November 2, 2006. The association emerged from bankruptcy protection September 12, 2008 with incorporation of
418-685: The penal law in order to carry a firearm. NYRA peace officers have the authority to make arrest and issue summonses on NYRA property only, they carry defensive weapons such as a baton, pepper spray, and handcuffs. Uniformed members wear navy blue style uniforms with gold on white NYRA patches on their left side and an American flag patch on the right side. NYRA Peace Officers wear eagle-top shields, typically gold in color regardless of rank. NYRA Inspectors wear gold shields, similar in design to that other law enforcement Detectives, but do not wear uniforms or logos thereof. NYRA Peace Officers go through an in-house training academy. Officers can get assigned to either
440-480: The state. Religious corporation articles need to have the standard tax exempt language the IRS requires. Religious corporations are subject to less rigorous state and federal filing and reporting requirements than many other tax-exempt organizations, such as mutual benefit nonprofit corporations , or public benefit nonprofit corporations . Depending on the state in which they are located, they may also be exempt from some of
462-614: The world could benefit. Mutual benefit corporations are formed for nonprofit purposes like managing a condo association, a downtown business district, or a homeowners' association. A utility cooperative is an example of an MBNC. New York State Gaming Commission The New York State Gaming Commission is the official governing body that oversees casino gaming, charitable gaming, horse racing , lottery , and video lottery terminals in New York State . Based in Schenectady , it
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#1732844417879484-685: Was formed on February 1, 2013, upon the merger of the New York State Racing and Wagering Board, and the New York Lottery . It is part of the New York State Executive Department . As of June 2023, the members of the commission are: The Executive Director of the Commission is Robert Williams, who was formerly in charge of the state lottery division. In January 2022 a new state law in New York went into effect banning
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