Monthly Statements


Each month, every partner receives a statement showing their balance forward from the month prior, minus expenses, plus any revenue. We try to have statements out by the second week of the month. This is dependent upon receiving invoices from all of our trainers, vets, suppliers, etc. Partners are advised of status via daily e-mails.

Explanation of Line Items:

Below is a brief description of some common line items used on a regular basis. Each line item will show th eoveral cost as well as a partners percentage, based on percentage of ownership.

OUR CUSHION ..... We like to have a three month cushion in every partner's account. The "cushion" or reserve, is three months estimated expenses held in a partners account in advance. Any time a partner buys into a horse the "cushion" is paid up front. After three months, we ask for each account to be replenished. This "cushion" allows us to expedite payment of our bills, rather than wait to receive a bill, ask for funds, then pay. We have found some partnerships to ask for an entire year in advance. We discovered three months in advance to be beneficial to both partners and Renpher Stable.

We average $2000 per month, per horse in total expenses. Total monthly expenses consist of several line items. Those line items are described below. At 1% you can expect expenses to cost $20 per month. This is based on $20 being 1% of %2000. Therfore $60 is three months estimate per 1%.

To calculate a "cushion" simply take the number of shares and multiply by $60. Below is an example using 3%:

3% ownership = $60 per month in estimated expenses

$60 x 3 month = $180 required cushion

Therefore, after three months ownership, we take into consideration any purse revenue and adjust the required cushion.

TRAINING ..... The Renpher Stable Training day rate is a blended mix of both the actual trainers day rate charged, plus any applicable Renpher Stable management fees. Training rates vary from trainer to trainer. The day rate includes all salaries, staff, stall, bedding and feed. Feed consists of hay and a basic sweet feed, but does not include any suppliments.

VETERINARY CHARGES ..... Vet bills come to us either directly from one of our vets or appear on our trainers invoice.

BLACKSMITH ..... Along the lines of veterinary bills, some trainers are billed by blacksmiths, other blacksmiths bill owners directly. Either way, we break out the cost as a separate line item.

SUPPLIMENTS AND SUPPLIES ..... Items such as Corta-Flex, Lubrisyn, minerals, vitamins, bran oils, etc are considered suppliments which call for charges above and beyond normal feed. Supplies are often divided among a group of horses unless an item or piece of equipment is purchased specifically for one horse's need.

HORSE EARNINGS ..... Purse revenue appears on this line item. As with all line items partners can see the total purse revenue as well as their take based on percentage of ownership.

JOCKEY FEES ..... Jockeys receive 10% of winning purse money, 5% for second and third. Losing mounts are those where a horse finishes 4th or lower. Under those conditions the losing mount fee varies from track to track and is dependant upon total purse dollars for the race.

PONY TO POST ..... This charge is generated by our request to have a horse escorted onto the track and usually to the starting gate before a race. This alos varies from track to track.

RENPHER STABLE FEE ..... Renpher Stable collects 10% of all purse money earned by one of our horses in any given race.