2024-05-14T14:27:48-05:00 2023-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 101 SOUTH 5TH STREET STE 2100 LOUISVILLE KY 40202 990 2022-07-01 610244750 KENTUCKY BANKERS ASSOCIATION KENT 5025822453 600 W MAIN STREET 400 LOUISVILLE KY 40202 MATTHEW VANCE CFO 5025822453 2024-05-14 1 MATTHEW VANCE 999009999 0 ELEANOR A LIVINGSTON CPA MST P00226461 8885871719 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z BALLARD W CASSADY JR 600 W MAIN STREET SUITE 400 LOUISVILLE KY 40202 5909009 0 X WWW.KYBANKS.COM X 1891 KY KENTUCKY BANKERS ASSOCIATION, A NON-PROFIT ORGANIZATION, PROVIDES INFORMATION ON BANKING TRENDS AND DEVELOPMENTS TO MEMBER BANKS. 19 18 26 18 1819707 0 0 0 2488126 2556497 -21680 276735 2068062 2270072 4534508 5103304 16650 16073 0 0 3373778 3422533 0 0 0 1319982 1615282 4710410 5053888 -175902 49416 6828754 7368761 1194647 1440893 5634107 5927868 X TO PROVIDE EFFECTIVE ADVOCACY FOR THE FINANCIAL SERVICES INDUSTRY BOTH IN KENTUCKY AND ON A NATIONAL LEVEL; TO SERVE AS A RELIABLE AND RESPONSIVE SOURCE OF INFORMATION AND EDUCATION ABOUT AREAS OF INTEREST TO THE INDUSTRY; AND TO PROVIDE A CATALYST AND FORUM FOR COLLECTIVE INDUSTRY ACTION. 0 0 THE ASSOCIATION MARKETS AND FACILITATES EDUCATIONAL PRODUCTS AND SERVICES TO ITS MEMBERSHIP. DURING THE PAST YEAR THE ASSOCIATON PROVIDED EDUCATIONAL SERVICES TO OVER 3,000 INDIVIDUALS FROM MORE THAN 150 CORPORATE MEMBERS THROUGH LIVE AND DISTANCE-LEARNING SEMINARS.THE ASSOCIATION ENGAGES IN LOBBYING ACTIVITIES ON BEHALF OF THE KENTUCKY BANKING INDUSTRY AT BOTH THE STATE AND FEDERAL LEVEL. THE ASSOCIATION'S CURRENT MEMBERSHIP CONSISTS OF 150 FINANCIAL INSTITUTIONS, 135 ASSOCIATE MEMBERS AND 105 BANK COUNSEL MEMBERS. 0 0 0 1 0 0 0 0 0 1 1 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 14 0 1 26 1 1 1 0 0 0 0 0 1 0 X 19 18 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X MATTHEW VANCE 5025822453 600 W MAIN STREET STE 400 LOUISVILLE KY 40202 BALLARD W CASSADY JR PRESIDENT AND CEO 40.00 X X 923294 0 275614 DEBRA K STAMPER EXECUTIVE VICE PRESIDENT 40.00 X 388943 0 55500 MATTHEW E VANCE CHIEF FINANCIAL OFFICER 40.00 X 321629 0 72820 TIM SCHENCK ASSISTANT GENERAL COUNSEL 40.00 X 158620 0 51965 JOHN COOPER GOVERNMENT AFFAIRS CONSULT 40.00 X 148144 0 32169 SELINA PARRISH DIRECTOR OF MEMBERSHIP 40.00 X 125869 0 30257 ALEX COOK DIRECTOR 1.00 X 0 0 0 ALEX DOWNING DIRECTOR 1.00 X 0 0 0 ANTHONY KINDER DIRECTOR 1.00 X 0 0 0 CHARLES BEACH III DIRECTOR 1.00 X 0 0 0 DON JENNINGS DIRECTOR 1.00 X 0 0 0 GREG PAWLEY DIRECTOR 1.00 X 0 0 0 JAIME COFFEY DIRECTOR 1.00 X 0 0 0 JAMES AYERS DIRECTOR 1.00 X 0 0 0 JASON JONES DIRECTOR 1.00 X 0 0 0 JEFF MCDANIELS DIRECTOR 1.00 X 0 0 0 LANIE W GARDNER DIRECTOR 1.00 X 0 0 0 MIACHAEL HUNT DIRECTOR 1.00 X 0 0 0 MICHAEL BECKWITH DIRECTOR 1.00 X 0 0 0 WILLIAM F BRASHEAR II DIRECTOR 1.00 X 0 0 0 WADE BERRY DIRECTOR (PARTIAL YEAR) 1.00 X X 0 0 0 ELMER WHITAKER DIRECTOR (PARTIAL YEAR) 1.00 X 0 0 0 GREGORY GOFF DIRECTOR (PARTIAL YEAR) 1.00 X 0 0 0 MICHELLE COLEMAN DIRECTOR (PARTIAL YEAR) 1.00 X 0 0 0 RANDALL BLACKBURN DIRECTOR (PARTIAL YEAR) 1.00 X 0 0 0 RUTH O'BRYAN BALE CHAIRWOMAN 1.00 X X 0 0 0 JAMES HILLEBRAND PAST CHAIRMAN 1.00 X X 0 0 0 MARK STROTHER VICE CHAIRMAN 1.00 X 0 0 0 APRIL PERRY TREASURER 1.00 X 0 0 0 2066499 0 518325 6 0 1 0 0 SEMINARS AND CONFERENCES 611430 1321485 1321485 MEMBERSHIP DUES 813920 1235012 1235012 2556497 82440 82440 423628 423628 1000000 805705 194295 194295 194295 MANAGEMENT FEE 541610 1776987 1776987 ADVERTISING INCOME 541800 42720 42720 MISCELLAENOUS 900099 26737 26737 1846444 5103304 2583234 1819707 700363 16073 1803125 1028363 241252 192753 157040 64975 62007 69081 5000 139180 132626 183686 808852 104380 GIFTS/GRATUITIES 23563 MISCELLANEOUS 17488 FEES/HONOARARIUMS 4444 5053888 63 534 310598 240230 81109 152353 163063 258744 2642842 1488356 1089196 1154486 2851921 2150529 389994 634341 1942810 2777544 6828754 7368761 863622 865148 331025 575745 1194647 1440893 X 5634107 5927868 5634107 5927868 6828754 7368761 X 49416 244345 X X 0 1 X 1 0 0 0 0 1047112 264566 264566 314134 -49568 2642842 1488356 1154486 1154486 INVESTMENTS IN KBI AND KBSI 634341 C 634341 DUE FROM AFFILIATES 2144257 CUSTODIAL FUNDS (457 PLAN) 633287 2777544 X PART X, LINE 2: MOST ASSOCIATION ACTIVITIES ARE EXEMPT FROM INCOME TAXATION UNDER SECTION 501(C)(6) OF THE U. S. INTERNAL REVENUE CODE. INCOME TAX EXPENSE RECORDED IN THE CONSOLIDATED FINANCIAL STATEMENTS REPRESENTS TAXES ASSOCIATED WITH THE FOR-PROFIT SUBSIDIARIES - KBI, KSI AND THEIR SUBSIDIARIES. THE TAXABLE ENTITIES FILE SEPARATE CORPORATE TAX RETURNS. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION. WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. THE ASSOCIATION'S TAXABLE SUBSIDIARIES ARE SUBJECT TO U.S. FEDERAL INCOME TAX AS WELL AS VARIOUS OTHER STATE AND LOCAL INCOME TAXES. THE ASSOCIATION IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR YEARS BEFORE JUNE 30, 2020. THE ASSOCIATION DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. THE ASSOCIATION RECOGNIZES INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE ASSOCIATION DID NOT HAVE ANY AMOUNTS ACCRUED FOR INTEREST OR PENALTIES AT JUNE 30, 2023 OR 2022. X 1 1 X X X X 0 1 0 BALLARD W CASSADY JR PRESIDENT AND CEO 493798 0 401500 0 27996 0 256250 0 19364 0 1198908 0 0 0 DEBRA K STAMPER EXECUTIVE VICE PRESIDENT 298031 0 76500 0 14412 0 45750 0 9750 0 444443 0 0 0 MATTHEW E VANCE CHIEF FINANCIAL OFFICER 237623 0 76500 0 7506 0 45750 0 27070 0 394449 0 0 0 TIM SCHENCK ASSISTANT GENERAL COUNSEL 146618 0 11500 0 502 0 25189 0 26776 0 210585 0 0 0 JOHN COOPER GOVERNMENT AFFAIRS CONSULT 140754 0 1500 0 5890 0 22793 0 9376 0 180313 0 0 0 SELINA PARRISH DIRECTOR OF MEMBERSHIP 110022 0 11500 0 4347 0 19108 0 11149 0 156126 0 0 0 PART I, LINE 1A PURSUANT TO THE CEO'S WRITTEN EMPLOYMENT CONTRACT, KBA PAYS FOR SPOUSAL TRAVEL AND EXPENSES WHILE ATTENDING KBA RELATED FUNCTIONS. THE VALUE OF AMOUNTS PAID IS TREATED AS A TAXABLE FRINGE BENEFIT. PART I, LINE 4B PURSUANT TO WRITTEN EMPLOYMENT AGREEMENT, KBA ENTERED INTO A DEFERRED COMPENSATION AGREEMENT WITH THE CEO. UNDER THE AGREEMENT, KBA SERVICES, INC. (A RELATED ENTITY), MAKES PAYMENTS DIRECTLY TO A TRUSTEE. KBA SERVICES, INC. MADE $190,000 OF CONTRIBUTIONS ON BEHALF OF THE CEO DURING THE CALENDAR YEAR 2023. FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS, BY RESOLUTION ADOPTED BY A MAJORITY OF THE DIRECTORS IN OFFICE, MAY, AT THE PRE-CONVENTION MEETING OF THE BOARD OF DIRECTORS, DESIGNATE AND APPOINT AN EXECUTIVE COMMITTEE WHICH SHALL CONSIST OF TWO OR MORE DIRECTORS, WHICH COMMITTEE, TO THE EXTENT PROVIDED IN SUCH RESOLUTION, SHALL HAVE AND EXERCISE ALL THE AUTHORITY OF THE BOARD OF DIRECTORS, EXCEPT THAT SUCH COMMITTEE SHALL NOT HAVE THE AUTHORITY OF THE BOARD OF DIRECTORS IN REFERENCE TO AMENDING, ALTERING OR REPEALING THE BYLAWS; ELECTING, APPOINTING, OR REMOVING ANY MEMBER OF ANY SUCH COMMITTEE OR ANY DIRECTOR OR OFFICER OF THE ASSOCIATION; AMENDING THE ARTICLES OF INCORPORATION, RESTATING ARTICLES OF INCORPORATION, ADOPTING A PLAN OF MERGER OR ADOPTING A PLAN OF CONSOLIDATION WITH ANOTHER CORPORATION; AUTHORIZING THE SALE, LEASE, EXCHANGE OR MORTGAGE OF ALL OR SUBSTANTIALLY ALL OF THE PROPERTY AND ASSETS OF THE ASSOCIATION; AUTHORIZING THE VOLUNTARY DISSOLUTION OF THE ASSOCIATION OR REVOKING PROCEEDINGS THEREFOR; ADOPTING A PLAN FOR THE DISTRIBUTION OF THE ASSETS OF THE ASSOCIATION; OR AMENDING, ALTERING OR REPEALING ANY RESOLUTION OF THE BOARD OF DIRECTORS WHICH BY ITS TERMS PROVIDES THAT IT SHALL NOT BE AMENDED, ALTERED OR REPEALED BY SUCH COMMITTEE. THE DESIGNATION AND APPOINTMENT OF SUCH COMMITTEE AND THE DELEGATION THERETO OF AUTHORITY SHALL NOT OPERATE TO RELIEVE THE BOARD OF DIRECTORS, OR ANY INDIVIDUAL DIRECTOR, OF ANY RESPONSIBILITY IMPOSED UPON IT OR HIM BY LAW. FORM 990, PART VI, SECTION A, LINE 6 KENTUCKY BANKERS ASSOCIATION IS ORGANIZED AS A TRADE ASSOCIATION WITH MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED FROM THE MEMBERSHIP, INCLUDING ALL MEMBERSHIP AT THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 7B ANY CHANGES IN THE CHARTER OF THE ASSOCIATION MUST BE RATIFIED BY THE MEMBERSHIP AT THE ASSOCIATION'S ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FORM 990 IS REVIEWED IN DETAIL BY MANAGEMENT. A COPY OF THE ORGANIZATION'S FINAL FORM 990 (INCLUDING SUPPLEMENTAL SCHEDULES), AS ULTIMATELY FILED WITH THE IRS, WAS THEN PROVIDED TO EACH VOTING MEMBER OF THE KBA'S EXECUTIVE COMMITTEE PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE KBA'S CONFLICT OF INTEREST POLICY COVERS THE OFFICERS AND DIRECTORS OF THE ASSOCIATION. OFFICERS AND DIRECTORS ARE SURVEYED ANNUALLY TO DISCLOSE ANY CONFLICT OF INTEREST THEY MAY HAVE WITH THE ASSOCIATION. ANY AND ALL CONFLICTS ARE MONITORED BY THE CHAIRMAN. IF A CONFLICT IS IDENTIFIED IN A TRANSACTON IN WHICH AN INDIVIDUAL COVERED BY THE POLICY MAY BENEFIT, THE PERSON IS ASKED TO REFRAIN FROM DELIBERATIONS AND DECISIONS REGARDING THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15A THE ASSOCIATION'S EXECUTIVE COMPENSATION COMMITTEE REVIEWS THE CEO'S COMPENSATION AS COMPARED TO OTHER STATE BANKING ASSOCIATION CEO'S, AS WELL AS EVALUATES PERFORMANCE FROM AN INDUSTRY AND ASSOCIATION PERSPECTIVE. ALL DOCUMENTATION OBTAINED THROUGH THE REVIEW PROCESS IS DOCUMENTED IN THE CEO'S PERSONNEL FILE. COMPENSATION REVIEWS TOOK PLACE IN MAY 2023. THE PRESIDENT AND CEO REVIEW AND SET THE COMPENSATION OF THE OFFICERS USING COMPARABILITY DATA OBTAINED FROM THE ABA'S STATE ASSOCIATION SALARY SURVEY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICIES ARE NOT REQUIRED DISCLOSURES PURSUANT TO IRC SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME. FORM 990, PART XI, LINE 9: EQUITY IN UNDISTRIBUTED EARNINGS 244,345. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM PRIOR YEARS. KBA EDUCATION ALLIANCE INC 600 W MAIN STREET SUITE 400 LOUISVILLE KY 40202 611280280 EDUCATIONAL TRAINING CLASSES/SEMINARS KY 501(C)(3) LINE 2 N/A 0 KENTUCKY BANKERS RELIEF FUND COMPANY 600 W MAIN STREET SUITE 400 LOUISVILLE KY 40202 203405062 DISASTER RELIEF KY 501(C)(3) LINE 7 N/A 0 KENBANC INSURANCE INC 600 W MAIN ST STE 400 LOUISVILLE KY 40202 611112125 INSURANCE AGENCY KY N/A C 1453972 1.00000 1 KBA SERVICES INC 600 W MAIN ST STE 400 LOUISVILLE KY 40202 611162422 PRODUCTS AND SERVICES KY N/A C 607719 4953244 1.00000 1 KENBANC INSURANCE SERVICES INC 600 W MAIN ST STE 400 LOUISVILLE KY 40202 311537322 INSURANCE AGENCY KY N/A C -33443 196070 0.75000 0 KENBANC REINSURANCE COMPANY LTD 600 W MAIN ST STE 400 LOUISVILLE KY 40202 522148116 INSURANCE AGENCY KY N/A C -114308 1223695 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 1 KENBANC INSURANCE INC Q 489294 COST KBA SERVICES INC Q 855019 COST KENBANC INSURANCE SERVICES INC Q 402674 COST KENBANC REINSURANCE COMPANY LTD Q 30000 COST