2024-08-14T09:10:12-05:00 2023-09-30 271235638 CHERRY BEKAERT ADVISORY LLC 462 S FOURTH ST SUITE 2600 LOUISVILLE KY 402023445 990 2022-10-01 311629357 KENTUCKY DERBY FESTIVAL FOUNDATION KENT 5025893378 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 MATT GIBSON PRESIDENT 5025893378 2024-08-14 1 1 AMY DOSIK P00890743 5027491900 2022 2024-08-08 14:25:15Z MATT GIBSON 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 383491 0 X WWW.KDF.ORG X 1998 KY TO PROMOTE AND FURTHER DEVELOP THE INTEREST OF THE GENERAL PUBLIC IN THE GREATER LOUISVILLE AREA AND THE KENTUCKY DERBY FESTIVAL AND CULTURAL HERITAGE. 22 22 0 150 0 0 204417 200681 0 0 499 1162 -28383 16944 176533 218787 18100 40250 0 0 0 0 0 0 18679 76585 74503 94685 114753 81848 104034 178038 132599 164716 3350 13322 129249 X FOUNDED IN 1998, THE KENTUCKY DERBY FESTIVAL FOUNDATION RECEIVES AND MANAGES CHARITABLE CONTRIBUTIONS ON BEHALF OF THE KENTUCKY DERBY FESTIVAL, INC., ITS SUPPORTERS AND THE GENERAL PUBLIC. THE FOUNDATION PERPETUATES THE FESTIVAL'S IMPACT ON THE COMMUNITY BY DEVELOPING PROJECTS THAT HIGHLIGHT THE FESTIVAL'S INFLUENCE ON THE AREA'S CULTURAL HERITAGE. ITS MISSION IS TO FURTHER THE FESTIVAL'S EDUCATIONAL AND CHARITABLE MISSION THROUGH EXHIBITIONS AND PERFORMANCES. THE FOUNDATION ADDS TO THE FESTIVAL'S MISSION OF PROVIDING CREATIVE ENTERTAINMENT THAT ENHANCES THE COMMUNITY. 0 0 55761 40250 PROMOTING AND FURTHER DEVELOPING THE INTEREST OF THE GENERAL PUBLIC IN THE GREATER LOUISVILLE AREA AND THE KENTUCKY DERBY FESTIVAL AND ITS CULTURAL HERITAGE. 55761 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 KY X TIM WHITTEN 5025846383 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 DAVID NETT CHAIR 0.50 X X 0 0 0 SUZANNE WRIGHT IMMEDIATE PAST CHAIR 0.50 X X 0 0 0 GLENDA THOME CHAIR ELECT 0.50 X X 0 0 0 MICHELE OBERST SECRETARY 0.50 X X 0 0 0 CRAIG WHITE TREASURER 0.50 X X 0 0 0 BECKY COWAN BOARD MEMBER 0.50 X 0 0 0 DOUGLAS CRADDOCK BOARD MEMBER 0.50 X 0 0 0 BECKY CRUMP BOARD MEMBER 0.50 X 0 0 0 JO GRAVES BOARD MEMBER 0.50 3.00 X 0 0 0 CHERYL GUESS BOARD MEMBER 0.50 X 0 0 0 ROBERT HATFIELD BOARD MEMBER 0.50 X 0 0 0 JUDY HESS BOARD MEMBER 0.50 X 0 0 0 VINCENT JAMES BOARD MEMBER 0.50 X 0 0 0 CAROLLE JONES CLAY BOARD MEMBER 0.50 3.00 X 0 0 0 MELAINE KANE BOARD MEMBER 0.50 X 0 0 0 TIM MCGURK BOARD MEMBER 0.50 X 0 0 0 CHADWICK MCTIGHE BOARD MEMBER 0.50 X 0 0 0 TRISH OSBORN BOARD MEMBER 0.50 X 0 0 0 ERIN RASINEN BOARD MEMBER 0.50 3.00 X 0 0 0 DEBRA RAYMAN BOARD MEMBER 0.50 X 0 0 0 KEN SELVAGGI BOARD MEMBER 0.50 X 0 0 0 MIKE SHEA BOARD MEMBER 0.50 3.00 X 0 0 0 MATT GIBSON PRESIDENT & CEO 5.00 35.00 X 0 210878 9912 TIMOTHY WHITTEN CHIEF FINANCIAL OFFICER 5.00 35.00 X 0 90909 9912 0 301787 19824 0 0 1 0 0 17750 154800 28131 200681 1162 1162 181648 154800 164704 16944 16944 218787 0 0 18106 40250 40250 10975 10975 699 500 199 7500 7500 329 329 PAYROLL REIMBURSEMENT 55000 7511 28810 18679 114753 55761 40313 18679 102464 37865 15200 15969 6105 14987 14987 0 0 60374 72660 178038 132599 3350 164716 0 164716 3350 X 13322 129249 13322 129249 178038 132599 104034 11893 0 X X 0 1 X 1 0 X 93321 65187 224095 179417 200681 762701 165488 14774 16944 197206 258809 79961 224095 179417 217625 959907 11600 5200 5000 21800 0 11600 5200 5000 21800 938107 809 716 715 499 1162 3901 809 716 715 499 1162 3901 259618 80677 224810 179916 218787 963808 0.97330 0.96150 0.00400 0.00290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14987 14987 0 0 X 395384 11893 164704 176597 218787 0 218787 279457 164704 164704 114753 0 114753 PART X, LINE 2: THE FOUNDATION EVALUATES UNCERTAIN INCOME TAX POSITIONS USING A "MORE-LIKELY-THAN-NOT" APPROACH AND RECOGNIZES INTEREST RELATED TO UNCERTAINTIES IN INCOME TAXES, IF ANY, IN INTEREST EXPENSE IN THE STATEMENT OF ACTIVITIES. NO LIABILITIES FOR UNCERTAIN TAX POSITIONS HAS BEEN REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES FROM SPECIAL EVENTS 164,704. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES FROM SPECIAL EVENTS 164,704. JUSTICEFEST 97500 97500 12011 11190 28915 FILLIES BALL 217948 36300 181648 55806 2776 40128 1 21000 21000 2849 981 10048 336448 154800 181648 2849 12011 67977 2776 79091 164704 16944 0 0 0 0 0 0 0 0 0 MATT GIBSON PRESIDENT & CEO 0 185878 0 25000 0 0 0 0 0 9912 0 220790 0 0 PART I, LINE 3 THE CEO/EXECUTIVE DIRECTOR'S COMPENSATION IS PAID BY A RELATED ORGANIZATION. THE RELATED ORGANIZATION USES THE FOLLOWING RESOURCES TO ESTABLISH THE COMPENSATION OF THE RELATED ORGANIZATION'S CEO/EXECUTIVE DIRECTOR: 1. COMPENSATION COMMITTEE 2. WRITTEN EMPLOYMENT CONTRACT 3. COMPENSATION SURVEY OR STUDY 4. APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE RETURN IS REVIEWED FIRST BY INTERNAL MANAGEMENT. AFTER INTERNAL MANAGEMENT HAS REVIEWED THE RETURN AND ANY CHANGES ARE MADE A DRAFT IS PROVIDED TO THE FINANCE COMMITTEE AND BOARD OF DIRECTORS FOR REVIEW. ONCE THE COMMENTS FROM THE BOARD ARE REVIEWED THE FINAL DRAFT OF THE RETURN IS PREPARED AND SIGNED BY THE SIGNING OFFICER. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF THE BOARD OF DIRECTORS SHALL ANNUALLY SIGN A STATEMENT WHICH STATES THEY HAVE RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAVE READ AND UNDERSTAND THE POLICY, AGREED TO COMPLY WITH THE POLICY, AND UNDERSTAND THE ORGANIZATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. PERIODIC REVIEWS WILL BE MADE TO ENSURE THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS. FORM 990, PART VI, SECTION C, LINE 19 AUDITED FINANCIALS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AT THE FILING ORGANIZATION'S OFFICE. FORM 990, PAGE 12, PART XII LINE 2C THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT OVERSEES THE SELECTION OF THE INDEPENDENT ACCOUNTANT AND OVERSEES THE AUDIT. THERE WAS NO CHANGE IN OVERSIGHT PROCESS OR SELECTION PROCESS FROM THE PREVIOUS YEAR. KENTUCKY DERBY FESTIVAL INC 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 610713833 PROVIDES EVENTS TO PROMOTE SOCIAL WELFARE. KY 501(C)(4) N/A N/A 0 0 1 1 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 KENTUCKY DERBY FESTIVAL INC P 63000 COST KENTUCKY DERBY FESTIVAL INC C 97500 FMV