2024-08-15T10:25:16-05:00 2023-09-30 882730877 CHERRY BEKAERT ADVISORY LLC 101 SOUTH 5TH STREET STE 2100 LOUISVILLE KY 40202 990 2022-10-01 610713833 KENTUCKY DERBY FESTIVAL INC KENT 5025846383 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 MATT GIBSON PRESIDENT 5025846383 2024-08-14 1 1 AMY DOSIK P00890743 8885871719 2022 2024-08-08 14:25:15Z MATT GIBSON 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 8002786 0 X WWW.KDF.ORG X 1957 KY PROVIDE KENTUCKY DERBY FESTIVAL EVENTS TO PROMOTE SOCIAL WELFARE IN THE GREATER LOUISVILLE AREA. 66 66 26 3500 0 0 0 0 6778750 7158558 107201 71669 59220 14394 6945171 7244621 95000 97500 0 0 1637529 1696570 0 0 1092827 5638040 5832290 7370569 7626360 -425398 -381739 5949101 5705840 2980699 2787501 2968402 2918339 X PROVIDE CREATIVE AND UNIQUE ENTERTAINMENT AND COMMUNITY SERVICE FOR THE PEOPLE OF THE GREATER LOUISVILLE AREA THAT DIRECTLY CONTRIBUTES TO THE AESTHETIC, CULTURAL, EDUCATIONAL, CHARITABLE AND ECONOMIC DEVELOPMENT OF THE AREA. WE WILL ORGANIZE, PROMOTE AND CONDUCT EVENTS USING THE COLLECTIVE EFFORTS AND RESOURCES OF VOLUNTEERS, SMALL AND LARGE BUSINESSES, NON-PROFIT ORGANIZATIONS AND GOVERNMENTAL ENTITIES TO ENHANCE THE POSITIVE INTERNATIONAL RECOGNITION, ECONOMIC AND CULTURAL DEVELOPMENT, AND COMMUNITY IMAGE OF THE GREATER LOUISVILLE AREA. 0 0 5290577 97500 7123566 PROVIDED KENTUCKY DERBY FESTIVAL EVENTS, INCLUDING THUNDER OVER LOUISVILLE, PEGASUS PARADE, BASKETBALL GAME, STEAMBOAT RACE, ETC. TO PROMOTE SOCIAL WELFARE IN THE GREATER LOUISVILLE AREA AND THROUGHOUT THE STATE. 5290577 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 24 0 1 26 1 0 0 0 0 0 0 0 0 X 66 66 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 KY X TIM WHITTEN 5025846383 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 JASON CHIN BOARD MEMBER 3.00 0.00 X 0 0 0 JEAN SCOTT BOARD MEMBER 3.00 0.00 X 0 0 0 JILL BELL BOARD MEMBER 3.00 0.00 X 0 0 0 JO GRAVES BOARD MEMBER 3.00 0.50 X 0 0 0 JOEY WAGNER BOARD MEMBER 3.00 0.00 X 0 0 0 JOHN AUBREY BOARD MEMBER 3.00 0.00 X 0 0 0 KATHY BINGHAM BOARD MEMBER 3.00 0.00 X 0 0 0 KELLIE WATSON BOARD MEMBER 3.00 0.00 X 0 0 0 LES FUGATE BOARD MEMBER 3.00 0.00 X 0 0 0 LESLIE RAEBER-EBERLE BOARD MEMBER 3.00 0.00 X 0 0 0 LISA COLUMBIA BOARD MEMBER 3.00 0.00 X 0 0 0 MARIA SMITH BOARD MEMBER 3.00 0.00 X 0 0 0 MARINA GONZALEZ BOARD MEMBER 3.00 0.00 X 0 0 0 MARY IRBY-JONES BOARD MEMBER 3.00 0.00 X 0 0 0 MEGAN THOBEN BOARD MEMBER 3.00 0.00 X 0 0 0 MERILYN COSLOW BOARD MEMBER 3.00 0.00 X 0 0 0 MIKE GANDOLFO BOARD MEMBER 3.00 0.00 X 0 0 0 TYLER BLISS BOARD MEMBER 3.00 0.00 X 0 0 0 TRACY BALLARD BOARD MEMBER 3.00 0.00 X 0 0 0 TAYLOR POWERS BOARD MEMBER 3.00 0.00 X 0 0 0 STEVE ANDRIOT BOARD MEMBER 3.00 0.00 X 0 0 0 STACEY YATES BOARD MEMBER 3.00 0.00 X 0 0 0 SARAH NEFF BOARD MEMBER 3.00 0.00 X 0 0 0 JANICE CATES BOARD MEMBER 3.00 0.00 X 0 0 0 ROBERT HECHT BOARD MEMBER 3.00 0.00 X 0 0 0 PHILLIP BAKER BOARD MEMBER 3.00 0.00 X 0 0 0 PAUL CARROLL BOARD MEMBER 3.00 0.00 X 0 0 0 NANCY TRAFTON BOARD MEMBER 3.00 0.00 X 0 0 0 NANCY O'HEARN BOARD MEMBER 3.00 0.00 X 0 0 0 MIKE PARRINO BOARD MEMBER 3.00 0.00 X 0 0 0 MIKE MANGEOT BOARD MEMBER 3.00 0.00 X 0 0 0 REBECCA WOOD BOARD MEMBER 3.00 0.00 X 0 0 0 WENDY CHESSER BOARD MEMBER 3.00 0.00 X 0 0 0 JANET LIVELY MCCAULEY BOARD MEMBER 3.00 0.00 X 0 0 0 GARY FRIEDMAN BOARD MEMBER 3.00 0.00 X 0 0 0 MIKE SHEA CHAIR/BOARD MEMBER 3.00 0.50 X X 0 0 0 ERIN RASINEN VICE CHAIR/CHAIR ELECT 3.00 0.50 X X 0 0 0 ALFONSO CORNISH SECRETARY/VICE CHAIR 3.00 0.00 X X 0 0 0 NATASHA COLLINS TREASURER/SECRETARY 3.00 0.00 X X 0 0 0 LOUIS WATERMAN TREASURER/BOARD MEMBER 3.00 0.00 X X 0 0 0 ANDY MURPHY BOARD MEMBER 3.00 0.00 X 0 0 0 ASHLEY PARROTT BOARD MEMBER 3.00 0.00 X 0 0 0 BARB WAINWRIGHT BOARD MEMBER 3.00 0.00 X 0 0 0 BARBARA PORTER BOARD MEMBER 3.00 0.00 X 0 0 0 BILL FISHER BOARD MEMBER 3.00 0.00 X 0 0 0 BOB HERRE BOARD MEMBER 3.00 0.00 X 0 0 0 BRIAN WALTERS BOARD MEMBER 3.00 0.00 X 0 0 0 BRIANA LATHON BOARD MEMBER 3.00 0.00 X 0 0 0 BRUCE SALYER BOARD MEMBER 3.00 0.00 X 0 0 0 CAROL NORD BOARD MEMBER 3.00 0.00 X 0 0 0 ERIN GRANT BOARD MEMBER 3.00 0.00 X 0 0 0 DONNA SALAS BOARD MEMBER 3.00 0.00 X 0 0 0 DILLON MILES BOARD MEMBER 3.00 0.00 X 0 0 0 DEBBIE ROBERSON BOARD MEMBER 3.00 0.00 X 0 0 0 DAVID VOGEL BOARD MEMBER 3.00 0.00 X 0 0 0 DAVID BINGHAM BOARD MEMBER 3.00 0.00 X 0 0 0 J P DELANEY BOARD MEMBER 3.00 0.00 X 0 0 0 DAVID BECK BOARD MEMBER 3.00 0.00 X 0 0 0 DALE WOODS BOARD MEMBER 3.00 0.00 X 0 0 0 CYNTHIA GOLDSVERRY BOARD MEMBER 3.00 0.00 X 0 0 0 CHARLES HOFFMAN BOARD MEMBER 3.00 0.00 X 0 0 0 CASSIDY HYDE BOARD MEMBER 3.00 0.00 X 0 0 0 CASEY RAMAGE BOARD MEMBER 3.00 0.00 X 0 0 0 CAROLLE JONES CLAY BOARD MEMBER 3.00 0.50 X 0 0 0 DARREN HOBBS BOARD MEMBER 3.00 0.00 X 0 0 0 WILLIAM DONALDSON BOARD MEMBER 3.00 0.00 X 0 0 0 MATTHEW GIBSON PRESIDENT & CEO 35.00 5.00 X 210878 0 9912 TIMOTHY WHITTEN CHIEF FINANCIAL OFFICER 35.00 5.00 X 90909 0 9912 APRIL ZIK MARKETING MANAGER 40.00 0.00 X 168423 0 9912 470210 0 29736 2 0 1 0 VIMARC 1205 E WASHINGTON ST LOUISVILLE KY 40206 ADVERTISING 533400 SYNERGISM INC 2600 CONSTANT COMMENT PLACE LOUISVILLE KY 40299 TECHNOLOGY CONSULTING 235200 THE GALT HOUSE 140 N 4TH ST LOUISVILLE KY 40202 HOTEL/CATERING 188000 3 FESTIVAL EVENTS 900099 5547066 5547066 CORPORATE MEMBERSHIPS 900099 1611492 1611492 7158558 91099 91099 40222 40222 671014 690444 -19430 -19430 -19430 33161 23997 9164 9164 8732 43724 -34992 -34992 7244621 7123566 0 121055 X 97500 97500 399126 98265 182520 118341 1020019 251129 466454 302436 168776 41552 77182 50042 108649 26749 49686 32214 21500 21500 29996 29996 420219 340943 79276 583461 583461 101446 80762 20684 158350 54461 93449 10440 124856 107309 17547 15880 13250 2630 54999 54999 56160 13827 25682 16651 144147 119497 24650 EVENT EQUIPMENT & SUPPL 761998 761998 HOSPITALITY, ENTERTAINM 724876 724876 OTHER PROGRAM COSTS 594231 594231 SPONSOR BENEFITS 326696 326696 1713475 1380767 96701 236007 7626360 5290577 1242956 1092827 722938 1115641 944863 248167 104537 33750 11001 5501 45865 79762 1882470 1417221 498584 465249 3020972 3338282 183643 185194 416698 234294 5949101 5705840 33098 32282 642700 520925 2304901 2234294 2980699 2787501 X 2968402 2918339 2968402 2918339 5949101 5705840 -381739 331676 0 X X 0 1 X 1 0 104790 104790 1154354 844866 309488 623326 572355 50971 465249 POST EMPLOYMENT BENEFIT PAYABLE 234294 SBA LOAN 2000000 2234294 X 7614022 331676 67721 399397 7214625 29996 29996 7244621 7664085 67721 67721 7596364 29996 29996 7626360 PART X, LINE 2: THE FESTIVAL 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 LIABILITY FOR UNCERTAIN TAX POSITIONS HAS BEEN REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: GAMING EXPENSES 23,997. COST OF GOODS SOLD 43,724. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAMING EXPENSES 23,997. COST OF GOODS SOLD 43,724. 33161 15423 1166 6631 777 0 33161 15423 1166 6631 777 23997 9164 KY 1 0 0 0 1.00000 TIMOTHY A WHITTEN 1001 S THIRD STREET LOUISVILLE KY 40203 0 MATT GIBSON MANAGED THE OVERALL OPERATION OF THE GAME FROM REGISTRATION TO CLEANING UP AFTERWARD. X 0 1 KENTUCKY DERBY FESTIVAL FOUNDATION 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 311629357 501(C)(3) 97500 0 TO FUND EVENTS AND PROVIDE GENERAL SUPPORT 1 0 PART I, LINE 2: RECIPIENT ORGANIZATION IS A RELATED ORGANIZATION WITH SOME COMMON BOARD MEMBERS. THEREFORE, THE ORGANIZATION'S USE OF THE FUNDS IS CLOSELY MONITORED WHEN REVIEWING FINANCIAL REPORTS OF BOTH ENTITIES. X X X 0 0 0 0 0 0 0 0 0 MATTHEW GIBSON PRESIDENT & CEO 185878 0 25000 0 0 0 0 0 9912 0 220790 0 0 0 APRIL ZIK MARKETING MANAGER 168423 0 0 0 0 0 0 0 9912 0 178335 0 0 0 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 EXECUTIVE COMMITTEE FOR REVIEW AND APPROVAL. ONCE THE COMMENTS FROM THE EXECUTIVE BOARD ARE REVIEWED THE FINAL DRAFT OF THE RETURN IS PROVIDED TO THE ENTIRE BOARD 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. THE AUDIT COMMITTEE OF THE ORGANIZATION SHALL BE TASKED WITH REVIEWING AND MAKING DETERMINATIONS ON ALL ACTUAL OR POSSIBLE CONFLICTS OF INTEREST. THE AUDIT COMMITTEE SHALL REPORT ITS FINDINGS TO THE EXECUTIVE BOARD OF THE ORGANIZATION. IF A DETERMINATION CANNOT BE MADE BY THE AUDIT COMMITTEE, THE EXECUTIVE BOARD SHALL MAKE A FINAL DETERMINATION ON THE ISSUE. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. PERIODIC REVIEW 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. TERMINATIONS ON ALL ACTUAL OR POSSIBLE CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION REVIEWS COMPARATIVE SALARY INFORMATION PROVIDED BY THE INTERNATIONAL FESTIVAL AND EVENTS ASSOCIATION. THE COMPENSATION COMMITTEE APPROVES THE PRESIDENT/CEO'S SALARY BASED OFF OF THE INFORMATION OBTAINED. THE PRESIDENT/CEO AND THE EXECUTIVE BOARD CONSIDERS EXPERIENCE AND YEARLY EVALUATIONS AND APPROVES THE COMPENSATION FOR ALL OTHER OFFICERS. 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, PART IX, LINE 24E SOUND AND AUDIO: PROGRAM SERVICE EXPENSES 316,535. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 316,535. EQUIPMENT RENTAL: PROGRAM SERVICE EXPENSES 290,349. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 290,349. COMMISSIONS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 236,007. TOTAL EXPENSES 236,007. UNIFORMS AND APPAREL: PROGRAM SERVICE EXPENSES 183,727. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 183,727. SECURITY: PROGRAM SERVICE EXPENSES 135,307. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 135,307. BANNERS AND DECORATIONS: PROGRAM SERVICE EXPENSES 118,728. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 118,728. SITE RENTAL: PROGRAM SERVICE EXPENSES 116,210. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 116,210. AWARDS: PROGRAM SERVICE EXPENSES 107,295. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 107,295. BARRICADES: PROGRAM SERVICE EXPENSES 105,259. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 105,259. EDUCATION AND TRAINING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 40,856. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 40,856. OTHER ADMIN COSTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 40,810. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 40,810. DUES AND SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 7,357. MANAGEMENT AND GENERAL EXPENSES 9,326. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,683. VEHICLE OPERATION: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 5,709. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,709. 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 THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE YEAR. KENTUCKY DERBY FESTIVAL FOUNDATION 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 311629357 PROMOTING AND DEVELOPING THE INTEREST OF THE GENERAL PUBLIC. KY 501(C)(3) LINE 10 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 KENTUCKY DERBY FESTIVAL FOUNDATION Q 63000 COST KENTUCKY DERBY FESTIVAL FOUNDATION B 97500 FMV