2026-08-03T12:04:57-05:00 2025-09-30 621199757 LBMC PC 325 WEST MAIN STREET STE 1600 LOUISVILLE KY 40202 990 2024-10-01 311023459 KENTUCKY DERBY MUSEUM CORPORATION KENT 5026371111 PO BOX 21177 LOUISVILLE KY 402210177 PATRICK ARMSTRONG PRESIDENT AND CEO 5026371111 2026-07-22 1 0 GIA TREVINO P02090261 5025851600 2024 2025-03-06 01:10:19Z PATRICK ARMSTRONG PO BOX 21177 LOUISVILLE KY 402210177 13170141 0 X WWW.DERBYMUSEUM.ORG X 1981 KY ENGAGE, EDUCATE, AND EXCITE EVERYONE ABOUT THE EXTRAORDINARY KENTUCKY DERBY EXPERIENCE! 22 22 149 40 817179 0 624598 1538697 4535841 4357745 666085 926952 3422691 1778907 9249215 8602301 0 0 0 0 3668085 3396268 0 0 234764 4689858 4282523 8357943 7678791 891272 923510 41138988 42998837 1757333 840818 39381655 42158019 TO ENGAGE, EDUCATE, AND EXCITE EVERYONE ABOUT THE EXTRAORDINARY EXPERIENCE THAT IS THE KENTUCKY DERBY! 0 0 5749053 5305322 THE MUSEUM'S EXHIBITS DOCUMENT THE HISTORY AND TRADITION OF THE KENTUCKY DERBY, CHURCHILL DOWNS AND THOROUGHBRED RACING. IN ADDITION, THE MUSEUM OFFERS A FREE KIDS PROGRAM TO ALL PUBLIC AND PAROCHIAL SCHOOLS IN INDIANA AND KENTUCKY. THE MUSEUM ALSO HAS AN OUTREACH PROGRAM THAT TRAVELS TO COMMUNITIES WITHIN KENTUCKY TO EDUCATE KENTUCKY YOUTH ABOUT THE ECONOMICS, HISTORY AND SIGNIFICANCE OF THE KENTUCKY DERBY. 5749053 1 1 0 0 0 0 0 1 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 0 0 0 0 1 14 0 1 149 1 1 1 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 0 0 0 0 1 0 0 KY X PATRICK ARMSTRONG 5026371111 PO BOX 21177 LOUISVILLE KY 402210177 PATRICK ARMSTRONG PRESIDENT & CEO 40.00 X 278658 0 17401 KATIE FUSSENEGGER EXECUTIVE VICE-PRESIDENT 40.00 X 175039 0 14903 DENNIS BURCH SENIOR DIRECTOR OF ACCOUNTING & FINANCE 40.00 X 115825 0 10719 KRISTINA GERARD SENIOR DIRECTOR OF RETAIL OPERATIONS 40.00 X 113019 0 12717 JEFF KENNEDY SENIOR DIRECTOR OF TECHNOLOGY 40.00 X 115825 0 9761 CHRIS GOODLETT SENIOR DIRECTOR OF CURATORIAL AND EDUCATION 40.00 X 102548 0 10065 JA HILLENBRAND CHAIRMAN 5.00 X X 0 0 0 HAROLD WORKMAN VICE CHAIRMAN 5.00 X X 0 0 0 ANITA EBERT SECRETARY 5.00 X X 0 0 0 TODD SPENCER TREASURER 5.00 X X 0 0 0 MIKE ANDERSON DIRECTOR 5.00 X 0 0 0 MARK BACON DIRECTOR 5.00 X 0 0 0 CLEO BATTLE DIRECTOR 5.00 X 0 0 0 LISA BENSON DIRECTOR 5.00 X 0 0 0 TYLER BLISS DIRECTOR 5.00 X 0 0 0 RHONDA JO CONNER DIRECTOR 5.00 X 0 0 0 PAT DAY DIRECTOR 5.00 X 0 0 0 CRAIG DILGER DIRECTOR 5.00 X 0 0 0 MIKE GUENTHNER DIRECTOR 5.00 X 0 0 0 JOSH HEIRD DIRECTOR 5.00 X 0 0 0 BRIANA LATHON BLUFORD DIRECTOR 5.00 X 0 0 0 BRAD MAUDLIN DIRECTOR 5.00 X 0 0 0 DAVID NETT DIRECTOR 5.00 X 0 0 0 EAMON O'BRIEN DIRECTOR 5.00 X 0 0 0 MASON RUMMEL DIRECTOR 5.00 X 0 0 0 SEEMA SHETH DIRECTOR 5.00 X 0 0 0 ASHLY DAVIS-SIGMAN DIRECTOR 5.00 X 0 0 0 MARITA WILLIS DIRECTOR 5.00 X 0 0 0 900914 0 75566 6 0 1 0 DONNA LAWRENCE PRODUCTIONS PO BOX 4608 LOUISVILLE KY 40204 MEDIA 1646520 DOE ANDERSON 680 S 4TH STREET LOUISVILLE KY 40202 ADVERTISING 392891 KENTUCKIANA MATERIAL HANDLING 836 S 6TH STREET LOUISVILLE KY 40203 CONSTRUCTION 337480 INTERTECH MECHANICAL SERVICES 5800 POPLAR LEVEL RD LOUISVILLE KY 40228 CONSTRUCTION 252187 BADGETT CONSTRUCTORS LLC 217 E BURNETT AVE LOUISVILLE KY 40208 CONSTRUCTION 159420 6 204247 1334450 1538697 ADMISSIONS 713990 3871706 3871706 CATERING INCOME 722320 448404 448404 MEMBERSHIP INCOME 713990 37635 37635 4357745 701915 701915 1180915 604828 576087 576087 576087 217037 8000 0 0 217037 8000 225037 225037 131250 204247 117099 14151 14151 4971752 3845913 1125839 308660 817179 OTHER INCOME 900099 62830 62830 62830 8602301 5305322 817179 941103 422604 422604 2354240 1742322 477487 134431 100745 67855 29044 3846 293568 225365 54289 13914 225111 158144 58265 8702 17510 17510 24700 24700 100833 100833 72399 71284 1115 585785 540984 43248 1553 528155 478470 47062 2623 464734 371907 83040 9787 558330 558330 1090912 733188 300335 57389 55587 36547 18743 297 658013 658013 EXHIBITION EXPENSE 74452 74452 PROGRAMMING EXPENSE 26309 26309 OTHER 24804 5883 16699 2222 7678791 5749053 1694974 234764 13775 13413 2045607 1435545 266198 199452 911556 776015 106546 103924 39468606 25364445 12892052 14104161 24632035 26079174 271219 287153 41138988 42998837 557549 613780 1199784 227038 1757333 840818 X 39381655 42158019 39381655 42158019 41138988 42998837 X 923510 2102854 -250000 X 0 1 X 1 0 X 4949557 406994 1848690 624598 1538697 9368536 4273930 6604401 7519445 9731729 9693233 37822738 991160 778873 821163 790080 131250 3512526 10214647 7790268 10189298 11146407 11363180 50703800 171500 58000 115000 62000 1099750 1506250 0 171500 58000 115000 62000 1099750 1506250 49197550 339011 430703 595651 618168 701915 2685448 0 0 0 0 0 339011 430703 595651 618168 701915 2685448 35417 83519 62830 181766 10553658 8220971 10820366 11848094 12127925 53571014 0.91840 0.65620 0.05010 0.32500 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 51427 51427 19914640 11116918 8797722 437555 314511 123044 18682476 13695624 4986852 382508 237392 145116 14104161 X 12686427 2102854 2082105 4184959 8501468 100833 100833 8602301 9660063 2082105 2082105 7577958 100833 100833 7678791 PART III, LINE 1A: COLLECTIONS--THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE MUSEUM'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENTS OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT RESTRICTIONS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR AS NET ASSETS WITH DONOR RESTRICTIONS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. PART III, LINE 4: THE MUSEUM'S COLLECTIONS ARE MADE UP OF ARTIFACTS OF HISTORICAL SIGNIFICANCE AND ART OBJECTS THAT ARE HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. THE COLLECTIONS ARE SUBJECT TO A POLICY THAT REQUIRES PROCEEDS FROM THEIR SALES TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. PART X, LINE 2: THE MUSEUM IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE MUSEUM IS SUBJECT TO INCOME TAXES ON PROFITS GENERATED BY THE SALE OF ITEMS DEEMED UNRELATED TO THE MUSEUM'S EXEMPT OPERATING PURPOSE. THE MUSEUM HAS GENERATED NET TAX OPERATING LOSSES SINCE INCEPTION AND, AS SUCH, HAS PAID NO INCOME TAXES. THE MUSEUM HAS NET OPERATING LOSS CARRY FORWARDS OF $4,688,746 AND $4,165,709 (EXPIRING FROM 2026 THROUGH 2035) FOR 2025 AND 2024, RESPECTIVELY, AVAILABLE TO OFFSET FUTURE TAXABLE INCOME, IF ANY. THIS RESULTS IN A DEFERRED TAX ASSET OF $984,637 AND $874,799 FOR 2025 AND 2024, RESPECTIVELY, WHICH IS FULLY OFFSET BY A VALUATION ALLOWANCE SINCE MANAGEMENT CANNOT PREDICT WHEN, IF EVER, SUCH AN ASSET WOULD BE REALIZED. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 117,099. RENTAL EXPENSES 604,828. COST OF GOODS SOLD 1,360,178. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 117,099. RENTAL EXPENSES 604,828. COST OF GOODS SOLD 1,360,178. GALA 335497 204247 131250 18595 22500 76004 335497 204247 131250 18595 22500 76004 117099 14151 KY 1 0 0 0 0 0 1 X 0 0 0 0 0 0 0 0 0 PATRICK ARMSTRONG PRESIDENT & CEO 278658 0 0 0 0 0 9722 0 7679 0 296059 0 0 0 KATIE FUSSENEGGER EXECUTIVE VICE-PRESIDENT 175039 0 0 0 0 0 6282 0 8621 0 189942 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE SENIOR DIRECTOR OF FINANCE, THE PRESIDENT, AND THE CEO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS MEETS ANNUALLY TO REVIEW THE PERFORMANCE AND DETERMINE ANY COMPENSATION CHANGES FOR THE PRESIDENT AND CEO. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: COLLECTION ITEMS PURCHASED -250,000.