Form 990 for tax year 2024
Filed by BUSINESS AND EDUCATION NETWORK INC.
Totals
- Total revenue
- $227,365
- Total expenses
- $819,861
- Contributions and grants received
- $205,775
- Grants paid
- $585,555
- Program service revenue
- $0
- Investment income
- $21,590
- Other revenue
- $0
- Total assets, end of year
- $11,015
- Total liabilities, end of year
- $24,735
- Net assets or fund balances, end of year
- -$13,720
- Program services expenses (Part IX)
- $586,248
- Management and general expenses
- $233,613
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $586,248
Program services were 71.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$205,775
-
3 · Investment income
total $21,590 · excluded $21,590
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $585,555 · program services $585,555
-
7 · Other salaries and wages
total $160,544 · management and general $160,544
-
8 · Pension plan contributions
total $8,027 · management and general $8,027
-
9 · Other employee benefits
total $10,254 · management and general $10,254
-
10 · Payroll taxes
total $12,843 · management and general $12,843
-
11c · Fees: accounting
total $3,500 · management and general $3,500
-
12 · Advertising and promotion
total $541 · management and general $541
-
16 · Occupancy
total $15,372 · management and general $15,372
-
17 · Travel
total $8,032 · management and general $8,032
-
22 · Depreciation, depletion and amortization
total $420 · management and general $420
-
24a · Other expenses: PROFESSIONAL DEVELOPMEN
total $9,501 · management and general $9,501
-
24b · Other expenses: MISCELLANEOUS EXPENSE
total $2,040 · management and general $2,040
-
24c · Other expenses: TELEPHONE EXPENSE
total $1,584 · management and general $1,584
-
24d · Other expenses: DUES AND SUBSCRIPTIONS
total $955 · management and general $955
-
24e · All other expenses
total $693 · program services $693
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $573,219 · end of year $1,752
-
4 · Accounts receivable
beginning of year $5,676 · end of year $9,263
-
10a · Land, buildings and equipment: cost or other basis
$0
-
10b · Land, buildings and equipment: accumulated depreciation
$0
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $23,790 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $23,910 · end of year $24,735
-
28 · Net assets with donor restrictions
beginning of year $578,775 · end of year -$13,720
Mission and programs · 2024
Mission
BEN WAS FORMED TO ASSIST IN INSURING AN AVAILABLE SKILLED WORKFORCE FOR LEXINGTON THROUGH COLLABORATION BETWEEN BUSINESS, EDUCATION, AND COMMUNITY PARTNERSHIPS.
Activities or mission (Part I)
BEN WAS FORMED TO ASSIST IN ENSURING AN AVAILABLE SKILLED WORKFORCE FOR LEXINGTON THROUGH A COLLABORATIVE BUSINESS, EDUCATION, AND COMMUNITY PARTNERSHIP.
-
REGIONAL COMPETITIVENESS PLAN - DEVELOPMENT OF A REGIONAL ECONCOMIC DEVELOPMENT COMPETITIVENESS STRATEGY WITH INPUT AND REPRESENTATION FROM THE NINE COUNTIES THAT COMPRISE CENTRAL KENTUCKY.
Expenses $586,248 · Grants $585,555
As filed on the 2024 return.
Listed in Part VII
-
Tucker BallingerTUCKER BALLINGER
OFFICER
- Total calculated
- $0
- Hours/week
- 1
-
Mark ManuelMARK MANUEL
OFFICER
- Total calculated
- $0
- Hours/week
- 1
-
Eric SauvageERIC SAUVAGE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Daryl SmithDARYL SMITH
OFFICER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Mary Ann VimontMARY ANN VIMONT
OFFICER
- Total calculated
- $0
- Hours/week
- 1
-
Elisa Bruce CooleyELISA BRUCE COOLEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Gina GreathouseGINA GREATHOUSE
BOARD MEMBER
- Total calculated
- $182,173
- From this org
- $0
- From related orgs
- $166,063
- Other
- $16,110
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $166,063 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $8,610 related
- Nontaxable benefits
- $0 + $7,500 related
- Filer's total
- $0 + $182,173 related
-
Lynette WalkerLYNETTE WALKER
OFFICER
- Total calculated
- $0
- Hours/week
- 1
-
Robert QuickROBERT QUICK
BOARD MEMBER
- Total calculated
- $284,382
- From this org
- $0
- From related orgs
- $252,769
- Other
- $31,613
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $252,769 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $13,079 related
- Nontaxable benefits
- $0 + $18,534 related
- Filer's total
- $0 + $284,382 related
-
Todd JohnsonTODD JOHNSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
David KiddDAVID KIDD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Gwen RileyGWEN RILEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Todd ZieglerTODD ZIEGLER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Carrie RogersCARRIE ROGERS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Helen E DexterHELEN E DEXTER
EXECUTIVE DIRECTOR
- Total calculated
- $129,112
- From this org
- $0
- From related orgs
- $115,627
- Other
- $13,485
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
COMMERCE LEXINGTON FOUNDATION INC
$585,555
DONATION TO ASSIST WITH CREATION OF ENTITY
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(6) · ECONOMIC AND WORKFORCE DEVELOPMENT IN CENTRAL KENTUCKY · KY
-
LEXINGTON STRIDES AHEAD FOUNDATION INC
501(C)(6) · FUNDING OF ECONOMIC DEVELOPMENT FOR THE GREATER LEXINGTON AREA · KY
-
COMMERCE LEXINGTON FOUNDATION INC
501(C)(3) · ECONOMIC AND WORKFORCE DEVELOPMENT IN CENTRAL KENTUCKY · KY
Assets distributed on this return
Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.
-
COMMERCE LEXINGTON INC FOUNDATION
$585,555
Disposition · NET ASSET TRANSFER TO COMMERCE LEXINGTON FOUNDATION, INC. · Dec 31, 2024 · 501(C)(3)
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 4 September 2025
- IRS schema version
- 2024v5.2
- Source object
- 202512809349302061
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