Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $0

• 1b · Membership dues

  $0

• 1c · Fundraising events

  $0

• 1d · Related organizations

  $0

• 1e · Government grants (contributions)

  $0

• 1f · All other contributions, gifts and grants

  $7,242,330

• 1g · Noncash contributions included above

  $0

• 2a · Program service revenue: FEDERAL GRANTS & CONTRACTS

  total $295,501,256 · related or exempt $295,501,256 · unrelated business $0 · excluded $0

• 2b · Program service revenue: STATE & LOCAL GRANTS & CONTRACTS

  total $37,067,577 · related or exempt $37,067,577 · unrelated business $0 · excluded $0

• 2c · Program service revenue: RECOVERIES OF FAC & ADMIN COSTS

  total $97,429,235 · related or exempt $97,429,235 · unrelated business $0 · excluded $0

• 2d · Program service revenue: NONGOVERNMENTAL GRANTS & CONTRACTS

  total $34,936,190 · related or exempt $34,936,190 · unrelated business $0 · excluded $0

• 2e · Program service revenue: OTHER REVENUES

  total $11,816,866 · related or exempt $11,816,866 · unrelated business $0 · excluded $0

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $8,897,250 · related or exempt $0 · unrelated business $0 · excluded $8,897,250

• 4 · Income from investment of tax-exempt bond proceeds

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 5 · Royalties

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 6a · Gross rents

  real property $0 · personal property $0

• 6b · Less rental expenses

  real property $0 · personal property $0

• 6c · Rental income or loss

  real property $0 · personal property $0

• 6d · Net rental income or loss

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 7a · Gross sales of assets other than inventory

  securities $8,354,797 · other assets $0

• 7b · Less cost or other basis and sales expenses

  securities $7,339,952 · other assets $0

• 7c · Gain or loss

  securities $1,014,845 · other assets $0

• 7d · Net gain or loss

  total $1,014,845 · related or exempt $0 · unrelated business $0 · excluded $1,014,845

• 8a · Fundraising events: gross income

  $0

• 8a · Fundraising events: contributions included on line 1c

  $0

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $0 · unrelated business $0 · excluded $0

• 9a · Gaming: gross income

  $0

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 10a · Gross sales of inventory

  $0

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11a · Other revenue: LICENSE INCOME

  total $2,222,987 · related or exempt $2,222,987 · unrelated business $0 · excluded $0

• 11b · Other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11c · Other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $2,222,987

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $52,044,209 · program services $52,044,209

• 2 · Grants to domestic individuals

  total $0 · program services $0

• 3 · Grants to foreign organizations and individuals

  total $0 · program services $0

• 4 · Benefits paid to or for members

  total $0 · program services $0

• 5 · Compensation of officers, directors and key employees

  total $0 · program services $0 · management and general $0 · fundraising $0

• 6 · Compensation of disqualified persons

  total $0 · program services $0 · management and general $0 · fundraising $0

• 7 · Other salaries and wages

  total $0 · program services $0 · management and general $0 · fundraising $0

• 8 · Pension plan contributions

  total $0 · program services $0 · management and general $0 · fundraising $0

• 9 · Other employee benefits

  total $0 · program services $0 · management and general $0 · fundraising $0

• 10 · Payroll taxes

  total $0 · program services $0 · management and general $0 · fundraising $0

• 11a · Fees: management

  total $0 · program services $0 · management and general $0 · fundraising $0

• 11b · Fees: legal

  total $1,200,901 · program services $39,053 · management and general $1,161,848 · fundraising $0

• 11c · Fees: accounting

  total $135,000 · program services $0 · management and general $135,000 · fundraising $0

• 11d · Fees: lobbying

  total $180,000 · program services $0 · management and general $180,000 · fundraising $0

• 11e · Fees: professional fundraising services

  total $0 · fundraising $0

• 11f · Fees: investment management

  total $0 · program services $0 · management and general $0 · fundraising $0

• 11g · Fees: other

  total $8,847,025 · program services $8,797,270 · management and general $49,755 · fundraising $0

• 12 · Advertising and promotion

  total $0 · program services $0 · management and general $0 · fundraising $0

• 13 · Office expenses

  total $9,573,679 · program services $8,309,185 · management and general $1,264,494 · fundraising $0

• 14 · Information technology

  total $2,325,581 · program services $2,188,385 · management and general $137,196 · fundraising $0

• 15 · Royalties

  total $0 · program services $0 · management and general $0 · fundraising $0

• 16 · Occupancy

  total $2,326,080 · program services $2,319,989 · management and general $6,091 · fundraising $0

• 17 · Travel

  total $8,177,402 · program services $7,965,403 · management and general $211,999 · fundraising $0

• 18 · Travel or entertainment for public officials

  total $0 · program services $0 · management and general $0 · fundraising $0

• 19 · Conferences, conventions and meetings

  total $350,248 · program services $266,133 · management and general $84,115 · fundraising $0

• 20 · Interest

  total $4,994 · program services $4,994 · management and general $0 · fundraising $0

• 21 · Payments to affiliates

  total $0 · program services $0 · management and general $0 · fundraising $0

• 22 · Depreciation, depletion and amortization

  total $241,988 · program services $241,988 · management and general $0 · fundraising $0

• 23 · Insurance

  total $497,064 · program services $479 · management and general $496,585 · fundraising $0

• 24a · Other expenses: SALARY, BENEFITS & TAX REIMB

  total $293,916,521 · program services $292,745,769 · management and general $1,170,752 · fundraising $0

• 24b · Other expenses: SUBCONTRACTORS

  total $49,345,669 · program services $49,123,862 · management and general $221,807 · fundraising $0

• 24c · Other expenses: LAB SUPPLIES

  total $17,716,460 · program services $17,716,460 · management and general $0 · fundraising $0

• 24d · Other expenses: EQUIPMENT

  total $6,803,100 · program services $6,688,094 · management and general $115,006 · fundraising $0

• 24e · All other expenses

  total $29,183,311 · program services $28,852,732 · management and general $330,579 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $159,210,951 · end of year $164,862,978

• 2 · Savings and temporary cash investments

  beginning of year $0 · end of year $0

• 3 · Pledges and grants receivable

  beginning of year $0 · end of year $0

• 4 · Accounts receivable

  beginning of year $71,692,380 · end of year $77,495,353

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $0 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,186,735 · end of year $2,469,075

• 10a · Land, buildings and equipment: cost or other basis

  $4,019,221

• 10b · Land, buildings and equipment: accumulated depreciation

  $1,550,433

• 10c · Land, buildings and equipment, net

  beginning of year $2,537,323 · end of year $2,468,788

• 11 · Investments: publicly traded securities

  beginning of year $20,407,413 · end of year $22,053,564

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $7,282,146 · end of year $7,659,950

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $232,721 · end of year $59,268

• 17 · Accounts payable and accrued expenses

  beginning of year $13,064,436 · end of year $15,160,512

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $51,677,796 · end of year $47,008,073

• 20 · Tax-exempt bond liabilities

  beginning of year $0 · end of year $0

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $175,460 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $0 · end of year $0

• 28 · Net assets with donor restrictions

  beginning of year $0 · end of year $0

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $2,471,261 · end of year $2,394,955

• 31 · Retained earnings, endowment or other funds

  beginning of year $198,160,716 · end of year $212,505,436

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

A 457(F) CONTRACT WAS WRITTEN FOR DR. CAPILOUTO STARTING JULY 1, 2016, AND SHALL CONTINUE AS LONG AS HE REMAINS EMPLOYED WITH PAYMENTS COMMENCING FOR $178,000 AND PAYABLE EACH YEAR ON JULY 1. A 415(M) DEFERRED COMPENSATION CONTRACT WAS WRITTEN FOR DR. CAPILOUTO STARTING JULY 1, 2011, WITH PAYMENTS COMMENCING FOR $50,000 AND PAYABLE EACH YEAR THROUGH 2025. A 415(M) CONTRACT WAS WRITTEN FOR DR. MONDAY EFFECTIVE OCTOBER 1, 2020, WITH AN INITIAL RETENTION CONTRIBUTION OF $150,000 ON OCTOBER 31, 2020. AS LONG AS HE HAS CONTINUED EMPLOYMENT, ANNUAL CONTRIBUTIONS OF $250,000 WILL BE MADE ON JULY 1 EACH YEAR BEGINNING IN 2021 THROUGH 2023. A 415(M) CONTRACT WAS WRITTEN FOR DR. DIPAOLA EFFECTIVE OCTOBER 1, 2022, WITH AN INITIAL RETENTION CONTRIBUTION OF $110,000 ON OCTOBER 1, 2022. AS LONG AS HE HAS CONTINUED EMPLOYMENT AS PROVOST, ANNUAL CONTRIBUTIONS WILL BE MADE ON JUNE 1 EACH YEAR BEGINNING IN 2023 IN THE AMOUNT OF $110,000 AND INCREASE BY $25,000 EACH SUBSEQUENT YEAR THROUGH 2026.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• KENTUCKY TECHNOLOGY INC

  C Corporation · SEE PART VII · KY · 100% owned · share of income $403,549 · share of assets $10,948,016 · controlled entity

  Directly controlled by UK

• SECAT INC

  C Corporation · SALES · KY · 100% owned · share of income -$35,167 · share of assets $2,920,737 · controlled entity

  Directly controlled by KTI