Form 990 for tax year 2023

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

  $8,797,823

• 1g · Noncash contributions included above

  $0

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

  total $290,356,461 · related or exempt $290,356,461 · unrelated business $0 · excluded $0

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

  total $32,319,839 · related or exempt $32,319,839 · unrelated business $0 · excluded $0

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

  total $96,258,358 · related or exempt $96,258,358 · unrelated business $0 · excluded $0

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

  total $31,015,041 · related or exempt $31,015,041 · unrelated business $0 · excluded $0

• 2e · Program service revenue: OTHER REVENUES

  total $14,214,470 · related or exempt $14,214,470 · 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 $9,328,923 · related or exempt $0 · unrelated business $0 · excluded $9,328,923

• 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 $6,584,530 · other assets $0

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

  securities $6,538,391 · other assets $0

• 7c · Gain or loss

  securities $46,139 · other assets $0

• 7d · Net gain or loss

  total $46,139 · related or exempt $0 · unrelated business $0 · excluded $46,139

• 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 $4,346,761 · related or exempt $4,346,761 · 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

  $4,346,761

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $39,352,202 · program services $39,352,202

• 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 $683,622 · program services $33,334 · management and general $650,288 · fundraising $0

• 11c · Fees: accounting

  total -$1,543 · management and general -$1,543 · fundraising $0

• 11d · Fees: lobbying

  total $0 · program services $0 · management and general $0 · 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 $9,822,275 · program services $9,776,070 · management and general $46,205 · fundraising $0

• 12 · Advertising and promotion

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

• 13 · Office expenses

  total $10,156,210 · program services $8,793,614 · management and general $1,362,596 · fundraising $0

• 14 · Information technology

  total $2,204,131 · program services $2,557,058 · management and general -$352,927 · fundraising $0

• 15 · Royalties

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

• 16 · Occupancy

  total $2,364,776 · program services $2,356,481 · management and general $8,295 · fundraising $0

• 17 · Travel

  total $8,155,036 · program services $7,956,708 · management and general $198,328 · 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 $316,310 · program services $260,779 · management and general $55,531 · fundraising $0

• 20 · Interest

  total $7,229 · program services $7,229 · 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 $590,703 · program services $590,703 · management and general $0 · fundraising $0

• 23 · Insurance

  total $202,040 · program services $3,406 · management and general $198,634 · fundraising $0

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

  total $277,705,459 · program services $276,994,606 · management and general $710,853 · fundraising $0

• 24b · Other expenses: SUBCONTRACTORS

  total $53,113,860 · program services $52,790,445 · management and general $323,415 · fundraising $0

• 24c · Other expenses: LAB SUPPLIES

  total $18,120,843 · program services $18,120,843 · management and general $0 · fundraising $0

• 24d · Other expenses: EQUIPMENT

  total $6,199,835 · program services $6,126,528 · management and general $73,307 · fundraising $0

• 24e · All other expenses

  total $31,789,314 · program services $30,602,265 · management and general $1,187,049 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $140,552,392 · end of year $159,210,951

• 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 $60,005,198 · end of year $71,692,380

• 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 $3,721,681 · end of year $4,186,735

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

  $4,019,221

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

  $1,481,898

• 10c · Land, buildings and equipment, net

  beginning of year $2,620,683 · end of year $2,537,323

• 11 · Investments: publicly traded securities

  beginning of year $19,063,002 · end of year $20,407,413

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $7,609,082 · end of year $7,282,146

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $740,108 · end of year $232,721

• 17 · Accounts payable and accrued expenses

  beginning of year $12,514,837 · end of year $13,064,436

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $47,263,444 · end of year $51,677,796

• 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 $726,165 · end of year $175,460

• 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 $2,417,560 · end of year $2,471,261

• 31 · Retained earnings, endowment or other funds

  beginning of year $171,390,140 · end of year $198,160,716

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 -$33,283 · share of assets $12,499,841 · controlled entity

  Directly controlled by UK

• SECAT INC

  C Corporation · SALES · KY · 100% owned · share of income -$314,964 · share of assets $2,876,887 · controlled entity

  Directly controlled by KTI