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Nonprofiteer
← COMMONWEALTH FUND FOR KET INC

Form 990 for tax year 2023

Filed by COMMONWEALTH FUND FOR KET INC.

Totals

Total revenue
$15,032,998
Total expenses
$12,827,170
Contributions and grants received
$12,412,908
Grants paid
$10,191,000
Program service revenue
$0
Investment income
$2,683,220
Other revenue
-$63,130
Total assets, end of year
$45,150,622
Total liabilities, end of year
$724,074
Net assets or fund balances, end of year
$44,426,548
Program services expenses (Part IX)
$10,191,000
Management and general expenses
$1,719,256
Fundraising expenses
$916,914
Program service expenses (Part III)
$10,191,000

Program services were 79.4% 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.

  • 1c · Fundraising events

    $314,528

  • 1f · All other contributions, gifts and grants

    $12,098,380

  • 1g · Noncash contributions included above

    $245,612

  • 3 · Investment income

    total $751,396 · excluded $751,396

  • 7a · Gross sales of assets other than inventory

    securities $16,331,619

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

    securities $14,399,795

  • 7c · Gain or loss

    securities $1,931,824

  • 7d · Net gain or loss

    total $1,931,824 · excluded $1,931,824

  • 8a · Fundraising events: gross income

    $194,030

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

    $314,528

  • 8b · Fundraising events: direct expenses

    $274,448

  • 8c · Net income from fundraising events

    total -$80,418 · excluded -$80,418

  • 11a · Other revenue: OTHER REVENUE

    total $17,288 · excluded $17,288

  • 11e · Other revenue, total

    $17,288

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,191,000 · program services $10,191,000

  • 11c · Fees: accounting

    total $14,750 · management and general $14,750

  • 11f · Fees: investment management

    total $172,398 · management and general $172,398

  • 11g · Fees: other

    total $1,344,809 · management and general $1,315,476 · fundraising $29,333

  • 12 · Advertising and promotion

    total $449 · management and general $151 · fundraising $298

  • 13 · Office expenses

    total $55,888 · management and general $2,473 · fundraising $53,415

  • 16 · Occupancy

    total $22,898 · management and general $22,898

  • 17 · Travel

    total $16,908 · management and general $6,952 · fundraising $9,956

  • 19 · Conferences, conventions and meetings

    total $13,036 · management and general $6,632 · fundraising $6,404

  • 20 · Interest

    total $3,053 · management and general $3,053

  • 22 · Depreciation, depletion and amortization

    total $49,887 · management and general $49,887

  • 23 · Insurance

    total $30,513 · management and general $30,513

  • 24a · Other expenses: POSTAGE AND SHIPPING

    total $372,631 · management and general $685 · fundraising $371,946

  • 24b · Other expenses: PREMIUMS/MEMBER CARDS

    total $201,846 · fundraising $201,846

  • 24c · Other expenses: BANK FEES

    total $144,834 · management and general $1,181 · fundraising $143,653

  • 24d · Other expenses: SPECIAL EVENTS

    total $57,915 · fundraising $57,915

  • 24e · All other expenses

    total $134,355 · management and general $92,207 · fundraising $42,148

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,966,666 · end of year $2,275,432

  • 3 · Pledges and grants receivable

    beginning of year $86,234 · end of year $1,308,000

  • 4 · Accounts receivable

    end of year $1,068

  • 7 · Other notes and loans receivable

    beginning of year $266,810 · end of year $501,277

  • 9 · Prepaid expenses and deferred charges

    beginning of year $45,050 · end of year $50,559

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

    $930,759

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

    $737,739

  • 10c · Land, buildings and equipment, net

    beginning of year $242,908 · end of year $193,020

  • 11 · Investments: publicly traded securities

    beginning of year $32,300,057 · end of year $38,061,017

  • 12 · Investments: other securities

    beginning of year $1,609,811 · end of year $2,698,902

  • 15 · Other assets

    beginning of year $43,705 · end of year $61,347

  • 17 · Accounts payable and accrued expenses

    beginning of year $23,145 · end of year $24,731

  • 19 · Deferred revenue

    beginning of year $380,949 · end of year $550,705

  • 25 · Other liabilities

    beginning of year $175,544 · end of year $148,638

  • 29 · Capital stock, trust principal or current funds

    beginning of year $27,521,987 · end of year $39,778,046

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

    beginning of year $155,524 · end of year $143,851

  • 31 · Retained earnings, endowment or other funds

    beginning of year $10,304,092 · end of year $4,504,651

Mission and programs · 2023

Mission

THE ORGANIZATION'S MISSION IS TO SUPPORT AND FURTHER THE EDUCATIONAL, CHARITABLE AND PUBLIC PURPOSES AND ACTIVITIES OF THE KENTUCKY AUTHORITY FOR EDUCATIONAL TELEVISION (AUTHORITY) AND THE RELATED KENTUCKY EDUCATIONAL TELEVISION FOUNDATION, INC. (FOUNDATION). THE FUND'S PRIMARY PURPOSE IS TO RECEIVE, HOLD AND ADMINISTER FUNDS PROVIDED BY ITS FUNDRAISING ACTIVITIES, WHICH ARE CONCENTRATED PRIMARILY IN THE STATE OF KENTUCKY, FOR THE BENEFIT OF THE AUTHORITY AND THE FOUNDATION.

Activities or mission (Part I)

THE FUND IS TO RECEIVE, HOLD, AND ADMINISTER FUNDS PROVIDED BY ITS FUNDRAISING ACTIVITIES FOR THE BENEFIT OF THE KENTUCKY AUTHORITY FOR EDUCATIONAL TELEVISION.

  • THE ORGANIZATION'S PURPOSE IS TO SUPPORT THE MISSION OF THE AUTHORITY FOR KENTUCKY EDUCATIONAL TELEVISION, THE GOVERNING BODY OF KENTUCKY EDUCATIONAL TELEVISION (KET). AS ONE OF THE NATION'S LARGEST PUBLIC TELEVISION NETWORKS, KET IS USED BY MORE THAN 2 MILLION PEOPLE EACH WEEK AND ITS EDUCATIONAL RESOURCES ARE UTILIZED IN EVERY KENTUCKY SCHOOL DISTRICT AS WELL AS CLASSROOMS ACROSS THE NATION. ACCESSIBLE THROUGH BROADCAST, MOBILE AND CONNECTED DEVICES, KET'S CONTENT INCLUDES ORIGINALLY PRODUCED KENTUCKY HISTORY, CULTURE AND PUBLIC AFFAIRS PROGRAMS IN ADDITION TO THE NATIONAL PBS LINEUP. SERVING THE EDUCATIONAL NEEDS OF THE STATE, KET DELIVERS THE MOST-TRUSTED CHILDREN'S EDUCATIONAL PROGRAMMING PLUS CRADLE-TO-CAREER INSTRUCTIONAL SERVICES INCLUDING EARLY CHILDHOOD TEACHING TOOLS AND CERTIFICATION, K-12 DIGITAL LEARNING RESOURCES AND PROFESSIONAL TRAINING FOR EDUCATORS, AND GED AND WORKFORCE DEVELOPMENT PREP. THE WEBSITE WWW.KET.ORG/MAKING-A-DIFFERENCE-ARCHIVES TELLS THE STORY OF THE TEACHERS, STUDENTS, FAMILIES AND COMMUNITIES IMPACTED BY KET'S PROGRAMS AND SERVICES.

    Expenses $10,191,000 · Grants $10,191,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • SHAE HOPKINS

    DIRECTOR (AUTHORITY)

    Total calculated
    $418,977
    From this org
    $0
    From related orgs
    $278,675
    Other
    $140,302
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $278,675 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $127,898 related
    Nontaxable benefits
    $0 + $12,404 related
    Filer's total
    $0 + $418,977 related

  • NICK NICHOLSON

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JOHN S DOMASCHKO

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • KIMBERLY D PATTON

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • D R BALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MIRA S BALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ROBERT M BECK JR

    DIRECTOR (AUTHORITY)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DONNA MOORE CAMPBELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • VICKIE YATES BROWN GLISSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DAN GRIFFITH

    DIRECTOR (AUTHORITY)

    Total calculated
    $600
    From this org
    $0
    From related orgs
    $600
    Other
    $0
    Hours/week
    1 + 1 related

  • ALICE K HOUSTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • BILL JONES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MICHAEL A OWSLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • HILMA PRATHER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MELANIE SIMPSON-CONLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • WILLIAM T YOUNG JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DONOVAN BLACKBURN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • SEAN MESTAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MICHELE RIPLEY

    PRESIDENT

    Total calculated
    $167,759
    From this org
    $0
    From related orgs
    $143,620
    Other
    $24,139
    Hours/week
    37.5 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $143,620 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $14,383 related
    Nontaxable benefits
    $0 + $9,756 related
    Filer's total
    $0 + $167,759 related

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

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
29 October 2024
IRS schema version
2023v5.1
Source object
202443049349301124

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