Form 990 for tax year 2022

Filed by KENTUCKY CHAMBER FOUNDATION INC.

Totals

Total revenue: $2,364,449
Total expenses: $2,519,130
Contributions and grants received: $1,692,790
Grants paid: $2,930
Program service revenue: $671,659
Investment income: $0
Other revenue: $0
Total assets, end of year: $1,373,660
Total liabilities, end of year: $162,440
Net assets or fund balances, end of year: $1,211,220
Program services expenses (Part IX): $2,243,920
Management and general expenses: $275,210
Fundraising expenses: $0
Program service expenses (Part III): $2,243,920

Program services were 89.1% 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

$1,692,790
2a · Program service revenue: Kentucky State Contracts

total $670,939 · related or exempt $670,939
2b · Program service revenue: Miscellaneous Revenue

total $720 · related or exempt $720
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6c · Rental income or loss

real property $0 · personal property $0
7c · Gain or loss

securities $0 · other assets $0
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $2,930 · program services $2,930
7 · Other salaries and wages

total $1,249,360 · program services $1,249,360
9 · Other employee benefits

total $170,190 · program services $170,190
10 · Payroll taxes

total $95,450 · program services $95,450
11g · Fees: other

total $23,340 · program services $23,340 · management and general $0 · fundraising $0
12 · Advertising and promotion

total $55,560 · program services $55,560
13 · Office expenses

total $22,260 · program services $22,260
14 · Information technology

total $450 · program services $450
16 · Occupancy

total $13,890 · program services $13,890
17 · Travel

total $135,130 · program services $135,130
19 · Conferences, conventions and meetings

total $49,360 · program services $49,360
24a · Other expenses: KSR FLOOD RELEIF

total $335,000 · program services $335,000
24b · Other expenses: Admin Fees

total $275,210 · management and general $275,210
24c · Other expenses: All Other Expenses

total $75,290 · program services $75,290
24d · Other expenses: Due & Subscriptions

total $14,360 · program services $14,360
24e · All other expenses

total $1,350 · program services $1,350 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $0
2 · Savings and temporary cash investments

beginning of year $1,403,020 · end of year $1,305,350
3 · Pledges and grants receivable

beginning of year $13,140 · end of year $11,060
4 · Accounts receivable

beginning of year $127,148 · end of year $52,940
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
8 · Inventories for sale or use

beginning of year $0
9 · Prepaid expenses and deferred charges

beginning of year $0
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
11 · Investments: publicly traded securities

beginning of year $4,104 · end of year $4,310
12 · Investments: other securities

beginning of year $0
13 · Investments: program-related

beginning of year $0
14 · Intangible assets

beginning of year $0
15 · Other assets

beginning of year $0 · end of year $0
17 · Accounts payable and accrued expenses

beginning of year $181,711 · end of year $162,440
18 · Grants payable

beginning of year $0
19 · Deferred revenue

beginning of year $0
20 · Tax-exempt bond liabilities

beginning of year $0
21 · Escrow or custodial account liability

beginning 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
24 · Unsecured notes and loans payable

beginning of year $0
25 · Other liabilities

beginning of year $0 · end of year $0
27 · Net assets without donor restrictions

beginning of year -$125,798 · end of year -$104,945
28 · Net assets with donor restrictions

beginning of year $1,491,499 · end of year $1,316,165

Mission and programs · 2022

Mission

The Kentucky Chamber Foundation supports research, programs, and training initiatives that advance the economic and social well-being of the Commonwealth of Kentucky and its citizens.

THE KENTUCKY CHAMBER FOUNDATION (KCF) WAS CREATED BY THE KENTUCKY CHAMBER OF COMMERCE (KCC) TO FURTHER ITS MISSION OF CREATING AND SUPPORTING A COMPETITIVE BUSINESS CLIMATE IN KENTUCKY. KCF HAS COMMITTED TO DEVELOPING PROGRAMS AND SERVICES IN LINE WITH THE KCC'S NEW AGENDA FOR KENTUCKY PROJECT THROUGH ITS NEW AGENDA CAMPAIGN. DURING FY22, KENTUCKY CHAMBER FOUNDATION ASSISTED IN DISASTER RELIEF EFFORTS FROM THE KENTUCKY TORNADOES AND FLOODING WITH FUNDS COLLECTED AND THEN DISTRIBUTED TO KENTUCKY HABITAT FOR HUMANITY AND VOLUNTEERS OF AMERICA MID-STATES. KCF'S PROGRAMS INCLUDE: LEADERSHIP INSTITUTE FOR SCHOOL PRINCIPALS KENTUCKY SCHOOL PRINCIPALS, NEW IN THEIR CAREERS, ATTEND EXECUTIVE LEVEL LEADERSHIP TRAINING AT NO COST TO THEM (VALUED AT $9,000 EACH). TO DATE, THE LEADERSHIP INSTITUTE HAS TRAINED MORE THAN 300 PRINCIPALS WITH DONATIONS OF MORE THAN $3 MILLION FROM KENTUCKY'S BUSINESS COMMUNITY. THE KENTUCKY CHAMBER WORKFORCE CENTER THE WORKFORCE CENTER CONVENES EMPLOYERS, EDUCATORS/PROVIDERS, AND PUBLIC SECTOR ENTITIES TO ENSURE WORKFORCE AND EDUCATION EFFORTS ARE EMPLOYER DRIVEN. EDUCATION EFFORTS FOUNDATION EFFORTS FOCUS ON MIDDLE SCHOOL CIVICS EDUCATION THROUGH THE STATEWIDE 'CIVICS BEE' PROGRAM WHICH IS A PARTNERSHIP WITH THE U.S. CHAMBER OF COMMERCE. IN ADDITION, THE FOUNDATION IS WORKING TO CONNECT STUDENTS & BUSINESSES TO TEACH ABOUT CAREER OPPORTUNITIES THROUGH THE 'BUS-TO-BUSINESS' PROGRAM. WORKFORCE DEVELOPMENT INITATIVES THE FOUNDATION ENTERED INTO CONTRACTS WITH THE STATE OF KENTUCKY REGARDING MULTIPLE WORKFORCE DEVELOPMENT INITIATIVES INCLUDING THE TALENT PIPELINE MANAGEMENT PROGRAM AND THE WORKFORCE CENTER PROGRAM. THE FOUNDATION PROVIDES VARIOUS ADMINISTRATIVE SERVICE AND SUPPORT TO MANAGE THESE INITIATIVES.

Expenses $2,243,920 · Grants $2,930 · Revenue $671,659

As filed on the 2022 return.

Listed in Part VII

ASHLI WATTS

PRESIDENT/CEO & SECRETARY

Total calculated

$428,910

From this org

$0

From related orgs

$398,712

Other

$30,198

Hours/week

1 + 38 related

Schedule J breakdown matched by us

Base

$0 + $343,635 related

Bonus

$0 + $51,585 related

Other

$0 + $3,492 related

Deferred

$0 + $19,652 related

Nontaxable benefits

$0 + $10,546 related

Filer's total

$0 + $428,910 related
CANDACE MCGRAW

PAST CHAIR

Total calculated

$0

Hours/week

1 + 1 related
CONRAD DANIELS

CHAIR

Total calculated

$0

Hours/week

1 + 1 related
ELIZABETH MCCOY

TREASURER

Total calculated

$0

Hours/week

1 + 1 related
ANNE-TYLER MORGAN

DIRECTOR

Total calculated

$0

Hours/week

1
DIERDRE LYONS

DIRECTOR

Total calculated

$0

Hours/week

1
HOLLIE SPADE

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
KEVIN SMITH

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
KEVIN SUTPHIN

DIRECTOR

Total calculated

$0

Hours/week

1
KIMBERLY HALBAUER

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
LES FUGATE

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
MARK GUILFOYLE

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
PAIGE MANKOVICH

DIRECTOR

Total calculated

$0

Hours/week

1
PATTIE DALE TYE

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
PAULA HANSON

DIRECTOR

Total calculated

$0

Hours/week

1
TALLEY RUSSELL

DIRECTOR

Total calculated

$0

Hours/week

1
WILLIAM SUMMERS

DIRECTOR

Total calculated

$0

Hours/week

1
WINSTON GRIFFIN

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 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

None.

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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation: COMPENSATION FOR THE ORGANIZATION'S CEO IS PAID BY THE KENTUCKY CHAMBER OF COMMERCE, INC. (KCC), A RELATED TAX-EXEMPT ORGANIZATION. KCC UTILIZES THE FOLLOWING METHODS TO DETERMINE COMPENSATION FOR THE CEO: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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

No itemized grants to organizations 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.

KENTUCKY CHAMBER OF COMMERCE INC

501(c)(6) · MEMBERSHIP ORGANIZATION · KY · controlled entity

Directly controlled by NA
KENTUCKY CHAMBER ADVOCACY COMMITTEE INC

501(c)(4) · ECONOMIC WELFARE INITIATIVES · KY · controlled entity

Directly controlled by KENTUCKY CHAMBER OF COMMERCE INC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

KENTUCKY CHAMBER WORKFORCE CENTER LLC

EDUCATION AND WORKFORCE INITIATIVES · KY · income $341,290 · assets $0

Directly controlled by KENTUCKY CHAMBER FOUNDATION INC
LEADERSHIP INSTITUTE FOR SCHOOL PRINCIPALS LLC

LEADERSHIP TRAINING · KY · income $600,500 · assets $0

Directly controlled by KENTUCKY CHAMBER FOUNDATION INC

Related corporations and trusts

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

CHAMBER BUSINESS SOLUTIONS

C Corporation · BUSINESS SUPPORT SERVICES · KY · share of income $0 · share of assets $0 · controlled entity

Directly controlled by KENTUCKY CHAMBER OF COMMERCE
CHAMBER BUSINESS SOLUTIONS TRUST

Trust · EMPLOYEE WELFARE BENEFIT PLAN · KY · share of income $0 · share of assets $0

Directly controlled by KENTUCKY CHAMBER OF COMMERCE

Provenance

Return type: form_990
Tax year: 2022
Filed: 15 August 2024
IRS schema version: 2022v5.0
Source object: 202422289349301317

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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