Kentucky Golf Foundation
- Assets
- $1.3m
- Revenue
- $842.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 08/2003
- Data as of
- 12/2021
- EIN
- 02-0661784
Organization Overview
Kentucky Golf Foundation is located in Louisville, KY. The organization was established in 2003. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Golf Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Kentucky Golf Foundation generated $842.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $566.5k during the year ending 12/2021. While expenses have increased by 5.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPACT KENTUCKY'S YOUTH, MILITARY AND THOSE OF DIVERSITY USING GOLF AS A TOOLKIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH GOLF, INCLUDING YOUTH ON COURSE AND KENTUCKY PGA JUNIOR TOUR - TO PROMOTE AND ADVANCE THE GAME OF GOLF IN KENTUCKY AND PROVIDE ACCESS TO LIFE CHANGING OPPORTUNITIES THROUGH GOLF.
KENTUCKY GOLF HOUSE MUSEUM AND HALL OF FAME - TO SUPPORT THESE FACILITIES AND SERVICES TO HONOR INDIVIDUALS IN KENTUCKY WITH SIGNIFICANT ACHIEVEMENTS AND ACCOMPLISHMENTS IN VARIOUS AREAS OF GOLF.
PGA HOPE PROGRAM - TO PROVIDE GOLF AS A THERAPEUTIC REHABILITATION TOOL FOR ALL MILITARY VETERANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Thompson Secretary | OfficerTrustee | 1 | $3,465 |
Dean Terry Director | Trustee | 1 | $1,815 |
Craig Heibert Vice President | OfficerTrustee | 1 | $0 |
Dave Nicholas President | OfficerTrustee | 1 | $0 |
Jeff Adkerson Executive Director | Officer | 1 | $0 |
Phil Armbruster Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $13,717 |
| Fundraising events | $65,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $404,222 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $482,939 |
| Total Program Service Revenue | $338,384 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,511 |
| Net Income from Fundraising Events | $26,281 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $842,093 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,843 |
| Grants and other assistance to domestic individuals. | $11,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,210 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,240 |
| Office expenses | $2,790 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,330 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $282 |
| Interest | $15,441 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,187 |
| Insurance | $6,500 |
| All other expenses | $40,420 |
| Total functional expenses | $566,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $455,068 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,741 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,508 |
| Net Land, buildings, and equipment | $871,464 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,342,781 |
| Accounts payable and accrued expenses | $26,532 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,821 |
| Total liabilities | $42,353 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,300,428 |
| Total liabilities and net assets/fund balances | $1,342,781 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Kentucky Golf Foundation has recieved totaling $10,053.
| Awarding Organization | Amount |
|---|---|
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL SUPPORT | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $53 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Crosswater Canyon Inc Petersburg, KY | $131,093,453 | $43,029,126 |
Rock And Roll Hall Of Fame And Museum Inc Cleveland, OH | $155,983,812 | $52,609,977 |
National Football Museum Inc Canton, OH | $45,241,637 | $30,879,205 |
Country Music Foundation Inc Nashville, TN | $103,507,163 | $14,152,198 |
Cincinnati Museum Center Cincinnati, OH | $282,646,725 | $49,474,377 |
Johnny Morris Wonders Of Wildlife Foundation Springfield, MO | $84,645,334 | $34,583,902 |
Adler Planetarium Chicago, IL | $62,060,707 | $24,242,958 |
National Corvette Museum Foundation Inc Bowling Green, KY | $80,229,990 | $15,403,313 |
Mariners Museum Newport News, VA | $159,780,245 | $10,021,200 |
Eiteljorg Museum Of American Indians And Western Art Inc Indianapolis, IN | $95,582,001 | $21,664,008 |
Tennessee Golf Foundation Franklin, TN | $24,594,928 | $7,116,069 |
Discovery Park Of America Inc Union City, TN | $88,157,973 | $11,219,580 |