Kentucky Golf Foundation
- Assets
- $1.5m
- Revenue
- $909.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 08/2003
- Data as of
- 12/2023
- 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 12/2023, Kentucky Golf Foundation generated $909.4k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $808.6k during the year ending 12/2023. While expenses have increased by 5.0% per year over the past 6 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
2023
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 |
|---|---|---|---|
Phil Armbruster Director | Trustee | 1 | $0 |
Chad Martin Director | Trustee | 1 | $0 |
Jimmy Kirchdorfer Director | Trustee | 1 | $0 |
Jim Thompson Director | Trustee | 1 | $2,475 |
Tom Walters Director | Trustee | 1 | $0 |
Danny Baron President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $34,437 |
| Fundraising events | $77,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $271,714 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $383,151 |
| Total Program Service Revenue | $482,262 |
| Investment income | $5,700 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $38,285 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $909,398 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,192 |
| Grants and other assistance to domestic individuals. | $9,935 |
| 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 | $4,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,545 |
| Office expenses | $2,664 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,250 |
| Travel | $2,082 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $579 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,996 |
| Insurance | $6,500 |
| All other expenses | $66,026 |
| Total functional expenses | $808,562 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $578,716 |
| Savings and temporary cash investments | $101,732 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $300 |
| 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 | $1,250 |
| Net Land, buildings, and equipment | $801,284 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,483,282 |
| Accounts payable and accrued expenses | $48,171 |
| 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 | $460 |
| Total liabilities | $48,631 |
| 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 | $1,434,651 |
| Total liabilities and net assets/fund balances | $1,483,282 |