Historic Gardens Foundation
- Assets
- $2.2m
- Revenue
- $211.4k
- Investments
- $21.3k
- Employees
- 2
- Location
- Pikeville, KY
- Founding
- 07/2005
- Data as of
- 12/2022
- EIN
- 27-0097273
Organization Overview
Historic Gardens Foundation is located in Pikeville, KY. The organization was established in 2005. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Historic Gardens Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Historic Gardens 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 12/2022, Historic Gardens Foundation generated $211.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (32.0%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE INTERESTS IN THE HISTORICAL EVENTS OF PIKE COUNTY, KENTUCKY; TO PROMOTE THE ESTABLISHMENT OF A PARK IN PIKE COUNTY, KENTUCKY WITH BOTANICAL GARDEN AND ARBORETUM WITH MUSEUM FOR A REPOSITORY AND EXPOSITION OF HISTORICAL ARTIFACTS, MEMORABILIA AND OTHER ITEMS OF HISTORICAL, SOCIAL AND CULTURAL SIGNIFICANCE TO PIKE COUNTY, KENTUCKY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORIGINAL LOCATION OF 172 THIRD STREET; PIKEVILLE, KY FOR THE PHYSICAL LOCATION OF AN ELEPHANT MUSEUM WAS LOST IN A LAW SUITE SETTLEMENT. THIS LOCATION WAS REQUESTED BY ITEM IV, ITEM VII AND ITEM XIV OF CAROLYN CHILDERS LAST WILL AND TESTAMENT. CAROLYN CHILDERS LAST WILL AND TESTAMENT FUNDED THE FOUNDATION WITH THE HOPE OF A 172 THIRD STREET; PIKEVILLE, KY PHYSICAL LOCATION. AFTER MANY FAILED ATTEMPTS TO FIND A SIMULAR LOCATION, THE BOARD OF DIRECTORS HAS CHANGED COURSE FROM A PERMANENT LOCATION TO A CHARITABLE EVENTS OPERATION. THE FIRST PLANNED TRAVELING EXHIBIT IS WITH THE CHILDREN'S MUSEUM OF THE UPSTATE DURING 2021. IT WILL BE TITLED THE ELEPHANT WALK. THE CHILDREN'S MUSEUM OF THE UPSTATE HAS ALLOCATED 1,600+ SPUARE FEET OF EXHIBITION SPACE. ALSO UPCOMING IS GALLERY SPACE AT THE APPALACHIAN CENTER FOR THE ARTS EXHIBITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda F Hall Secretary Tr | OfficerTrustee | 30 | $225,000 |
Robert W Ramsey President | OfficerTrustee | 30 | $225,000 |
Emily Weakley Vice Preside | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,190 |
| Noncash contributions included in lines 1a–1f | $51,190 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $51,190 |
| Total Program Service Revenue | $0 |
| Investment income | $51,427 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,466 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $88,244 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $211,417 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $450,000 |
| Compensation of current officers, directors, key employees. | $450,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,753 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $400 |
| Fees for services: Accounting | $4,835 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $309 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $74,475 |
| Travel | $40 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,767 |
| All other expenses | $0 |
| Total functional expenses | $564,579 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,359 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,071,885 |
| Investments—publicly traded securities | $1,037,654 |
| Investments—other securities | $21,286 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,176,184 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $2,176,184 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,176,184 |