Kentucky College Of Art And Design Inc
- Assets
- $5.0m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 39
- Location
- Louisville, KY
- Founding
- 05/2011
- Data as of
- 06/2023
- EIN
- 27-2232797
Organization Overview
Kentucky College Of Art And Design Inc, operating under the name Fka Kentucky School Of Art, is located in Louisville, KY. The organization was established in 2011. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2023, Fka Kentucky School Of Art employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fka Kentucky School Of Art 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 06/2023, Fka Kentucky School Of Art generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $3.3m during the year ending 06/2023. While expenses have increased by 13.3% per year over the past 8 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
THE KENTUCKY COLLEGE OF ART AND DESIGN PROMOTES A CREATIVE AND PRODUCTIVE LIFE THROUGH AN UNDERGRADUATE EDUCATION IN THE CONTEMPORARY ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDED IN 2009, KENTUCKY COLLEGE OF ART AND DESIGN IS PROUD OF ITS SUCCESS. CORE VALUES AND PRINCIPLES HAVE HELPED TO SHAPE THE INSTITUTION AND OUR WORK TOWARD A MISSION TO PROVIDE A TRANSFORMATIONAL EXPERIENCE FOR OUR STUDENTS. AS A BRAND-NEW INDEPENDENT COLLEGE LOOKING TO DEMONSTRATE THE VALUE OF THE ARTS TO SOCIETY, WE EMBRACE THE ABILITY OF THE ARTS TO REFLECT A GENERATION'S INTERESTS AND OPINIONS. THIS COLLEGE PLACES THE MEANING OF PRACTICE AND THE ARTIST'S VOICE BESIDE THE SKILLS AND THE TOOLS WITH WHICH WE SPEAK.FROM OUR HISTORIES TO NEW TECHNOLOGIES, FROM OUR CRAFTS AND MATERIAL PRACTICES TO A NEW DIGITAL WORLD OF THE VIRTUAL AND UNREAL, WE INVESTIGATE THE VERY ROOTS OF WHAT IT MEANS TO BE HUMAN IN A WIDE VARIETY OF WAYS. ARTISTS USE NOT ONLY INTUTION AND SPECULATION, BUT ALSO SPIRITUAL, EMOTIONAL, ANALYTICAL AND MATERIAL WAYS TO SEARCH FOR NEW KNOWLEDGE.IN NOVEMBER OF 2018, THE KENTUCKY COUNCIL ON POST SECONDARY EDUCATION GRANTED THE KENTUCKY COLLEGE OF ART AND DESIGN THE AUTORITY TO GRANT A BFA IN STUDIO ART.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Churchill G Davenport Chancellor | OfficerTrustee | 40 | $100,000 |
John Birnsteel Chair | OfficerTrustee | 1 | $0 |
Greg Pope Vice Chair | OfficerTrustee | 1 | $0 |
Todd Lowe Secretary | OfficerTrustee | 1 | $0 |
Philip Anderton Treasurer | OfficerTrustee | 1 | $0 |
Juliet Gray Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $190,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,839,778 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,029,778 |
| Total Program Service Revenue | $476,250 |
| Investment income | $3,407 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,458 |
| Net Gain/Loss on Asset Sales | $108,975 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,638,168 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $476,250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $496,023 |
| Compensation of current officers, directors, key employees. | $102,241 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $657,626 |
| Pension plan accruals and contributions | $108,541 |
| Other employee benefits | $152,357 |
| Payroll taxes | $561,128 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,436 |
| Fees for services: Accounting | $18,682 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $136,376 |
| Advertising and promotion | $39,776 |
| Office expenses | $46,835 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $358,760 |
| Travel | $53,715 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $58,299 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,798 |
| Insurance | $57,624 |
| All other expenses | $3,202 |
| Total functional expenses | $3,322,202 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $504 |
| Savings and temporary cash investments | $571,138 |
| Pledges and grants receivable | $4,339,521 |
| Accounts receivable, net | $2,864 |
| 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 | $75,359 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,989,386 |
| Accounts payable and accrued expenses | $1,650 |
| 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 | $5,716 |
| Total liabilities | $7,366 |
| Net assets without donor restrictions | $3,856,232 |
| Net assets with donor restrictions | $1,125,788 |
| 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 | $4,989,386 |