Kentucky Restaurant Association Inc
- Assets
- $804.5k
- Revenue
- $531.4k
- Investments
- $0.0
- Employees
- 5
- Location
- Louisville, KY
- Founding
- 02/1984
- Data as of
- 06/2024
- EIN
- 61-0620236
Organization Overview
Kentucky Restaurant Association Inc is located in Louisville, KY. The organization was established in 1984. According to its NTEE Classification (K99) the organization is classified as: Food, Agriculture & Nutrition N.E.C., under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 06/2024, Kentucky Restaurant Association Inc employed 5 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Kentucky Restaurant Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2024, Kentucky Restaurant Association Inc generated $531.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $454.5k during the year ending 06/2024. While expenses have increased by 1.3% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION OF THE RESTAURANT INDUSTRY IN KENTUCKY THROUGH EDUCATION, EXHIBITS, PROMOTIONS, AND TRAINING
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF THE RESTAURANT INDUSTRY IN KENTUCKY THROUGH EDUCATION, EXHIBITS, PROMOTIONS, AND TRAINING
PROMOTION OF THE RESTAURANT INDUSTRY IN KENTUCKY THROUGH EDUCATION, EXHIBITS, PROMOTIONS, AND TRAINING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacy Roof Executive Di | Officer | 40 | $101,798 |
Ray Watkins Chairman | Trustee | $0 | |
David Danielson Chairman Ele | Trustee | $0 | |
Rick Price Treasurer | Officer | $0 | |
Joe Bristow Active Direc | Trustee | $0 | |
David Carroll Active Direc | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $286,926 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,581 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $289,507 |
| Total Program Service Revenue | $209,292 |
| Investment income | $3,734 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $28,892 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $531,425 |
| 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. | $101,798 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $124,676 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,307 |
| Payroll taxes | $17,122 |
| Fees for services: Management | $775 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,385 |
| 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 | $42,242 |
| Information technology | $21,350 |
| Royalties | $0 |
| Occupancy | $26,800 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,693 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,890 |
| All other expenses | $9,260 |
| Total functional expenses | $454,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $609,081 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,765 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $511 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $192,124 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $804,481 |
| Accounts payable and accrued expenses | $9,958 |
| Grants payable | $0 |
| Deferred revenue | $70,013 |
| 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 | $12 |
| Total liabilities | $79,983 |
| Net assets without donor restrictions | $724,498 |
| 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 | $804,481 |