Kentucky Association For Academic Competition Inc
- Assets
- $839.9k
- Revenue
- $649.7k
- Investments
- $0.0
- Employees
- 7
- Location
- Frankfort, KY
- Founding
- 03/1986
- Data as of
- 06/2022
- EIN
- 61-1087843
Organization Overview
Kentucky Association For Academic Competition Inc is located in Frankfort, KY. The organization was established in 1986. As of 06/2022, Kentucky Association For Academic Competition Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Association For Academic Competition Inc 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 06/2022, Kentucky Association For Academic Competition Inc generated $649.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $667.6k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL ADVANCEMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION CONDUCTS STATEWIDE ACADEMIC COMPETITIONS FOR PRIMARY AND SECONDARY SCHOOLS; CONDUCTS PROBLEM-SOLVING COMPETITIONS THAT ALLOWS STUDENTS TO DEVELOP CREATIVE SKILLS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeremy Krug President | OfficerTrustee | 1 | $0 |
Kirk Barnett Vice President | OfficerTrustee | 1 | $0 |
Freddie Napier Clerk | OfficerTrustee | 1 | $0 |
Brenda Porter Secretary | Officer | 0 | $0 |
Rodney Holt Board Member | Trustee | 1 | $0 |
Sara Hardy Board Member | Trustee | 1 | $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 | $10,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,000 |
| Total Program Service Revenue | $636,846 |
| Investment income | $2,838 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $649,684 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $196,514 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $50,694 |
| Payroll taxes | $14,620 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,350 |
| 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 | $9,982 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,299 |
| Travel | $79 |
| 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 | $15,731 |
| Insurance | $8,704 |
| All other expenses | $79,576 |
| Total functional expenses | $667,630 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $464,028 |
| Savings and temporary cash investments | $214,324 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,260 |
| 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 | $1,964 |
| Net Land, buildings, and equipment | $138,371 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $839,947 |
| Accounts payable and accrued expenses | $9,958 |
| Grants payable | $0 |
| Deferred revenue | $63,300 |
| 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 | $73,258 |
| Net assets without donor restrictions | $766,689 |
| 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 | $839,947 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Kentucky Association For Academic Competition Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Honorable Order Of Kentucky Colonels Inc Louisville, KY PURPOSE: KY TORNADO RELIEF | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mathcounts Foundation Alexandria, VA | $6,563,497 | $3,956,274 |
Wonderscope Inc Kansas City, MO | $14,573,025 | $4,046,890 |
Center For Arts-Inspired Learning Cleveland, OH | $2,478,717 | $1,867,125 |
Kentucky Association For Academic Competition Inc Frankfort, KY | $839,947 | $649,684 |
Project Education Plus Chicago, IL | $6,294 | $233,089 |
Power Of The Pen North Canton, OH | $341,849 | $283,500 |
Students For Other Students Inc Toledo, OH | $111,036 | $0 |