Kentucky Chamber Foundation Inc
- Assets
- $1.4m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Frankfort, KY
- Founding
- 01/1997
- Data as of
- 09/2023
- EIN
- 61-1284992
Organization Overview
Kentucky Chamber Foundation Inc is located in Frankfort, KY. The organization was established in 1997. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Chamber Foundation 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 09/2023, Kentucky Chamber Foundation Inc generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.4% each year . All expenses for the organization totaled $2.5m during the year ending 09/2023. While expenses have increased by 17.9% 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 CHAMBER FOUNDATION SUPPORTS RESEARCH, PROGRAMS, AND TRAINING INITIATIVES THAT ADVANCE THE ECONOMIC AND SOCIAL WELL-BEING OF THE COMMONWEALTH OF KENTUCKY AND ITS CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE KENTUCKY CHAMBER FOUNDATION (KCF) WAS CREATED BY THE KENTUCKY CHAMBER OF COMMERCE (KCC) TO FURTHER ITS MISSION OF CREATING AND SUPPORTING A COMPETITIVE BUSINESS CLIMATE IN KENTUCKY. KCF HAS COMMITTED TO DEVELOPING PROGRAMS AND SERVICES IN LINE WITH THE KCC'S NEW AGENDA FOR KENTUCKY PROJECT THROUGH ITS NEW AGENDA CAMPAIGN. DURING FY22, KENTUCKY CHAMBER FOUNDATION ASSISTED IN DISASTER RELIEF EFFORTS FROM THE KENTUCKY TORNADOES AND FLOODING WITH FUNDS COLLECTED AND THEN DISTRIBUTED TO KENTUCKY HABITAT FOR HUMANITY AND VOLUNTEERS OF AMERICA MID-STATES. KCF'S PROGRAMS INCLUDE: LEADERSHIP INSTITUTE FOR SCHOOL PRINCIPALS KENTUCKY SCHOOL PRINCIPALS, NEW IN THEIR CAREERS, ATTEND EXECUTIVE LEVEL LEADERSHIP TRAINING AT NO COST TO THEM (VALUED AT $9,000 EACH). TO DATE, THE LEADERSHIP INSTITUTE HAS TRAINED MORE THAN 300 PRINCIPALS WITH DONATIONS OF MORE THAN $3 MILLION FROM KENTUCKY'S BUSINESS COMMUNITY. THE KENTUCKY CHAMBER WORKFORCE CENTER THE WORKFORCE CENTER CONVENES EMPLOYERS, EDUCATORS/PROVIDERS, AND PUBLIC SECTOR ENTITIES TO ENSURE WORKFORCE AND EDUCATION EFFORTS ARE EMPLOYER DRIVEN. EDUCATION EFFORTS FOUNDATION EFFORTS FOCUS ON MIDDLE SCHOOL CIVICS EDUCATION THROUGH THE STATEWIDE 'CIVICS BEE' PROGRAM WHICH IS A PARTNERSHIP WITH THE U.S. CHAMBER OF COMMERCE. IN ADDITION, THE FOUNDATION IS WORKING TO CONNECT STUDENTS & BUSINESSES TO TEACH ABOUT CAREER OPPORTUNITIES THROUGH THE 'BUS-TO-BUSINESS' PROGRAM. WORKFORCE DEVELOPMENT INITATIVES THE FOUNDATION ENTERED INTO CONTRACTS WITH THE STATE OF KENTUCKY REGARDING MULTIPLE WORKFORCE DEVELOPMENT INITIATIVES INCLUDING THE TALENT PIPELINE MANAGEMENT PROGRAM AND THE WORKFORCE CENTER PROGRAM. THE FOUNDATION PROVIDES VARIOUS ADMINISTRATIVE SERVICE AND SUPPORT TO MANAGE THESE INITIATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President/ceo & Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Past Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | 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 | $1,692,790 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,692,790 |
| Total Program Service Revenue | $671,659 |
| Investment income | $0 |
| 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 | $2,364,449 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,930 |
| 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 | $1,249,360 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $170,190 |
| Payroll taxes | $95,450 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,340 |
| Advertising and promotion | $55,560 |
| Office expenses | $22,260 |
| Information technology | $450 |
| Royalties | $0 |
| Occupancy | $13,890 |
| Travel | $135,130 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,360 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,350 |
| Total functional expenses | $2,519,130 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,305,350 |
| Pledges and grants receivable | $11,060 |
| Accounts receivable, net | $52,940 |
| 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 | $0 |
| Investments—publicly traded securities | $4,310 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,373,660 |
| Accounts payable and accrued expenses | $162,440 |
| 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 | $162,440 |
| Net assets without donor restrictions | -$104,945 |
| Net assets with donor restrictions | $1,316,165 |
| 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 | $1,373,660 |
Grants Awarded
Over the last fiscal year, Kentucky Chamber Foundation Inc has awarded $1,681,621 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
KENTUCKY HABITAT FOR HUMANITY PURPOSE: Kentucky Disaster Relief | $951,621 |
VOLUNTEERS OF AMERICA MID-STATES PURPOSE: Kentucky Disaster Relief | $700,000 |
CALDWELL CHAMBER OF COMMERCE PURPOSE: Kentucky Disaster Relief | $30,000 |