Friends Of Kentucky Theatre, operating under the name Friends of the Kentucky Theatre Inc, is located in Lexington, KY. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Friends of the Kentucky Theatre Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends of the Kentucky Theatre Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE KENTUCKY THEATRE IS A HISTORIC BUILDING IN DOWNTOWN LEXINGTON, KY, THAT HAD FALLEN INTO DISUSE AND DISREPAIR. PURCHASED BY THE CITY OF LEXINGTON, THE FRIENDS OF THE KENTUCKY THEATRE INC IS A NONPROFIT TASKED WITH OVERSEEING THE RESTORATION, MAINTENANCE, OPERATION, AND FUTURE EXPANSION OF THE THEATER IN A PUBLIC-PRIVATE PARTNERSHIP WITH THE LEXINGTON FAYETTE URBAN COUNTY GOVERNMENT. THE THEATER IS USED BY THE CITY, BY NONPROFITS & NGOS, AND BY THE PUBLIC FOR A MYRIAD OF LOCAL PROGRAMS, EVENTS, ARTISTS & ENTERTAINERS, INCLUDING OFFERING MODERN & CLASSIC FILMS, LOCALLY WRITTEN & PRODUCED FILMS, HISTORICAL AND OTHER SPECIALTY FILMS NOT AVAILABLE IN COMMERCIAL THEATRES, AS WELL AS FILM SCHOOL PARTNERSHIPS WITH STUDENTS & FACULTY AT THE UNIVERSITY OF KENTUCKY. THE RESTORATION AND MAINTENANCE OF THE HISTORICAL LANDMARK PROPERTY, OVER 100 YEARS OLD, IS AN ONGOING LABOR OF LOVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
2022 ACCOMPLISHMENTS: THE KENTUCKY THEATRE CELEBRATED ITS 100TH ANNIVERSARY IN 2022. THAT'S A MAJOR ACCOMPLISHMENT FOR ANY THEATER AND ESPECIALLY FOR AN INDEPENDENT, ART-HOUSE CINEMA, WHICH MUST COMPETE WITH STREAMING SERVICES AVAILABLE ANY TIME DAY OR NIGHT. BUT, FOR A CENTURY, THE KENTUCKY HAS BEEN MORE THAN JUST A MOVIE THEATER. IT'S A PLACE WHERE PEOPLE COME TOGETHER TO CREATE MEMORIES, SHARE EXPERIENCES, AND CONNECT WITH EACH OTHER. WE'VE HOSTED SOME OF THE MOST BELOVED FILMS OF ALL TIME, LIVE PERFORMANCES, EDUCATIONAL EVENTS, AND COMMUNITY GATHERINGS. OUR PATRONS HAVE "TRAVELED" AROUND THE WORLD, LAUGHED, CRIED, AND EVEN FALLEN IN LOVE. HERE ARE SOME OF THE THINGS THAT WE ACCOMPLISHED IN 2022: LESS THAN ONE YEAR AFTER REOPENING FOLLOWING THE COVID PANDEMIC, THE KENTUCKY THEATRE APPLIED FOR AND RECEIVED 501(C)(3) NONPROFIT STATUS. THE KENTUCKY THEATRE SCREENED MORE THAN 200 FILMS IN 2022, INCLUDING FOREIGN AND FEATURE FILMS, OSCAR-NOMINATED SHORTS, DOCUMENTARIES, AND DEBUTS OF FILMS BY LOCAL AND REGIONAL FILMMAKERS. THE KENTUCKY THEATRE IS THE ONLY CINEMA IN CENTRAL KENTUCKY FOCUSED ON THE SCREENING OF INDEPENDENT AND ART FILM, AND THE VAST MAJORITY OF FILMS SCREENED IN 2022 WERE AVAILABLE TO THE PUBLIC ONLY BECAUSE THEY WERE SHOWN AT THE KENTUCKY THEATRE. IN 2022 THE KENTUCKY THEATRE LAUNCHED ITS BRAND-NEW MEMBERSHIP PROGRAM. THIS PROGRAM OFFERS PATRONS DISCOUNTS ON FILMS AND CONCESSIONS, PROVIDES A VEHICLE FOR CAPITAL GROWTH, AND CREATES AN ENHANCED SENSE OF CUSTOMER "OWNERSHIP". THE KENTUCKY INSTALLED A MODERN, COMPUTERIZED POINT-OF-SALES SYSTEM (PREVIOUS FOR-PROFIT MANAGEMENT RELIED UPON A NON-COMPUTERIZED CASH REGISTER SYSTEM). THIS SYSTEM WAS ESSENTIAL TO THE CREATION OF OUR MEMBERSHIP PROGRAM, OFFERS PATRONS THE CONVENIENCE OF ONLINE PURCHASES, AND MAKES FOR FULLY TRANSPARENT FINANCIAL REPORTING TO THE LEXINGTON FAYETTE URBAN COUNTY GOVERNMENT, THE OWNER OF THE KENTUCKY THEATRE BUILDING. BEGINNING WITH OUR MANAGEMENT TENURE IN 2022, WE PLACED A FAR GREATER EMPHASIS ON OUTREACH AND MARKETING THAN HAD BEEN THE PRACTICE OF THE PREVIOUS FOR-PROFIT MANAGEMENT COMPANY. OUR BRAND-NEW NEWSLETTER GREW FROM ZERO TO MORE THAN 1,500 SUBSCRIBERS IN LESS THAN A YEAR. AND OUR SOCIAL MEDIA ACCOUNTS, ALSO STARTED FROM SCRATCH, HAD MORE THAN 7.500 FOLLOWERS BY THE END OF 2022. OUR ATTENDANCE IS RETURNING TO PRE-PANDEMIC LEVELS AND, OF EQUAL IMPORTANCE, NEW PEOPLE ARE DISCOVERING US EVERY DAY, ESPECIALLY YOUNGER PATRONS, THE CINEPHILES OF THE FUTURE. WE BELIEVE THIS IS A CONSEQUENCE OF OUR IMPROVED MARKETING AND THE EXTRA ATTENTION WE PAY TO CREATIVE EVENT PLANNING RELATED TO THE FILMS WE SCREEN. WE'VE GREATLY EXPANDED THE VARIETY OF OUR FILM AND EVENT PROGRAMMING IN 2022, WITH NEW, CURATED FILM SERIES LIKE FREAKY FRIDAYS (A MONTHLY DEEP DIVE INTO THE WORLD OF CULT FILM), CHARACTERFEST (A SERIES EXPLORING THE WORK OF FAMOUS AND NOT-SO-FAMOUS CHARACTER ACTORS) AND ART ON SCREEN (A SERIES PAIRING SPEAKERS FROM THE ART WORLD WITH NARRATIVE AND DOCUMENTARY FILMS FOCUSED ON THE VISUAL ARTS AND ARTISTS) AND FILM/LIVE MUSIC EVENTS LIKE NOSFERATU WITH LIVE ORGAN ACCOMPANIMENT AND RIGHT IN THE EYE, A UNIQUE FILM AND LIVE MUSIC EXPERIENCE BROUGHT HERE ALL THE WAY FROM FRANCE THAT FOCUSED ON THE WORK OF GEORGE MELIÉS, A PIONEER OF CINEMA. THESE EVENTS AND SERIES, AND OTHERS LIKE THEM THAT FOCUS ON THE BEST IN INDEPENDENT CINEMA, ARE AVAILABLE NOWHERE ELSE IN CENTRAL KENTUCKY. WE'RE CONTINUING THE GREAT TRADITIONS OF THE HISTORIC KENTUCKY THEATRE, BUT WITH RENEWED ENERGY AND CREATIVITY. OUR SUMMER CLASSICS FILM SERIES SAW SOLD-OUT AUDIENCES. OUR ROSA GODDARD INTERNATIONAL FILM FESTIVAL AND OTHER CURATED FILM SERIES WERE ENHANCED BY PAIRING EXPERT SPEAKERS WITH EACH FILM SCREENING. IN 2022, WE BEGAN PLANNING FOR THE 2023 TWELVE LIONS FILM FESTIVAL, LEXINGTON' FIRST AND ONLY COMPETITIVE INTERNATIONAL FILM FESTIVAL. WE ALSO BEGAN PLANNING FOR THE ADDITION OF A MICRO-CINEMA TO OUR THEATER COMPLEX. WHEN COMPLETED (OUR TARGET DATE IS LATE 2024), THIS INTIMATE SCREENING ROOM WILL ALLOW US TO PROGRAM AN EVEN GREATER VARIETY OF INDEPENDENT AND REPERTORY FILM.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lisa Meek Board Chair | OfficerTrustee | 10 | $0 |
Bradford Queen Treasurer | OfficerTrustee | 2 | $0 |
Anita Courtney Secretary | OfficerTrustee | 2 | $0 |
Ashish Patel Director | Trustee | 1 | $0 |
Raymond DE Luca Director | Trustee | 1 | $0 |
Stephanie Fitch Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $100 |
Membership dues | $27,670 |
Fundraising events | $3,098 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $89,572 |
Noncash contributions included in lines 1a–1f | $12,845 |
Total Revenue from Contributions, Gifts, Grants & Similar | $120,440 |
Total Program Service Revenue | $1,046,546 |
Investment income | -$1,239 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $15,471 |
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 | $6,159 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,204,624 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $8,975 |
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. | $34,423 |
Compensation of current officers, directors, key employees. | $3,442 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $103,992 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $13,662 |
Fees for services: Management | $140 |
Fees for services: Legal | $770 |
Fees for services: Accounting | $14,750 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $87 |
Fees for services: Other | $7,992 |
Advertising and promotion | $1,829 |
Office expenses | $786,083 |
Information technology | $2,544 |
Royalties | $0 |
Occupancy | $51,859 |
Travel | $59 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $150 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,008 |
Insurance | $10,501 |
All other expenses | $53,939 |
Total functional expenses | $1,092,763 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $132,236 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $6,422 |
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 | $15,458 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $17,400 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $171,516 |
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 | $6,801 |
Total liabilities | $6,801 |
Net assets without donor restrictions | $164,715 |
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 | $171,516 |