Civic Intelligence

Kentucky Cobras Inc.

EIN 30-1032352 • 501(c)3 • Florence, KY

Pub. 78 Eligible990-N Coverage

Profile

The organization raises funds to support community impact programs that further its mission to educate, inspire and encourage children and young adults throughout the commonwealth of kentucky primarily through training and team competition in the sport of basketball.

1680 Trace DriveFlorence, KY 41015

kentuckycobras.leagueapps.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

89th percentile

0.68x

Higher debt load relative to assets than 89% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

60th percentile

0.04x

Higher debt load relative to revenue than 60% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

35th percentile

-2.1%

Higher net margin than 35% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

65th percentile

$42,925

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 7.3% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

58th percentile

6.5%

Faster asset growth than 58% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

69th percentile

24%

Faster revenue growth than 69% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$36,715

Up $2,248 (+6.5%) from 2022

Liabilities

Up

$25,046

Up $14,583 (+139%) from 2022

Net Assets

Down

$11,669

Down $12,335 (-51%) from 2022

Operations
Liabilities / Revenue60th percentileNet Margin35th percentile

Revenue

Up

$587,272

Up $113,349 (+24%) from 2022

Expenses

Up

$599,607

Up $136,760 (+30%) from 2022

Net Income

Down

-$12,335

Down $23,411 (-211%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth58th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60K$40K$20K$0Assets 2020: $40,821Net Assets 2020: $40,8212020Assets 2021: $27,896Liabilities 2021: $12,429Net Assets 2021: $15,4672021Assets 2022: $34,467Liabilities 2022: $10,463Net Assets 2022: $24,0042022Assets 2023: $36,715Liabilities 2023: $25,046Net Assets 2023: $11,6692023

Highlighted filing

2023

Assets$36,715
Liabilities$25,046
Net Assets$11,669
Open 2023 Filing

Operations Trend

Revenue Growth69th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KRevenue 2020: $171,585Expenses 2020: $143,371Net Income 2020: $28,2142020Revenue 2021: $450,667Expenses 2021: $449,286Net Income 2021: $1,3812021Revenue 2022: $473,923Expenses 2022: $462,847Net Income 2022: $11,0762022Revenue 2023: $587,272Expenses 2023: $599,607Net Income 2023: -$12,3352023

Highlighted filing

2023

Revenue$587,272
Expenses$599,607
Net Income-$12,335
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$36,715
Liabilities
$25,046
Net assets
$11,669
Revenue
$587,272
Expenses
$599,607
Net income
-$12,335
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.37$0.25$0.12$5.87$6.00$0.12
2022Detailed filing. Detailed filing data is available for this year.$0.34$0.10$0.24$4.74$4.63$0.11
2021Detailed filing. Detailed filing data is available for this year.$0.28$0.12$0.15$4.51$4.49$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.41$0.41$1.72$1.43$0.28
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 7, 2024
Return Version
2023v5.0
Gross Receipts
$587,272
Mission and Program Overview

Mission

The organization raises funds to support community impact programs that further its mission to educate, inspire and encourage children and young adults throughout the commonwealth of kentucky primarily through training and team competition in the sport of basketball.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$28,456$36,715▲ $8,259
Inventories for Sale or Use$5,312--
Accounts Receivable$699--
Total Assets$34,467$36,715▲ $2,248
Liabilities
Accounts Payable and Accrued Expenses$10,463$15,280▲ $4,817
Other Liabilities-$9,766-
Total Liabilities$10,463$25,046▲ $14,583
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$24,004$11,669▼ $12,335
Total Net Assets Fund Balance$24,004$11,669▼ $12,335
Total Liabilities and Net Assets / Fund Balance$34,467$36,715▲ $2,248
Compensation and Service Providers
Top Officer Pay65th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ty SimpsonPresidentFT$42,925$42,925

Board Members and Trustees

NameTitle
Chris ClemonsBoard Member
Chuck KinneyBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$583,926
Investment Income
$0
Other Revenue
$3,346
Change in Net Assets
$-12,335
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$556,682
Salaries, Compensation, and Employee Benefits$42,925
Total Fundraising Expense$10,731
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$98,016$32,672-$130,688
Other Salaries and Wages$21,463$10,731$10,731$42,925
Other Expenses$27,723$3,080-$30,803
All Other Expenses$24,407$1,733-$26,140
Fees for Services Accounting$4,121$1,374-$5,495
Travel$4,016$1,339-$5,355
Advertising$3,296$1,099-$4,395
Office Expenses$2,331--$2,331
Total Functional Expenses$536,848$52,028$10,731$599,607
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Merchmake$9,766
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Governing board reviews the tax return prior to it being filed.”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Kentucky Cobras Inc
EIN
30-1032352
Phone
8592616800
Address
1680 TRACE DRIVE, FLORENCE, KY 41015

Signing Officer

Name
Ty Simpson
Title
President
Phone
8592616800
Signed
2024-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ty Simpson
Formed
2018
Legal Domicile
Ky
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Keith & Associates Pllc
Address
715 BAKEWELL ST, COVINGTON, KY 41011-1227
Preparer
R Frederick Keith
Phone
8592616800
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The organization raises funds to support community impact programs that further its mission to educate, inspire and encourage children and young adults throughout the commonwealth of kentucky primarily through training and team competition in the sport of basketball.”

Form 990, Part IX, Line 11G

“Contractor 98,016 32,672 0”

Form 990, Part XI, Line 9

“PRIOR-YEAR ADJUSTMENT 0”

Raw XML Appendix313 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING BOARD REVIEWS THE TAX RETURN PRIOR TO IT BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0HTTPS://KENTUCKYCOBRAS.LEAGUEAPPS.COM/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TY SIMPSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08592616800
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KENTUCKY COBRAS INC
ReturnHeader/Filer/BusinessNameControlTxt0KENT
ReturnHeader/Filer/EIN0301032352
ReturnHeader/Filer/PhoneNum08592616800
ReturnHeader/Filer/USAddress/AddressLine1Txt01680 TRACE DRIVE
ReturnHeader/Filer/USAddress/CityNm0FLORENCE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd041015
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0352349774
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KEITH & ASSOCIATES PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0715 BAKEWELL ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COVINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0410111227
ReturnHeader/PreparerPersonGrp/PhoneNum08592616800
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0R FREDERICK KEITH
ReturnHeader/ReturnTs02024-05-30T09:30:46-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0TY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SIMPSON
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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