Civic Intelligence

Leadership Kentucky Foundation Inc

EIN 31-1096215 • 501(c)3 • Frankfort, KY

Profile

Broadens the perspectives of current and emerging leaders through experiential education that inspires them to advance kentucky.

464 Chenault RoadFrankfort, KY 40601

www.leadershipky.org

Siviq Scores

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

Liabilities / Assets

35th percentile

0.01x

Higher debt load relative to assets than 35% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

41st percentile

0.04x

Higher debt load relative to revenue than 41% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

78th percentile

27%

Higher net margin than 78% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

90th percentile

$209,435

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 18.1% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

77th percentile

18%

Faster asset growth than 77% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

49th percentile

6.7%

Faster revenue growth than 49% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$3,147,504

Up $482,941 (+18%) from 2023

Liabilities

Up

$44,801

Up $10,705 (+31%) from 2023

Net Assets

Up

$3,102,703

Up $472,236 (+18%) from 2023

Revenue

Up

$1,157,126

Up $72,204 (+6.7%) from 2023

Expenses

Up

$848,211

Up $11,758 (+1.4%) from 2023

Net Income

Up

$308,915

Up $60,446 (+24%) from 2023

Trend Graphs

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $803,757Liabilities 2010: $44,206Net Assets 2010: $759,5512010Assets 2011: $841,841Liabilities 2011: $51,365Net Assets 2011: $790,4762011Assets 2012: $881,197Liabilities 2012: $61,254Net Assets 2012: $819,9432012Assets 2013: $980,772Liabilities 2013: $68,624Net Assets 2013: $912,1482013Assets 2014: $871,344Liabilities 2014: $51,861Net Assets 2014: $819,4832014Assets 2015: $817,591Liabilities 2015: $12,808Net Assets 2015: $804,7832015Assets 2016: $948,068Liabilities 2016: $1,476Net Assets 2016: $946,5922016Assets 2017: $1,147,220Liabilities 2017: $20,065Net Assets 2017: $1,127,1552017Assets 2018: $1,196,127Liabilities 2018: $37,931Net Assets 2018: $1,158,1962018Assets 2019: $1,617,240Liabilities 2019: $36,469Net Assets 2019: $1,580,7712019Assets 2020: $1,920,401Liabilities 2020: $46,801Net Assets 2020: $1,873,6002020Assets 2021: $2,285,909Liabilities 2021: $57,122Net Assets 2021: $2,228,7872021Assets 2022: $2,267,831Liabilities 2022: $50,130Net Assets 2022: $2,217,7012022Assets 2023: $2,664,563Liabilities 2023: $34,096Net Assets 2023: $2,630,4672023Assets 2024: $3,147,504Liabilities 2024: $44,801Net Assets 2024: $3,102,7032024

Highlighted filing

2024

Assets$3,147,504
Liabilities$44,801
Net Assets$3,102,703

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $347,3322010Expenses 2011: $379,9772011Expenses 2012: $361,5942012Revenue 2013: $360,711Expenses 2013: $359,350Net Income 2013: $1,3612013Revenue 2014: $521,655Expenses 2014: $589,386Net Income 2014: -$67,7312014Revenue 2015: $463,751Expenses 2015: $454,039Net Income 2015: $9,7122015Revenue 2016: $544,812Expenses 2016: $441,527Net Income 2016: $103,2852016Revenue 2017: $563,824Expenses 2017: $466,459Net Income 2017: $97,3652017Revenue 2018: $571,740Expenses 2018: $471,258Net Income 2018: $100,4822018Revenue 2019: $1,079,105Expenses 2019: $758,907Net Income 2019: $320,1982019Revenue 2020: $675,642Expenses 2020: $628,841Net Income 2020: $46,8012020Revenue 2021: $1,078,544Expenses 2021: $706,111Net Income 2021: $372,4332021Revenue 2022: $1,054,026Expenses 2022: $783,051Net Income 2022: $270,9752022Revenue 2023: $1,084,922Expenses 2023: $836,453Net Income 2023: $248,4692023Revenue 2024: $1,157,126Expenses 2024: $848,211Net Income 2024: $308,9152024

Highlighted filing

2024

Revenue$1,157,126
Expenses$848,211
Net Income$308,915

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.15$0.04$3.10$1.16$0.85$0.31
2023Detailed filing. Detailed filing data is available for this year.$2.66$0.03$2.63$1.08$0.84$0.25
2022Detailed filing. Detailed filing data is available for this year.$2.27$0.05$2.22$1.05$0.78$0.27
2021Detailed filing. Detailed filing data is available for this year.$2.29$0.06$2.23$1.08$0.71$0.37
2020Detailed filing. Detailed filing data is available for this year.$1.92$0.05$1.87$0.68$0.63$0.05
2019Detailed filing. Detailed filing data is available for this year.$1.62$0.04$1.58$1.08$0.76$0.32
2018Detailed filing. Detailed filing data is available for this year.$1.20$0.04$1.16$0.57$0.47$0.10
2017Detailed filing. Detailed filing data is available for this year.$1.15$0.02$1.13$0.56$0.47$0.10
2016Detailed filing. Detailed filing data is available for this year.$0.95$0.00$0.95$0.54$0.44$0.10
2015Detailed filing. Detailed filing data is available for this year.$0.82$0.01$0.80$0.46$0.45$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.87$0.05$0.82$0.52$0.59$0.07
2013Detailed filing. Detailed filing data is available for this year.$0.98$0.07$0.91$0.36$0.36$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.88$0.06$0.82$0.36
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.84$0.05$0.79$0.38
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$0.04$0.76$0.35
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 10, 2025
Return Version
2024v5.0
Gross Receipts
$2,014,461
Mission and Program Overview

Mission

Broadens the perspectives of current and emerging leaders through experiential education that inspires them to advance kentucky.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,729,552$2,157,120▲ $427,568
Savings and Temporary Cash Investments$830,927$931,530▲ $100,603
Pledges and Grants Receivable$66,834$40,000▼ $26,834
Accounts Receivable$6,730$7,000▲ $270
Cash and Non-Interest-Bearing Accounts$2,888$2,888→ $0
Prepaid Expenses and Deferred Charges$7,944$1,080▼ $6,864
Total Assets$2,664,563$3,147,504▲ $482,941
Other Assets Total$19,688$7,886▼ $11,802
Liabilities
Deferred Revenue$15,560$31,700▲ $16,140
Accounts Payable and Accrued Expenses$5,348$8,215▲ $2,867
Other Liabilities$13,188$4,886▼ $8,302
Total Liabilities$34,096$44,801▲ $10,705
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,431,621$1,559,111▲ $127,490
Net Assets With Donor Restrictions$1,198,846$1,543,592▲ $344,746
Total Net Assets Fund Balance$2,630,467$3,102,703▲ $472,236
Total Liabilities and Net Assets / Fund Balance$2,664,563$3,147,504▲ $482,941

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$20,000---$25,000
2023$20,000---$20,000
2022$20,000---$20,000
2021$20,000---$20,000
2020$20,000---$20,000
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Janice WayPresident$148,750$60,685$209,435

Board Members and Trustees

NameTitle
Ron WilsonBoard Chair
Gina S WinchesterChair Elect
Aaron Crum MdDirector
Aaron PoynterDirector
Alan KeckDirector
Betsy ClemonsDirector
Carolle Jones ClayDirector
Chuck SessionDirector
Cindy WisemanDirector
Craig J CarlsonDirector
Daniel CarmackDirector
Debbie ZuernerDirector
Gary GerdemannDirector
John YanesDirector
Kelley WorkmanDirector
Leslie Buddeke Smart CfreDirector
Roy Lowdenback Ma CfreDirector
Shannon MontgomeryDirector
Barbara K DickensExecutive Co
Chrisandrea TurnerExecutive Co
Elmer K WhitakerExecutive Co
Ken PerdueExecutive Co
Melissa Lee KnightExecutive Co
Regina JacksonExecutive Co
Teresa Trimble HailExecutive Co
Trey GraysonExecutive Co
Perry P AllenImmediate Pa
Leslie a FugateSecretary
Dan BorkTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$740,272
Program Service Revenue
$275,500
Investment Income
$99,684
Other Revenue
$41,670
All Other Contributions
$567,972
Change in Net Assets
$308,915

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$44,719
Total Noncash Contributions1$44,719

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,131,579
Revenue Not Reported on Financial Statements
$25,547
Revenue Not Reported on Form 990
$221,244
Total Revenue per Audited Statements
$1,352,823
Total Revenue per Form 990
$1,157,126
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$433,083
Other Expenses$415,128
Total Fundraising Expense$845
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$148,750$39,065-$187,815
Other Salaries and Wages$144,485$41,468-$185,953
Travel$89,388$23,362$109$112,859
Fees for Services Other$20,277$49,521-$69,798
Other Employee Benefits$21,598$10,004-$31,602
All Other Expenses$1,939$26,308$22$28,269
Payroll Taxes$22,235$5,478-$27,713
Other Expenses$15,147$300-$15,447
Advertising$12,750$2,500-$15,250
Office Expenses$3,154$5,799-$8,953
Occupancy-$7,200-$7,200
Insurance$5,714$714$714$7,142
Total Functional Expenses$556,787$290,579$845$848,211

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$880,587
Expenses per Audited Statements$848,211
Total Expenses per Form 990$848,211
Expenses Not Reported on Form 990$32,376
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$72,265
Fundraising Direct Expenses$32,376
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$72,265$72,265$32,376$39,889
Total Events$72,265$72,265$32,376$39,889
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Payable$4,886
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
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

Prior to filing, form 990 is reviewed by the board and approved.

Form 990, Page 6, Part VI, Line 12C

Leadership kentucky foundation annually surveys its executive committee, board of directors, officers and other key persons to determine potential conflicts of interest. A questionnaire is distributed to the constituents as well as a detailed description of what might constitute a conflict of interest with the organization as part of this survey. If a potential conflict of interest exists, the organization will exercise due diligence to determine whether a more advantageous transaction can be obtained from a person who would not have a conflict of interest. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, the interested person is to leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The meeting minutes are to reflect the disclosure and vote abstention. If a more advantageous transaction or arrangement that does not produce a conflict of interest is not reasonably possible, the governing body will determine by majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest and whether it is fair and reasonable. If the governing board or committee has reasonable cause to believe a member has failed to disclose an actual or possible conflict of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If after hearing the member's response and making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.

Form 990, Page 6, Part VI, Line 15A

The president and all employees are reviewed by their immediate superior with input from others annually. A written format is used for all evaluations measured, in part, by their agreed upon personal and organizational goals. Every 2-3 years, or as new employees are hired, we undertake a review of comparable job descriptions and salaries as well as current trends in annual raise percentages and cost of living.

Form 990, Page 6, Part VI, Line 15B

The president and all employees are reviewed by their immediate superior with input from others annually. A written format is used for all evaluations measured, in part, by their agreed upon personal and organizational goals. Every 2-3 years, or as new employees are hired, we undertake a review of comparable job descriptions and salaries as well as current trends in annual raise percentages and cost of living.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon written request to be viewed at the organization's office.

Filing and Contact Details

Filer

Filer Name
Leadership Kentucky Foundation Inc
EIN
31-1096215
Phone
5026951102
Address
464 CHENAULT ROAD, FRANKFORT, KY 40601

Signing Officer

Name
Janice Way
Title
President
Phone
5026951102
Signed
2025-09-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janice Way
Formed
1984
Legal Domicile
Ky
Voting Board Members
30
Independent Board Members
30
Employees
6
Volunteers
35

Preparer

Firm
Kelley Galloway Smith Goolsby Psc
Address
1200 CORPORATE COURT PO BOX 990, ASHLAND, KY 41105-0990
Preparer
Lori F Dearfield CPA
Phone
6063291811
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

The core leadership kentucky program began in 1985 and brings together a diverse group of people who possess a broad variety of leadership abilities, career accomplishments, and volunteer activities to gain insight into complex issues facing the state. Through a series of seven monthly, three day sessions, held in various locations in the state, our participants are educated about the commonwealth of kentucky and its challenges. They meet and talk with kentucky's current leaders, and through a systematic educational program, explore the state's opportunities, needs and resources. Kentucky's rich cultural heritage and its unique diversity are woven throughout the curriculum that features the state's economy, education, health and human services, law and justice, military, natural resources, arts, government, and tourism. In addition, leadership kentucky provides a thought-provoking experience focusing on the attributes of leadership and what it means to be a leader. By visiting various regions of the commonwealth, class participants develop an enhanced view and a new meaning to the word community that spans the entire state.during 2022, lky led a class of 51 leaders from across the state to fulfill its mission. Leadership kentucky's selected participants were required to pay tuition of 3,500 for 2022. For this investment, the participant and their sponsoring business or organization sees a return on that investment in expert speakers, books, program content, meals, transportation and venue admissions. Additional return on investment is seen through the class content as they learn firsthand the complex critical issues facing kentucky and its citizens; their broadened circle of contacts and new alliances built across the state; they are educated, prepared and inspired to return to their respective communities and achieve an even higher level of civic participation in a united effort to make kentucky a better place for all its citizens.

Form 990, Part XI, Line 9

Golf outing expenses 32,376 golf outing expenses -32,376

Financial Statement Notes

Schedule D, Page 3, Part X

The foundation is a nonprofit organization as described in section 501(c) (3) of the internal revenue code and is exempt from federal income taxes on related income pursuant to the internal revenue code. The foundation has adopted the provisions of the accounting pronouncement related to accounting for uncertainty in income taxes. The foundation recognized no interest or penalties in the statements of activities for either of the years ended december 31, 2024 or 2023. If the situation arose in which the foundation would have interest to recognize, it would recognize this as interest expense and penalties would be recognized in other expenses. Currently, the prior three years are open under federal and state statute of limitations and remain subject to review and change. The foundation is not currently under audit, nor has the foundation been contacted by these jurisdictions. Based on the evaluation of the foundation's tax positions, management believes all positions taken would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for either of the years ended december 31, 2024 or 2023.

Schedule D, Page 4, Part XI, Line 2D

Golf outing expenses 32,376

Schedule D, Page 4, Part XII, Line 2D

Golf outing expenses 32,376

Schedule D, Page 4, Part XIII

Part v, line 4: the intended use of the organization's endowment fund is to support the organization's operations, scholarship assistance, and the activities of the leadership kentucky program should annual fundraising efforts result in insufficient funding for a period of time. Part x, line 2: the foundation is a nonprofit organization described in section 501(c)(3) of the internal revenue code and is exempt from federal income taxes on related income pursuance to the internal revenue code.

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IRS990/ActivityOrMissionDesc0BROADENS THE PERSPECTIVES OF CURRENT AND EMERGING LEADERS THROUGH EXPERIENTIAL EDUCATION THAT INSPIRES THEM TO ADVANCE KENTUCKY.
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IRS990/Desc0THE CORE LEADERSHIP KENTUCKY PROGRAM BEGAN IN 1985 AND BRINGS TOGETHER A DIVERSE GROUP OF PEOPLE WHO POSSESS A BROAD VARIETY OF LEADERSHIP ABILITIES, CAREER ACCOMPLISHMENTS, AND VOLUNTEER ACTIVITIES TO GAIN INSIGHT INTO COMPLEX ISSUES FACING THE STATE. THROUGH A SERIES OF SEVEN MONTHLY, THREE DAY SESSIONS, HELD IN VARIOUS LOCATIONS IN THE STATE, OUR PARTICIPANTS ARE EDUCATED ABOUT THE COMMONWEALTH OF KENTUCKY AND ITS CHALLENGES. THEY MEET AND TALK WITH KENTUCKY'S CURRENT LEADERS, AND THROUGH A SYSTEMATIC EDUCATIONAL PROGRAM, EXPLORE THE STATE'S OPPORTUNITIES, NEEDS AND RESOURCES. KENTUCKY'S RICH CULTURAL HERITAGE AND ITS UNIQUE DIVERSITY ARE WOVEN THROUGHOUT THE CURRICULUM THAT FEATURES THE STATE'S ECONOMY, EDUCATION, HEALTH AND HUMAN SERVICES, LAW AND JUSTICE, MILITARY, NATURAL RESOURCES, ARTS, GOVERNMENT, AND TOURISM. IN ADDITION, LEADERSHIP KENTUCKY PROVIDES A THOUGHT-PROVOKING EXPERIENCE FOCUSING ON THE ATTRIBUTES OF LEADERSHIP AND WHAT IT MEANS TO BE A LEADER. BY VISITING VARIOUS REGIONS OF THE COMMONWEALTH, CLASS PARTICIPANTS DEVELOP AN ENHANCED VIEW AND A NEW MEANING TO THE WORD COMMUNITY THAT SPANS THE ENTIRE STATE.DURING 2022, LKY LED A CLASS OF 51 LEADERS FROM ACROSS THE STATE TO FULFILL ITS MISSION. LEADERSHIP KENTUCKY'S SELECTED PARTICIPANTS WERE REQUIRED TO PAY TUITION OF 3,500 FOR 2022. FOR THIS INVESTMENT, THE PARTICIPANT AND THEIR SPONSORING BUSINESS OR ORGANIZATION SEES A RETURN ON THAT INVESTMENT IN EXPERT SPEAKERS, BOOKS, PROGRAM CONTENT, MEALS, TRANSPORTATION AND VENUE ADMISSIONS. ADDITIONAL RETURN ON INVESTMENT IS SEEN THROUGH THE CLASS CONTENT AS THEY LEARN FIRSTHAND THE COMPLEX CRITICAL ISSUES FACING KENTUCKY AND ITS CITIZENS; THEIR BROADENED CIRCLE OF CONTACTS AND NEW ALLIANCES BUILT ACROSS THE STATE; THEY ARE EDUCATED, PREPARED AND INSPIRED TO RETURN TO THEIR RESPECTIVE COMMUNITIES AND ACHIEVE AN EVEN HIGHER LEVEL OF CIVIC PARTICIPATION IN A UNITED EFFORT TO MAKE KENTUCKY A BETTER PLACE FOR ALL ITS CITIZENS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0ELEVATE KENTUCKY FEATURES APPROXIMATELY 25 MEMBERS (AGES 25 TO 35) EACH YEAR. ELEVATE KENTUCKY'S SELECTED PARTICIPANTS PAY TUITION OF 2,200. ELEVATE KENTUCKY OFFERS YOUNG PROFESSIONALS INDEPTH PERSONAL AND PROFESSIONAL DEVELOPMENT WHILE FOSTERING A BETTER UNDERSTANDING OF CHALLENGES FACING OUR COMMONWEALTH. ELEVATE PARTICIPANTS RETURN TO THEIR COMPANIES WITH INCREASED SKILLS, KNOWLEDGE, PERSPECTIVE, AND A NEW STATEWIDE PROFESSIONAL NETWORK. MILLENNIAL LEADERS ARE BETTER PREPARED TO BE CATALYSTS IN THEIR COMPANIES AND COMMUNITIES IN AN EFFORT TO ELEVATE KENTUCKY.
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IRS990/ProgSrvcAccomActy3Grp/Desc0BRIGHT KENTUCKY IS DESIGNED TO BUILD THE CAPACITY OF NEXT GENERATION LEADERS (AVERAGE AGE 21 TO 40 WITH APPROXIMATELY 42 PARTICIPANTS IN THE COHORT) IN THE APPALACHIAN REGION OF KENTUCKY TO INNOVATE, COLLABORATE, AND ADVANCE COMMUNITY AND ECONOMIC DEVELOPMENT. BRIGHT KENTUCKY ENGAGES BRIGHT, ENTREPRENEURIAL MINDS FROM ALL SECTORS AND EASTERN KENTUCKY REGIONS TO OFFER NONPARTISAN, ETHICAL LEADERSHIP TRAINING, EXPANDED NETWORKS, AND MENTORS DESIGNED ESPECIALLY FOR RESIDENTS OF THE 54 KENTUCKY COUNTIES OF THE APPALACHIAN REGIONAL COMMISSION (ARC). BRIGHT IS FUNDED THROUGH A GRANT FROM THE ARC AND PRIVATE CONTRIBUTIONS FROM WHITAKER BANK AND OTHERS.
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