Civic Intelligence

Kentucky Baptist Assemblies Inc.

990 • Fiscal year 2019 • EIN 31-1537445

Apr 01, 2018 to Mar 31, 2019 • Filed on Oct 10, 2019

13420 Eastpoint Centre DriveLouisville, KY 40233

(502) 491-7000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

57th percentile

0.27x

Higher debt load relative to assets than 57% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

79th percentile

0.92x

Higher debt load relative to revenue than 79% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

73rd percentile

14%

Higher net margin than 73% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

42nd percentile

$154,981

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

41st percentile

1.5%

Faster asset growth than 41% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

48th percentile

3.1%

Faster revenue growth than 48% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Up

$21,735,705

Up $311,870 (+1.5%) from 2018

Net Assets

Up

$15,845,998

Up $881,877 (+5.9%) from 2018

Liabilities

Down

$5,889,707

Down $570,007 (-8.8%) from 2018

Revenue

Up

$6,398,245

Up $191,166 (+3.1%) from 2018

Expenses

Down

$5,518,163

Down $1,147,162 (-17%) from 2018

Net Income

Up

$880,082

Up $1,338,328 (+292%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2013: $18,826,053Liabilities 2013: $3,949,487Net Assets 2013: $14,876,5662013Assets 2014: $22,266,877Liabilities 2014: $6,969,656Net Assets 2014: $15,297,2212014Assets 2015: $21,866,255Liabilities 2015: $6,750,261Net Assets 2015: $15,115,9942015Assets 2016: $21,999,326Liabilities 2016: $6,562,323Net Assets 2016: $15,437,0032016Assets 2017: $21,906,874Liabilities 2017: $6,489,218Net Assets 2017: $15,417,6562017Assets 2018: $21,423,835Liabilities 2018: $6,459,714Net Assets 2018: $14,964,1212018Assets 2019: $21,735,705Liabilities 2019: $5,889,707Net Assets 2019: $15,845,9982019Assets 2020: $22,645,880Liabilities 2020: $5,848,890Net Assets 2020: $16,796,9902020Assets 2021: $21,761,753Liabilities 2021: $4,117,919Net Assets 2021: $17,643,8342021Assets 2022: $23,484,929Liabilities 2022: $4,018,905Net Assets 2022: $19,466,0242022Assets 2023: $25,302,990Liabilities 2023: $3,550,580Net Assets 2023: $21,752,4102023Assets 2024: $27,722,773Liabilities 2024: $3,661,891Net Assets 2024: $24,060,8822024

Highlighted filing

2019

Assets$21,735,705
Liabilities$5,889,707
Net Assets$15,845,998

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2013: $4,353,3722013Revenue 2014: $5,179,427Expenses 2014: $4,764,837Net Income 2014: $414,5902014Revenue 2015: $5,217,838Expenses 2015: $5,401,359Net Income 2015: -$183,5212015Revenue 2016: $5,525,178Expenses 2016: $5,144,051Net Income 2016: $381,1272016Revenue 2017: $5,827,881Expenses 2017: $5,851,254Net Income 2017: -$23,3732017Revenue 2018: $6,207,079Expenses 2018: $6,665,325Net Income 2018: -$458,2462018Revenue 2019: $6,398,245Expenses 2019: $5,518,163Net Income 2019: $880,0822019Revenue 2020: $6,904,170Expenses 2020: $5,942,775Net Income 2020: $961,3952020Revenue 2021: $7,127,086Expenses 2021: $4,474,005Net Income 2021: $2,653,0812021Revenue 2022: $8,447,014Expenses 2022: $6,589,443Net Income 2022: $1,857,5712022Revenue 2023: $10,282,629Expenses 2023: $8,012,223Net Income 2023: $2,270,4062023Revenue 2024: $11,399,310Expenses 2024: $9,104,188Net Income 2024: $2,295,1222024

Highlighted filing

2019

Revenue$6,398,245
Expenses$5,518,163
Net Income$880,082
Jump To
Filing Snapshot
Filing Period
Apr 1, 2018 to Mar 31, 2019
Signed
Oct 10, 2019
Return Version
2018v3.1
Gross Receipts
$6,398,245
Mission and Program Overview

Mission

To provide facilities and services in an environment conducive for the conduct of events focused on evangelism, worship, religious education, and christian fellowship.

To create experiences to proclaim the gospel. To provide facilities and services in an environment conducive for the conduct of events focused on evangelism, worship, religious education, and christian fellowship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$18,903,011$18,669,360▼ $233,651
Cash and Non-Interest-Bearing Accounts$1,978,901$2,544,562▲ $565,661
Savings and Temporary Cash Investments$252,391$256,649▲ $4,258
Investments Other Securities$121,837$123,632▲ $1,795
Inventories for Sale or Use$117,471$75,021▼ $42,450
Prepaid Expenses and Deferred Charges$49,829$35,890▼ $13,939
Accounts Receivable$395$30,591▲ $30,196
Total Assets$21,423,835$21,735,705▲ $311,870
Liabilities
Tax Exempt Bond Liabilities$4,623,091$4,372,448▼ $250,643
Deferred Revenue$1,492,540$1,373,962▼ $118,578
Accounts Payable and Accrued Expenses$344,083$143,297▼ $200,786
Total Liabilities$6,459,714$5,889,707▼ $570,007
Net Assets / Fund Balance
Unrestricted Net Assets$14,841,948$15,722,030▲ $880,082
Permanently Rstr Net Assets$120,611$122,173▲ $1,562
Temporarily Rstr Net Assets$1,562$1,795▲ $233
Total Net Assets Fund Balance$14,964,121$15,845,998▲ $881,877
Total Liabilities and Net Assets / Fund Balance$21,423,835$21,735,705▲ $311,870

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,572,605$11,188,055$21,760,660
Land$5,655,878-$5,655,878
Other Land Buildings$1,871,009$1,219,941$3,090,950
Equipment$569,868$1,297,319$1,867,187

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$51,560-▲ $2,017-$52,664
2017-$50,335▲ $1,225-$51,560
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lance HowertonPresident/CEOFT$92,665$62,316$154,981
Daniel TalcottDirector of Business ManagFT$106,193-$106,193
Rachel CobbBoard Member-$2,700-$2,700

Board Members and Trustees

NameTitle
Brandt LyonChairman
John LucasVice-chairman
Carol ParksBoard Member
Jim JohnstonBoard Member
Joe JamesBoard Member
Matt BriggsBoard Member
Nate BishopBoard Member
Randy StinsonBoard Member
Steve HussungBoard Member
Jennifer RingstaffSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$502,789
Program Service Revenue
$5,845,009
Investment Income
$7,482
Other Revenue
$42,965
All Other Contributions
$68,619
Change in Net Assets
$880,082

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,398,245
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,795
Total Revenue per Audited Statements
$6,400,040
Total Revenue per Form 990
$6,398,245
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,796,629
Salaries, Compensation, and Employee Benefits$1,721,534
Total Fundraising Expense$1,105
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,199,645$364,266-$1,563,911
Depreciation Depletion$728,489$98,130-$826,619
All Other Expenses$454,526$21,995$1,105$477,626
Occupancy$391,220$63,515-$454,735
Insurance$149,754$33,734-$183,488
Other Expenses$166,702$3,790-$166,702
Current Officers, Directors, Trustees, and Key Employees-$157,623-$157,623
Interest$147,904$1,894-$149,798
Office Expenses$5,641$135,207-$140,848
Advertising$86,225$42,790-$129,015
Travel$67,068$16,343-$83,411
Fees for Services Other$50,354$2,175-$52,529
Fees for Services Accounting-$34,872-$34,872
Total Functional Expenses$4,412,397$1,104,661$1,105$5,518,163

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,518,163
Total Expenses per Audited Statements$5,518,163
Total Expenses per Form 990$5,518,163
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Cathy Stafford - Ad-venture PromotiBoard Member During Fy2019 Is the Business Owner of Ad-venture PromotionsPurchases of Marketing, Promotional Items, and UniformsNo$68,050
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMarshall County Kentucky2013-11-20$5,750,000Acquire real property and equipment and construction of facilities
BMarshall County Kentucky2018-11-20$4,487,500Pay off the marshall, kentucky bonds issued in 2013 that matured in 2018.

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$5,750,000$4,451,754$4,487,500$78,235
B$4,487,500--$35,746

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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, Part VI, Section A, Line 7A

Members of the board are invited and nominated to serve by the president & ceo, and affirmed by the nominating committee of the kentucky baptist convention.

Form 990, Part VI, Section B, Line 11B

A copy of form 990 is sent to the finance committee for their review before it is filed. The form 990 is then discussed at the following board meeting with the entire board.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy is periodically discussed throughout the year to ensure all board members are aware of the policy and are in compliance with the requirements of the policy. The board evaluates any conflicts of interest and signs a disclosure statement on an annual basis.

Form 990, Part VI, Section B, Line 15

The ceo's annual evaluation is performed by the board. Evaluations for other key employees are performed by the ceo. These evaluations are then discussed with the board.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Form 990, Part VII Contact Addresses for Officers, Directors, Etc

Brandt lyon - 1117 sherwood rd, paducah, ky 42001. Randy stinson - 319 fibles run court, simpsonville, ky 40067. John lucas - 140 myra barnes ave, pikeville, ky 41501. Steve hussung - 243 champions blvd, bowling green, ky 42104. Jennifer ringstaff - 3409 sasse way, louisville, ky 40245. Nate bishop - 5906 santa rosa dr, louisville, ky 40219. Matt briggs - 13313 shelbyville rd, louisville, ky 40223. Carol parks - 300 branwood lane, nicholasville, ky 40356. Joe james - 8313 alpenea way, louisville, ky 40242. Jim johnston - 10 gavin lane, benton, ky 42025. Rachel cobb - 407 walker parke rd, richmond, ky 40475.

Filing and Contact Details

Filer

Filer Name
Kentucky Baptist Assemblies Inc
EIN
31-1537445
Phone
5024917000
Address
13420 EASTPOINT CENTRE DRIVE, LOUISVILLE, KY 40233

Signing Officer

Name
Lance Howerton
Title
President and CEO
Phone
5024917000
Signed
2019-10-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lance Howerton
Formed
1997
Legal Domicile
Ky
Voting Board Members
11
Independent Board Members
11
Employees
234
Volunteers
70

Preparer

Firm
Williams Williams & Lentz Llp
Address
601 JEFFERSON, PADUCAH, KY 42001-1003
Preparer
J David Bailey Iii
Phone
2704433643
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Financial statement footnote re: tax status - kentucky baptist assemblies, inc. Is qualified as a tax-exempt organization under section 501(c)(3) of the internal revenue code; and accordingly, no provision has been made for income tax expense in the accompanying financial statements unless unrelated business income tax is incurred. The organization recognizes the financial statement impact of a tax position when it is more likely than not that the position will be sustained upon examination. The organization files informational tax returns in the u.s. Federal jurisdiction. With few exceptions, the organization is no longer subject to u.s. Federal, state, or local tax examinations by taxing authorities for the years before 2015. Management believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.

Raw XML AppendixShowing 400 of 634 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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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN
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IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR OF BUSINESS MANAG
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IRS990/ProgSrvcAccomActy2Grp/Desc0JONATHAN CREEK CAMP AND CONFERENCE CENTER OFFERS A VARIETY OF HOUSING, CONFERENCE SPACE,AND RECREATION POSSIBILITIES FOR GROUPS AS LARGE AS 780 IN A CHRISTIAN ENVIRONMENT.
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IRS990/ProgSrvcAccomActy3Grp/Desc0CROSSINGS HUB FOR CHILDREN AND STUDENT MINISTRY (HUB) IS A RESOURCE PROVIDED BY THE ORGANIZATION TO OFFER AN EXTENDED NETWORK OF TRAINING AND TEACHING THROUGH SEMINARS, SMALL-GROUP TRAINING SESSIONS, ONE-ON-ONE MENTORING AND NETWORKING OPPORTUNITIES.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0HAITI MISSION SUPPORT. TRIPS ARE MADE TO HAITI DURING SPRING AND SUMMER BREAKS TO FACILITATE VACATION BIBLE SCHOOLS AND TO REPAIR OR MAINTAIN FACILITIES OF BAPTIST CHURCHES AND SCHOOLS LOCATED IN HAITI.
IRS990/ProgSrvcAccomActyOtherGrp/Desc1DAY CAMP AND TRAVEL CAMPS. DAY CAMPS AND TRAVEL CAMPS PROVIDE SIMILAR CHRISTIAN EVANGELISTIC, WORSHIP, AND FELLOWSHIP OPPORTUNITIES IN THE CITY OF LOUISVILLE AND OTHER LOCATIONS OUTSIDE OF OUR TRADITIONAL PROPERTIES.
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