Civic Intelligence

Kentucky Community & Technical College System Foundation Inc.

990 • Fiscal year 2017 • EIN 61-1351918

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 15, 2018

300 North Main StreetVersailles, KY 40383

(859) 256-3227

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Higher debt load relative to assets than 17% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

19th percentile

0.01x

Higher debt load relative to revenue than 19% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

89th percentile

43%

Higher net margin than 89% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

75th percentile

15%

Faster asset growth than 75% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

32nd percentile

-2.2%

Faster revenue growth than 32% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$2,779,803

Up $360,694 (+15%) from 2016

Net Assets

Up

$2,777,603

Up $363,942 (+15%) from 2016

Liabilities

Down

$2,200

Down $3,248 (-60%) from 2016

Revenue

Down

$401,196

Down $8,861 (-2.2%) from 2016

Expenses

Down

$229,184

Down $119,852 (-34%) from 2016

Net Income

Up

$172,012

Up $110,991 (+182%) from 2016

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2011: $2,261,484Liabilities 2011: $53,719Net Assets 2011: $2,207,7652011Assets 2012: $2,262,324Liabilities 2012: $52,207Net Assets 2012: $2,210,1172012Assets 2013: $2,568,450Liabilities 2013: $53,510Net Assets 2013: $2,514,9402013Assets 2014: $2,691,829Liabilities 2014: $54,208Net Assets 2014: $2,637,6212014Assets 2015: $2,409,962Liabilities 2015: $52,879Net Assets 2015: $2,357,0832015Assets 2016: $2,419,109Liabilities 2016: $5,448Net Assets 2016: $2,413,6612016Assets 2017: $2,779,803Liabilities 2017: $2,200Net Assets 2017: $2,777,6032017Assets 2018: $2,943,204Liabilities 2018: $0Net Assets 2018: $2,943,2042018Assets 2019: $3,150,674Liabilities 2019: $0Net Assets 2019: $3,150,6742019Assets 2020: $3,703,098Liabilities 2020: $4,095Net Assets 2020: $3,699,0032020Assets 2021: $7,742,364Liabilities 2021: $1,339,216Net Assets 2021: $6,403,1482021Assets 2022: $10,345,360Liabilities 2022: $1,162,920Net Assets 2022: $9,182,4402022Assets 2023: $13,812,592Liabilities 2023: $1,298,047Net Assets 2023: $12,514,5452023Assets 2024: $21,975,662Liabilities 2024: $2,478,999Net Assets 2024: $19,496,6632024

Highlighted filing

2017

Assets$2,779,803
Liabilities$2,200
Net Assets$2,777,603

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $423,4472011Expenses 2012: $326,7642012Revenue 2013: $430,910Expenses 2013: $271,860Net Income 2013: $159,0502013Revenue 2014: $334,290Expenses 2014: $414,988Net Income 2014: -$80,6982014Revenue 2015: $536,063Expenses 2015: $873,829Net Income 2015: -$337,7662015Revenue 2016: $410,057Expenses 2016: $349,036Net Income 2016: $61,0212016Revenue 2017: $401,196Expenses 2017: $229,184Net Income 2017: $172,0122017Revenue 2018: $345,518Expenses 2018: $325,140Net Income 2018: $20,3782018Revenue 2019: $234,278Expenses 2019: $168,607Net Income 2019: $65,6712019Revenue 2020: $1,149,310Expenses 2020: $641,685Net Income 2020: $507,6252020Revenue 2021: $2,642,430Expenses 2021: $743,991Net Income 2021: $1,898,4392021Revenue 2022: $5,950,340Expenses 2022: $1,950,798Net Income 2022: $3,999,5422022Revenue 2023: $4,088,452Expenses 2023: $1,862,334Net Income 2023: $2,226,1182023Revenue 2024: $6,750,000Expenses 2024: $1,143,961Net Income 2024: $5,606,0392024

Highlighted filing

2017

Revenue$401,196
Expenses$229,184
Net Income$172,012
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 15, 2018
Return Version
2016v3.0
Gross Receipts
$401,196
Mission and Program Overview

Mission

To advance fundraising, advocacy, public relations, and the educational and community service goals of the kentucky community & technical college system in order to benefit those served by the kentucky community & technical college system.

The Foundation serves as the non-profit fund-raising arm of KCTCS; is a catalyst and leader of resource development initiatives that support the strategic plan of KCTCS to meet the needs of its stakeholders.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,373,395$1,568,841▲ $195,446
Savings and Temporary Cash Investments$388,000$769,361▲ $381,361
Cash and Non-Interest-Bearing Accounts$649,999$429,648▼ $220,351
Pledges and Grants Receivable$664$7,186▲ $6,522
Prepaid Expenses and Deferred Charges$3,884$3,506▼ $378
Land, Buildings, and Equipment, Net$3,167$1,261▼ $1,906
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0--
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Pd in Cap Srpls Land Bldg Eqp Fund$0--
Rtn Earn Endowment Incm Other Fnds$0--
Cap Stk Tr Prin Current Funds$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0--
Total Assets$2,419,109$2,779,803▲ $360,694
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$5,448$2,200▼ $3,248
Grants Payable$0--
Mortgage Notes Payable Secured by Investment Property$0--
Unsecured Notes Loans Payable$0--
Other Liabilities$0$0→ $0
Deferred Revenue$0--
Escrow Account Liability$0--
Tax Exempt Bond Liabilities$0--
Total Liabilities$5,448$2,200▼ $3,248
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,255,965$1,566,235▲ $310,270
Permanently Rstr Net Assets$815,589$820,664▲ $5,075
Unrestricted Net Assets$342,107$390,704▲ $48,597
Total Net Assets Fund Balance$2,413,661$2,777,603▲ $363,942
Total Liabilities and Net Assets / Fund Balance$2,419,109$2,779,803▲ $360,694

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,261$22,525$23,786

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$1,373,395$5,075▲ $191,930$1,559$1,568,841
2015$1,359,552$19,200▼ $3,931$1,426$1,373,395
2014$1,296,996$7,050▲ $56,911$1,405$1,359,552
2013$1,090,466$7,550▲ $200,267$1,287$1,296,996
2012$946,514$3,000▲ $142,361$1,409$1,090,466
Compensation and Service Providers

Board Members and Trustees

NameTitle
-Chair
-Immediate Past Chair
-KCTCS President Appointee
-Director
-Executive Director
-Ex-Officio Member
-Secretary
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$363,713
Program Service Revenue
$0
Investment Income
$2,038
Other Revenue
$35,445
All Other Contributions
$363,713
Change in Net Assets
$172,012

Audited Revenue Reconciliation

Revenue per Audited Statements
$401,196
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$307,789
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$708,985
Total Revenue per Form 990
$401,196
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$125,684
Grants and Similar Amounts Paid$103,500
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$78,500--$78,500
Grants to Domestic Orgs$25,000--$25,000
Other Expenses$15,540$0$0$15,540
Fees for Services Accounting$0$9,400$0$9,400
Fees for Services Other$5,992$0$0$5,992
Office Expenses$0$4,870$0$4,870
Insurance$0$4,226$0$4,226
Depreciation Depletion$0$1,906$0$1,906
Fees for Service Investment Mgmnt Fees$0$1,559$0$1,559
Total Functional Expenses$207,223$21,961$0$229,184

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$345,043
Expenses per Audited Statements$229,184
Total Expenses per Form 990$229,184
Expenses Not Reported on Form 990$115,859
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Big Sandy Community & Technical CollegePrestonsburg, KY115Academis & Technical Programs$10,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Annuities Payable-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
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, Part VI, Line 15 Process for determining compensation

None of the organizations officers receive compensation. The form 990 instructions indicate when this question is not applicable it should be answered "no".

Form 990, Part VI, Line 11B Review of form 990 by governing body

The Executor Director will provide a pdf copy of the Foundation's 990 to each director for review to identify any concerns the director may have. A deadline for review will be set. Directors will review the 990 and any questions/concerns they have will be addressed before the 990 is filed with the IRS.

Form 990, Part VI, Line 12C Conflict of interest policy

The Foundation's Conflict of Interest Policy is Reviewed on an annual basis at the annual meeting in August of each year. A copy is available upon request. Each director if asked to answer a series of questions and sign the conflict of interest statement at the annual meeting in August (see attached note). If there is a Conflict of Interest on a vote, the director who has the conflict abstains from voting.

Form 990, Part VI, Line 19 Required documents available to the public

The Foundation's governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Kentucky Community and Technical College System Foundation Inc
EIN
61-1351918
Phone
8592563227
Address
300 NORTH MAIN STREET, VERSAILLES, KY 40383

Signing Officer

Name
Larry Ferguson
Title
Executive Director
Signed
2018-01-15
Discuss with paid preparer
Yes

Organization Details

Formed
1999
Legal Domicile
Ky
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Crowe Horwath Llp
Address
9600 Brownsboro Road Suite 400, Louisville, KY 40241-1122
Preparer
Rachel Spurlock
Phone
5023263996
Supplemental Narrative

Financial Statement Notes

Schedule D, Part V, Line 4 Intended uses of endowment funds

The financial and investment objectives for the endowment fund are intended to accomplish the primary goal of preserving or increasing the purchasing power of principal and income by maximizing real total return (adjusted for inflation), subject to risk constraints, and to achieve financial equilibrium by balancing annual spending and real total return this will enhance the foundation's ability to meet changing state needs in both the short- and long-term.

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The Internal Revenue Service has determined that the Foundation is a tax-exempt organization as defined in Section 501(c)(3) of the Internal Revenue Code and is exempt from federal income taxes on related income. The Foundation is not considered to be a private foundation. Current accounting standards require the Foundation to disclose the amount of potential benefit or obligation to be realized as a result of an examination performed by a taxing authority. For the years ended June 30, 2017 and 2016, management has determined that the Foundation does not have any tax positions that result in any uncertainties regarding the possible impact on the Foundation's financial statements. The Foundation does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. The Foundation recognizes interest and/or penalties related to income tax matters in income tax expense. The Foundation did not have any amounts accrued for interest and penalties at June 30, 2017 and 2016.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt1Immediate Past Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8KCTCS President Appointee
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IRS990/OtherExpensesGrp/Desc0Recognition Dinner
IRS990/OtherExpensesGrp/Desc1Strategic Planning
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt00
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IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0815589
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0820664

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$22.0$2.48$19.5$6.75$1.14$5.61
2023Detailed filing. Detailed filing data is available for this year.$13.8$1.30$12.5$4.09$1.86$2.23
2022Detailed filing. Detailed filing data is available for this year.$10.3$1.16$9.18$5.95$1.95$4.00
2021Detailed filing. Detailed filing data is available for this year.$7.74$1.34$6.40$2.64$0.74$1.90
2020Detailed filing. Detailed filing data is available for this year.$3.70$0.00$3.70$1.15$0.64$0.51
2019Detailed filing. Detailed filing data is available for this year.$3.15$0.00$3.15$0.23$0.17$0.07
2018Detailed filing. Detailed filing data is available for this year.$2.94$0.00$2.94$0.35$0.33$0.02
2017Detailed filing. Detailed filing data is available for this year.$2.78$0.00$2.78$0.40$0.23$0.17
2016Detailed filing. Detailed filing data is available for this year.$2.42$0.01$2.41$0.41$0.35$0.06
2015Detailed filing. Detailed filing data is available for this year.$2.41$0.05$2.36$0.54$0.87$0.34
2014Detailed filing. Detailed filing data is available for this year.$2.69$0.05$2.64$0.33$0.41$0.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.57$0.05$2.51$0.43$0.27$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.26$0.05$2.21$0.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.26$0.05$2.21$0.42