Kernel Press Inc
- Assets
- $934.0
- Revenue
- $59.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Lexington, KY
- Founding
- 10/1972
- Data as of
- 06/2021
- EIN
- 61-0719986
Organization Overview
Kernel Press Inc is located in Lexington, KY. The organization was established in 1972. According to its NTEE Classification (A33) the organization is classified as: Printing & Publishing, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Kernel Press Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kernel Press Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Kernel Press Inc generated $59.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (18.7%) each year. All expenses for the organization totaled $67.6k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (16.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY EXEMPT PURPOSE OF THIS ORGANIZATION IS TO EDUCATE COLLEGE STUDENTS IN THE AREA OF JOURNALISM THROUGH PUBLICATION AND ADVERTISING SALES ASSIGNMENTS FOR A CAMPUS NEWSPAPER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES INCLUDE EDUCATION OF STUDENTS THROUGH PUBLICATION OF A CAMPUS NEWSPAPER. IN ADDITION TO NEWS ITEMS AND EDITORIAL COMMENTARY, THE NEWSPAPER PUBLISHES PAID ADVERTISING. THE SALE, SOLICITATION AND PUBLICATION OF THE ADVERTISING ARE CONDUCTED BY STUDENTS UNDER THE SUPERVISION AND INSTRUCTION OF STAFF. ALTHOUGH THE SERVICES RENDERED TO ADVERTISERS ARE COMMERCIAL IN NATURE, THE ADVERTISING BUSINESS CONTRIBUTES IMPORTANTLY TO THE EDUCATION PROGRAM THROUGH TRAINING OF THE STUDENTS INVOLVED. HENCE, NONE OF THE INCOME DERIVED FROM PUBLICATION OF THE NEWSPAPER CONSTITUTES GROSS INCOME FROM UNRELATED TRADE OR BUSINESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Duane Bonifer Chairman | OfficerTrustee | 1 | $0 |
Greg Hall Member | Trustee | 1 | $0 |
Jack Guthrie Member | Trustee | 1 | $0 |
Mary Barton Member | Trustee | 1 | $0 |
Mary Bolin Member | Trustee | 1 | $0 |
Mike Farrell Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $59,437 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,994 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,847 |
| Payroll taxes | $2,658 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,912 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $170 |
| Advertising and promotion | $14 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,507 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $185 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $67,630 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48 |
| Savings and temporary cash investments | $886 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $934 |
| Accounts payable and accrued expenses | $196 |
| 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 | $0 |
| Total liabilities | $196 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $738 |