Kentucky Grocers Education Foundation Inc
- Assets
- $177.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Frankfort, KY
- Founding
- 11/1989
- Data as of
- 12/2021
- EIN
- 61-1163364
Organization Overview
Kentucky Grocers Education Foundation Inc is located in Frankfort, KY. The organization was established in 1989. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Grocers Education Foundation 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 12/2021, Kentucky Grocers Education Foundation Inc generated $17.2k 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 (9.9%) each year. All expenses for the organization totaled $23.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
THE FOUNDATION AWARDS SCHOLARSHIPS TO MEMBERS OF KENTUCKY GROCERS AND CONVENIENCE STORE ASSOCIATION CHILDREN, GRANDCHILDREN OR EMPLOYEES. ALL APPLICATIONS ARE REVIEWED AND SUBMITTED TO AN OUTSIDE INDEPENDENT AGENCY THAT RANKS THE APPLICATIONS. THE SCHOLARSHIPS ARE AWARDED BEGINNING WITH THE TOP APPLICANT AND CONTINUE IN ASCENDING ORDER THROUGH THE LIST UNTIL THE CURRENT FUNDS FOR SCHOLARSHIPS ARE EXHAUSTED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Malony Secretary/tr | 0 | $0 | |
Lynn Rice Chairman | 0 | $0 | |
Cassie Grigsby President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,699 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $5,143 |
| Gain or Loss | $2,397 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $17,239 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $7,379 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $1,595 |
| Total expenses | $22,974 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $177,570 |
| Other assets | $0 |
| Total assets | $177,570 |
| Total liabilities | $7,000 |
| Net assets or fund balances | $170,570 |
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