Commonwealth Fund For Ket Inc
- Assets
- $35.2m
- Revenue
- $8.9m
- Investments
- $1.4m
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 07/1995
- Data as of
- 06/2022
- EIN
- 61-1285473
Organization Overview
Commonwealth Fund For Ket Inc is located in Lexington, KY. The organization was established in 1995. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is the central organization for a national or regional group of organizations. Commonwealth Fund For Ket 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 06/2022, Commonwealth Fund For Ket Inc generated $8.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $6.4m during the year ending 06/2022. While expenses have increased by 4.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FUND IS TO RECEIVE, HOLD, AND ADMINISTER FUNDS PROVIDED BY ITS FUNDRAISING ACTIVITIES FOR THE BENEFIT OF THE KENTUCKY AUTHORITY FOR EDUCATIONAL TELEVISION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S MISSION IS TO SUPPORT THE AUTHORITY FOR KENTUCKY EDUCATIONAL TELEVISION (KET), THE NATION'S LARGEST PUBLIC TELEVISION NETWORK. REACHING 7.3 MILLION HOME VIEWERS IN EIGHT STATES AND EVERY KENTUCKY SCHOOL, KET'S BROADCAST, ONLINE AND MOBILE SERVICES FEATURE ORIGINALLY PRODUCED DOCUMENTARIES, CULTURAL AND PUBLIC AFFAIRS PROGRAMS ABOUT KENTUCKY; THE NATIONAL PBS LINEUP; AND THE MOST-TRUSTED CHILDREN'S EDUCATIONAL CONTENT. BEYOND THE SCREEN, KET'S CRADLE-TO-CAREER INSTRUCTIONAL SERVICES INCLUDE EARLY CHILDHOOD TEACHING TOOLS AND CERTIFICATION, K-12 DIGITAL LEARNING RESOURCES AND PROFESSIONAL TRAINING FOR EDUCATORS, AND GED AND WORKFORCE DEVELOPMENT TOOLS USED NATIONWIDE. THE WEBSITE WWW.KET.ORG/MAKING-A-DIFFERENCE-ARCHIVES TELLS THE STORY OF THE TEACHERS, STUDENTS, FAMILIES AND COMMUNITIES IMPACTED BY KET'S PROGRAMS AND SERVICES.
THE ORGANIZATION'S MISSION IS TO SUPPORT THE AUTHORITY FOR KENTUCKY EDUCATIONAL TELEVISION (KET), THE NATION'S LARGEST PUBLIC TELEVISION NETWORK. REACHING 7.3 MILLION HOME VIEWERS IN EIGHT STATES AND EVERY KENTUCKY SCHOOL, KET'S BROADCAST, ONLINE AND MOBILE SERVICES FEATURE ORIGINALLY PRODUCED DOCUMENTARIES, CULTURAL AND PUBLIC AFFAIRS PROGRAMS ABOUT KENTUCKY; THE NATIONAL PBS LINEUP; AND THE MOST-TRUSTED CHILDREN'S EDUCATIONAL CONTENT. BEYOND THE SCREEN, KET'S CRADLE-TO-CAREER INSTRUCTIONAL SERVICES INCLUDE EARLY CHILDHOOD TEACHING TOOLS AND CERTIFICATION, K-12 DIGITAL LEARNING RESOURCES AND PROFESSIONAL TRAINING FOR EDUCATORS, AND GED AND WORKFORCE DEVELOPMENT TOOLS USED NATIONWIDE. THE WEBSITE WWW.KET.ORG/MAKING-A-DIFFERENCE-ARCHIVES TELLS THE STORY OF THE TEACHERS, STUDENTS, FAMILIES AND COMMUNITIES IMPACTED BY KET'S PROGRAMS AND SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Ripley President | Officer | 37.5 | $0 |
Nick Nicholson Chairman | Trustee | 1 | $0 |
John S Domaschko Treasurer | Trustee | 1 | $0 |
Kimberly D Patton Secretary | Trustee | 1 | $0 |
Dan Griffith Director (authority) | Trustee | 1 | $0 |
Donna Moore Campbell Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ket Foundation Inc Employee & Service Reimbursements | 6/29/22 | $1,160,345 |
Allegiance Fundraising Llc Database Provider | 6/29/22 | $182,133 |
Forest Incentives Premiums | 6/29/22 | $154,731 |
Southeast Printing & Mail Service Direct Marketing Services | 6/29/22 | $140,362 |
Southeast Printing & Mail Service Direct Marketing Services | 6/29/22 | $140,362 |
Ket Foundation Inc Employee & Service Reimbursements | 6/29/22 | $1,160,345 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $310,274 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,877,355 |
| Noncash contributions included in lines 1a–1f | $270,564 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,187,629 |
| Total Program Service Revenue | $0 |
| Investment income | $498,195 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,156,615 |
| Net Income from Fundraising Events | $27,275 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,912,254 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,022,000 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $156,568 |
| Fees for services: Other | $1,210,852 |
| Advertising and promotion | $350 |
| Office expenses | $35,270 |
| Information technology | $39,807 |
| Royalties | $0 |
| Occupancy | $23,778 |
| Travel | $11,447 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,428 |
| Interest | $621 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,603 |
| Insurance | $25,112 |
| All other expenses | $119,212 |
| Total functional expenses | $6,420,846 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,303,020 |
| Pledges and grants receivable | $51,700 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $367,358 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,015 |
| Net Land, buildings, and equipment | $189,855 |
| Investments—publicly traded securities | $29,863,499 |
| Investments—other securities | $1,372,692 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,294 |
| Total assets | $35,205,433 |
| Accounts payable and accrued expenses | $17,907 |
| Grants payable | $0 |
| Deferred revenue | $458,361 |
| 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 | $167,828 |
| Total liabilities | $644,096 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $24,817,520 |
| Paid-in or capital surplus, or land, building, or equipment fund | $168,437 |
| Retained earnings, endowment, accumulated income, or other funds | $9,575,380 |
| Total liabilities and net assets/fund balances | $35,205,433 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Commonwealth Fund For Ket Inc has recieved totaling $100.
| Awarding Organization | Amount |
|---|---|
Isadore And Rose Goldstein Family Foundation Inc Louisville, KY PURPOSE: GENERAL OPERATING FUNDS | $100 |
Endowment Analysis
| Beg. Balance | $11,133,747 |
| Earnings | -$1,094,652 |
| Admin Expense | $41,224 |
| Net Contributions | $66,509 |
| Other Expense | $489,000 |
| Ending Balance | $9,575,380 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pbs Foundation Arlington, VA | $37,997,942 | $17,786,379 |
Indianapolis Symphony Orchestra Foundation Inc Indianapolis, IN | $120,040,413 | $10,534,808 |
Virginia Foundation For Public Media Richmond, VA | $185,376,659 | $5,025,363 |
Commonwealth Fund For Ket Inc Lexington, KY | $35,205,433 | $8,912,254 |
St Louis Art Museum Foundation St Louis, MO | $296,394,608 | $22,752,701 |
Minnetrista Cultural Foundation Inc Muncie, IN | $19,419,646 | $5,083,805 |
Toledo Alliance For The Performing Arts Toledo, OH | $24,676,048 | $6,839,703 |
Memphis Brooks Museum Of Art Inc Memphis, TN | $44,232,792 | $7,821,496 |
Air Force Museum Foundation Inc Wright Patterson Afb, OH | $28,184,823 | $8,102,292 |
Conner Prairie Foundation Inc Fishers, IN | $182,758,575 | $6,601,081 |
John L Severance Brooklyn, OH | $58,165,574 | $2,331,201 |
Centennial Park Conservancy Nashville, TN | $5,267,235 | $2,768,009 |