Kentucky Propane Education And Research Council Inc
- Assets
- $566.5k
- Revenue
- $348.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Prospect, KY
- Founding
- 08/1999
- Data as of
- 12/2021
- EIN
- 61-1339048
Organization Overview
Kentucky Propane Education And Research Council Inc is located in Prospect, KY. The organization was established in 1999. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Propane Education And Research Council Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Kentucky Propane Education And Research Council Inc generated $348.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $310.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.4%) 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 ORG DEVELOPS CONSUMER & EMPLOYEE SAFETY TRAINING, RESEARCH & DEVELOPMENT OF CLEAN, SAFE, EFFICIENT PROPANE UTILIZATION EQUIP, AND PROVIDE PUBLIC INFO AND EDUC ABOUT SAFETY WITH THE USE OF PROPANE FOR ALL KENTUCKIANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE COMMON BUSINESS INTERESTS OF PERSONS INVOLVED IN THE PRODUCTION, TRANSPORTATION OR SALE OF PROPANE,OR IN THE MANUFACTURE OR DISTRIBUTION OF PROPANE UTILIZATION EQUIPMENT IN THE UNITED STATES BY ENHANCING SAFETY, TRAINING, RESEARCH AND DEVELOPMENT IN THE PROPANE GAS INDUSTRY FOR THE BENEFIT OF PROPANE CONSUMERS AND THE PUBLIC EDUCATION ABOUT PROPANE AND THE PROPANE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Mccants Chair Elect | OfficerTrustee | 2 | $0 |
Kelly Able Treasurer | OfficerTrustee | 2 | $0 |
Joe Baxter Chairman | OfficerTrustee | 2 | $0 |
Jim Porter Member | Trustee | 2 | $0 |
Wayne Winters Member | Trustee | 2 | $0 |
Barry Neagles Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $347,618 |
| Investment income | $1,094 |
| 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 | $348,712 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $105,382 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,894 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $92 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,033 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,776 |
| Insurance | $6,784 |
| All other expenses | $13,800 |
| Total functional expenses | $310,910 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $527,739 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,918 |
| 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 |
| Net Land, buildings, and equipment | $14,836 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $566,493 |
| Accounts payable and accrued expenses | $308 |
| 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 | $308 |
| Net assets without donor restrictions | $566,185 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $566,493 |
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