KENTUCKY DERBY FESTIVAL INC Charity Report

Public IRS 990 nonprofit record

KENTUCKY DERBY FESTIVAL INC

EIN 61-0713833 · Fairs (N52)

What they do

PROVIDE CREATIVE and UNIQUE ENTERTAINMENT and COMMUNITY SERVICE for THE PEOPLE of THE GREATER LOUISVILLE AREA THAT DIRECTLY CONTRIBUTES to THE AESTHETIC, CULTURAL, EDUCATIONAL, CHARITABLE and ECONOMIC DEVELOPMENT of THE AREA. WE WILL ORGANIZE, PROMOTE and CONDUCT EVENTS USING THE COLLECTIVE EFFORTS and RESOURCES of VOLUNTEERS, SMALL and LARGE BUSINESSES, NON-PROFIT ORGANIZATIONS and GOVERNMENTAL ENTITIES to ENHANCE THE POSITIVE INTERNATIONAL RECOGNITION, ECONOMIC and CULTURAL DEVELOPMENT, and COMMUNITY IMAGE of THE GREATER LOUISVILLE AREA.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $68.70 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2023The report may be old. Ask for a newer one.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders75 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

67.53%of revenue went to mission work68.7% of expenses · Program services

13.79%of revenue went to fundraising14.0% of expenses

$111.03spent for every $100 of revenueSpending was higher than revenue this year.

17.02%of revenue went to management and office costs17.3% of expenses

$0.84in assets for every $1 spent this yearSome assets cannot be spent right away.

1.0%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $806,203 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $221,323 for MATTHEW GIBSON (PRESIDENT & CEO). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2023

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$8,253,123

Mission workProgram services$5,573,34867.53% of revenue68.7% of expenses

ManagementOffice and general costs$1,404,81817.02% of revenue17.3% of expenses

FundraisingAsking for donations$1,137,95313.79% of revenue14.0% of expenses

Revenue left after expensesReported annual surplus$137,0041.66% of revenueShown in gray on the chart

Total expenses$8,116,11998.34% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2023CurrentExpense mix: 68.7% mission · 17.3% management · 14.0% fundraisingTotal expenses: 98.34% of revenue

2022Expense mix: 69.4% mission · 16.3% management · 14.3% fundraisingTotal expenses: 105.27% of revenue

2021Expense mix: 83.0% mission · 17.0% management · 0.0% fundraisingTotal expenses: 106.13% of revenue

2020Expense mix: 65.8% mission · 34.2% management · 0.0% fundraisingTotal expenses: 91.17% of revenue

2019Expense mix: 61.8% mission · 38.2% management · 0.0% fundraisingTotal expenses: 135.61% of revenue

2018Expense mix: 82.5% mission · 17.5% management · 0.0% fundraisingTotal expenses: 97.70% of revenue

2017Expense mix: 88.6% mission · 11.4% management · 0.0% fundraisingTotal expenses: 94.88% of revenue

2016Expense mix: 89.0% mission · 8.9% management · 2.1% fundraisingTotal expenses: 103.92% of revenue

Money in and money out

Revenue$7,309,916

Expenses$8,116,119

Annual shortfall $806,203 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$5,573,348 · 68.7% of expenses

Management and office costs$1,404,818 · 17.3% of expenses

Fundraising$1,137,953 · 14.0% of expenses

See all reported dollar amounts

Revenue$7,309,916

Expenses$8,116,119

Assets$6,850,608

Income$8,083,941

Contributions$75,000

Mission work (program services)$5,573,348

Fundraising$1,137,953

Grants given$252,500

Average grant$84,167

Management and general$1,404,818

Stocks and bonds$3,934,604

Accounting fees$23,847

Investing fees$32,763

People

Leadership and board

Tax year 2023

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

MATTHEW GIBSONPRESIDENT & CEO · 35 hrs/week $221,323Base $210,743 · Other $10,580

APRIL ZIKMARKETING MANAGER · 40 hrs/week $179,675Base $169,095 · Other $10,580

JOANNIE LEPPING GILLISSPONSORSHIP MGR. · 40 hrs/week $128,628Base $118,048 · Other $10,580

JESSICA POLLIOSPONSORSHIP MGR. · 40 hrs/week $111,613Base $101,033 · Other $10,580

TIMOTHY WHITTENCHIEF FINANCIAL OFFICER · 35 hrs/week $102,388Base $91,808 · Other $10,580

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (75)

MATTHEW GIBSONPRESIDENT & CEO

APRIL ZIKMARKETING MANAGER

JOANNIE LEPPING GILLISSPONSORSHIP MGR.

JESSICA POLLIOSPONSORSHIP MGR.

TIMOTHY WHITTENCHIEF FINANCIAL OFFICER

MERILYN COSLOWBOARD MEMBER (THRU 6/24)

MIKE GANDOLFOBOARD MEMBER

MELANIE MILLERBOARD MEMBER (THRU 6/24)

MEGAN THOBENBOARD MEMBER

MARY IRBY-JONESBOARD MEMBER

MARINA GONZALEZBOARD MEMBER

MARIA SMITHBOARD MEMBER

LOUIS WATERMANSECRETARY

LISA COLUMBIABOARD MEMBER

LESLIE RAEBER-EBERLEBOARD MEMBER

LES FUGATEBOARD MEMBER

LANCE GEORGEBOARD MEMBER

KEN SELVAGGIIMMEDIATE PAST CHAIR

KELLIE WATSONBOARD MEMBER

JUSTIN WALKERBOARD MEMBER

JOHN OBRIENBOARD MEMBER

ROBERT HECHTBOARD MEMBER

WILL DONALDSONBOARD MEMBER

TYLER BLISSBOARD MEMBER

TRACEY BALLARDBOARD MEMBER

TIM MCGURKBOARD MEMBER

STEVE ANDRIOTBOARD MEMBER

STACEY YATESBOARD MEMBER

SARAH NEFFBOARD MEMBER

RYAN SIENKOWSKIBOARD MEMBER

MIKE CAMPBELLBOARD MEMBER

REBECCA WOODBOARD MEMBER

PHILLIP BAKERBOARD MEMBER

PAUL CARROLLBOARD MEMBER

NATASHA COLLINSBOARD MEMBER

NANCY TRAFTONBOARD MEMBER

MIKE PARRINOBOARD MEMBER

MIKE MANGEOTBOARD MEMBER

JO GRAVESBOARD MEMBER

CAROLLE CLAYBOARD MEMBER

DALE WOODSBOARD MEMBER

CYNTHIA GOLDSBERRYBOARD MEMBER

CRYSTAL ANDERSONBOARD MEMBER

CORENZA TOWNSENDBOARD MEMBER

COL JOHN AUBREYBOARD MEMBER

CHAD WAGGONERBOARD MEMBER

CASSIDY HYDEBOARD MEMBER

CASEY RAMAGEBOARD MEMBER

DAN WASSERZUGBOARD MEMBER

CAROL NORDBOARD MEMBER

BRIANA LATHON BLUFORDBOARD MEMBER

BRIAN WALTERSBOARD MEMBER (THRU 6/24)

BILL FISHERTREASURER

BARBARA PORTERBOARD MEMBER

ANN MALDINIBOARD MEMBER (THRU 4/24)

ANDY MURPHYBOARD MEMBER

ALLISON GOUSHABOARD MEMBER

ERIN RASINENCHAIR

ALFONSO CORNISHCHAIR-ELECT

JILL BELLBOARD MEMBER

JASON ODANIELBOARD MEMBER

JASON CHINBOARD MEMBER

JANICE CATESBOARD MEMBER

JANET LIVELY MCCAULEYBOARD MEMBER

J DELANEYBOARD MEMBER

GARY FRIEDMANBOARD MEMBER

JOEY WAGNERBOARD MEMBER

DWIGHT NEWTONBOARD MEMBER

DONNA SALASBOARD MEMBER

DEREK COWHERDBOARD MEMBER

DEBBIE ROBERSONBOARD MEMBER

DAVID VOGELBOARD MEMBER

DAVID BINGHAMBOARD MEMBER

DAVID BECKBOARD MEMBER

DARREN HOBBSBOARD MEMBER

About this charity

Recognized since: January 1957
Location: 1001 S 3RD ST, LOUISVILLE, KY 40203-2913
County: Jefferson
In care of: MATT GIBSON
Primary officer: MATT GIBSON, PRESIDENT/CEO

How to reach them

WebsiteVisit the charity’s website Phone(502) 584-6383

Filing and classification

Latest tax year: 2023
Tax period began: October 1, 2023
Return type: 990
Tax preparer: CHERRY BEKAERT ADVISORY LLC
NTEE classification: Fairs (N52)
IRS tax category: Fairs
Grant-giving organization: Yes