2025-08-15T10:34:44-05:00 2024-09-30 882730877 CHERRY BEKAERT ADVISORY LLC 101 SOUTH 5TH STREET STE 2100 LOUISVILLE KY 40202 990 2023-10-01 610713833 KENTUCKY DERBY FESTIVAL INC KENT 5025846383 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 MATT GIBSON PRESIDENT/CEO 5025846383 2025-08-14 1 1 STEPHANIE LEW P01080011 8885871719 2023 2025-03-06 01:10:19Z MATT GIBSON 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 8744776 0 X WWW.KDF.ORG X 1957 KY PROVIDE KENTUCKY DERBY FESTIVAL EVENTS TO PROMOTE SOCIAL WELFARE IN THE GREATER LOUISVILLE AREA. 67 66 26 4000 0 0 0 0 7158558 7971214 71669 248039 14394 33870 7244621 8253123 97500 60000 0 0 1696570 1937093 0 0 1137953 5832290 6119026 7626360 8116119 -381739 137004 5705840 6291584 2787501 2618725 2918339 3672859 X 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. 0 0 5573348 60000 8031351 PROVIDED KENTUCKY DERBY FESTIVAL EVENTS, INCLUDING THUNDER OVER LOUISVILLE, PEGASUS PARADE, BASKETBALL GAME, STEAMBOAT RACE, ETC. TO PROMOTE SOCIAL WELFARE IN THE GREATER LOUISVILLE AREA AND THROUGHOUT THE STATE. 5573348 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 24 0 1 26 1 0 0 0 0 0 0 0 0 X 67 66 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 KY X TIM WHITTEN 5025723832 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 MATTHEW GIBSON PRESIDENT & CEO 35.00 5.00 X X 210743 0 10580 ERIN RASINEN CHAIR 3.00 0.50 X X 0 0 0 KEN SELVAGGI IMMEDIATE PAST CHAIR 3.00 0.50 X X 0 0 0 ALFONSO CORNISH CHAIR-ELECT 3.00 0.50 X X 0 0 0 LOUIS WATERMAN SECRETARY 3.00 0.00 X X 0 0 0 BILL FISHER TREASURER 3.00 0.00 X X 0 0 0 CRYSTAL ANDERSON BOARD MEMBER 3.00 0.00 X 0 0 0 STEVE ANDRIOT BOARD MEMBER 3.00 0.00 X 0 0 0 COL JOHN AUBREY BOARD MEMBER 3.00 0.00 X 0 0 0 PHILLIP BAKER BOARD MEMBER 3.00 0.00 X 0 0 0 TRACEY BALLARD BOARD MEMBER 3.00 0.00 X 0 0 0 DAVID BECK BOARD MEMBER 3.00 0.00 X 0 0 0 JILL BELL BOARD MEMBER 3.00 0.00 X 0 0 0 DAVID BINGHAM BOARD MEMBER 3.00 0.00 X 0 0 0 TYLER BLISS BOARD MEMBER 3.00 0.00 X 0 0 0 MIKE CAMPBELL BOARD MEMBER 3.00 0.00 X 0 0 0 PAUL CARROLL BOARD MEMBER 3.00 0.00 X 0 0 0 JANICE CATES BOARD MEMBER 3.00 0.00 X 0 0 0 JASON CHIN BOARD MEMBER 3.00 0.00 X 0 0 0 CAROLLE CLAY BOARD MEMBER 3.00 0.00 X 0 0 0 NATASHA COLLINS BOARD MEMBER 3.00 0.00 X 0 0 0 LISA COLUMBIA BOARD MEMBER 3.00 0.00 X 0 0 0 DEREK COWHERD BOARD MEMBER 3.00 0.00 X 0 0 0 J DELANEY BOARD MEMBER 3.00 0.00 X 0 0 0 WILL DONALDSON BOARD MEMBER 3.00 0.00 X 0 0 0 GARY FRIEDMAN BOARD MEMBER 3.00 0.00 X 0 0 0 LES FUGATE BOARD MEMBER 3.00 0.00 X 0 0 0 MIKE GANDOLFO BOARD MEMBER 3.00 0.00 X 0 0 0 LANCE GEORGE BOARD MEMBER 3.00 0.00 X 0 0 0 CYNTHIA GOLDSBERRY BOARD MEMBER 3.00 0.00 X 0 0 0 MARINA GONZALEZ BOARD MEMBER 3.00 0.00 X 0 0 0 ALLISON GOUSHA BOARD MEMBER 3.00 0.00 X 0 0 0 JO GRAVES BOARD MEMBER 3.00 0.50 X 0 0 0 ROBERT HECHT BOARD MEMBER 3.00 0.00 X 0 0 0 DARREN HOBBS BOARD MEMBER 3.00 0.00 X 0 0 0 CASSIDY HYDE BOARD MEMBER 3.00 0.00 X 0 0 0 MARY IRBY-JONES BOARD MEMBER 3.00 0.00 X 0 0 0 BRIANA LATHON BLUFORD BOARD MEMBER 3.00 0.00 X 0 0 0 JANET LIVELY MCCAULEY BOARD MEMBER 3.00 0.00 X 0 0 0 ANN MALDINI BOARD MEMBER (THRU 4/24) 3.00 0.00 X 0 0 0 MIKE MANGEOT BOARD MEMBER 3.00 0.00 X 0 0 0 TIM MCGURK BOARD MEMBER 3.00 0.00 X 0 0 0 MELANIE MILLER BOARD MEMBER (THRU 6/24) 3.00 0.00 X 0 0 0 ANDY MURPHY BOARD MEMBER 3.00 0.00 X 0 0 0 SARAH NEFF BOARD MEMBER 3.00 0.00 X 0 0 0 DWIGHT NEWTON BOARD MEMBER 3.00 0.00 X 0 0 0 CAROL NORD BOARD MEMBER 3.00 0.00 X 0 0 0 JOHN O'BRIEN BOARD MEMBER 3.00 0.00 X 0 0 0 JASON O'DANIEL BOARD MEMBER 3.00 0.00 X 0 0 0 MIKE PARRINO BOARD MEMBER 3.00 0.00 X 0 0 0 BARBARA PORTER BOARD MEMBER 3.00 0.00 X 0 0 0 LESLIE RAEBER-EBERLE BOARD MEMBER 3.00 0.00 X 0 0 0 CASEY RAMAGE BOARD MEMBER 3.00 0.00 X 0 0 0 DEBBIE ROBERSON BOARD MEMBER 3.00 0.00 X 0 0 0 DONNA SALAS BOARD MEMBER 3.00 0.00 X 0 0 0 RYAN SIENKOWSKI BOARD MEMBER 3.00 0.00 X 0 0 0 MARIA SMITH BOARD MEMBER 3.00 0.00 X 0 0 0 MEGAN THOBEN BOARD MEMBER 3.00 0.00 X 0 0 0 CORENZA TOWNSEND BOARD MEMBER 3.00 0.00 X 0 0 0 NANCY TRAFTON BOARD MEMBER 3.00 0.00 X 0 0 0 DAVID VOGEL BOARD MEMBER 3.00 0.00 X 0 0 0 CHAD WAGGONER BOARD MEMBER 3.00 0.00 X 0 0 0 JOEY WAGNER BOARD MEMBER 3.00 0.00 X 0 0 0 JUSTIN WALKER BOARD MEMBER 3.00 0.00 X 0 0 0 DAN WASSERZUG BOARD MEMBER 3.00 0.00 X 0 0 0 KELLIE WATSON BOARD MEMBER 3.00 0.00 X 0 0 0 REBECCA WOOD BOARD MEMBER 3.00 0.00 X 0 0 0 DALE WOODS BOARD MEMBER 3.00 0.00 X 0 0 0 STACEY YATES BOARD MEMBER 3.00 0.00 X 0 0 0 BRIAN WALTERS BOARD MEMBER (THRU 6/24) 3.00 0.00 X 0 0 0 MERILYN COSLOW BOARD MEMBER (THRU 6/24) 3.00 0.00 X 0 0 0 TIMOTHY WHITTEN CHIEF FINANCIAL OFFICER 35.00 5.00 X 91808 0 10580 APRIL ZIK MARKETING MANAGER 40.00 0.00 X 169095 0 10580 JESSICA POLLIO SPONSORSHIP MGR. 40.00 0.00 X 101033 0 10580 JOANNIE LEPPING GILLIS SPONSORSHIP MGR. 40.00 0.00 X 118048 0 10580 690727 0 52900 4 0 1 0 VIMARC 1205 E WASHINGTON ST LOUISVILLE KY 40206 ADVERTISING 573948 ZAMBELLI INTERNATIONAL 120 MARSHALL WARRENDALE PA 15086 FIREWORKS 297000 THE GALT HOUSE 140 N 4TH ST LOUISVILLE KY 40202 HOTEL/CATERING 196361 VISUAL PRESENTATIONS 6410 REGAL RD LOUISVILLE KY 40204 SHOW PRODUCTION 183029 CED 1014 E BROADWAY LOUISVILLE KY 40204 A/V SERVICES 153859 5 FESTIVAL EVENTS 900099 6316367 6316367 CORPORATE MEMBERSHIPS 900099 1654847 1654847 7971214 115241 115241 552500 419702 132798 132798 132798 14985 41252 -26267 -26267 90836 30699 60137 60137 8253123 8031351 0 221772 X 60000 60000 519426 123156 253220 143050 1130650 268077 551192 311381 161820 38367 78888 44565 125197 29684 61034 34479 23847 23847 32763 32763 382287 303139 79148 648476 648476 90045 67227 22818 162240 53410 95801 13029 147982 131876 16106 20555 18206 2349 54499 54499 48730 11554 23756 13420 162217 125862 36355 EVENT EQUIPMENT & SUPPL 896449 896449 OTHER PROGRAM COSTS 851836 851836 HOSPITALITY, ENTERTAINM 622517 622517 SOUND AND AUDIO 354926 354926 1619657 968586 73042 578029 8116119 5573348 1404818 1137953 1115641 910675 248167 516919 33750 82906 5501 2001 79762 93990 1882470 1465951 465249 416519 3338282 3934604 185194 100292 234294 233678 5705840 6291584 32282 123929 520925 312456 2234294 2182340 2787501 2618725 X 2918339 3672859 2918339 3672859 5705840 6291584 137004 617516 0 X X 0 1 X 1 0 104790 104790 1154354 880297 274057 623326 585654 37672 416519 POST EMPLOYMENT BENEFIT PAYABLE 233678 SBA LOAN 1948662 2182340 X 8909827 617516 71951 689467 8220360 32763 32763 8253123 8155307 71951 71951 8083356 32763 32763 8116119 PART X, LINE 2: THE FESTIVAL EVALUATES UNCERTAIN INCOME TAX POSITIONS USING A MORE LIKELY THAN NOT APPROACH AND RECOGNIZES INTEREST RELATED TO UNCERTAINTIES IN INCOME TAXES, IF ANY, IN INTEREST EXPENSE IN THE STATEMENT OF ACTIVITIES. NO LIABILITY FOR UNCERTAIN TAX POSITIONS HAS BEEN REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: GAMING EXPENSES 41,252. COST OF GOODS SOLD 30,699. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAMING EXPENSES 41,252. COST OF GOODS SOLD 30,699. 14985 11022 30230 0 14985 11022 30230 41252 -26267 KY 1 0 0 0 1.00000 TIMOTHY A WHITTEN 1001 S THIRD STREET LOUISVILLE KY 40203 0 TIMOTHY A WHITTEN MANAGED THE OVERALL OPERATION OF THE GAME FROM REGISTRATION TO CLEANING UP AFTERWARD. X 0 1 KENTUCKY DERBY FESTIVAL FOUNDATION 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 311629357 501(C)(3) 60000 0 TO FUND EVENTS AND PROVIDE GENERAL SUPPORT 1 0 PART I, LINE 2: RECIPIENT ORGANIZATION IS A RELATED ORGANIZATION WITH SOME COMMON BOARD MEMBERS. THEREFORE, THE ORGANIZATION'S USE OF THE FUNDS IS CLOSELY MONITORED WHEN REVIEWING FINANCIAL REPORTS OF BOTH ENTITIES. X X X 0 0 0 0 0 0 0 0 0 MATTHEW GIBSON PRESIDENT & CEO 185743 0 25000 0 0 0 0 0 10580 0 221323 0 0 0 APRIL ZIK MARKETING MANAGER 169095 0 0 0 0 0 0 0 10580 0 179675 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE RETURN IS REVIEWED FIRST BY INTERNAL MANAGEMENT. AFTER INTERNAL MANAGEMENT HAS REVIEWED THE RETURN AND ANY CHANGES ARE MADE A DRAFT IS PROVIDED TO THE EXECUTIVE COMMITTEE FOR REVIEW AND APPROVAL. ONCE THE COMMENTS FROM THE EXECUTIVE BOARD ARE REVIEWED THE FINAL DRAFT OF THE RETURN IS PROVIDED TO THE ENTIRE BOARD AND SIGNED BY THE SIGNING OFFICER. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF THE BOARD OF DIRECTORS SHALL ANNUALLY SIGN A STATEMENT WHICH STATES THEY HAVE RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAVE READ AND UNDERSTAND THE POLICY, AGREED TO COMPLY WITH THE POLICY, AND UNDERSTAND THE ORGANIZATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. THE AUDIT COMMITTEE OF THE ORGANIZATION SHALL BE TASKED WITH REVIEWING AND MAKING DETERMINATIONS ON ALL ACTUAL OR POSSIBLE CONFLICTS OF INTEREST. THE AUDIT COMMITTEE SHALL REPORT ITS FINDINGS TO THE EXECUTIVE BOARD OF THE ORGANIZATION. IF A DETERMINATION CANNOT BE MADE BY THE AUDIT COMMITTEE, THE EXECUTIVE BOARD SHALL MAKE A FINAL DETERMINATION ON THE ISSUE. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. PERIODIC REVIEW WILL BE MADE TO ENSURE THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS. THE ORGANIZATION TERMINATES ALL ACTUAL OR POSSIBLE CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION REVIEWS COMPARATIVE SALARY INFORMATION PROVIDED BY THE INTERNATIONAL FESTIVAL AND EVENTS ASSOCIATION. THE COMPENSATION COMMITTEE APPROVES THE PRESIDENT/CEO'S SALARY BASED OFF OF THE INFORMATION OBTAINED. THE PRESIDENT/CEO AND THE EXECUTIVE BOARD CONSIDERS EXPERIENCE AND YEARLY EVALUATIONS AND APPROVES THE COMPENSATION FOR ALL OTHER OFFICERS. FORM 990, PART VI, SECTION C, LINE 19 AUDITED FINANCIALS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AT THE FILING ORGANIZATION'S OFFICE. FORM 990, PART IX, LINE 24E SPONSOR BENEFITS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 346,880. TOTAL EXPENSES 346,880. EQUIPMENT RENTAL: PROGRAM SERVICE EXPENSES 300,960. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 300,960. COMMISSIONS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 231,149. TOTAL EXPENSES 231,149. UNIFORMS AND APPAREL: PROGRAM SERVICE EXPENSES 162,848. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 162,848. SITE RENTAL: PROGRAM SERVICE EXPENSES 113,479. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 113,479. SECURITY: PROGRAM SERVICE EXPENSES 111,881. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 111,881. BARRICADES: PROGRAM SERVICE EXPENSES 110,126. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 110,126. AWARDS: PROGRAM SERVICE EXPENSES 102,771. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 102,771. BANNERS AND DECORATIONS: PROGRAM SERVICE EXPENSES 61,124. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 61,124. OTHER ADMIN COSTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 33,065. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 33,065. EDUCATION AND TRAINING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 23,495. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 23,495. DUES AND SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 5,397. MANAGEMENT AND GENERAL EXPENSES 8,036. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 13,433. VEHICLE OPERATION: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 8,446. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,446. FORM 990, PAGE 12, PART XII, LINE 2C THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT OVERSEES THE SELECTION OF THE INDEPENDENT ACCOUNTANT AND OVERSEES THE AUDIT. THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE YEAR. KENTUCKY DERBY FESTIVAL FOUNDATION 1001 SOUTH THIRD STREET LOUISVILLE KY 40203 311629357 PROMOTING AND DEVELOPING THE INTEREST OF THE GENERAL PUBLIC. KY 501(C)(3) LINE 10 KENTUCKY DERBY FESTIVAL INC 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 KENTUCKY DERBY FESTIVAL FOUNDATION Q 70000 COST KENTUCKY DERBY FESTIVAL FOUNDATION B 60000 FMV