2026-04-30T13:27:39+00:00 2025-06-30 440160260 Forvis Mazars LLP 312 Walnut Street Suite 3000 Cincinnati OH 45202 990 2024-07-01 611351918 KENTUCKY COMMUNITY AND TECHNICAL COLLEGE SYSTEM FOUNDATION INC KENT 8592563100 300 NORTH MAIN STREET VERSAILLES KY 40383 DR MEGAN STITH EXECUTIVE DIRECTOR 2026-04-30 true true Aaron Hershberger P00961884 5136218300 2026-02-12 2024 2025-03-06 01:10:19Z DR MEGAN STITH 300 NORTH MAIN STREET VERSAILLES KY 40383 1935526 false X HTTPS://KCTCSFOUNDATION.ORG X 1999 KY THE FOUNDATION SERVES AS THE NON-PROFIT FUNDRAISING ARM OF KCTCS; IS A CATALYST AND LEADER OF RESOURCE DEVELOPMENT INITIATIVES THAT SUPPORT THE STRATEGIC PLAN OF KCTCS TO MEET THE NEEDS OF ITS STAKEHOLDERS. 17 17 0 17 0 6731883 1921493 0 0 18117 14033 0 0 6750000 1935526 1070382 2432480 0 0 0 0 0 0 0 73579 47744 1143961 2480224 5606039 -544698 21975662 23404429 2478999 2402840 19496663 21001589 THE FOUNDATION SERVES AS THE NON-PROFIT FUNDRAISING ARM OF KCTCS; IS A CATALYST AND LEADER OF RESOURCE DEVELOPMENT INITIATIVES THAT SUPPORT THE STRATEGIC PLAN OF KCTCS TO MEET THE NEEDS OF ITS STAKEHOLDERS. false false 2436996 2432480 0 THE ORGANIZATION PROVIDES FUNDRAISING AND SUPPORT FOR THE KENTUCKY COMMUNITY & TECHNICAL COLLEGE SYSTEM. THE SYSTEM OPERATES 16 COLLEGES AND MORE THAN 70 CAMPUSES. 2436996 true true false false false false false false true true true false false false false true true false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false true 7 0 true 0 false false false false false false false false false false false false X 17 17 false false true false false true false true true false false false true true true true true true false false false false KY X DR MEGAN STITH 8592563331 300 NORTH MAIN STREET VERSILES KY 40383 X Dr Megan Stith EXECUTIVE DIRECTOR 0.4 0.0 X X 0 0 0 Linda Rumpke TREASURER 0.3 0.0 X X 0 0 0 Nick Phelps SECRETARY 0.3 0.0 X X 0 0 0 STEPHANIE BELL CHAIR 0.3 0.0 X X 0 0 0 Adam Marley Trustee 0.1 0.0 X 0 0 0 Anne-Tyler Morgan TRUSTEE 0.1 0.0 X 0 0 0 BARRY MARTIN TRUSTEE - KCTCS BOARD CHAIR 0.1 0.0 X 0 0 0 BRANDON FOGLE TRUSTEE 0.1 0.0 X 0 0 0 Chadwick Harpole TRUSTEE 0.1 0.0 X 0 0 0 CHRIS PERRY TRUSTEE 0.1 0.0 X 0 0 0 David Kloiber TRUSTEE 0.1 0.0 X 0 0 0 Dr Laura McCullough TRUSTEE 0.1 0.0 X 0 0 0 Dr Ryan Quarles TRUSTEE - KCTCS PRESIDENT 0.1 0.0 X 0 0 0 FRANK JEMLEY III TRUSTEE 0.1 0.0 X 0 0 0 JOHN GOHMANN TRUSTEE 0.1 0.0 X 0 0 0 Lourdes Baez TRUSTEE 0.1 0.0 X 0 0 0 William Keith TRUSTEE 0.1 0.0 X 0 0 0 0 0 0 0 false false false 0 0 0 0 0 0 1921493 0 1921493 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14033 0 0 14033 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1935526 0 0 14033 0 0 2432480 2432480 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10690 0 10690 0 31817 0 31817 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9795 0 9795 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5606 0 5606 0 OTHER PROGRAM EXPENSES 4516 4516 0 0 MISCELLANEOUS EXPENSES -14680 0 -14680 0 0 0 0 0 2480224 2436996 43228 0 1091916 330461 769272 381502 1021785 431707 0 0 0 0 0 0 0 0 0 0 0 3868 23786 23786 0 0 19079189 22251632 0 0 0 0 13500 5259 21975662 23404429 17759 10354 0 0 0 0 0 0 2461240 2392486 0 0 0 0 0 0 0 0 2478999 2402840 X 1286704 990523 18209959 20011066 0 0 0 0 0 0 19496663 21001589 21975662 23404429 X -544698 2422386 0 0 -372762 0 X false true true false X 2641129 5949320 4084835 6731883 1921493 21328660 0 0 0 0 0 0 0 0 0 0 0 0 2641129 5949320 4084835 6731883 1921493 21328660 72665 21255995 1301 1020 3617 18117 14033 38088 0 0 0 0 0 0 0 0 0 0 0 0 21366748 0 0.99482 0.97515 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 3022841 12665 441908 0 0 0 3477414 2576155 0 446686 0 0 0 3022841 2266934 3365 305856 0 0 0 2576155 2587466 13447 -333979 0 0 0 2266934 2008304 32693 546469 0 0 0 2587466 0.237 0.292 0.471 false false 0 0 0 0 0 0 0 0 0 0 0 0 23786 23786 0 0 0 0 0 0 0 X 4480711 2422386 122799 0 0 2545185 1935526 0 0 0 1935526 2603023 122799 0 0 0 122799 2480224 0 0 0 2480224 Schedule D, Part IV, Line 2b Explanation of escrow agreement Funds held for others represent resources in the possession of, but not under the control of, the Foundation. In May 2021, the Foundation and the Southeast Education Foundation (Southeast Foundation) entered into a temporary investment fund agreement in which the Foundation receives and invests Southeast Foundation's funds with the Foundation's investment manager, Commonfund, on behalf of Southeast Foundation until Southeast Foundation secures its 501(c)(3) designation with the IRS, at which time the Southeast Foundation will be eligible to open a Commonfund account and the Foundation will transfer ownership of the fund to the Southeast Foundation. The amount held in investments for the Southeast Foundation as of June 30, 2025, were $1,508,411. In May 2021, the Foundation entered into an agreement with the Elizabethtown Community and Technical College (College) whereby the Foundation performs fundraising and related activities for the College. Such activities are not included in the Foundation's statement of activities, as these activities represent agency transactions. As of June 30, 2025, the Foundation had $202,368 held in cash for the Kentucky Community and Technical College System (System). During the year ended June 30, 2025, the net decrease in cash held for the System was $185,985. Schedule D, Part V, Line 4 Intended uses of endowment funds THE FINANCIAL AND INVESTMENT OBJECTIVES FOR THE ENDOWMENT FUND ARE INTENDED TO ACCOMPLISH THE PRIMARY GOAL OF PRESERVING OR INCREASING THE PURCHASING POWER OF PRINCIPAL AND INCOME BY MAXIMIZING REAL TOTAL RETURN (ADJUSTED FOR INFLATION), SUBJECT TO RISK CONSTRAINTS, AND TO ACHIEVE FINANCIAL EQUILIBRIUM BY BALANCING ANNUAL SPENDING AND REAL TOTAL RETURN THIS WILL ENHANCE THE FOUNDATION'S ABILITY TO MEET CHANGING STATE NEEDS IN BOTH THE SHORT- AND LONG TERM. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501 OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF STATE LAW. HOWEVER, THE FOUNDATION IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. THE FOUNDATION FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. true Evolve502 862 2312471 Kentucky Colonels 37 79400 Xometry Machinist & Technician 5 18444 Toyota Motor Mfg KY School 6 12000 Herff Jones 5 5000 General Scholarship Fund 3 3000 Ascendium 1 1165 Hand up 2 1000 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds THE FOUNDATION'S ADMINISTRATION FOLLOWS THE POLICY ON FINANCIAL MANAGEMENT FOR EXPENDITURES UNDER CASH MANAGEMENT IN ACCORDANCE WITH THE REVISION OF THE FINANCIAL POLICY ON JULY 16, 2020. THE FOUNDATION'S OFFICERS ARE AUTHORIZED TO SIGN ON BEHALF OF THE FOUNDATION ANY AND ALL CHECKS, DRAFTS, ACCEPTANCES, AND OTHER INSTRUMENTS FOR THE PAYMENT OR WITHDRAWAL OF FUNDS AT ANY TIME HELD BY THE FOUNDATION'S DEPOSITORY BANK FOR THE ACCOUNT OF THE FOUNDATION IN ACCORDANCE WITH THE FOLLOWING APPROVALS AND CONDITIONS: 1) AUTHORIZATIONS FOR ANY AMOUNT FROM A DONOR-RESTRICTED ACCOUNT REQUIRES A. TWO OFFICER INTERNAL APPROVALS TO ENSURE TRANSACTION MEETS DONOR RESTRICTIONS AND DONOR INTENT, AND B. ONE OFFICER APPROVAL BY (BANK) CHECK OR ELECTRONIC TRANSFER AUTHORIZATION. 2) AUTHORIZATIONS FOR ANY AMOUNT FROM ANY ACCOUNT PREVIOUSLY APPROVED BY THE BOARD THROUGH AN ANNUAL BUDGETING PROCESS REQUIRES A. ONE OFFICER APPROVAL INTERNALLY, AND B. ONE OFFICER APPROVAL BY (BANK) CHECK OR ELECTRONIC TRANSFER AUTHORIZATION. 3)AUTHORIZATIONS FOR $0 TO $5,000, NOT COVERED BY THE ABOVE CONDITIONS, REQUIRES A. ONE OFFICER APPROVAL INTERNALLY, AND B.ONE OFFICER APPROVAL BY (BANK) CHECK OR ELECTRONIC TRANSFER AUTHORIZATION. 4) AUTHORIZATIONS FOR $5,000 TO $25,000, NOT COVERED BY THE ABOVE CONDITIONS, REQUIRES A. TWO OFFICER APPROVALS INTERNALLY, AND B.ONE OFFICER APPROVAL BY (BANK) CHECK OR ELECTRONIC TRANSFER AUTHORIZATION. 5) AUTHORIZATIONS ABOVE $25,000 NOT COVERED BY THE ABOVE CONDITIONS, REQUIRES A. INTERNAL APPROVAL BY THE FOUNDATION BOARD OF TRUSTEES, AND B. ONE OFFICER APPROVAL BY (BANK) CHECK OR ELECTRONIC TRANSFER AUTHORIZATION. Form 990, Part VI, Line 1a Material differences in voting rights KENTUCKY COMMUNITY AND TECHNICAL COLLEGE SYSTEMS FOUNDATION SHALL HAVE AN EXECUTIVE COMMITTEE CONSISTING OF THE ELECTED OFFICERS OF THE BOARD OF DIRECTORS, THE IMMEDIATE PAST CHAIR, THE EXECUTIVE DIRECTOR, ANDTHE KENTUCKY COMMUNITY AND TECHNICAL COLLEGE SYSTEMS PRESIDENT. THE EXECUTIVE COMMITTEE MAY EXERCISE ALL THE POWERS OF THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE BOARD. Form 990, Part VI, Line 4 Significant changes to organizational documents The organization revised its bylaws in May 2025. Those revisions include: -INCREASING THE MINIMUM NUMBER OF BOARD MEMBERS FROM 6 TO 14. -EXTENDING THE TERM FOR THE EX-OFFICIO VOTING MEMBER APPOINTED BY THE PRESIDENT OF KCTCS FROM 1 YEAR TO 2 YEARS. -ADDING THE ELECTION OF AN EX-OFFICIO MEMBER BY ELIZABETHTOWN COMMUNITY AND TECHNICAL COLLEGE. -CLARIFYING THAT EX-OFFICIO MEMBERS SHALL SERVE ONLY FOR THE PERIODS DURING WHICH THEY HOLD THEIR RESPECTIVE OFFICES, EVEN IF OTHERWISE APPOINTED FOR A ONE (1) YEAR TERM. - Removal of the Board of Trustees ability to establish an Advisory Board consisting of representatives from the independent foundations that have been established to support particular KCTCS colleges and that are recognized in accordance with the Policy for the Recognition of Independent Foundations approved by the KCTCS Board of Regents on June 18, 1999. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body One (1) ex-officio, voting member shall be the current chair of the KCTCS Board of Regents. One (1) ex-officio, voting member shall be the current President of KCTCS. One (1) ex-officio, voting member shall be appointed for a two (2) year term by the President of KCTCS and shall be the President or Director of one of the KCTCS colleges. The Executive Director of the KCTCS Foundation shall be an ex-officio, voting member of the Board. ne (1) ex-officio voting member shall be elected by the Elizabethtown Community and Technical College Foundation board for a two (2) year term. Form 990, Part VI, Line 11b Review of form 990 by governing body THE EXECUTIVE DIRECTOR OR STAFF PROVIDES AN ELECTRONIC COPY OF THE FOUNDATION'S 990 TO EACH DIRECTOR FOR REVIEW TO IDENTIFY ANY CONCERNS THE DIRECTOR MAY HAVE. A DEADLINE FOR REVIEW WILL BE SET. DIRECTORS WILL REVIEW THE 990 AND ANY QUESTIONS/CONCERNS THEY HAVE WILL BE ADDRESSED BEFORE THE 990 IS FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy THE FOUNDATION'S CONFLICT OF INTEREST POLICY IS REVIEWED ON AN ANNUAL BASIS. A COPY IS AVAILABLE UPON REQUEST. EACH DIRECTOR IS ASKED TO ANSWER A SERIES OF QUESTIONS AND SIGN THE CONFLICT OF INTEREST STATEMENT. IF THERE IS A CONFLICT OF INTEREST ON A VOTE, THE DIRECTOR WHO HAS THE CONFLICT ABSTAINS FROM VOTING. Form 990, Part VI, Line 19 Required documents available to the public THE FOUNDATION'S GOVERNING DOCUMENTS, POLICY STATEMENTS ON CONFLICT OF INTEREST, ETHICAL CONDUCT, AND CONFIDENTIALITY AS WELL AS FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. Form 990, Part XI, Line 9 Other changes in net assets or fund balances DONATED SERVICES AND SPACE - 122799; DONATED SERVICES AND SPACE - -122799;