Kentucky Baptist Assemblies INC FY2021 filing

Tax-deductible

Louisville, KY501(c)(3)Since 1997ReligionEIN 31-1537445Revenue $1.0M in FY2021

On file with the IRSgocrossings.org13420 Eastpoint Centre Dr, 40223-4160 · Louisville, KYTax-exempt since Aug 1997Publicly supported — 509(a)(2)

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To create experiences to proclaim the gospel. To provide facilities and services in an environment conducive for the conduct of events focused on evangelism, worship, religious education, and christian fellowship.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$80K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $1.1M a year · 15% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$80K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 8.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $20K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6.4M
30% of total assets
Looks good: liabilities are 30% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
-85% vs prior year
Spent
$2.9M
To programs
73%
Net assets
$15.0M
By yearFY2020–FY2024
Revenue
$1.0M
FY2021▼ -85%
Tap a bar for its year
Revenue by fiscal year
FY2020$6.9M
FY2021$1.0M
FY2021$7.1M
FY2022$8.4M
FY2023$10.3M
FY2024$11.4M
Expenses
$2.9M
FY2021▼ -52%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.9M
FY2021$2.9M
FY2021$4.5M
FY2022$6.6M
FY2023$8.0M
FY2024$9.1M
Net assets
$15.0M
FY2021▼ -11%
Tap a bar for its year
Net assets by fiscal year
FY2020$16.8M
FY2021$15.0M
FY2021$17.6M
FY2022$19.5M
FY2023$21.8M
FY2024$24.1M

From the FY2021 Form 990 (year ending March 2021) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1997.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $2.1M Management & general 25% · $723K Fundraising 2% · $44K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990; $80K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President / CEO
$79,990Pt VII · Sec A
Vice-Chairman
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Secretary / Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A

Lance Howerton’s $144K as President / CEO is at the 23rd percentile of top reported officer pay among 224 $10–100M religion nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2021FY2020
Lance Howerton$144,259$135,799$108,893$127,527$79,990$117,805
Daniel Talcott$133,631$117,648$110,216$129,464—$109,628

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Hosts events for evangelism, worship, education, and fellowship.

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Provided by the organization

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3 programs · $2.1M · in their own filed words · FY2020
01

Cedarmore camp and conference center offers a variety of housing, conference space, and recreation possibilities for groups as large as 800 in a christian environment.

$1.1Mprogram expense
02

Jonathan creek camp and conference center offers a variety of housing, conference space,and recreation possibilities for groups as large as 780 in a christian environment.

$956Kprogram expense
03

Day camp and travel camps. Day camps and travel camps provide similar christian evangelistic, worship, and fellowship opportunities in the city of louisville and other locations outside of our traditional properties.

$13Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$20K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.0M
Ln 12
Gifts and grantsLn 1h$762K
Other incomeLn 4–11$160K
Fees for servicesLn 2g$98K
Money outPt IX
$2.9M
Ln 25
Programscol B$2.1M
Managementcol C$723K
Fundraisingcol D$44K
Owns and owesPt X
$15.0M
net assets · Ln 32
Cash and savingsLn 1–2$2.1M
Total assetsLn 16$21.3M
LiabilitiesLn 26$6.4M
PeoplePt VI, VII
14
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$762K
Fees for servicesLn 2g$98K
Investment incomeLn 3$5K
Other incomeLn 4–11$160K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$1.9M
SavingsLn 2$262K
Cash and savings togetherLn 1–2$2.1M
InvestmentsLn 11–13$150K
Land, buildings, equipmentLn 10c$18.7M
Total assetsLn 16$21.3M
LiabilitiesLn 26$6.4M
Net assetsLn 32$15.0M
OperationsPt I, VI
EmployeesI 5186
VolunteersI 650
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$3.2M$2.1M
InvestmentsLn 11–13$114K$150K
Land, buildings, equipmentLn 10c$19.2M$18.7M
Total assetsLn 16$22.6M$21.3M
LiabilitiesLn 26$5.8M$6.4M
Net assetsLn 32$16.8M$15.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$170K$170K
Other salaries and wagesLn 7$781K$543K$199K$39K
Accounting feesLn 11c$31K$1K$30K
Advertising and promotionLn 12$15K$8K$7K
Office expensesLn 13$60K$5K$55K
OccupancyLn 16$264K$236K$28K
TravelLn 17$9K$8K$909
InterestLn 20$185K$179K$6K
Depreciation, depletion and amortizationLn 22$783K$720K$63K
InsuranceLn 23$124K$93K$31K
Other expenses (24a–d)Ln 24$287K$216K$72K
All other expensesLn 24e$171K$107K$60K$5K
Total functional expensesLn 25$2.9M$2.1M$723K$44K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $11.4M$9.1M$2.3M$24.1M 990 PDF
FY2023 $10.3M$8.0M$2.3M$21.8M 990 PDF
FY2022 $8.4M$6.6M$1.9M$19.5M 990 PDF
FY2021 Viewing $1.0M$2.9M−$1.9M$15.0M 990 PDF
FY2020 $6.9M$5.9M$961K$16.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $1,024,651 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $661,156$762,070
I-9 Program service revenuePrior year $6,213,329$97,706
I-10 Investment incomePrior year $18,889$4,936
I-11 Other revenuePrior year $10,796$159,939
I-12 Total revenuePrior year $6,904,170$1,024,651
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,903,156$951,194
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $4,039,880$1,929,666
I-18 Total expensesPrior year $5,943,036$2,880,860
I-19 Revenue less expensesPrior year $961,134−$1,856,209
Part VI · Governance 11 of 11 board members independent, 1 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,024,651 across 7 lines filed
VIII-1d Related organizations$758,523
VIII-1f All other contributions, gifts and grants$3,547
VIII-1h Total contributions, gifts and grants$762,070
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $97,706$97,706
VIII-3 Investment incomeRelated to mission $4,936$4,936
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $159,939$159,939
VIII-12 Total revenueRelated to mission $262,581 · Unrelated business $0 · Excluded from tax $0$1,024,651
Part IX · Statement of functional expenses $2,880,860 across 12 lines filed
IX-5 Pay of current officers, directors and key staffManagement $170,323$170,323
IX-7 Other salaries and wagesPrograms $542,793 · Management $199,040 · Fundraising $39,038$780,871
IX-11c Accounting feesPrograms $1,489 · Management $29,550$31,039
IX-12 Advertising and promotionPrograms $7,608 · Management $7,486$15,094
IX-13 Office expensesPrograms $4,839 · Management $55,444$60,283
IX-16 OccupancyPrograms $235,710 · Management $28,092$263,802
IX-17 TravelPrograms $8,208 · Management $909$9,117
IX-20 InterestPrograms $179,239 · Management $5,907$185,146
IX-22 Depreciation, depletion and amortizationPrograms $719,681 · Management $63,441$783,122
IX-23 InsurancePrograms $92,974 · Management $30,569$123,543
IX-24 Other expenses (24a–d)Programs $215,586 · Management $71,583$287,169
IX-24e All other expensesPrograms $106,597 · Management $60,214 · Fundraising $4,540$171,351
IX-25 Total functional expensesPrograms $2,114,724 · Management $722,558 · Fundraising $43,578$2,880,860
Part X · Balance sheet $21,332,360 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $2,934,496$1,866,390
X-2 Savings and temporary cash investmentsStart of year $261,494$261,835
X-4 Accounts receivableStart of year $8,315$198,377
X-8 Inventories for sale or useStart of year $57,765$56,381
X-9 Prepaid expenses and deferred chargesStart of year $96,697$69,948
X-10c Land, buildings and equipment, netStart of year $19,173,548$18,729,172
X-12 Other securitiesStart of year $113,565$150,257
X-16 Total assetsStart of year $22,645,880$21,332,360
X-17 Accounts payable and accrued expensesStart of year $1,289,087$213,848
X-19 Deferred revenueStart of year $434,097$1,145,246
X-20 Tax-exempt bond liabilitiesStart of year $4,125,706$4,994,985
X-26 Total liabilitiesStart of year $5,848,890$6,354,079
X-27 Net assets without donor restrictionsStart of year $16,482,325$14,820,038
X-28 Net assets with donor restrictionsStart of year $314,665$158,243
X-32 Total net assets or fund balancesStart of year $16,796,990$14,978,281
X-33 Total liabilities and net assetsStart of year $22,645,880$21,332,360
Part XI · Reconciliation of net assets $14,978,281 net assets at year end
XI-1 Total revenue$1,024,651
XI-2 Total expenses$2,880,860
XI-3 Revenue less expenses−$1,856,209
XI-4 Net assets at start of year$16,796,990
XI-5 Net unrealized gains (losses) on investments$37,500
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$14,978,281

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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