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Kentucky Dairy Development Council FY2024 filing

Tax-deductible

Lexington, KY501(c)(3)Since 2005Food & AgricultureEIN 32-0146039Revenue $1.2M in FY2024

On file with the IRS176 Pasadena Drive, 40503-2900 · Lexington, KYTax-exempt since May 2006Publicly supported charity — 170(b)(1)(A)(vi)

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Organization of Dairy producers and allied Dairy industry with the goal of increasing producer knowledge of the Dairy industry and the Dairy producer.to develop a comprehensive plan to improve,promote and enhance the profitability of Kentucky Dairy farms.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $55K a year · 6% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
14 mo
of spending, in cash
Looks good: 13.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$786K
55% of total assets
Fine: liabilities are 55% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
0
of 19 voting members
Concern: none of 19 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+70% vs prior year
Spent
$1.2M
To programs
74%
Net assets
$636K
By yearFY2020–FY2025
Revenue
$1.2M
FY2024▲ +70%
Tap a bar for its year
Revenue by fiscal year
FY2020$830K
FY2021$788K
FY2022$895K
FY2023$718K
FY2024$1.2M
FY2025$622K
Expenses
$1.2M
FY2024▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$819K
FY2021$788K
FY2022$957K
FY2023$991K
FY2024$1.2M
FY2025$622K
Net assets
$636K
FY2024-0.5%
Tap a bar for its year
Net assets by fiscal year
FY2020$592K
FY2021$605K
FY2022$912K
FY2023$639K
FY2024$636K
FY2025$636K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2006.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $906K Management & general 26% · $320K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Tony Compton
Director
$0Pt VII · Sec A
Tony Cowherd
Board Member
$0Pt VII · Sec A
Jerry Gentry
Board Member
$0Pt VII · Sec A
Greg Goode
Board Member
$0Pt VII · Sec A
Dan Johnson
Board Member
$0Pt VII · Sec A
Thomas Sumner
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
See Kentucky Dairy Development Council executive salaries →

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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

Improves profitability and knowledge for Kentucky dairy farms.

Questions for Kentucky Dairy Development Council

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Provided by the organization

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1 program · in their own filed words · FY2024
01

An organization whose purpose is to educate,promote,represent dairy producers and foster an environment for growth of the kentucky dairy industry.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$1.2M
Fees for servicesLn 2g$63K
Investment incomeLn 3$2K
Money outPt IX
$1.2M
Ln 25
Programscol B$906K
Managementcol C$320K
Owns and owesPt X
$636K
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$1.4M
LiabilitiesLn 26$786K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a19
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Government grantsLn 1e$1.2M
Fees for servicesLn 2g$63K
Investment incomeLn 3$2K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$1.4M
Cash and savings togetherLn 1–2$1.4M
Land, buildings, equipmentLn 10c$3K
Total assetsLn 16$1.4M
LiabilitiesLn 26$786K
Net assetsLn 32$636K
OperationsPt I, VI
EmployeesI 58
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.1M$1.4M
Land, buildings, equipmentLn 10c$4K$3K
Total assetsLn 16$1.1M$1.4M
LiabilitiesLn 26$499K$786K
Net assetsLn 32$639K$636K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$282K$282K
Other employee benefitsLn 9$8K$8K
Payroll taxesLn 10$22K$22K
Accounting feesLn 11c$8K$8K
Advertising and promotionLn 12$32K$32K
Office expensesLn 13$19K$19K
TravelLn 17$99K$99K
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$15K$15K
Other expenses (24a–d)Ln 24$656K$656K
All other expensesLn 24e$85K$68K$17K
Total functional expensesLn 25$1.2M$906K$320K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $622K$622K$74$636K 990 PDF
FY2024 Viewing $1.2M$1.2M−$3K$636K 990 PDF
FY2023 $718K$991K−$273K$639K 990 PDF
FY2022 $895K$957K−$62K$912K 990 PDF
FY2021 $788K$788K−$23$605K 990 PDF
FY2020 $830K$819K$11K$592K 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 FY2024 990 (6 parts)
Part I · Summary $1,223,561 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $478,303$1,157,681
I-9 Program service revenuePrior year $237,631$63,391
I-10 Investment incomePrior year $1,872$2,489
I-11 Other revenue$0
I-12 Total revenuePrior year $717,806$1,223,561
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $298,571$311,311
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $692,700$915,250
I-18 Total expensesPrior year $991,271$1,226,561
I-19 Revenue less expensesPrior year −$273,465−$3,000
Part VI · Governance 0 of 19 board members independent, 2 to look at
VI-1a Voting members of the governing body19
VI-1b Independent voting members0
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,223,561 across 5 lines filed
Lines not itemized here account for $1,644 of total revenue; see the IRS return.
VIII-1e Government grants$1,157,681
VIII-1h Total contributions, gifts and grants$1,157,681
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $61,747$61,747
VIII-3 Investment incomeRelated to mission $2,489$2,489
VIII-12 Total revenueRelated to mission $65,880$1,223,561
Part IX · Statement of functional expenses $1,226,561 across 11 lines filed
IX-7 Other salaries and wagesManagement $281,714$281,714
IX-9 Other employee benefitsPrograms $7,738$7,738
IX-10 Payroll taxesManagement $21,859$21,859
IX-11c Accounting feesPrograms $8,003$8,003
IX-12 Advertising and promotionPrograms $32,400$32,400
IX-13 Office expensesPrograms $18,539$18,539
IX-17 TravelPrograms $98,821$98,821
IX-22 Depreciation, depletion and amortizationPrograms $1,519$1,519
IX-23 InsurancePrograms $15,030$15,030
IX-24 Other expenses (24a–d)Programs $655,887$655,887
IX-24e All other expensesPrograms $68,259 · Management $16,792$85,051
IX-25 Total functional expensesPrograms $906,196 · Management $320,365 · Fundraising $0$1,226,561
Part X · Balance sheet $1,421,675 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $1,133,767$1,419,017
X-10c Land, buildings and equipment, netStart of year $4,177$2,658
X-16 Total assetsStart of year $1,137,944$1,421,675
X-17 Accounts payable and accrued expensesStart of year $26,967$340,100
X-19 Deferred revenueStart of year $472,194$445,792
X-26 Total liabilitiesStart of year $499,161$785,892
X-27 Net assets without donor restrictionsStart of year $638,783$635,783
X-32 Total net assets or fund balancesStart of year $638,783$635,783
X-33 Total liabilities and net assetsStart of year $1,137,944$1,421,675
Part XI · Reconciliation of net assets $635,783 net assets at year end
XI-1 Total revenue$1,223,561
XI-2 Total expenses$1,226,561
XI-3 Revenue less expenses−$3,000
XI-4 Net assets at start of year$638,783
XI-10 Net assets at end of year$635,783

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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