The Backside Learning Center INC FY2024 filing

Tax-deductible

Louisville, KY501(c)(3)Since 2015EIN 37-1803514Revenue $1.5M in FY2024

On file with the IRSbacksidelearningcenter.org3131 S 2nd Street - 389, 40208-1446 · Louisville, KYTax-exempt since May 2016Publicly supported charity — 170(b)(1)(A)(vi)

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The purpose of the organization is to provide educational, linguistic, social and other charitable services to persons, and their families, engaged primarily in the care, training, and/or any other activity involving thoroughbred race horses housed at racing and training facilities; particularly at churchhill downs in louisville, kentucky.

501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
$72K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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
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 $219K a year · 24% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$72K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 10.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
25
named funders · $567K
Looks good: 25 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$5K
0.2% of total assets
Looks good: liabilities are 0% 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
$1.5M
+60% vs prior year
Spent
$954K
To programs
71%
Net assets
$1.9M
By yearFY2020–FY2024
Revenue
$1.5M
FY2024▲ +60%
Tap a bar for its year
Revenue by fiscal year
FY2020$835K
FY2021$587K
FY2022$762K
FY2023$921K
FY2024$1.5M
FY2024$1.3M
Expenses
$954K
FY2024▲ +23%
Tap a bar for its year
Expenses by fiscal year
FY2020$518K
FY2021$621K
FY2022$619K
FY2023$774K
FY2024$954K
FY2024$1.2M
Net assets
$1.9M
FY2024▲ +63%
Tap a bar for its year
Net assets by fiscal year
FY2020$993K
FY2021$1.0M
FY2022$975K
FY2023$1.2M
FY2024$1.9M
FY2024$2.1M

From the FY2024 Form 990 (year ending September 2024) · 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 May 2016.

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

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $673K Management & general 11% · $102K Fundraising 19% · $179K

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

12 people listed on the 990; $72K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Director
$71,705Pt VII · Sec A
President
$0Pt VII · Sec A
Vice-President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Sherry Stanley$71,705$71,705$67,763$64,946$67,193$67,193

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.

See The Backside Learning Center INC 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

Supports thoroughbred horse caretakers and their families through educational and charitable programs.

Provided by the organization

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2 programs · $673K · in their own filed words · FY2023
01

Family Education Program

The family education program is held at our off-site location. It provides academic enrichment activities to school-aged children of backside workers and offers simultaneous english classes for their parents. These programs provide services to 20 to 30 school age children on an ongoing basis.

$397Kprogram expense
02

Learning center adult programs -these programs support equine workers and their families in the pursuit of their personal and professional dreams. We do this by providing educational opportunities, assistance in navigating and accessing local resources, and by creating community.

$276Kprogram 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
See all 25 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.5M
Ln 12
Gifts and grantsLn 1h$1.4M
Investment incomeLn 3$38K
Other incomeLn 4–11$11K
Money outPt IX
$954K
Ln 25
Programscol B$673K
Managementcol C$102K
Fundraisingcol D$179K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$827K
Total assetsLn 16$1.9M
LiabilitiesLn 26$5K
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Noncash giftsLn 1g$16K
Fundraising eventsLn 1c$163K
Investment incomeLn 3$38K
Other incomeLn 4–11$11K
Gains on assetsLn 7$6K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$482K
SavingsLn 2$344K
Cash and savings togetherLn 1–2$827K
InvestmentsLn 11–13$1.0M
Land, buildings, equipmentLn 10c$39K
Total assetsLn 16$1.9M
LiabilitiesLn 26$5K
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 527
VolunteersI 660
Fiscal year endsHeaderSeptember
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$75K$827K
InvestmentsLn 11–13$1.0M$1.0M
Land, buildings, equipmentLn 10c$37K$39K
Total assetsLn 16$1.2M$1.9M
LiabilitiesLn 26$4K$5K
Net assetsLn 32$1.2M$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$79K$56K$8K$16K
Other salaries and wagesLn 7$604K$423K$60K$121K
Pension plan contributionsLn 8$5K$3K$459$918
Other employee benefitsLn 9$39K$27K$4K$8K
Payroll taxesLn 10$51K$36K$5K$10K
Accounting feesLn 11c$9K$6K$910$2K
Investment management feesLn 11f$13K$13K
Other fees for servicesLn 11g$65K$45K$6K$13K
Advertising and promotionLn 12$8K$5K$776$2K
Office expensesLn 13$14K$10K$1K$3K
TravelLn 17$4K$3K$399$798
Conferences, conventions and meetingsLn 19$7K$7K
Depreciation, depletion and amortizationLn 22$9K$6K$890$2K
InsuranceLn 23$9K$6K$891$2K
Other expenses (24a–d)Ln 24$38K$38K
Total functional expensesLn 25$954K$673K$102K$179K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $1.5M$954K$523K$1.9M 990 PDF
FY2023 $921K$774K$147K$1.2M 990 PDF
FY2022 $762K$619K$143K$975K 990 PDF
FY2021 $587K$621K−$34K$1.0M 990 PDF
FY2020 $835K$518K$317K$993K 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 $1,476,939 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $852,318$1,427,919
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $69,014$37,896
I-11 Other revenuePrior year $0$11,124
I-12 Total revenuePrior year $921,332$1,476,939
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 $585,421$778,002
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $188,655$176,235
I-18 Total expensesPrior year $774,076$954,237
I-19 Revenue less expensesPrior year $147,256$522,702
Part VI · Governance 11 of 11 board members independent, 2 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
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 $1,476,939 across 8 lines filed
VIII-1c Fundraising events$163,331
VIII-1f All other contributions, gifts and grants$1,264,588
VIII-1g Noncash contributions (included above)$15,900
VIII-1h Total contributions, gifts and grants$1,427,919
VIII-3 Investment incomeExcluded from tax $32,137$32,137
VIII-7 Net gain or loss on sales of assetsExcluded from tax $5,759$5,759
VIII-8 Net income from fundraising eventsExcluded from tax $11,124$11,124
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $49,020$1,476,939
Part IX · Statement of functional expenses $954,237 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $55,603 · Management $7,944 · Fundraising $15,886$79,433
IX-7 Other salaries and wagesPrograms $422,982 · Management $60,425 · Fundraising $120,852$604,259
IX-8 Pension plan contributionsPrograms $3,212 · Management $459 · Fundraising $918$4,589
IX-9 Other employee benefitsPrograms $26,998 · Management $3,858 · Fundraising $7,712$38,568
IX-10 Payroll taxesPrograms $35,808 · Management $5,115 · Fundraising $10,230$51,153
IX-11c Accounting feesPrograms $6,370 · Management $910 · Fundraising $1,820$9,100
IX-11f Investment management feesManagement $12,769$12,769
IX-11g Other fees for servicesPrograms $45,337 · Management $6,477 · Fundraising $12,954$64,768
IX-12 Advertising and promotionPrograms $5,435 · Management $776 · Fundraising $1,553$7,764
IX-13 Office expensesPrograms $10,012 · Management $1,431 · Fundraising $2,861$14,304
IX-17 TravelPrograms $2,791 · Management $399 · Fundraising $798$3,988
IX-19 Conferences, conventions and meetingsPrograms $7,449$7,449
IX-22 Depreciation, depletion and amortizationPrograms $6,227 · Management $890 · Fundraising $1,779$8,896
IX-23 InsurancePrograms $6,238 · Management $891 · Fundraising $1,782$8,911
IX-24 Other expenses (24a–d)Programs $38,286$38,286
IX-25 Total functional expensesPrograms $672,748 · Management $102,344 · Fundraising $179,145$954,237
Part X · Balance sheet $1,889,405 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $75,389$482,324
X-2 Savings and temporary cash investments$344,486
X-9 Prepaid expenses and deferred chargesStart of year $9,955$4,920
X-10c Land, buildings and equipment, netStart of year $37,413$39,216
X-11 Publicly traded securitiesStart of year $1,037,452$1,018,459
X-16 Total assetsStart of year $1,160,209$1,889,405
X-17 Accounts payable and accrued expensesStart of year $3,584$4,712
X-26 Total liabilitiesStart of year $3,584$4,712
X-27 Net assets without donor restrictionsStart of year $1,091,828$1,684,980
X-28 Net assets with donor restrictionsStart of year $64,797$199,713
X-32 Total net assets or fund balancesStart of year $1,156,625$1,884,693
X-33 Total liabilities and net assetsStart of year $1,160,209$1,889,405
Part XI · Reconciliation of net assets $1,884,693 net assets at year end
XI-1 Total revenue$1,476,939
XI-2 Total expenses$954,237
XI-3 Revenue less expenses$522,702
XI-4 Net assets at start of year$1,156,625
XI-5 Net unrealized gains (losses) on investments$205,366
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,884,693

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

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