Kentucky Equine Management Internship Program INC FY2020 filing

Tax-deductible

Lexington, KY501(c)(3)Since 1998EducationEIN 61-1337087Revenue $179K in FY2020

On file with the IRSkemi.org4079 Iron Works Parkway, 40511-8512 · Lexington, KYTax-exempt since Mar 1999Publicly supported charity — 170(b)(1)(A)(vi)

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To provide an educational Program that will enable students to gain a hands-on knowledge of the Equine industry and apply what they learn in a classroom out on a farm exposing them to day-to-day operations of a farm and the overall Management and care of horses on a daily basis.

501(c)(3) charity; gifts are tax-deductible.
18¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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 surplus $8K a year · 4% of revenue · last 6 filings
Worth a look: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
18%
of spending
Concern: 18% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
28 mo
of spending, in cash
Looks good: 27.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $30K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$179K
Spent
$153K
To programs
18%
Net assets
$348K
By yearFY2020–FY2025
Revenue
$179K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$179K
FY2021$159K
FY2022$127K
FY2023$133K
FY2024$183K
FY2025$436K
Expenses
$153K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$153K
FY2021$175K
FY2022$210K
FY2023$209K
FY2024$210K
FY2025$212K
Net assets
$348K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$348K
FY2021$333K
FY2022$249K
FY2023$173K
FY2024$146K
FY2025$370K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 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 Mar 1999.

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

Where the money goes

18 cents of each dollar spent went to programs.

Program services 18% · $28K Management & general 82% · $126K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice-President
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Kentucky Equine Management Internship Program 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 15aNo

Programs and updates

Teaches students hands-on equine industry skills and farm management through practical experience.

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Provided by the organization

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3 programs · $28K · in their own filed words · FY2020
01

The program publishes a semi-annual newsletter and an annual brochure to promote the ongoing development of the program to colleges and universities throughout the U.S. And to keep supporting farms, organizations and alumni abreast of the activities of the program to enhance ongoing participation.

$15Kprogram expense
02

The program holds two interships each year to provide students hands-on experience and management knowledge of the thoroughbred industry. Housing is provided as a part of this program at no cost to the intern to enhance their experience on the farm throughout their internship period making them available to experience and participate in…

$11Kprogram expense
03

The organization maintains a website to promote enrollment by keeping everyone associated with the program current with regard to the status of interns, alumni and development and activities of the program. The website also provides enrollment information and requirements to students interested in the program.

$2Kprogram 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 1 funder$30K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$179K
Ln 12
Fees for servicesLn 2g$91K
Gifts and grantsLn 1h$87K
Investment incomeLn 3$730
Money outPt IX
$153K
Ln 25
Programscol B$28K
Managementcol C$126K
Owns and owesPt X
$348K
net assets · Ln 32
Cash and savingsLn 1–2$352K
Total assetsLn 16$353K
LiabilitiesLn 26$4K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$87K
Fees for servicesLn 2g$91K
Investment incomeLn 3$730
Total revenueLn 12$179K
Assets in detailPt X, end of year
CashLn 1$265K
SavingsLn 2$87K
Cash and savings togetherLn 1–2$352K
Land, buildings, equipmentLn 10c$817
Total assetsLn 16$353K
LiabilitiesLn 26$4K
Net assetsLn 32$348K
OperationsPt I, VI
EmployeesI 51
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$325K$352K
Land, buildings, equipmentLn 10c$1K$817
Total assetsLn 16$327K$353K
LiabilitiesLn 26$4K$4K
Net assetsLn 32$323K$348K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of disqualified personsLn 6$84K$84K
Other employee benefitsLn 9$13K$13K
Payroll taxesLn 10$6K$6K
Accounting feesLn 11c$725$725
Advertising and promotionLn 12$13K$13K
Office expensesLn 13$2K$2K
Information technologyLn 14$2K$2K
Depreciation, depletion and amortizationLn 22$408$408
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$31K$26K$5K
All other expensesLn 24e$410$410
Total functional expensesLn 25$153K$28K$126K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $436K$212K$224K$370K 990 PDF
FY2024 $183K$210K−$27K$146K 990 PDF
FY2023 $133K$209K−$76K$173K 990 PDF
FY2022 $127K$210K−$84K$249K 990 PDF
FY2021 $159K$175K−$16K$333K 990 PDF
FY2020 Viewing $179K$153K$26K$348K 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 FY2020 990 (6 parts)
Part I · Summary $179,160 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $34,380$87,160
I-9 Program service revenuePrior year $127,650$91,270
I-10 Investment incomePrior year $2,267$730
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $164,297$179,160
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 $111,325$103,576
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $104,811$49,633
I-18 Total expensesPrior year $216,136$153,209
I-19 Revenue less expensesPrior year −$51,839$25,951
Part VI · Governance 12 of 12 board members independent, 4 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $179,160 across 5 lines filed
VIII-1f All other contributions, gifts and grants$87,160
VIII-1h Total contributions, gifts and grants$87,160
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $91,270$91,270
VIII-3 Investment incomeExcluded from tax $730$730
VIII-12 Total revenueRelated to mission $91,270 · Unrelated business $0 · Excluded from tax $730$179,160
Part IX · Statement of functional expenses $153,209 across 11 lines filed
IX-6 Pay of disqualified personsManagement $83,696$83,696
IX-9 Other employee benefitsManagement $13,478$13,478
IX-10 Payroll taxesManagement $6,402$6,402
IX-11c Accounting feesManagement $725$725
IX-12 Advertising and promotionManagement $12,613$12,613
IX-13 Office expensesManagement $1,687$1,687
IX-14 Information technologyPrograms $1,702$1,702
IX-22 Depreciation, depletion and amortizationManagement $408$408
IX-23 InsuranceManagement $1,055$1,055
IX-24 Other expenses (24a–d)Programs $25,883 · Management $5,150$31,033
IX-24e All other expensesManagement $410$410
IX-25 Total functional expensesPrograms $27,585 · Management $125,624 · Fundraising $0$153,209
Part X · Balance sheet $352,628 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $239,022$264,799
X-2 Savings and temporary cash investmentsStart of year $86,282$87,012
X-10c Land, buildings and equipment, netStart of year $1,225$817
X-16 Total assetsStart of year $326,529$352,628
X-17 Accounts payable and accrued expensesStart of year $4,010$4,158
X-26 Total liabilitiesStart of year $4,010$4,158
X-27 Net assets without donor restrictionsStart of year $251,059$277,010
X-28 Net assets with donor restrictionsStart of year $71,460$71,460
X-32 Total net assets or fund balancesStart of year $322,519$348,470
X-33 Total liabilities and net assetsStart of year $326,529$352,628
Part XI · Reconciliation of net assets $348,470 net assets at year end
XI-1 Total revenue$179,160
XI-2 Total expenses$153,209
XI-3 Revenue less expenses$25,951
XI-4 Net assets at start of year$322,519
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$348,470

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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