TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2018
Open to Public
Inspection
Inspection
Name of the organization
KENTUCKY DERBY FESTIVAL INC
Employer identification number
61-0713833
61-0713833
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | A DRAFT OF THE RETURN IS REVIEWED FIRST BY INTERNAL MANAGEMENT. AFTER INTERNAL MANAGEMENT HAS REVIEWED THE RETURN AND ANY CHANGES ARE MADE A DRAFT IS PROVIDED TO THE EXECUTIVE COMMITTEE FOR REVIEW AND APPROVAL. ONCE THE COMMENTS FROM THE EXECUTIVE BOARD ARE REVIEWED THE FINAL DRAFT OF THE RETURN IS PROVIDED TO THE ENTIRE BOARD AND SIGNED BY THE SIGNING OFFICER. |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF THE BOARD OF DIRECTORS SHALL ANNUALLY SIGN A STATEMENT WHICH STATES THEY HAVE RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAVE READ AND UNDERSTANDS THE POLICY, AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THE ORGANIZATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. THE AUDIT COMMITTEE OF THE ORGANIZATION SHALL BE TASKED WITH REVIEWING AND MAKING DETERMINATIONS ON ALL ACTUAL OR POSSIBLE CONFLICTS OF INTEREST. THE AUDIT COMMITTEE SHALL REPORT ITS FINDINGS TO THE EXECUTIVE BOARD OF THE ORGANIZATION. IF A DETERMINATION CANNOT BE MADE BY THE AUDIT COMMITTEE, THE EXECUTIVE BOARD SHALL MAKE A FINAL DETERMINATION ON THE ISSUE. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. PERIODIC REVIEW WILL BE MADE TO ENSURE THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS. TERMINATIONS ON ALL ACTUAL OR POSSIBLE CONFLICTS OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE ORGANIZATION REVIEWS COMPARATIVE SALARY INFORMATION PROVIDED BY THE INTERNATIONAL FESTIVAL AND EVENTS ASSOCIATION. THE COMPENSATION COMMITTEE APPROVES THE PRESIDENT/CEO'S SALARY BASED OFF OF THE INFORMATION OBTAINED. THE PRESIDENT/CEO AND THE EXECUTIVE BOARD CONSIDERS EXPERIENCE AND YEARLY EVALUATIONS AND APPROVES THE COMPENSATION FOR ALL OTHER OFFICERS. |
| FORM 990, PART VI, SECTION C, LINE 19 | AUDITED FINANCIALS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AT THE FILING ORGANIZATION'S OFFICE. |
| FORM 990, PART IX, LINE 24E | EQUIPMENT RENTALS: PROGRAM SERVICE EXPENSES 231,766. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 231,766. UNIFORMS: PROGRAM SERVICE EXPENSES 189,709. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 189,709. SPONSOR BENEFITS: PROGRAM SERVICE EXPENSES 177,036. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 177,036. COMMISSION: PROGRAM SERVICE EXPENSES 132,847. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 132,847. AWARDS: PROGRAM SERVICE EXPENSES 114,188. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 114,188. SITE RENTAL: PROGRAM SERVICE EXPENSES 113,313. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 113,313. UTILITIES: PROGRAM SERVICE EXPENSES 36,205. MANAGEMENT AND GENERAL EXPENSES 74,022. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 110,227. BARRICADES: PROGRAM SERVICE EXPENSES 84,645. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 84,645. BANNERS: PROGRAM SERVICE EXPENSES 69,607. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 69,607. PRINTING: PROGRAM SERVICE EXPENSES 60,718. MANAGEMENT AND GENERAL EXPENSES 1,714. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 62,432. SECURITY: PROGRAM SERVICE EXPENSES 53,355. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 53,355. REPAIRS & MAINTENANCE: PROGRAM SERVICE EXPENSES 31,158. MANAGEMENT AND GENERAL EXPENSES 21,984. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 53,142. OTHER ADMIN COSTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 38,923. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 38,923. VEHICLES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 20,262. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 20,262. POSTAGE : PROGRAM SERVICE EXPENSES 11,920. MANAGEMENT AND GENERAL EXPENSES 8,181. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 20,101. DUES AND SUBSCRIPTIONS: PROGRAM SERVICE EXPENSES 3,200. MANAGEMENT AND GENERAL EXPENSES 3,777. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,977. EDUCATION & TRAINING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 1,665. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,665. |
| FORM 990, PAGE 12, PART XII, LINE 2C | THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT OVERSEES THE SELECTION OF THE INDEPENDENT ACCOUNTANT AND OVERSEES THE AUDIT. THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE YEAR. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2018
Additional Data
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