Overview
What is Kentucky Science And Technology Corp?
Kentucky Science and Technology Corp, abbreviated as KSTC, is a dynamic, entrepreneurial organization based in Kentucky, dedicated to fostering an innovation-driven economy within the state. Their mission involves collaborating with businesses, government, and education to harness the best opportunities for Kentucky's future. KSTC contributes to the creation of innovative companies, jobs, and the international competitiveness of the state's economy. They promote technology development, transfer, and nurture an innovative mindset conducive to entrepreneurial development. Furthermore, KSTC encourages a systematic approach where all levels of education, from primary to university, contribute to Kentucky innovations. In terms of education, KSTC runs a program called AdvanceKentucky, which aims to fund training and incentives for Advanced Placement (AP) and Pre-AP courses in math, science, and English in Kentucky high schools. This initiative offers extensive teacher training, identifies and cultivates lead teachers, provides extended time for students to work on tasks, and offers financial incentives based on academic results. KSTC receives support from various private organizations such as College Board and Code.org to offset costs and enhance the availability of computer science courses in schools. Additionally, KSTC has funded programs like Veterans Accelerated Learning for Licensed Occupations (VALLO) and Veterans Accelerated Licensure Occupational Recruitments (VALOR), which aim to help veterans transition into civilian occupations more quickly and with fewer obstructions. These programs streamline the occupational licensing process and develop accelerated learning programs for veterans. While VALLO was funded by the U.S. Department of Labor, VALOR is a state-sponsored continuation of the VALLO program, funded by the Commonwealth of Kentucky's Department of Local Government.
Official website here: www.kstc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating 77% - Three-Star out of Four Star rating
The Kentucky Science and Technology Corporation has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and finance management. The overall score is heavily based on accountability metrics, with a notable 100% independent board composition and strong oversight in financial reporting practices. Such governance structures suggest a commitment to transparency and ethical operation.
Strengths include a high program expense ratio of 84.02%, indicating that a significant portion of resources is directed toward its mission-related activities. Furthermore, the organization has demonstrated effective practices in areas like conflict of interest policies and document retention. However, the absence of a whistleblower policy suggests an area for improvement regarding internal compliance and safeguarding.
On the downside, the organization has a concerning liability to assets ratio of 93.33%, which may indicate potential financial risk. While the accountability scores are impressive, stakeholders may want to consider this financial metric when evaluating the organization's overall stability and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Kentucky Science And Technology Corp legitimate?
Kentucky Science And Technology Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kentucky Science And Technology Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,176,862
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,684,746
For more financial information, click here
Official website here: www.kstc.com
What is the mission statement of Kentucky Science And Technology Corp?
Kentucky Science and Technology Corporation (KSTC) aims to foster an innovation-driven, entrepreneurial economy. As an entrepreneurial organization, its mission is to enhance the capacity of individuals, companies, and organizations to develop and apply science and technology, competing responsibly in the global marketplace. KSTC accomplishes this by developing a comprehensive innovation strategy, bringing together business, government, and education as collaborative partners. This strategy aims to leverage opportunities for Kentucky's future. Additionally, KSTC contributes to the creation of entrepreneurial companies, jobs, and the international competitiveness of Kentucky's economy. The corporation also promotes technology development and transfer, nurturing an innovative mindset conducive to entrepreneurial development. Furthermore, KSTC advocates for a more systematic approach, encouraging all levels of education (from primary to university) to contribute to Kentucky's innovation efforts.
Official website here: www.kstc.com
Who is the CEO of Kentucky Science And Technology Corp?
Ft Samuel Jr is the Director of Kentucky Science And Technology Corp.
Official website here: www.kstc.com
What is the revenue of Kentucky Science And Technology Corp?
Kentucky Science And Technology Corp's revenue in 2022 was $5,574,534.
Official website here: www.kstc.com
Who are the executives of Kentucky Science And Technology Corp and what are their salaries?
The average compensation at Kentucky Science And Technology Corp during 2022 was $73,375. There are 39 employees at Kentucky Science And Technology Corp.
Here are 27 key members and their salaries:
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- Compensation: $92,313
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- Compensation: $88,947
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- Compensation: $114,883
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- Other: $6,488
- Compensation: $131,116
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- Other: $15,553
Official website here: www.kstc.com
Where can I find the form 990 for Kentucky Science And Technology Corp?
Kentucky Science And Technology Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.kstc.com
Learn more at the official website: www.kstc.com
Mission Statement of Kentucky Science And Technology Corp
Kentucky Science and Technology Corp, an entrepreneurial organization, is dedicated to enhancing the capacity of individuals, companies, and organizations in Kentucky to develop and apply science and technology competitively in the global marketplace. Their mission involves creating an innovation-driven economy in the state. To achieve this, they have strategized in four key areas:
1. Developing a comprehensive innovation strategy that brings together business, government, and education as full partners, leveraging the best opportunities for Kentucky's future.
2. Contributing to the creation of entrepreneurial companies, jobs, and the international competitiveness of Kentucky's economy.
3. Promoting technology development and transfer, fostering an innovative mindset conducive to entrepreneurial development.
4. Encouraging a more systematic approach, where all levels of education (primary through university) contribute to Kentucky innovations.
In essence, Kentucky Science and Technology Corp aims to foster an environment that encourages the integration of science, technology, and entrepreneurship, empowering individuals and organizations to compete on a global scale. They strive to create a collaborative ecosystem, where business, government, and education work together to leverage opportunities, build entrepreneurial companies, and promote technological advancements.
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Impact
July, 2024
Kentucky Science and Technology Corp's impact is focused on creating an innovation-driven, entrepreneurial economy in Kentucky. They strive to enhance the capacity of individuals, companies, and organizations to develop and apply science and technology, thus increasing their ability to compete in the global marketplace. By fostering a comprehensive innovation strategy that involves collaboration between business, government, and education sectors, KSTC aims to leverage the best opportunities for Kentucky's future development.
Furthermore, through its various education programs like AdvanceKentucky, which supports training and incentives for advanced placement courses in math, science, and English in Kentucky high schools, KSTC is actively working to expand the number of students excelling in these subjects. Additionally, initiatives like VALLO and VALOR are geared towards streamlining occupational licensing processes to help veterans transition into civilian occupations more efficiently. This proactive approach contributes to the development of entrepreneurial companies, job creation, and the overall international competitiveness of Kentucky's economy.
In summary, Kentucky Science and Technology Corp's impact can be seen in their efforts to promote technology development, foster an innovative mindset conducive to entrepreneurial development, and establish a systematic approach involving all levels of education to drive innovations in Kentucky.
This information is meant to be a general summary of Kentucky Science And Technology Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $624,898
- Gross Receipts: $5,574,534
Assets and Liabilities:
- Total Assets: $23,640,627
- Total Liabilities: $22,409,897
- Net Assets: $1,230,730
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONSULTING FEES
Revenue
$483,821
WORKSHOP & PROGRAM FEE
Revenue
$141,077
Organization Details
Founding Year
1987
Phone
(859) 233-3502Principal Officer
Ft Samuel Jr
Main Address
PO BOX 1049, LEXINGTON, KY, 405881049
Website
www.kstc.comNTEE Category
Code: U00 - Science research
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