Overview
What is Kentucky Chamber Foundation Inc?
Kentucky Chamber Foundation Inc, a 501(c)(3) organization situated in Frankfort, Kentucky, was established by the Kentucky Chamber of Commerce to foster a competitive business environment in the state. Their mission encompasses various aspects such as education, health and wellness, energy, government efficiency, and global competitiveness. The foundation has been actively involved in supporting the Kentucky Chamber of Commerce's New Agenda for Kentucky Project through its initiatives. During the challenging times of Kentucky tornadoes and flooding in FY22, the Kentucky Chamber Foundation played a significant role in disaster relief efforts, collecting funds and distributing them to organizations like Kentucky Habitat for Humanity and Volunteers of America Mid-States to aid in the recovery process.
Official website here: www.kychamber.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
The Kentucky Chamber Foundation Inc has received an impressive Four-Star rating from Charity Navigator, reflecting its commitment to high standards in accountability and finance. The overall score is derived from a single beacon score, indicating that the organization excels in financial practices, which is crucial for donor trust and transparency.
Strengths of the foundation include a fully independent board with 95% of its members being independent, alongside a comprehensive set of policies such as conflict of interest and whistleblower protections. The organization has demonstrated effective management of its resources, achieving a 100% program expense ratio and an efficient fundraising model, signifying that all funds are directed towards their mission without unnecessary overhead.
While the foundation shows solid financial health, the working capital ratio of 0.57 years suggests that the organization might face challenges in covering its liabilities in the short term. However, the absence of material diversion of assets and the diligent oversight of financial statements indicate a strong governance framework aimed at minimizing risks. Overall, the Kentucky Chamber Foundation Inc stands out as a well-managed nonprofit dedicated to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Kentucky Chamber Foundation Inc legitimate?
Kentucky Chamber Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kentucky Chamber Foundation Inc 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,124,488
For more financial information, click here
Official website here: www.kychamber.com
What is the mission statement of Kentucky Chamber Foundation Inc?
The Kentucky Chamber Foundation, as a 501(c)(3) organization, is committed to promoting advancements in Kentucky's education, health and wellness, energy, government efficiency, and global competitiveness. The mission of this organization, aligned with the Kentucky Chamber of Commerce, is to support a competitive business environment in the state. In line with this, the Kentucky Chamber Foundation has been developing programs and services in accordance with the Kentucky Chamber of Commerce's new agenda for Kentucky, as part of its New Agenda Campaign. During the fiscal year 2022, the foundation aided in disaster relief efforts following the Kentucky tornadoes and flooding, distributing collected funds to organizations such as Kentucky Habitat for Humanity and Volunteers of America Mid-States.
Official website here: www.kychamber.com
Who is the CEO of Kentucky Chamber Foundation Inc?
Unavailable The CEO's salary of Kentucky Chamber Foundation Inc is $0 and their total compensation is $387,122.
Official website here: www.kychamber.com
What is the revenue of Kentucky Chamber Foundation Inc?
Kentucky Chamber Foundation Inc's revenue in 2022 was $4,479,219.
Official website here: www.kychamber.com
Who are the executives of Kentucky Chamber Foundation Inc and what are their salaries?
There 19 volunteers at Kentucky Chamber Foundation Inc.
Here are 20 key members and their salaries (Kentucky Chamber Foundation Inc's CEO's salary is $0 and their total compensation is $387,122):
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- Related: $356,262
- Other: $30,860
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Official website here: www.kychamber.com
Where can I find the form 990 for Kentucky Chamber Foundation Inc?
Kentucky Chamber Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.kychamber.com
Learn more at the official website: www.kychamber.com
Mission Statement of Kentucky Chamber Foundation Inc
The Kentucky Chamber Foundation, a 501(c)(3) organization, is committed to promoting Kentucky's advancement in various sectors. Its mission is centered around education, health and wellness, energy, government efficiency, and global competitiveness. This foundation, established by the Kentucky Chamber of Commerce, aims to support and further the objectives of a competitive business environment in the state. It accomplishes this by developing programs and services in alignment with the Kentucky Chamber of Commerce's new agenda for Kentucky, as outlined in their New Agenda Campaign. In the fiscal year 2022, the Kentucky Chamber Foundation contributed to disaster relief efforts following the Kentucky tornadoes and flooding. It collected funds and subsequently distributed them to Kentucky Habitat for Humanity and Volunteers of America Mid-States.
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Impact
July, 2024
Kentucky Chamber Foundation Inc's impact is significant in advancing Kentucky's education, health and wellness, energy, government efficiency, and global competitiveness. Through its programs and services aligned with the Kentucky Chamber of Commerce's agenda, the foundation works tirelessly to create and support a competitive business climate in the state. Additionally, during FY22, the foundation played a crucial role in disaster relief efforts following the Kentucky tornadoes and flooding by collecting and distributing funds to organizations like Kentucky Habitat for Humanity and Volunteers of America Mid-States. This demonstrates the foundation's commitment to supporting communities in need and driving positive change in Kentucky.
This information is meant to be a general summary of Kentucky Chamber Foundation Inc. 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: $767,404
- Gross Receipts: $4,479,219
Assets and Liabilities:
- Total Assets: $1,547,412
- Total Liabilities: $181,711
- Net Assets: $1,365,701
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Kentucky State Contracts
Revenue
$767,404
Organization Details
Founding Year
1995
Phone
(502) 695-4700Main Address
464 Chenault Road, Frankfort, KY, 40601
Website
www.kychamber.comNTEE Category
Code: S20 - Community improvement
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