Overview
What is Kentucky Bourbon Festival Inc?
Kentucky Bourbon Festival Inc is a nonprofit organization dedicated to promoting and educating the public about the rich history and production process of Bourbon. Their primary goal is to foster a deeper understanding of this distinctive spirit while simultaneously giving back to the local community by supporting various charitable organizations. The organization's mission revolves around the education of Kentucky Bourbon, making it an essential resource for both Bourbon enthusiasts and those simply interested in learning more about this iconic drink.
Official website here: www.kybourbonfestival.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Star rating)
Kentucky Bourbon Festival Inc has received a score of 84%, indicating a solid performance in accountability and finance. This rating is based entirely on their accountability and finance metrics, reflecting the organization's commitment to transparency and responsible management of resources. The high score signifies that the charity is effectively utilizing its financial resources for its mission.
The organization demonstrates strong governance with a fully independent board, consisting of eight members, and has established an audit and oversight committee. It has also maintained a low ratio of liabilities to assets, at just 3.88%, showcasing its financial stability. Additionally, the majority of its expenses are directed toward programs, with a program expense ratio of 99.78%, indicating a focus on fulfilling its charitable mission.
However, the organization has noted some areas that require improvement, specifically the absence of a conflict of interest policy, whistleblower policy, and document retention and destruction policy. While these gaps do not significantly detract from its overall financial accountability, addressing them could enhance the organization’s governance framework and further reinforce its commitment to transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Kentucky Bourbon Festival Inc legitimate?
Kentucky Bourbon Festival Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kentucky Bourbon Festival 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: $171,185
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.kybourbonfestival.com
What is the mission statement of Kentucky Bourbon Festival Inc?
The mission of Kentucky Bourbon Festival Inc. revolves around promoting and educating the public on the rich history and intricate production processes of Bourbon. By doing so, this organization aims to contribute positively to the community, supporting various local non-profit organizations in the process. The core objective of Kentucky Bourbon Festival Inc. is centered around the promotion and education of Bourbon, with a commitment to giving back to the community.
Official website here: www.kybourbonfestival.com
Who is the CEO of Kentucky Bourbon Festival Inc?
David Mandell is the Chairperson of Kentucky Bourbon Festival Inc.
Official website here: www.kybourbonfestival.com
What is the revenue of Kentucky Bourbon Festival Inc?
Kentucky Bourbon Festival Inc's revenue in 2022 was $1,477,302.
Official website here: www.kybourbonfestival.com
Who are the executives of Kentucky Bourbon Festival Inc and what are their salaries?
The average compensation at Kentucky Bourbon Festival Inc during 2022 was $85,592. There are 2 employees and 200 volunteers at Kentucky Bourbon Festival Inc.
Here are 5 key members and their salaries:
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- Compensation: $99,785
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- Other: $0
Official website here: www.kybourbonfestival.com
Where can I find the form 990 for Kentucky Bourbon Festival Inc?
Kentucky Bourbon Festival Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.kybourbonfestival.com
Learn more at the official website: www.kybourbonfestival.com
Mission Statement of Kentucky Bourbon Festival Inc
Kentucky Bourbon Festival Inc, with its mission, is dedicated to spreading knowledge and appreciation for the history and craftsmanship behind Bourbon production. Acting as an educator in the field, the nonprofit aims to engage the public and cultivate a deeper understanding of this distinctive Kentucky tradition. Simultaneously, Kentucky Bourbon Festival Inc supports local non-profit organizations, demonstrating its commitment to giving back to the community. With its core mission centered around Kentucky Bourbon education, the organization plays a crucial role in preserving and promoting this significant aspect of the region's culture.
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Impact
July, 2024
Kentucky Bourbon Festival Inc makes a significant impact by promoting and educating the public on the history and production of Bourbon. Through its work, the organization supports local non-profit organizations and fosters Kentucky Bourbon education. The festival held in Bardstown, KY, not only celebrates this beloved spirit but also contributes to the cultural and economic vitality of the region. With its mission centered on Bourbon education, Kentucky Bourbon Festival Inc plays a crucial role in preserving and promoting this important aspect of Kentucky's heritage.
This information is meant to be a general summary of Kentucky Bourbon Festival 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.
- Investment Income: $305
- Gross Receipts: $1,477,302
Assets and Liabilities:
- Total Assets: $214,654
- Total Liabilities: $8,335
- Net Assets: $206,319
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Organization Details
Founding Year
1997
Phone
(502) 348-3623Principal Officer
David Mandell
Main Address
114 N 5TH ST, BARDSTOWN, KY, 40004
Website
www.kybourbonfestival.comNTEE Category
Code: N520 - Recreation
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