Overview
What is First Saturday In May Inc?
First Saturday In May Inc, based in Lexington, Kentucky, is a nonprofit organization primarily dedicated to promoting economic development and tourism within the Commonwealth. They achieve this mission by organizing and managing various events associated with the renowned Kentucky Derby. By attracting out-of-state visitors through these events, they aim to stimulate interest in investing in Kentucky. Their initiatives contribute to the overall growth and development of the region, thereby enhancing its appeal as a potential business location.
Is First Saturday In May Inc legitimate?
First Saturday In May Inc is a legitimate nonprofit organization registered as a 501(c)(4) entity. First Saturday In May 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: $0
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What is the mission statement of First Saturday In May Inc?
First Saturday In May Inc's primary mission is focused on organizing and managing events, specifically for the promotion of economic development and tourism within a particular region. The organization's activities primarily revolve around the Kentucky Derby, a significant event in the region. To encourage tourism and economic development, the organization organizes various events related to the Kentucky Derby. By doing so, they aim to attract out-of-state visitors, presenting Kentucky as an investment opportunity for businesses.
Who is the CEO of First Saturday In May Inc?
M Melinda Karns is the President of First Saturday In May Inc.
What is the revenue of First Saturday In May Inc?
First Saturday In May Inc's revenue in 2022 was $820,057.
Who are the executives of First Saturday In May Inc and what are their salaries?
Here are 2 key members and their salaries:
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- Other: $0
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Where can I find the form 990 for First Saturday In May Inc?
First Saturday In May Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of First Saturday In May Inc
First Saturday In May Inc, as an organization, is dedicated to a primary mission of organizing and managing events aimed at promoting economic development and tourism within the Commonwealth of Kentucky. To achieve this goal, the nonprofit orchestrates a series of events related to the Kentucky Derby, a significant event for the region. By doing so, First Saturday In May Inc encourages out-of-state visitors to attend the Kentucky Derby, thereby boosting tourism and potentially attracting businesses to view Kentucky as an investment opportunity. This strategy ultimately aims to stimulate economic growth within the Commonwealth.
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Impact
October, 2024
First Saturday In May Inc significantly impacts the Commonwealth of Kentucky by enhancing economic development and promoting tourism, particularly surrounding the iconic Kentucky Derby. By orchestrating various events related to this famous racing event, the organization attracts out-of-state visitors, showcasing Kentucky as a prime destination. This influx of tourists not only boosts local businesses but also positions Kentucky as an enticing investment opportunity for entrepreneurs and corporations. The associated events foster community engagement and elevate the profile of the region, ensuring that the Kentucky Derby remains a hallmark of cultural and economic significance. Overall, the organization plays a crucial role in driving growth and improving the region's economic landscape.
This information is meant to be a general summary of First Saturday In May 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: $690,711
- Gross Receipts: $820,057
Assets and Liabilities:
- Total Assets: $245,478
- Total Liabilities: $179,320
- Net Assets: $66,158
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DERBY/OAKS DAY EVENTS
Revenue
$690,711
Organization Details
Founding Year
2019
Phone
(859) 253-1100Principal Officer
M Melinda Karns
Main Address
250 WEST MAIN ST SUITE 2900, LEXINGTON, KY, 40507
NTEE Category
Code: S30 - Community improvement
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