2015-11-13T14:06:20-06:00 2015-06-30 310905417 VONLEHMAN & COMPANY INC 250 GRANDVIEW DR SUITE 300 FT MITCHELL KY 41017 990 2014-07-01 610722558 KENTUCKY EDUCATIONAL TELEVISION FOUNDATION KENT 8592587000 600 EAST COOPER DRIVE LEXINGTON KY 40502 SHAE HOPKINS EXECUTIVE DIRECTOR/CEO 8592587000 2015-11-12 1 ADAM MDAVEY P00228237 8593313300 2015-11-03 2014 2016-04-25 22:37:26Z SHAE HOPKINS 600 EAST COOPER DRIVE LEXINGTON KY 40502 7880723 0 X WWW.KET.ORG X 1971 KY ASSIST THE KENTUCKY AUTHORITY FOR EDUCATIONAL TELEVISION IN THE PRODUCTION OF PROGRAMS FOR USE IN EDUCATIONAL TELEVISION BROADCASTING. 10 10 110 205 0 0 6075459 7134135 778791 643684 12290 10523 -201178 -52634 6665362 7735708 0 0 0 0 3169999 4051626 0 0 10536 3500473 4070384 6670472 8122010 -5110 -386302 7220829 7338705 3069199 12130397 4151630 -4791692 X NONPROFIT CORPORATION OPERATING IN THE STATE OF KENTUCKY TO SUPPORT AND FURTHER THE EDUCATIONAL, CHARITABLE AND PUBLIC PURPOSES AND ACTIVITIES OF THE KENTUCKY AUTHORITY FOR EDUCATIONAL TELEVISION. THE FOUNDATION'S PRIMARY PURPOSE IS TO RECEIVE, HOLD AND ADMINISTER GRANTS IN THE NAME OF THE AUTHORITY. THE FOUNDATION ALSO ASSISTS IN THE DEVELOPMENT AND PRODUCTION OF EDUCATIONAL TELEVISION PROGRAMS AND MATERIALS FOR THE BENEFIT OF THE CITIZENS OF THE COMMONWEALTH OF KENTUCKY. 0 0 715330 59136 ACQUISITION AND PRODUCTION OF INSTRUCTIONAL RESOURCES FOR GRADES K-12 882674 72970 PRODUCTION OF ADULT AND CONTINUING EDUCATION 4610659 381159 ACQUISITION OF PUBLIC TELEVISION PROGRAMS FOR BROADCASTING TO VIEWERS 940926 77785 PRODUCTION OF MISCELLANEOUS EDUCATION PROGRAMS 940926 77785 7149589 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 64 0 1 110 1 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 1 0 1 1 1 0 1 1 1 1 1 1 1 1 0 KY X SUSAN KANIS 8592587000 600 COOPER DRIVE LEXINGTON KY 40502 SHAE HOPKINS EXEC DIRECTOR/CEO (NON-VOT 17.00 37.50 X X 33316 128779 91644 HILMA PRATHER DIRECTOR 1.00 2.00 X 200 300 0 DR SUVAS DESAI DIRECTOR 1.00 1.00 X 100 100 0 ANGELA M CAIN DIRECTOR 1.00 1.00 X 50 50 0 LAURA LADD DIRECTOR 1.00 1.00 X 50 50 0 DONNA MOORE CAMPBELL DIRECTOR 1.00 2.00 X 200 300 0 KARL R CHEUVRONT JR DIRECTOR 1.00 2.00 X 200 200 0 JUDY CAIN DIRECTOR 1.00 X 100 0 0 HEIDI MARGULIS DIRECTOR 1.00 1.00 X 0 0 0 ROMANZA JOHNSON DIRECTOR 1.00 X 100 0 0 STEPHEN L PRUITT DIRECTOR 1.00 1.00 X 0 0 0 DAVID COUCH DIRECTOR 1.00 1.00 X 0 0 0 MICHELE RIPLEY PRES. COMMONWEALTH FUND 12.00 37.50 X 113138 0 59222 FRED ENGEL SENIOR DIRECTOR FOR TECHNO 6.00 37.50 X 0 103351 58782 147454 233130 209648 1 0 1 0 WYATT TARRANT & COMBS 500 W JEFFERSON ST 2800 LOUISVILLE KY 40202 LEGAL SERVICES 227624 NCS PEARSON INC 62160 COLLECTION CENTER DR CHICAGO IL 60693 PUBLISHER AND PARTNER WITH GED TESTING S 164307 NCFL INC 325 W MAIN ST 300 LOUISVILLE KY 40202 PRODUCER FOR GRANT 134564 COGITOOLS SOFTWARE INC 3346 PEPPERHILL RD LEXINGTON KY 40502 WEB HOMEPAGE DEVELOPMENT 115000 4 2289219 3829460 1015456 7134135 FAST FORWARD 611710 414964 414964 PROGRAM SERVICES 611710 228720 228720 643684 10523 10523 65981 145015 -79034 -79034 ENDOWMENT - ADMINISTRA 561000 26400 26400 26400 7735708 591050 0 10523 147454 147454 3373142 3187592 185550 531030 341671 189359 348224 172593 175631 13500 13500 106500 95423 10986 91 106108 106108 320193 266651 48957 4585 39367 24480 11874 3013 15449 2859 12590 59654 6314 53340 PROGRAM ACQUISITION RIG 2158675 2158675 RESALE, AWARDS AND MISC 281359 271012 10314 33 DUES AND SUBSCRIPTIONS 154181 84624 69542 15 SMALL EQUIPMENT 85000 68459 16541 382174 363128 16247 2799 8122010 7149589 961885 10536 1568187 1218414 751073 728968 402274 553011 84552 236190 9918 9118 50391 43847 552612 472298 66882 80314 95000 0 4192552 4468843 7220829 7338705 235007 227641 2451513 1864522 382679 10038234 3069199 12130397 X 3369090 -5960622 532540 918930 250000 250000 4151630 -4791692 7220829 7338705 X -386302 -8557020 X X 0 1 X 1 0 X 5336130 5226959 5528046 6075459 7134135 29300729 5336130 5226959 5528046 6075459 7134135 29300729 29300729 18331 14692 12573 12290 10523 68409 271454 224118 117218 -201178 -52634 358978 29728116 4368617 0.98560 0.97310 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25550 25550 8268044 8293594 564680 141170 0 0 439166 466367 499215 564680 1969428 2954142 13260 25600 12425 25550 76835 109792 116592 124804 141170 492358 738537 250000 3119 3119 250000 250000 3146 3146 250000 250000 3160 3160 250000 250000 4450 4450 250000 250000 5000 5000 250000 1.00000 0 0 131712 55947 75765 411111 406562 4549 9789 9789 0 80314 INTEREST RECEIVABLE 238 RECEIVABLE FROM COMMONWEALTH FUND 3473128 PUBLIC AND INSTRUCTIONAL TV PROGRAM RIGHTS 120735 COSTS INCURRED FOR PROGRAMS NOT YET BROADCAST 209814 DEFERRED OUTFLOWS OF RESOURCES 664928 4468843 ACCRUED WAGES 95884 COMPENSATED LEAVE 284374 DEFERRED INFLOWS OF RESOURCES 122547 NET PENSION LIABILITY 9535429 10038234 X 7907292 26569 145015 171584 7735708 0 7735708 8388594 26569 240015 266584 8122010 0 8122010 PART V, LINE 4: THE ENDOWMENT IS PERMANENTLY RESTRICTED. THE PRINCIPAL MAY BE BORROWED FROM THE ENDOWMENT, PROVIDED THAT SUCH BORROWING IS USED TO SUPPORT THE PRODUCTION AND PRESERVATION OF REGIONAL PERFORMING ARTS AND IS REPAID WITHIN TWO YEARS. INVESTMENT EARNINGS ON THE PRINCIPAL ARE UNRESTRICTED. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, THE FOUNDATION QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(1). THE FOUNDATION HAS ADOPTED THE PROVISIONS OF THE ACCOUNTING PRONOUNCEMENT RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE FOUNDATION RECOGNIZED NO INTEREST OR PENALTIES IN THE STATEMENT OF NET POSITION FOR THE YEAR ENDED JUNE 30, 2015. IF THE SITUATION AROSE IN WHICH THE FOUNDATION WOULD HAVE INTEREST TO RECOGNIZE, IT WOULD RECOGNIZE THIS AS INTEREST EXPENSE AND PENALTIES WOULD BE RECOGNIZED IN OTHER EXPENSES. CURRENTLY, THE PRIOR THREE YEARS ARE OPEN UNDER FEDERAL AND STATE STATUTES OF LIMITATIONS AND REMAIN SUBJECT TO REVIEW AND CHANGE. THE FOUNDATION IS NOT CURRENTLY UNDER AUDIT NOR HAS THE FOUNDATION BEEN CONTACTED BY THESE JURISDICTIONS. BASED ON THE EVALUATION OF THE FOUNDATION'S TAX POSITIONS, MANAGEMENT BELIEVES ALL POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR THE YEAR ENDED JUNE 30, 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 145,015. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 145,015. IMPAIRMENT LOSS ON TRADEMARKS 95,000. X X X 0 0 0 0 0 0 0 0 0 SHAE HOPKINS EXEC DIRECTOR/CEO (NON-VOT 33316 128779 0 0 0 0 13596 54672 1753 21623 48665 205074 0 0 MICHELE RIPLEY PRES. COMMONWEALTH FUND 113138 0 0 0 0 0 46407 0 12815 0 172360 0 0 0 FRED ENGEL SENIOR DIRECTOR FOR TECHNO 0 103351 0 0 0 0 0 43174 0 15608 0 162133 0 0 FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP OF THE KET FOUNDATION BOARD OF DIRECTORS CONSISTS OF THE MEMBERS OF THE KENTUCKY AUTHORITY FOR EDUCATIONAL TELEVISION BOARD (5 OF WHICH ARE APPOINTED BY THE GOVERNOR), A REPRESENTATIVE OF THE FRIENDS OF KET BOARD AND THE EXECUTIVE DIRECTOR OF KET (A NONVOTING MEMBER). FORM 990, PART VI, SECTION B, LINE 11 THE KET FOUNDATION BOARD REVIEWS AND ACCEPTS THE AUDITED FINANCIAL REPORT ON AN ANNUAL BASIS. THE FORM 990 WILL ALSO BE REVIEWED AND ACCEPTED PRIOR TO SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C IT IS KET FOUNDATION POLICY TO REQUIRE DIRECTORS, OFFICERS AND EMPLOYEES TO OBSERVE HIGH STANDARDS OF BUSINESS AND PERSONAL ETHICS IN THE CONDUCT OF THEIR DUTIES AND RESPONSIBILITIES. BOARD MEMBERS: AS REQUIRED BY ARTICLE X OF THE FOUNDATION BY-LAWS, ANY DIRECTOR, COMMITTEE MEMBER OR OFFICER HAVING AN INTEREST, DIRECTLY OR INDIRECTLY, IN ANY CONTRACT OR OTHER TRANSACTION PRESENTED TO THE BOARD OF DIRECTORS OR A COMMITTEE THEREOF FOR AUTHORIZATION, APPROVAL OR RATIFICATION SHALL MAKE A PROMPT AND FULL DISCLOSURE OF HIS OR HER INTEREST TO THE BOARD OR COMMITTEE PRIOR TO ACTING ON SUCH CONTRACT OR TRANSACTION. SUCH PERSON SHALL NOT VOTE ON, NOR USE HIS OR HER PERSONAL INFLUENCE ON, NOR PARTICIPATE (OTHER THAN TO PRESENT FACTUAL INFORMATION OR TO RESPOND TO QUESTION) IN THE DISCUSSIONS OR DELIBERATIONS WITH RESPECT TO SUCH CONTRACT OR TRANSACTIONS. THE MINUTES OF THE MEETING SHALL REFLECT THE DISCLOSURE MADE, THE VOTE THEREON, AND THE RECUSAL FROM VOTING AND PARTICIPATION. FOR PURPOSES OF THIS ARTICLE, A PERSON SHALL BE DEEMED TO HAVE AN INTEREST IN A CONTRACT OR OTHER TRANSACTION IF HE OR SHE IS A PARTY CONTRACTING OR DEALING WITH THE FOUNDATION OR THE AUTHORITY, OR IF HE OR SHE IS A DIRECTOR, GENERAL PARTNER, OFFICER OR TRUSTEE IN THE ENTITY CONTRACTING OR DEALING WITH THE FOUNDATION OR THE AUTHORITY, OR IF HE OR SHE HAS A MATERIAL FINANCIAL INTEREST IN THE ENTITY CONTRACTING OR DEALING WITH THE FOUNDATION OR THE AUTHORITY, OR IF HIS OR HER SPOUSE, PARENT, SON, DAUGHTER OR SIBLING IS A PARTY CONTRACTING OR DEALING WITH THE FOUNDATION OR THE AUTHORITY OR HAS A MATERIAL FINANCIAL INTEREST IN THE ENTITY CONTRACTING OR DEALING WITH THE FOUNDATION OR THE AUTHORITY. AUTHORITY/FOUNDATION BOARD MEMBERS: IN ADDITION TO THE ABOVE FOUNDATION POLICY, FOUNDATION MEMBERS WHO ALSO SERVE AS AUTHORITY MEMBERS, ARE SUBJECT TO EXECUTIVE ORDER 2008-454, DATED MAY 27, 2008, ESTABLISHING CERTAIN ETHICAL STANDARDS FOR MEMBERS OF POLICY-MAKING AND REGULATORY BOARDS AND COMMISSIONS. THESE STANDARDS WERE ISSUED TO INSURE THAT BOARD AND COMMISSION MEMBERS WHO SERVE IN THE PUBLIC SECTOR ARE ACCOUNTABLE TO THE PEOPLE OF THE COMMONWEALTH. THE ETHICAL GUIDELINES DO NOT SUBJECT BOARD MEMBERS TO ALL PROVISIONS OF THE EXECUTIVE BRANCH CODE OF ETHICS CONTAINED IN KRS CHAPTER 11A. THE ETHICAL STANDARDS THAT DO APPLY TO BOARD MEMBERS SPECIFICALLY RELATE TO THE PROHIBITION AGAINST SELF DEALING, THE OBLIGATION TO DISCLOSE IN WRITING OR IN THE MINUTES OF A MEETING A DIRECT OR INDIRECT INTEREST, AND GIFT ACCEPTANCE PROVISIONS. EMPLOYEES: IT IS A POLICY OF THE KET FOUNDATION TO HOLD ITS EMPLOYEES TO THE SAME CONFLICT OF INTEREST LAWS REQUIRED OF STATE EMPLOYEES, AS IDENTIFIED IN THE EXECUTIVE BRANCH CODE OF ETHICS AND IN COMPLIANCE WITH KRS CHAPTER 11A AND KAR TITLE 9. FORM 990, PART VI, SECTION B, LINE 15 THE CEO/EXECUTIVE DIRECTOR AND OTHER TOP MANAGEMENT POSITIONS OF THE KET FOUNDATION ARE EMPLOYED BY THE KENTUCKY AUTHORITY OF EDUCATIONAL TELEVISION (THE AUTHORITY). THE CEO/EXECUTIVE DIRECTOR IS ALSO COMPENSATED BY THE FOUNDATION FOR DUTIES PERFORMED ON BEHALF OF THE ORGANIZATION. THIS ARRANGEMENT HAS BEEN REVIEWED AND APPROVED BY THE KENTUCKY ETHICS COMMISSION. THE AUTHORITY, AS A COMPONENT UNIT OF THE COMMONWEALTH OF KENTUCKY, IS SUBJECT TO THE STATE PERSONNEL PROCESS. THIS PROCESS INCLUDES REVIEW AND APPROVAL OF ALL COMPENSATION ADJUSTMENTS BY THE KET AUTHORITY CHAIR, THE EDUCATION CABINET AND THE GOVERNOR'S OFFICE. KET HAS PREVIOUSLY CONTRACTED FOR INDEPENDENT COMPENSATION STUDIES, AND RELIES ON COMPARABILITY DATA TO DETERMINE THE MARKET VALUE OF ALL POSITIONS. THIS DATA IS REVIEWED AND UPDATED ANNUALLY TO ASSURE EQUITY WITHIN KET, AND COMPARABILITY WITH LIKE PUBLIC BROADCASTING STATIONS. ALL SALARY ADJUSTMENTS FOR KET FOUNDATION EMPLOYEES ARE REVIEWED AND APPROVED BY APPLICABLE MANAGEMENT, WITH FINAL APPROVAL GRANTED BY THE KET EXECUTIVE DIRECTOR. ADJUSTMENTS ARE ALSO REVIEWED BY THE BOARD OF THE KET FOUNDATION. KET FOUNDATION BOARD MEMBERS RECEIVE $50 FOR ATTENDANCE TO EACH REGULARLY SCHEDULED QUARTERLY MEETING. THEY ALSO RECEIVE $50 FOR EACH SPECIAL MEETING, FINANCE COMMITTEE MEETING, STRATEGIC PLAN MEETING, ETC. ALL PAYMENTS ARE SUBJECT TO TAX. BOARD MEMBERS MAY ALSO BE REIMBURSED FOR REASONABLE TRAVEL AND OTHER KET BUSINESS RELATED EXPENSE REIMBURSEMENTS. FORM 990, PART VI, SECTION C, LINE 19 KET FOUNDATION'S OFFICIAL DOCUMENTS ARE PUBLIC RECORD AND ARE AVAILABLE UPON REQUEST. THE FOUNDATION IS ALSO A MEMBER OF THE BETTER BUSINESS BUREAU, THEREFORE APPLICABLE UPDATES ARE PROVIDED ON AN ANNUAL BASIS. FORM 990, PART VII SHAE HOPKINS - 600 EAST COOPER DRIVE, LEXINGTON, KY 40502. MICHELE RIPLEY - 600 EAST COOPER DRIVE, LEXINGTON, KY 40502. HILMA PRATHER - 510 NORTH MAIN STREET, SOMERSET, KY 42501. DR. SUVAS DESAI - 2040 MANOR DRIVE, LEXINGTON, KY 40502. FRED ENGEL - 600 EAST COOPER DRIVE, LEXINGTON, KY 40502. ANGELA M. CAIN - 533 LASSING WAY, WALTON, KY 41094. LAURA LADD - 509 EAST MAIN STREET, LEXINGTON, KY 40508. DONNA MOORE CAMPBELL - 1833 ST. IVES CIRCLE, LEXINGTON, KY 40502. KARL R CHEUVRONT JR. - 850 DIXIE HIGHWAY, LOUISVILLE, KY 40210. JUDY CAIN - 717 HOLLAN COURT, MOREHEAD, KY 40351. HEIDI MARGULIS - 500 W MAIN STREET, LOUISVILLE, KY 40202. ROMANZA JOHNSON - 3341 CEMETARY ROAD, BOWLING GREEN, KY 42103. STEPHEN L. PRUITT - 500 MERO STREET, 1ST FLOOR, FRANKFORT, KY 40601. DAVID COUCH - 500 MERO STREET, CPT 21ST FLOOR, FRANKFORT, KY 40601. FORM 990, PART XI, LINE 9: IMPAIRMENT LOSS ON TRADEMARKS -95,000. PENSION LIABILITY ADJUSTMENT -8,462,020. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR. KENTUCKY EDUCATIONAL TELEVISION AUTHORITY (STATE AGENCY) 600 EAST COOPER DRIVE LEXINGTON KY 40502 610600439 ACQUISITION AND PRODUCTION OF EDUCATIONAL PROGRAMS FOR TELEVISION KY 501(C)(3) 170(B)(1) (A)(VI) 0 COMMONWEALTH FUND FOR KET INC 600 EAST COOPER DRIVE LEXINGTON KY 40502 611285473 SUPPORT THE KY EDUCATIONAL TELEVISION AUTHORITY THROUGH ITS FUNDRAISING KY 501(C)(3) 170(B)(1) (A)(VI) 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 COMMONWEALTH FUND FOR KET INC C 2413000 FAIR MARKET VALUE COMMONWEALTH FUND FOR KET INC O 793400 FAIR MARKET VALUE KENTUCKY AUTHORITY FOR EDUCATIONAL TELEVISION P 124333 FAIR MARKET VALUE KENTUCKY AUTHORITY FOR EDUCATIONAL TELEVISION K 14400 FAIR MARKET VALUE COMMONWEALTH FUND FOR KET INC D 3473128 FAIR MARKET VALUE