LOUISVILLE ARENA AUTHORITY INC: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- LOUISVILLE ARENA AUTHORITY INC (EIN 20-4230414)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-09-10
- IRS object ID
- 201342539349300129
- Schema version
- 2012v2.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-09-10T12:00:11-05:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CROWE HORWATH LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9600 Brownsboro Road | AddressLine1 |
| Address Line2 | Suite 400 | AddressLine2 |
| City | Louisville | City |
| State | KY | State |
| ZIP Code | 402411122 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 204230414 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LOUISVILLE ARENA AUTHORITY INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | LOUI | NameControl |
| Phone | 5026909011 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | One Arena Plaza | AddressLine1 |
| City | Louisville | City |
| State | KY | State |
| ZIP Code | 402021363 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | WILLIAM SUMMERS V | Name |
| Title | VICE CHAIR | Title |
| Date Signed | 2013-09-15 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Rachel Spurlock | Name |
| PTIN | P00520729 | PTIN |
| Phone | 5023263996 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | X | AddressChange |
Name Of Principal Officer Business NameOfPrincipalOfficerBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LARRY HAYES | BusinessNameLine1 |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | One Arena Plaza | AddressLine1 |
| City | Louisville | City |
| State | KY | State |
| ZIP Code | 402021363 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 26686669 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.ARENAAUTHORITY.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2006 | YearFormation |
| State Legal Domicile | KY | StateLegalDomicile |
| Activity Or Mission Description | LAA WAS ORGANIZED FOR THE PURPOSE OF CREATING, FINANCING, DEVELOPING AND OVERSEEING THE DESIGN AND CONSTRUCTION, MANAGEMENT AND OPERATION OF THE MULTI-PURPOSE ARENA. THE ARENA IS A VENUE FOR A VARIETY OF COMMUNITY-ORIENTED EVENTS AND WILL OPERATE YEAR ROUND. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 12 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 12 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 22 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 12569823 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 17595031 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 11397815 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 7764533 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 834170 | InvestmentIncomePriorYear |
| Investment Income Current Year | 758630 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 561986 | OtherRevenuePriorYear |
| Other Revenue Current Year | 568475 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 25363794 | TotalRevenuePriorYear |
| Total Revenue Current Year | 26686669 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 0 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 0 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 45028656 | OtherExpensePriorYear |
| Other Expenses Current Year | 40209119 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 45028656 | TotalExpensesPriorYear |
| Total Expenses Current Year | 40209119 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -19664862 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -13522450 | RevenuesLessExpensesCY |
| Total Assets BOY | 439136044 | TotalAssetsBOY |
| Total Assets EOY | 419857568 | TotalAssetsEOY |
| Total Liabilities BOY | 379435415 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 377045060 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 59700629 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 42812508 | NetAssetsOrFundBalancesEOY |
| Mission Description | TO CREATE, FINANCE, DEVELOP AND OVERSEE THE DESIGN AND CONSTRUCTION, MANAGEMENT AND OPERATION OF A MULTI-PURPOSE ARENA. THE ARENA IS A VENUE FOR A VARIETY OF COMMUNITY-ORIENTED EVENTS, WHICH WILL GENERALLY BE OPEN TO THE PUBLIC: UNIVERSITY OF LOUISVILLE MEN'S AND WOMEN'S BASKETBALL GAMES, CONCERTS, FAMILY SHOWS, AND OTHER EVENTS. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 39298147 | Expense |
| Revenue | 8333008 | Revenue |
| Description | ON APRIL 19, 2010, THE LOUISVILLE ARENA AUTHORITY ANNOUNCED THAT YUM! BRANDS, A LOCALLY-BASED INTERNATIONAL COMPANY, HAD BEEN SELECTED AS THE NAMING RIGHTS PARTNER OF THE NEW LOUISVILLE ARENA. THE ARENA THEN BECAME KNOWN AS THE "KFC YUM! CENTER." SINCE ITS OPENING, THE KFC YUM! CENTER HAS HOSTED UNIVERSITY OF LOUISVILLE MEN'S AND WOMEN'S BASKETBALL GAMES, NUMEROUS CONCERTS AND FAMILY SHOWS AND PRIVATE EVENTS. INTEREST IN THE FACILITY REMAINS HIGH, AND AS A RESULT, NUMEROUS NEW BUSINESSES HAVE OPENED NEAR THE ARENA. AS ANTICIPATED, THE ARENA HAS LED TO ADDITIONAL ECONOMIC DEVELOPMENT IN DOWNTOWN LOUISVILLE. EFFECTIVE JUNE 30, 2012, THE LAA REPLACED THE KSFB (THE INDEPENDENT MANAGING AGENT) WITH AEG MANAGEMENT LOUISVILLE, LLC TO OBTAIN A MINIMUM GUARANTEE AND IMPROVE THE RESULTS OF NET OPERATING REVENUES. | Description |
| Total Program Service Expense | 39298147 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | true | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | false | ScheduleJRequired |
| Tax Exempt Bonds | true | TaxExemptBonds |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBonds |
| Escrow Account | false | EscrowAccount |
| On Behalf Of Issuer | false | OnBehalfOfIssuer |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | false | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 28 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Quid Pro Quo Contributions | false | QuidProQuoContributions |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | false | FundsToPayPremiums |
| Premiums Paid | false | PremiumsPaid |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 12 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 12 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | true | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | false | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | false | CompensationProcessCEO |
| Compensation Process Other | false | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | KY | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Justin Jokovich | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 5023675100 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | One Arena Plaza | AddressLine1 |
| City | Louisville | City |
| State | KY | State |
| ZIP Code | 402021363 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | X | NoListedPersonsCompensated |
Form990 Part VII Section A Form990PartVIISectionA (18 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| ALICE HOUSTON | ||||||
| SECRETARY | 1.00 | X | X | 0 | 0 | 0 |
| DANIEL ULMER | ||||||
| TREASURER | 20.00 | X | X | 0 | 0 | 0 |
| LARRY HAYES | ||||||
| CHAIRMAN | 6.00 | X | X | 0 | 0 | 0 |
| W JAMES HOST PARTIAL YEAR | ||||||
| PRESIDENT | 40.00 | X | X | 0 | 0 | 0 |
| WILLIAM SUMMERS | ||||||
| VICE CHAIR | 3.00 | X | X | 0 | 0 | 0 |
| ANDREW BESHEAR | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| CISSY MUSSELMAN PARTIAL YEAR | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| ERIC GUNDERSON | ||||||
| DIRECTOR | 4.00 | X | 0 | 0 | 0 | |
| LEE KIRKWOOD | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| LESA SEIBERT | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| LINDY STREET | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| MARK LYNN PARTIAL YEAR | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| MAURA TEMES | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| MICHAEL HOULIHAN | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| TIM CORRIGAN PARTIAL YEAR | ||||||
| DIRECTOR | 4.00 | X | 0 | 0 | 0 | |
| TIM MULLOY | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| TODD BLUE PARTIAL YEAR | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| HAROLD WORKMAN | ||||||
| CFO (PARTIAL YEAR) | 40.00 | X | 0 | 0 | 0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 0 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | false | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| AEG MANAGEMENT LOUISVILLE LLC | |||||
| 1111S FIGUEROA ST STE 3100 | LOS ANGELES | CA | 90015 | OPERATIONS MANAGEMENT | 895726 |
| NATIONAL SHOWS 2 LLC | |||||
| 211 S PATTERSON ST | MADISON | WI | 53702 | CONCERT EVENT | 700160 |
| POLICE PRODUCTIONS | |||||
| 281 ANCIENT ELMS CT | LAKE SAINT LOUIS | MO | 63367 | CONCERT EVENT | 410612 |
| AEG LIVE PRODUCTIONS LLC | |||||
| 824 19TH ST | NASHVILLE | TN | 37203 | CONCERT EVENT | 264941 |
| FROST BROWN TODD | |||||
| PO BOX 70087 | LOUISVILLE | KY | 40270 | LEGAL SERVICES | 145982 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 22 | NumberOfContractorsGT100K |
| Government Grants | 13341716 | GovernmentGrants |
| All Other Contributions | 4253315 | AllOtherContributions |
| Total Contributions | 17595031 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| SUITE & PREMIUM SEATING REVENUE | 711300 | 1406417 | 1406417 |
| EVENT REVENUE | 711300 | 5462390 | 5462390 |
| OPERATIONS CONTRACT | 711300 | 895726 | 895726 |
| 0 | |||
| 0 |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 7764533 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 106560 | TotalRevenueColumn |
| Exclusion | $106,560 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 652070 | TotalRevenueColumn |
| Exclusion | $652,070 | ExclusionAmount |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 0 | Real |
| Personal | 0 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 0 | Securities |
| Other | 0 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| DEBT FORGIVENESS | 900099 | 500004 | 500004 |
| 0 | |||
| 0 |
Miscellaneous Revenue MiscellaneousRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 68471 | TotalRevenueColumn |
| Related Or Exempt Function Income | 68471 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 568475 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 26686669 | TotalRevenueColumn |
| Related Or Exempt Function Income | 8333008 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $758,630 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 105000 | Total |
| Management And General | 105000 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 145982 | Total |
| Management And General | 145982 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 75084 | Total |
| Management And General | 75084 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2756940 | Total |
| Program Services | 2291459 | ProgramServices |
| Management And General | 465481 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 394280 | Total |
| Program Services | 394280 | ProgramServices |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 242827 | Total |
| Program Services | 194262 | ProgramServices |
| Management And General | 48565 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 20766 | Total |
| Management And General | 20766 | ManagementAndGeneral |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 968128 | Total |
| Program Services | 968128 | ProgramServices |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11017 | Total |
| Management And General | 11017 | ManagementAndGeneral |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 21457863 | Total |
| Program Services | 21457863 | ProgramServices |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 11372631 | Total |
| Program Services | 11372631 | ProgramServices |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 39077 | Total |
| Management And General | 39077 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices |
|---|---|---|
| PROCEEDS TO CO-PROMOTERS | 934828 | 934828 |
| SUITES- SPONSORSHIPS & FEES | 440700 | 440700 |
| BUILDING MAINTENANCE | 253218 | 253218 |
| SPECIAL MATERIALS & SERVICES | 101687 | 101687 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 889091 | Total |
| Program Services | 889091 | ProgramServices |
| Management And General | 0 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 40209119 | Total |
| Program Services | 39298147 | ProgramServices |
| Management And General | 910972 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Total Joint Costs TotalJointCosts
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9758323 | BOY |
| EOY | 5915585 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5904679 | BOY |
| EOY | 6174507 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 284197 | BOY |
| EOY | 60000 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 403383214 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 22985264 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 391705407 | BOY |
| EOY | 380397950 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 22636816 | BOY |
| EOY | 19271177 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10000 | BOY |
| EOY | 10000 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8836622 | BOY |
| EOY | 8028349 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 439136044 | BOY |
| EOY | 419857568 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 12791426 | BOY |
| EOY | 9982010 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4855854 | BOY |
| EOY | 3316121 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 320996297 | BOY |
| EOY | 322543882 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 30000000 | BOY |
| EOY | 30000000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10791838 | BOY |
| EOY | 11203047 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 379435415 | BOY |
| EOY | 377045060 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 59700629 | BOY |
| EOY | 42812508 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 59700629 | BOY |
| EOY | 42812508 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 439136044 | BOY |
| EOY | 419857568 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | -13522450 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | -3365671 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | 0 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Separate | X | FinancialStatementSeparate |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | true | AuditCommittee |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org170b1 Avi | X | PubliclySupportedOrg170b1Avi |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 1387556 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 939901 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 7117844 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 12569823 | CurrentTaxYearMinus1Year |
| Current Tax Year | 17595031 | CurrentTaxYear |
| Total | 39610155 | Total |
Tax Rev Levied For Org Benefit170 TaxRevLeviedForOrgBenefit170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Value Srvc Fclts Furnished By Govt ValueSrvcFcltsFurnishedByGovt
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 1387556 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 939901 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 7117844 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 12569823 | CurrentTaxYearMinus1Year |
| Current Tax Year | 17595031 | CurrentTaxYear |
| Total | 39610155 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amounts Subst Contributors Total | 795383 | AmountsSubstContributorsTotal |
| Public Support Total170 | 38814772 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 559126 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 848516 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 585767 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 834170 | CurrentTaxYearMinus1Year |
| Current Tax Year | 758630 | CurrentTaxYear |
| Total | 3586209 | Total |
Net UBI NetUBI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Income170 OtherIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 534799 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 404 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 149068 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 561986 | CurrentTaxYearMinus1Year |
| Current Tax Year | 568475 | CurrentTaxYear |
| Total | 1814732 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 45011096 | TotalSupport |
| Gross Receipts From Admissions Etc | 23817207 | GrossReceiptsFromAdmissionsEtc |
| Public Support Pertcentage170 | 0.86230 | PublicSupportPertcentage170 |
| Public Support Pertcent Prior Year | 0.93360 | PublicSupportPertcentPriorYear |
| Thirty Three Percnt Tests CY170 | X | ThirtyThreePercntTestsCY170 |
| General Explanation | OTHER INCOME, SCHEDULE A, PART II, LINE 10, DESCRIPTION - SWAP TERMINATION REFUND, COLUMN A - 525000, COLUMN B - , COLUMN C - , COLUMN D - , COLUMN E - , COLUMN F - 525000; DESCRIPTION - BID DEPOSIT INCOME, COLUMN A - 9799, COLUMN B - , COLUMN C - , COLUMN D - , COLUMN E - , COLUMN F - 9799; DESCRIPTION - MISCELLANEOUS INCOME, COLUMN A - , COLUMN B - 404, COLUMN C - 24067, COLUMN D - 61982, COLUMN E - 68471, COLUMN F - 154924; DESCRIPTION - DEBT FORGIVENESS, COLUMN A - , COLUMN B - , COLUMN C - 125001, COLUMN D - 500004, COLUMN E - 500004, COLUMN F - 1125009;, | GeneralExplanation |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 91605539 | OtherCostOrOtherBasis |
| Book Value | 91605539 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 283969073 | OtherCostOrOtherBasis |
| Depreciation | 16631336 | Depreciation |
| Book Value | 267337737 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | 0 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 21444510 | OtherCostOrOtherBasis |
| Depreciation | 3543856 | Depreciation |
| Book Value | 17900654 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 6364092 | OtherCostOrOtherBasis |
| Depreciation | 2810072 | Depreciation |
| Book Value | 3554020 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 380397950 | TotalOfBookValueLandBuildings |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| KSFB GUARANTEE | $4,828,047 |
| CENTERPLACE ADVANCE | $6,375,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 11203047 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | FIN 48 (ASC 740) footnote | Identifier |
| Return Reference | Schedule D, Part X, Line 2 | ReturnReference |
| Explanation | THE AUTHORITY RECEIVED A RULING FROM THE INTERNAL REVENUE SERVICE INDICATING THAT IT QUALIFIES AS A TAX EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO INCOME TAXES HAVE BEEN PROVIDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE KENTUCKY DEPARTMENT OF REVENUE HAS GRANTED THE AUTHORITY EXEMPTION FROM SALES TAX ON PURCHASES MADE FOR ITS EXEMPT PURPOSE AND HAS ALSO ISSUED THE AUTHORITY AN EXEMPTION FROM AD VALOREM TAX AS A "PURELY PUBLIC CHARITY." THE AUTHORITY HAS NO MATERIAL UNCERTAIN INCOME TAX POSITIONS WHICH WOULD RESULT IN A LIABILITY TO THE AUTHORITY. THE AUTHORITY RECOGNIZES INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE AUTHORITY RECOGNIZED NO INTEREST OR PENALTIES ON INCOME TAXES IN ITS STATEMENT OF ACTIVITIES FOR THE YEARS ENDED DECEMBER 31, 2012 OR 2011. DUE TO ITS TAX EXEMPT STATUS, THE AUTHORITY IS NOT SUBJECT TO U.S. FEDERAL INCOME TAX OR STATE INCOME TAX. THE AUTHORITY RECOGNIZES A TAX POSITION AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. THE AUTHORITY'S OPEN AUDIT PERIODS ARE 2008 THROUGH 2012. THE AUTHORITY DOES NOT EXPECT ITS UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. | Explanation |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KENTUCKY ECONOMIC DEVELOPMENT FINANCE AUTHORITY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Issuer EIN | 610600439 | IssuerEIN |
| CUSIP Number | 49127KBA7 | CUSIPNumber |
| Date Issued | 2008-09-03 | DateIssued |
| Issue Price | 314327186 | IssuePrice |
| Description Of Purpose | TO FINANCE A PORTION OF THE NEW ARENA IN LOUISVILLE, KENTUCKY | DescriptionOfPurpose |
| Defeased | false | Defeased |
| On Behalf Of Issuer | false | OnBehalfOfIssuer |
| Pool Financing | false | PoolFinancing |
Form990 Schedule K Part II Form990ScheduleKPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Amount Retired | 0 | AmountRetired |
| Amount Bond Defeased | 0 | AmountBondDefeased |
| Total Proceeds | 332930620 | TotalProceeds |
| Amount In Reserve Fund | 14040929 | AmountInReserveFund |
| Capitalized Interest | 41102623 | CapitalizedInterest |
| Refunding Escrow | 0 | RefundingEscrow |
| Issuance Costs From Proceeds | 4971956 | IssuanceCostsFromProceeds |
| Credit Enhancement | 6423967 | CreditEnhancement |
| Working Capital Expenditures | 7632612 | WorkingCapitalExpenditures |
| Capital Expenditures | 258758533 | CapitalExpenditures |
| Other Spent Proceeds | 0 | OtherSpentProceeds |
| Amount Unspent | 0 | AmountUnspent |
| Year Of Subst Completion | 2010 | YearOfSubstCompletion |
| Current Refunding | false | CurrentRefunding |
| Advance Refunding | false | AdvanceRefunding |
| Final Allocation Made | true | FinalAllocationMade |
| Adequate Books And Recds Maintaind | true | AdequateBooksAndRecdsMaintaind |
Form990 Schedule K Part III Form990ScheduleKPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | false | OwningBondFinancedProperty |
| Any Lease Arrangements | false | AnyLeaseArrangements |
| Mngment Cntrct Bond Financd Prprty | false | MngmentCntrctBondFinancdPrprty |
| Engage Bond Counsel Contracts | false | EngageBondCounselContracts |
| Any Research Agreements | false | AnyResearchAgreements |
| Engage Bond Counsel Research | false | EngageBondCounselResearch |
| Prcntge Prvt Business Use By Others | 0.0000 | PrcntgePrvtBusinessUseByOthers |
| Percentage Of Prvt Business Re UBI | 0.0000 | PercentageOfPrvtBusinessReUBI |
| Total Private Business Use | 0.0000 | TotalPrivateBusinessUse |
| Bond Iss Meet Prvt Security Pay Test | false | BondIssMeetPrvtSecurityPayTest |
| Change In Use Bond Financed Prop | false | ChangeInUseBondFinancedProp |
| Prcntge Bond Financed Prop | 0.000000 | PrcntgeBondFinancedProp |
| Remedial Action Taken | false | RemedialActionTaken |
| Non Qualified Bond Remed Procdrs | true | NonQualifiedBondRemedProcdrs |
Form990 Schedule K Part IV Form990ScheduleKPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | false | Form8038TFiled |
| Rebate Not Due Yet | true | RebateNotDueYet |
| Exception To Rebate | false | ExceptionToRebate |
| No Rebate Due | false | NoRebateDue |
| Variable Rate Issue | false | VariableRateIssue |
| Hedge Identified In Books And Recds | false | HedgeIdentifiedInBooksAndRecds |
| Term Of Hedge | 0 | TermOfHedge |
| Superintegrated Hedge | false | SuperintegratedHedge |
| Hedge Terminated | false | HedgeTerminated |
| Gross Proceeds Invested In GIC | true | GrossProceedsInvestedInGIC |
Name Of GIC Provider NameOfGICProvider
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | US BANK | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Of GIC | 2.0 | TermOfGIC |
| Regulatory Safe Harbor Satisfied | true | RegulatorySafeHarborSatisfied |
| Gross Proceeds Invested | false | GrossProceedsInvested |
| Written Proc To Monitor Reqs | false | WrittenProcToMonitorReqs |
Form990 Schedule K Part V Form990ScheduleKPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Proc To Undertk Corrective Action | false | ProcToUndertkCorrectiveAction |
Form990 Schedule K Part VI Form990ScheduleKPartVI (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| TOTAL PROCEEDS OF ISSUE, SCH K, PART II, LINE 3 | SCHEDULE K, PART I | THE TOTAL PROCEEDS OF ISSUE $332,930,620 LESS: ORIGINAL ISSUE DISCOUNT $4,891,332 LESS: INTEREST INCOME $13,712,102 IS THE DIFFERENCE BETWEEN THE ISSUE PRICE $314,327,186 AND THE TOTAL PROCEEDS OF ISSUE. |
| GUARANTEED INVESTMENT CONTRACT | SCHEDULE K, PART IV, LINE 5A | THE GROSS PROCEEDS THAT WERE DEPOSITED INTO THE RESERVE FUND WERE INVESTED IN A GUARANTEED INVESTMENT CONTRACT (GIC) INITIALLY WITH ROYAL BANK OF CANADA WHICH WAS ASSIGNED AND ASSUMED BY BERKSHIRE HATHAWAY INC. ON FEBRUARY 4, 2011. THE ORIGINAL TERM OF THE GIC INITIALLY AND AS ASSIGNED WAS SET TO EXPIRE ON DECEMBER 1, 2042 WITH RESPECT TO THE SENIOR BONDS AND DECEMBER 1, 2025 WITH RESPECT TO THE SUBORDINATE BONDS. |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (6 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| PROGRAM SERVICE REVENUE | FORM 990, PART I, LINE 9 | EFFECTIVE JULY 1, 2012, THE AUTHORITY TERMINATED THE OPERATIONS MANAGEMENT CONTRACT WITH THE KENTUCKY STATE FAIR BOARD AND ENTERED INTO A CONTRACT WITH AEG TO BE THE INDEPENDENT MANAGER OF THE ARENA. THE RESULTS OF OPERATIONS UNDER THE NEW CONTRACT (FOR THE LAST SIX MONTHS OF 2012) ARE REPORTED AT NET INSTEAD OF AT GROSS. ACCORDINGLY, EVENT REVENUE AND RELATED EXPENSES ARE NOT COMPARABLE BETWEEN THE TWO YEARS (2011 INCLUDES A FULL 12 MONTHS WHILE 2012 INCLUDES ONLY SIX MONTHS). |
| Delegation of management duties | Form 990, Part VI, Section A, Line 3 | THE AUTHORITY HAS ENTERED INTO AN OPERATIONS MANAGEMENT AGREEMENT WITH AEG CORPORATION EFFECTIVE JULY 1, 2012 TO REPLACE THE FORMER CONTRACT WITH THE KENTUCKY STATE FAIR BOARD TO BE THE SOLE, INDEPENDENT MANAGING AGENT FOR THE ARENA WITH COMPLETE AUTHORITY OVER AND RESPONSIBILITY FOR ITS DAY-TO-DAY OPERATIONS. MANAGEMENT FEES ARE BILLED PERIODICALLY UNDER THE NEW CONTRACT AND WERE BILLED QUARTERLY BY THE KENTUCKY STATE FAIR BOARD. |
| Review of form 990 by governing body | Form 990, Part VI, Section B, Line 11b | A COPY OF THE DRAFT FORM 990 INCLUDING SUPPLEMENTAL SCHEDULES, IS PROVIDED TO THE FINANCE/EXECUTIVE COMMITTEE FOR AN INITIAL REVIEW. THE FORM 990 AND SUPPLEMENTAL SCHEDULES WERE PRESENTED TO THE BOARD MEMBERS PRIOR TO ITS FILING WITH THE IRS. IN ADDITION, THE ORGANIZATION'S RETURN PREPARER AND MANAGEMENT PRESENTED A FORM 990 SUMMARY REPORT AT THIS MEETING. |
| Conflict of interest policy | Form 990, Part VI, Section B, Line 12c | ANY DIRECTOR OR OFFICER WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST ARE COVERED UNDER THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. IN THE EVENT THAT A SITUATION ARISES WHEREBY AN INTERESTED PERSON HAS A CONFLICT OF INTEREST, HE/SHE IS OBLIGATED TO REPORT THAT POTENTIAL CONFLICT TO THE BOARD OF DIRECTORS OF THE CORPORATION. THE BOARD OF DIRECTORS SHALL DETERMINE IF A CONFLICT OF INTEREST EXISTS. THE INTERESTED PERSON MAY MAKE A PRESENTATION TO THE BOARD, BUT SHALL NOT BE PRESENT DURING THE BOARD DISCUSSION OF THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST AND SHALL ABSTAIN FROM VOTING ON THE EXISTENCE OF A CONFLICT OF INTEREST. DISCLOSURE OF A POTENTIAL CONFLICT AND THE BOARD OF DIRECTOR'S DECISION REGARDING THE CONFLICT WILL BE NOTED IN THE MINUTES. |
| PROCESS FOR DETERMINING COMPENSATION | FORM 990, PART VI, LINE 15 | THE TOP OFFICIAL FOR THE ORGANIZATION, LARRY HAYES, RECEIVES NO COMPENSATION FROM THE ORGANIZATION FOR SERVICES PROVIDED. FOR PURPOSES OF FORM 990 REPORTING, JUSTIN JOKOVICH IS TREATED AS THE TOP FINANCIAL OFFICIAL. JUSTIN IS AN EMPLOYEE OF AEG, THE MANAGEMENT COMPANY, AND THEREFORE ALL COMPENSATION IS DETERMINED BY THE AEG. |
| Governing documents, conflict of interest policy and financial statements available to the public | Form 990, Part VI, Section C, Line 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |