Commonwealth Fund for Ket Inc

What it reported doing in 2024

The organization's purpose is to support the mission of the authority for Kentucky educational television, the governing body of Kentucky educational television (ket). As one of the nation's largest public television networks, ket is used by more than 2 million people each week and its educational resources are utilized in every Kentucky school district as well as classrooms across the nation. Accessible through broadcast, mobile and connected devices, ket's content includes originally produced Kentucky history, culture and public affairs programs in addition to the national pbs lineup. Serving the educational needs of the state, ket delivers the most-trusted children's educational programming plus cradle-to-career instructional services including early childhood teaching tools and certification, k-12 digital learning resources and professional training for educators, and ged and workforce development prep. The website www.ket.org/making-a-difference-archives tells the story of the teachers, students, families and communities impacted by ket's programs and services.the prior-year spike in revenue was due to two extraordinary bequests and a one-time fundraising campaign to construct and equip a new louisville production center, which opened in january 2025. Unrestricted annual giving continued to increase year-over-year. Quarter 4 saw significant growth in fundraising as many donors responded to the threat of federal funding cuts. An additional $1.349 million in federal funding that matched private funds was raised.

Financial Efficiency

• Mission deployment rate: 64.7%; rating input score 65
• Program expense ratio: 66%; rating input score 66
• Fundraising efficiency: $8.99 raised per $1 spent on fundraising; rating input score 35; 35th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 94.1%; rating input score 94; 27th percentile among comparable filings
• Governance controls: 8 of 8 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 25.6%; rating input score 86; 86th percentile among comparable filings
• Total-asset coverage ratio: 6.12; rating input score 87; 87th percentile among comparable filings
• Liabilities to assets ratio: 0.01; rating input score 91; 91st percentile among comparable filings
• Officer compensation ratio: 2.1%; rating input score 76; 76th percentile among comparable filings

Growth

• Program expense growth: 10.3% per year; rating input score 100; 71st percentile among comparable filings
• Revenue growth: 7.2% per year; rating input score 100; 61st percentile among comparable filings
• Asset growth: 8.9% per year; rating input score 100; 60th percentile among comparable filings