Kentucky Chamber of Commerce Inc

Nonprofit profile at a glance

EIN
610405718
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Frankfort, KY, USA
Phone
5026954700
Rating confidence
Limited

Official website

Reported finances

Revenue
$13,013,260
Expenses
$11,378,226
Assets
$15,457,744
Liabilities
$4,715,957

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

75 people listed

Executive titles in this filing

  • ASHLI WATTS (PRESIDENT/CEO)
  • KATHERINE SHANKS (SR VICE PRESIDENT, PUBLIC AFFAIRS)
  • CHARLES AULL (VICE PRESIDENT, POLICY)
  • ELIZABETH DAVISSON (SR VICE PRESIDENT, FOUNDATION)
  • JACQUELINE PITTS (SR VICE PRESIDENT, COMMUNICATIONS - TERM ENDED)
  • LAKISHA MILLER (EXECUTIVE DIRECTOR, WORKFORCE CENTER)

Highest reported compensation

  • ASHLI WATTS (PRESIDENT/CEO): $587,726 total reported compensation
  • JAMES FORD (CHIEF RESOURCE OFFICER): $309,019 total reported compensation
  • KATHERINE SHANKS (SR VICE PRESIDENT, PUBLIC AFFAIRS): $271,536 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support a prosperous business climate in the commonwealth of Kentucky through advocacy, education, information and services in order to promote business retention and recruitment.

What it reported doing in 2024

Publications - publications for sale including state and federal labor laws and regulations, business planning and marketing, environmental issues, and human resources.

Operating model

Revenue model
Other-operating. 84% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 96
  • Accountability: 99
  • Sustainability: 54
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • 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: Yes; rating input score 100

Accountability

  • Independent voting board: 98.4%; rating input score 98; 31st percentile among comparable filings
  • Governance controls: 9 of 9 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12.6%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 1.36; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 19.3%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.9% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 8.4% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 61 of 62 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $588K · 75 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.