Louisville Third Century Inc

What it reported doing in 2024

In january, a 10,000 deposit was paid toward a "presenting sponsorship." l3c was able to fulfill our mission as a catalyst in support of other non- profits. In the immediate smc regina's center, (formerly st. Mary's center) a regional resource dedicated to serving adults with mental disabilities. Louisville kosair shriners' assistance programs for disabled children. Angels in disguise, a local chapter with national reach in support of families with down syndrome. ( our newest, most heart-warming recipient of catalyst funding). We look forward to continuing these associations for the foreseeable future. L3c has begun the work to bring back, the louisville dragonboat festival an unfortunate casualty of covid travel restrictions. Dragonboating is the fastest growing watersport worldwide. The 502 dragonboat club, which owes its genesis to our pre-covid festivals will champion louisville in the region's only interstate, nationally sanctioned watersport competition. In past years teams from 7 states and canada vied to earn placement in the international and u.s. Dragon boat association annual championships. Louisville third century has met with the wagner group to rekindle our longstanding association with the city's major festivals. Louisville third century's steeple chase - a family-focused event designed to visit the city's diverse collection of churches and synagogues showcasing their traditional holiday celebrations, while highlighting their remarkable art and architecture. A nod to local philanthropist mary bingham's campaign to "re light" louisville's steeples following the blackouts of wwii, this multiple night event seems a natural for incorporation into the four-week light up louisville festival. Initiated by president jones and the executive director of the home builders' exchange, this multi-state raffle will award the winner a comprehensive kitchen renovation, encompassing all aspects from flooring to lighting. The prize includes expert design consultation as well as reconstruction of elements such as cabinetry, appliances, plumbing, countertops, paint, and wallpaper. It has been proposed that the award be presented during light up, providing a wonderful way to mark the season of giving. Louisville third century faced significant challenges in 2024, many of which may well continue into 2025. Nevertheless, we remain dedicated to our mission to be a catalyst for greater economic, civic, educational, and cultural opportunities across metro louisville imparting outcomes that will endure for the overall quality of life to the benefit of everyone who works, plays, and calls louisville home.

Financial Efficiency

• Mission deployment rate: 46.4%; rating input score 46
• Program expense ratio: 45%; rating input score 45
• Fundraising efficiency: $0.03 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings

Transparency & Controls

• Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 83.3%; rating input score 83; 49th percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
• Governance controls: 3 of 9 controls in place; rating input score 33
  • Conflict-of-interest policy: Fail
  • Whistleblower policy: Fail
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -3.2%; rating input score 32; 32nd percentile among comparable filings
• Total-asset coverage ratio: 0.47; rating input score 23; 23rd percentile among comparable filings
• Liabilities to assets ratio: 0.04; rating input score 34; 34th percentile among comparable filings
• Officer compensation ratio: 66.6%; rating input score 2; 2nd percentile among comparable filings

Growth

• Program expense growth: -7.8% per year; rating input score 0; 13th percentile among comparable filings
• Revenue growth: -2.9% per year; rating input score 0; 14th percentile among comparable filings
• Asset growth: -2.1% per year; rating input score 0; 18th percentile among comparable filings