KENTUCKY SCHOOL BOARD ASSOCIATION UNEMPLOYMENT PROGRAM (EIN 311008135) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1978

Legal Domicile

Principal Officer

KAREN BYRD

Phone

5026954630

Tax Period

2023-01-01 to 2023-12-31

KENTUCKY SCHOOL BOARD ASSOCIATION UNEMPLOYMENT PROGRAM, founded in 1978, is a community nonprofit that reported $7.4M in total revenue in fiscal year 2023. The organization ran a surplus of $6.1M, a strong 83% operating margin.

Mission

THE PURPOSE OF THE TRUST SHALL BE TO SERVE AS AN UNEMPLOYMENT CLAIMS MANAGEMENT SERVICE TO MEMBER SCHOOL DISTRICTS AND OTHER TAX SUPPORTED EDUCATIONAL AGENCIES OF KENTUCKY AND NON-PROFIT INSTITUTIONS OF HIGHER EDUCATION LOCATED WITHIN KENTUCKY FOR UNEMPLOYMENT COMPENSATION CLAIMS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $7,038,095

Investment Income $329,750

Other Revenue $0

TOTAL REVENUE $7,367,845

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $806,484

Other Expenses $419,128

TOTAL EXPENSES $1,225,612

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,367,845	$7,165,748	+0.0%
Expenses	$1,225,612	$1,949,063	-0.4%
Net Income	$6,142,233	$5,216,685	+0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$187,554

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAMELA MOREHEAD	CHAIR ELECT	0.50	Officer Director	$0	$0	$0
BRANDON RUTHERFORD	NOMINEE	0.50	Director	$0	$0	$0
DAVONNA PAGE	PAST CHAIR	1.00	Officer Director	$0	$0	$0
THOMAS BLAND	NOMINEE	0.50	Director	$0	$0	$0
CHRIS MCINTYRE	TRUSTEE	0.50	Director	$0	$0	$0
DAVID HALL	NOMINEE	0.50	Director	$0	$0	$0
KAREN BYRD	CHAIR	0.50	Officer Director	$0	$0	$0
MICHAEL ROWE	NOMINEE	0.50	Director	$0	$0	$0
MARK THOMAS	NOMINEE	0.50	Director	$0	$0	$0
KERRI SCHELLING	KSBA EXECUTIVE DIRECTOR	0.50	Officer	$0	$0	$0
STEVE SMITH	KSBA CHIEF FINANCIAL OFFIC	2.00	Officer	$0	$23,920	$187,554

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$7,367,845	$1,225,612	$10,705,064	$6,142,233
2022	$7,165,748	$1,949,063	$9,195,507	$5,216,685
2021	$6,954,916	$1,965,389	$9,762,236	$4,989,527
2020	$6,732,111	$614,386	$10,555,524	$6,117,725
2019	$7,096,186	$2,097,954	$9,708,039	$4,998,232

KENTUCKY SCHOOL BOARD ASSOCIATION UNEMPLOYMENT PROGRAM