THE KENTUCK MUSEUM ASSOCIATION INC

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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

1985

Legal Domicile

Phone

2057581257

Tax Period

2023-01-01 to 2023-12-31

THE KENTUCK MUSEUM ASSOCIATION INC, founded in 1985, is a small nonprofit in the Arts, Culture & Humanities sector that reported $834K in total revenue in fiscal year 2023. Expenses of $1.1M exceeded revenue, resulting in a 27% operating deficit.

Mission

TO PERPETUATE THE ARTS, ENGAGE THE COMMUNITY AND EMPOWER THE ARTIST THROUGH THE KENTUCK ARTS CENTER AND THE KENTUCK FESTIVAL OF THE ARTS.

Program Service Accomplishments

Program 1

Expenses: $340,319 Revenue: $471,569

ANNUAL TWO DAY ARTS & CRAFTS FESTIVAL AT KENTUCK PARK IN NORTHPORT, ALABAMA TO EDUCATE THE PUBLIC AND PROVIDE A MARKET FOR THE ENCOURAGEMENT AND SUPPORT OF TRADITIONAL FOLK ARTS AND CRAFTS AND...

ANNUAL TWO DAY ARTS & CRAFTS FESTIVAL AT KENTUCK PARK IN NORTHPORT, ALABAMA TO EDUCATE THE PUBLIC AND PROVIDE A MARKET FOR THE ENCOURAGEMENT AND SUPPORT OF TRADITIONAL FOLK ARTS AND CRAFTS AND CONTEMPORARY ART. ESTIMATED 325 EXHIBITORS/ARTISTS, ATTENDED BY ESTIMATED 16,000 INDIVIDUALS FROM THE GENERAL PUBLIC.

Program 2

Revenue: $51,460

MEMBERSHIP DUES TO SUPPORT KENTUCK MUSEUM AND HELP CARRY OUT THE ASSOCIATION'S MISSION.

Program 3

Revenue: $48,270

OPERATION OF KENTUCK MUSEUM IN NORTHPORT, ALABAMA TO PROVIDE A MARKET AND EDUCATION OF NATIVE ARTS AND CRAFTS.

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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 $234,765

Program Service Revenue $535,039

Investment Income $0

Other Revenue $64,235

TOTAL REVENUE $834,039

Expense Breakdown

Grants Paid $0

Salaries & Benefits $387,632

Fundraising Expenses $0

Program Expenses $833,047

Other Expenses $671,830

TOTAL EXPENSES $1,059,462

Year-over-Year Comparison

	2023	2022	Change
Revenue	$834,039	$863,735	0.0%
Expenses	$1,059,462	$813,935	+0.3%
Net Income	$-225,423	$49,800	-5.5%

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

Volunteers

N/A

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

$84,300

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMY ECHOLS	FORMER EXEC	40.00	Officer	$84,300	$0	$84,300
LYDA BLACK	DIRECTOR	N/A	Director	$0	$0	$0
BOBBY BRAGG	PRESIDENT	N/A	Officer Director	$0	$0	$0
MIKE ELLIS	DIRECTOR	N/A	Director	$0	$0	$0
AMY GADDY	DIRECTOR	N/A	Director	$0	$0	$0
JASON GUYNES	DIRECTOR	N/A	Director	$0	$0	$0
ANGELA HAMITER	DIRECTOR	N/A	Director	$0	$0	$0
MIKE HENDERSON	DIRECTOR	N/A	Director	$0	$0	$0
GLENDA HOOD	DIRECTOR	N/A	Director	$0	$0	$0
NINI JOBSON	DIRECTOR	N/A	Director	$0	$0	$0
LORETTA JONES	TREASURER	N/A	Officer Director	$0	$0	$0
GRACE LEE	SECRETARY	N/A	Officer Director	$0	$0	$0
SUSAN LYONS	DIRECTOR	N/A	Director	$0	$0	$0
ELIZABETH MCGIFFERT	DIRECTOR	N/A	Director	$0	$0	$0
MICHELLE ROBINSON	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
LEANNE SPENCER	DIRECTOR	N/A	Director	$0	$0	$0
MAX SYNDER	DIRECTOR	N/A	Director	$0	$0	$0
MIKE TIERNEY	DIRECTOR	N/A	Director	$0	$0	$0
TERA TUBBS	DIRECTOR	N/A	Director	$0	$0	$0
DANIEL WHITE	DIRECTOR	N/A	Director	$0	$0	$0
BRYAN WINTER	DIRECTOR	N/A	Director	$0	$0	$0

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	$834,039	$1,059,462	$1,419,504	$-225,423
2022	$863,735	$813,935	$1,513,172	$49,800
2021	$781,984	$674,515	$1,461,511	$107,469
2020	$454,221	$487,661	$1,351,124	$-33,440
2019	$580,131	$709,949	$1,385,985	$-129,818
2018	$600,889	$631,329	$1,452,973	$-30,440