2024-11-12T11:36:10-06:00 2023-12-31 611064249 DEMING MALONE LIVESAY & OSTROFF PSC 9300 SHELBYVILLE ROAD SUITE 1100 LOUISVILLE KY 402225187 990 2023-01-01 311008135 KENTUCKY SCHOOL BOARD ASSOCIATION UNEMPLOYMENT PROGRAM KENT 5026954630 260 DEMOCRAT DR FRANKFORT KY 40601 KERRI SCHELLING KSBA EXECUTIVE DIRECTOR 5026954630 2024-11-12 1 0 MELINDA L HECK P01392306 5024269660 2024-11-08 2023 2024-10-15 13:58:12Z X KAREN BYRD 260 DEMOCRAT DRIVE FRANKFORT KY 40601 7367845 0 X NA X 1978 KY 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. 9 9 0 9 0 0 0 0 6974671 7038095 191077 329750 0 0 7165748 7367845 0 0 1532416 806484 0 0 0 0 0 416647 419128 1949063 1225612 5216685 6142233 9195507 10705064 1247895 148850 7947612 10556214 THE PURPOSE OF THE TRUST SHALL BE TO SERVE AS AN UNEMPLOYMENT CLAIMS MANAGEMENT AND PAYMENT SERVICE TO MEMBER SCHOOL DISTRICTS AND OTHER TAX SUPPORTED EDUCATIONAL AGENCIES OF KENTUCKY AND NON-PROFIT INSTITUTIONS OF HIGHER EDUCATION LOCATED WITHIN KENTUCKY. 0 0 806484 7038095 THE KENTUCKY SCHOOL BOARDS INSURANCE TRUST WAS ORGANIZED AS A NON-PROFIT SELF-INSURANCE TRUST ADMINISTERED BY THE KENTUCKY SCHOOL BOARDS ASSOCIATION. THE PURPOSE OF THE TRUST IS TO SERVE AS AN UNEMPLOYMENT CLAIMS MANAGEMENT AND PAYMENT SERVICE TO MEMBER KENTUCKY BOARDS OF EDUCATION (TAX SUPPORTED POLITICAL SUBDIVISIONS) FOR UNEMPLOYMENT COMPENSATION CLAIMS. 806484 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 KY X KENTUCKY SCHOOL BOARDS INSURANCE TR 5026954630 260 DEMOCRAT DR FRANKFORT KY 40603 PAMELA MOREHEAD CHAIR ELECT 0.50 X X 0 0 0 BRANDON RUTHERFORD NOMINEE 0.50 X 0 0 0 DAVONNA PAGE PAST CHAIR 1.00 X X 0 0 0 THOMAS BLAND NOMINEE 0.50 X 0 0 0 CHRIS MCINTYRE TRUSTEE 0.50 X 0 0 0 DAVID HALL NOMINEE 0.50 X 0 0 0 KAREN BYRD CHAIR 0.50 X X 0 0 0 MICHAEL ROWE NOMINEE 0.50 X 0 0 0 MARK THOMAS NOMINEE 0.50 X 0 0 0 KERRI SCHELLING KSBA EXECUTIVE DIRECTOR 0.50 X 0 0 0 STEVE SMITH KSBA CHIEF FINANCIAL OFFIC 2.00 38.00 X 0 163634 23920 0 163634 23920 0 0 1 0 0 PREMIUMS EARNED 525100 7038095 7038095 7038095 329750 329750 7367845 7038095 0 329750 806484 806484 23200 23200 25229 25229 10885 10885 1127 1127 ADMINISTRATIVE FEES PAI 323930 323930 OTHER INSURANCE 32294 32294 CONSULTING 1923 1923 BANK SERVICE CHARGES 540 540 1225612 806484 419128 0 814851 1500176 523547 491336 16724 28605 56821 54675 720 2146 7839665 8682801 9195507 10705064 1028581 47040 219314 101810 1247895 148850 X 0 0 0 0 7947612 10556214 7947612 10556214 9195507 10705064 X 6142233 591698 -4125329 X X 0 1 X 1 0 56821 54675 2146 2146 DUE TO RELATED PARTIES 50867 REFUNDABLE CONTRIBUTIONS 50943 101810 X 7934314 591698 591698 7342616 25229 25229 7367845 1200383 0 1200383 25229 25229 1225612 PART X, LINE 2: THE FUND IS EXEMPT FROM INCOME TAXES UNDER SECTION 115 OF THE INTERNAL REVENUE CODE. THE FUND IS INCLUDED IN THE TRUST'S INFORMATIONAL TAX RETURN FILED IN THE U.S. FEDERAL JURISDICTION. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE FUND'S TAX-EXEMPT PURPOSE COULD BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. AS OF DECEMBER 31, 2023 AND 2022, THE FUND DID NOT HAVE ANY ACCRUED INTEREST OR PENALTIES RELATED TO INCOME TAX LIABILITIES, AND NO INTEREST AND PENALTIES HAVE BEEN CHARGED TO OPERATIONS FOR THE YEARS ENDED DECMEBR 31, 2023 AND 2022, RESPECTIVELY. 0 0 0 0 0 0 0 0 0 STEVE SMITH KSBA CHIEF FINANCIAL OFFIC 0 163634 0 0 0 0 0 16735 0 7185 0 187554 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE TRUST'S CFO AND OUTSIDE AUDIT FIRM WILL PREPARE FORM 990 WHICH WILL BE PROVIDED TO THE FULL BOARD OF TRUSTEES (WITH SALARY INFORMATION REDACTED) FOR REVIEW PRIOR TO FILING. THE TRUST'S PRESIDENT WILL REVIEW AND SIGN THE FORM FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C THE TRUSTEE, OR KEY EMPLOYEE AFFIANT IS REQUIRED BY THEIR AFFIDAVIT TO NOTIFY THE TRUST SHOULD A CONFLICT ARISE SUBSEQUENT TO THE SUBMISSION OF THE AFFIDAVIT. THE TRUST OBTAINS AFFIDAVITS FROM TRUSTEES AND ALL EMPLOYEES ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE AMOUNT OF REPORTABLE OFFICER COMPENSATION DISCLOSED IN PART VII, SECTION A, COLUMN E, WAS REIMBURSED BY KSBIT AND IS INCLUDED IN ADMINISTRATIVE FEES PAID IN THE STATEMENT OF FUNCTIONAL EXPENSES, PART IX. THIS EXPENSE IS REIMBURSED TO THE KENTUCKY SCHOOL BOARDS ASSOCIATION (KSBA) UNDER THE ADMINISTRATIVE SERVICE EXPENSE REIMBURSEMENT AGREEMENT, BETWEEN THE KENTUCKY SCHOOL BOARDS INSURANCE TRUST (KSBIT) AND KSBA. OFFICER COMPENSATION ALLOCATED TO KSBIT FOR REIMBURSEMENT IS INCLUDED IN THE ANNUAL BUDGET APPROVED BY KSBIT TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS,GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: DEFICIT BILLINGS 352,672. RETURN OF PREMIUMS TO MEMBERS -4,478,001. PART XII, LINE 2C THE TRUST'S BOARD OF DIRECTORS OVERSEES THE SELECTION OF THE AUDITORS AND THE AUDIT PROCESS BOTH IN PRIOR AND SUBSEQUENT YEARS WHEN AN AUDIT IS PERFORMED. KENTUCKY SCHOOL BOARDS ASSOCIATION 260 DEMOCRAT DRIVE FRANKFORT KY 40601 610549868 PROMOTE THE IMPROVEMENT OF PUBLIC EDUCATION IN KENTUCKY KY 501(C)4 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 KENTUCKY SCHOOL BOARDS ASSOCIATION P 323930 CONTRACTUAL AGREEMENTS