2025-03-16T09:59:52-05:00 2024-05-31 273858252 DEAN DORTON ALLEN FORD PLLC 250 W MAIN STREET STE 1400 LEXINGTON KY 40507 990 2023-06-01 310988403 THE TRIANGLE FOUNDATION INC TRIA 8593380369 PO BOX 223 LEXINGTON KY 40588 STEPHEN L GROSSMAN PRESIDENT 8593380369 2025-03-10 1 0 ALLISON C CARTER P01242412 8592552341 2023 2025-03-06 01:10:19Z STEPHEN L GROSSMAN PO BOX 223 LEXINGTON KY 40588 1223577 0 X TRIANGLEPARKLEXINGTON.ORG X 1980 KY SUPPORT PROJECTS THAT BEAUTIFY AND PROMOTE THE RICH KENTUCKY HERITAGE. 9 9 0 82 0 0 16000 23575 0 0 85629 121944 0 0 101629 145519 20000 31250 0 0 0 0 0 0 0 173763 187192 193763 218442 -92134 -72923 16710801 19078881 90909 90909 16619892 18987972 X SEE SCHEDULE O 0 0 199341 31250 MAINTENANCE OF TRIANGLE PARK AND THOROUGHBRED PARK. 199341 1 1 0 0 0 0 0 1 0 0 1 0 0 0 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 0 1 0 0 0 0 1 5 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 0 1 0 0 0 0 0 0 0 KY X THE ORGANIZATION 8593380369 PO BOX 223 LEXINGTON KY 40588 X MR EDWARD S BARR CHAIRMAN 1.00 X X 0 0 0 MR STEPHEN L GROSSMAN PRESIDENT 1.00 X X 0 0 0 MR DOUGLAS DEAN TREASURER 0.20 X X 0 0 0 MR HERBERT A MILLER JR SECRETARY 0.20 X X 0 0 0 MR HEADLEY BELL DIRECTOR 0.20 X 0 0 0 MR STEVEN H CALLER DIRECTOR 0.20 X 0 0 0 MS ELLEN CHAPMAN DIRECTOR 0.20 X 0 0 0 MR WILLIAM ROUSE III DIRECTOR 0.20 X 0 0 0 MR WILLIAM T YOUNG JR DIRECTOR 0.20 X 0 0 0 0 0 0 0 0 0 0 0 23575 23575 205996 205996 994006 1078058 -84052 -84052 -84052 145519 0 0 121944 31250 31250 4500 4500 71252 71252 8903 8903 REPAIRS AND MAINTENANCE 50977 50977 SECURITY 26151 26151 PARK UTILITY EXPENSES 15211 15211 PROFESSIONAL AND CONTRA 10188 10188 10 10 218442 199341 19101 0 34751 40770 277905 999071 7641291 2045296 5571880 5595995 10826265 12443045 16710801 19078881 90909 90909 90909 90909 X 16619892 18987972 16619892 18987972 16710801 19078881 -72923 2441003 0 X X 1 X 0 1 0 X 29000 12500 28000 16000 23575 109075 29000 12500 28000 16000 23575 109075 13720 95355 151999 129279 149162 161475 205996 797911 906986 0.10510 0.10110 X X SECTION 1.170A-9(F)(3) PROVIDES THAT THE DETERMINATION OF WHETHER AN ORGANIZATION IS "PUBLICLY SUPPORTED" UNDER THE FACTS AND CIRCUMSTANCES TEST REQUIRES MEETING TWO TESTS:TEN PERCENT SUPPORT LIMITATION. THE ORGANIZATION MUST RECEIVE AT LEAST 10 PERCENT OF ITS TOTAL SUPPORT FROM GOVERNMENTAL AND PUBLIC SUPPORT. ATTRACTION OF PUBLIC SUPPORT. THE ORGANIZATION MUST BE ORGANIZED AND OPERATED TO ATTRACT NEW AND ADDITIONAL PUBLIC OR GOVERNMENTAL SUPPORT ON A CONTINUOUS BASIS, GIVING CONSIDERATION TO WHETHER THE SCOPE OF ITS FUNDRAISING ACTIVITIES IS REASONABLE IN LIGHT OF ITS CHARITABLE ACTIVITIES. THE TRIANGLE FOUNDATION CARRIED OUT A LARGE FUNDRAISING CAMPAIGN A NUMBER OF YEARS AGO TO ADD NEW PUBLIC PARKS AND PUBLIC ART FEATURES THAT RESULTED IN EXCESS FUNDS AND NO ADDITIONAL FUNDS ARE CURRENTLY NEEDED UNTIL FUTURE COMMUNITY IMPROVEMENT PROJECTS ARE UNDERTAKEN. THE FOUNDATION BELIEVES THAT ITS FUNDRAISING ACTIVITIES ARE CONSISTENT WITH ITS CURRENT NEEDS. ADDITIONAL CONSIDERATIONS. THE REGULATION PROVIDES ADDITIONAL FACTORS TO BE CONSIDERED IN DETERMINING WHETHER AN ORGANIZATION IS PUBLICLY SUPPORTED. THESE INCLUDE:THE PERCENTAGE OF FINANCIAL SUPPORT. IN THE EARLY 2010S, THE TRIANGLE FOUNDATION'S PUBLIC SUPPORT HOVERED AROUND THE 33.33% MARK, BUT IN THE LAST TWELVE YEARS IT HAS DROPPED FROM 27.70% TO THE CURRENT YEAR'S 10.51%. AS DISCUSSED ABOVE, THE FOUNDATION HAS STEPPED BACK FROM ACTIVE SOLICITATIONS IN LIGHT OF ITS CURRENT LOW LEVEL OF NEED FOR ADDITIONAL FUNDS IN RELATION TO ITS LIQUID ASSETS. THE TRIANGLE FOUNDATION RECENTLY CONSTRUCTED A LARGER-THAN-LIFE STATUE OF THE FAMED RACEHORSE AND STALLION SECRETARIAT AT THE GATEWAY BETWEEN LEXINGTON'S CORE AND ITS TRADEMARK HORSE FARMS. THE COST OF THAT PROJECT WAS ABSORBED FROM EXISTING FUNDS. THE FOUNDATION'S EXECUTIVE COMMITTEE FREQUENTLY EVALUATES NEW PROJECTS IN ACCORDANCE WITH ITS MISSION AND IT IS ANTICIPATED THAT THE FUNDS HELD BY THE TRIANGLE FOUNDATION WILL BE EXPENDED OVER TIME TO ADD NEW PUBLIC-PRIVATE PROJECTS.SOURCES OF SUPPORT. CONSISTENT WITH THE DISCUSSION ABOVE, THE TRIANGLE FOUNDATION'S SOURCES OF SUPPORT HAVE NARROWED OVER THE PAST DECADE.REPRESENTATIVE GOVERNING BODY. THE TRIANGLE FOUNDATION HAS A LARGE BOARD AND MEMBERSHIP THAT IS BROADLY REPRESENTATIVE OF THE COMMUNITY AND THAT HAS AN INTEREST IN ADVANCING THE MISSION OF THE TRIANGLE FOUNDATION AND ITS PUBLIC-PRIVATE PARTNERSHIP PROJECTS. AVAILABILITY OF PUBLIC FACILITIES OR SERVICES. THE TRIANGLE FOUNDATION PROVIDES FACILITIES FOR THE DIRECT BENEFIT OF THE GENERAL PUBLIC ON A CONTINUING BASIS AND HAS AN EXTREMELY BROAD IMPACT ON THE COMMUNITY AT LARGE AS WELL AS ON INDIVIDUALS WHO USE ITS FACILITIES. SEE THE FOUNDATION'S MISSION STATEMENT ON SCHEDULE O FOR ADDITIONAL INFORMATION. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1729666 X X 0 3004035 3004035 4637256 2045296 2591960 5595995 DEPOSIT HELD FOR CONSTRUCTION EASEMENT 90909 90909 PART III, LINE 4: THE ORGANIZATION'S SOLE PURPOSE IS TO CONSTRUCT AND MAINTAIN PUBLIC PARKS AND ENHANCEMENTS TO OTHER PUBLIC FACILITIES IN LEXINGTON, KY. THE ORGANIZATION'S COLLECTION CONSISTS PRIMARILY OF VARIOUS SCULPTURES AND STATUES WHICH CAPTURE THE CULTURE AND HERITAGE OF THE AREA. SEE MISSION STATEMENT ON SCHEDULE O FOR FURTHER INFORMATION. 0 LEXINGTON CENTER CORPORATION 430 WEST VINE STREET LEXINGTON KY 40507 610734772 501(C)(3) 31250 0 TO SUPPORT THE MISSION OF PROVIDING FACILITIES FOR PUBLIC USE 1 FORM 990, PART VI, SECTION A, LINE 6 PERSONS INTERESTED IN FOSTERING AND PROMOTING THE PURPOSE AND MISSION OF THE ORGANIZATION, AND MAKING THE FINANCIAL CONTRIBUTION AT THE LEVEL ESTABLISHED BY THE EXECUTIVE BOARD, ARE ELIGIBLE FOR MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP MAY REMOVE ANY DIRECTOR BY AN AFFIRMATIVE VOTE OF TWO-THIRDS OR MORE OF ALL VOTING MEMBERS PRESENT IN PERSON OR BY PROXY AT A DULY CALLED MEETING OF THE BOARD OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS SHALL NOT HAVE ANY RIGHTS TO VOTE, EXCEPT FOR APPROVAL OF OR TAKING THE FOLLOWING ACTIONS: - THE MEMBERSHIP MAY REMOVE A MEMBER FROM MEMBERSHIP UPON THE AFFIRMATIVE VOTE OF TWO-THIRDS OR MORE OF ALL VOTING MEMBERS; - ANY AMENDMENT TO ARTICLE III OF THE BY-LAWS OR THE ARTICLES OF INCORPORATION SHALL REQUIRE THE APPROVAL OF TWO-THIRDS OR MORE OF ALL VOTING MEMBERS; - ANY MERGER INVOLVING THE ORGANIZATION OR SALE, LEASE, EXCHANGE, MORTGAGE OR PLEDGE OF SUBSTANTIALLY ALL ASSETS OF THE ORGANIZATION SHALL REQUIRE APPROVAL TWO-THIRDS OR MORE OF ALL VOTING MEMBERS. THE SALE OF INVESTMENTS, THE PROCEEDS OF WHICH ARE REINVESTED, SHALL NOT REQUIRE MEMBER APPROVAL. - ANY ELECTION TO DISSOLVE THE ORGANIZATION SHALL REQUIRE THE APPROVAL OF TWO-THIRDS OR MORE OF ALL VOTING MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE TREASURER, WHO IS A CPA, ON BEHALF OF THE EXECUTIVE COMMITTEE PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15 THERE ARE NO PAID EMPLOYEES, THEREFORE THE ORGANIZATION HAS NOT ADOPTED A PROCESS FOR DETERMINING COMPENSATION. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S FORMS 1023, 990, AND 990T ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT CURRENTLY MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 1 MODIFIED CASH BASIS FORM 990, PART XII, LINE 2C THE PROCESS FOR OVERSIGHT OF THE COMPILATION AND SELECTION OF THE INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. PART III, LINE 1 CONTINUATION THE TRIANGLE FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION DEDICATED TO PROVIDING FUNDS TO CREATE PUBLIC SPACES FOR THE BENEFIT OF LEXINGTON'S COMMUNITY AND VISITORS. THESE SPACES BEAUTIFY AND PROMOTE RICH KENTUCKY HERITAGE AND PROVIDE PUBLIC GATHERING SPACES FOR A WEALTH OF EVENTS. TRIANGLE PARK. THE FOUNDATION'S FIRST AND MOST ENDURING PARK IN DOWNTOWN LEXINGTON. THIS FACILITY HAS BEEN ONE OF THE CENTERS BRINGING DOWNTOWN LEXINGTON BACK TO LIFE. EDGED BY A BEAUTIFUL AND UNIQUE STEPPED FOUNTAIN, THE PARK PROVIDES PUBLIC SPACE FOR NUMEROUS PUBLIC ACTIVITIES, INCLUDING FREE FRIDAY OUTDOOR MOVIES IN THE SUMMER AND ICE SKATING IN THE WINTER, PUBLIC SEATING FOR OUTDOOR DINING FROM LOCAL EATERIES YEAR-ROUND, MUSIC AND THEATRICAL PRODUCTIONS, YOGA, OPEN-AIR ART CLASSES AND OTHER PUBLIC EVENTS. THOROUGHBRED PARK. A 2.75 ACRE PARK LOCATED AT THE EDGE OF DOWNTOWN NEAR LEXINGTON'S FIRST RACETRACK, THIS PARK CONTAINS TWELVE BRONZE STATUES PAYING TRIBUTE TO VARIOUS ASPECTS OF KENTUCKY'S THOROUGHBRED HERITAGE. INCLUDED ARE "THE MEADOW," WHERE BRONZE MARES AND FOALS "FROLIC", PROVIDING GREENSPACE AND WALKING PATHS FOR VISITORS TO ENJOY OUTDOOR SPACES; "THE TRACK" WITH SEVEN LIFE-SIZE BRONZE STATUTES OF THOROUGHBREDS AND JOCKEYS "RACING" TO THE FINISH LINE; AND "THE WINNER'S CIRCLE" WITH TWO THOROUGHBREDS NECK AND NECK AT THE FINISH LINE, PROVIDING VISITORS WITH A LARGE FLOWER BED AND POOL WITH FOUNTAIN. EQUESTRIAN PARK AT BLUEGRASS AIRPORT. LIFE-SIZE SCULPTURES OCCUPY THREE WALKING RINGS THAT REPLICATE KEENELAND'S PADDOCK WELCOME VISITORS TO THE THOROUGHBRED CAPITAL OF THE WORLD AND HAS SOFTENED THE HARDSCAPE OF THE AIRPORT SIGNIFICANTLY. WOODLAND SKATEBOARD PARK. WOODLAND PARK IS ONE OF LEXINGTON'S OLDEST PARKS, HOME TO NUMEROUS ACTIVITIES FOR VISITORS TO ENGAGE IN AND HOST TO NUMEROUS VISUAL ARTS, LOCAL CRAFTS, RECREATION FACILITIES AND THEATRICAL EVENTS. IN 1999, THE TRIANGLE FOUNDATION BROUGHT 12,000 SQUARE FEET OF RAMPS, PLATFORMS, BOWLS, AND PIPES FOR BOTH AMATEURS AND PROFESSIONALS TO ENJOY AT NO COST. SECRETARIAT. A LARGER-THAN-LIFE STATUE OF THE FAMED RACEHORSE SECRETARIAT STANDS AT THE GATEWAY BETWEEN LEXINGTON'S CORE AND ITS TRADEMARK HORSE FARMS. THESE SPACES ARE PRIMARILY MAINTAINED BY LOCAL GOVERNMENT OR QUASI-GOVERNMENTAL ENTITIES WITH THE TRIANGLE FOUNDATION PROVIDING ADDITIONAL FUNDS AS NEEDED. SIGNIFICANT REPAIRS AND/OR NEEDED RENOVATIONS ARE FREQUENTLY FUNDED BY THE TRIANGLE FOUNDATION TO ENSURE THAT THESE PARKS REMAIN AVAILABLE TO THE PUBLIC FOR MANY YEARS TO COME. TRIANGLE PARK CAFE LLC PO BOX 223 LEXINGTON KY 40584 TO PROMOTE ACTIVITIES IN TRIANGLE PARK KY -4124 18767 TRIANGLE FOUNDATION INC