2025-08-04T14:37:03-05:00 2024-09-30 621199757 LBMC PC 325 WEST MAIN STREET STE 1600 LOUISVILLE KY 40202 990 2023-10-01 311023459 KENTUCKY DERBY MUSEUM CORPORATION KENT 5026371111 PO BOX 21177 LOUISVILLE KY 402210177 PATRICK ARMSTRONG PRESIDENT AND CEO 5026371111 2025-07-17 1 1 ABIGAIL CAMPBELL P01296738 5025851600 2023 2025-03-06 01:10:19Z PATRICK ARMSTRONG PO BOX 21177 LOUISVILLE KY 402210177 12840938 0 X WWW.DERBYMUSEUM.ORG X 1981 KY ENGAGE,EDUCATE, AND EXCITE EVERYONE ABOUT THE EXTRAORDINARY KENTUCKY DERBY EXPERIENCE! 23 23 138 37 933185 0 1848690 624598 4060429 4535841 670101 666085 3061518 3422691 9640738 9249215 0 0 0 0 3342786 3668085 0 0 196403 4408197 4689858 7750983 8357943 1889755 891272 35180528 41138988 662099 1757333 34518429 39381655 TO ENGAGE,EDUCATE, AND EXCITE EVERYONE ABOUT THE EXTRAORDINARY EXPERIENCE THAT IS THE KENTUCKY DERBY! 0 0 6607259 6491112 THE MUSEUM'S EXHIBITS DOCUMENT THE HISTORY AND TRADITION OF THE KENTUCKY DERBY, CHURCHILL DOWNS AND THOROUGHBRED RACING. IN ADDITION, THE MUSEUM OFFERS A FREE KIDS PROGRAM TO ALL PUBLIC AND PAROCHIAL SCHOOLS IN INDIANA AND KENTUCKY. THE MUSEUM ALSO HAS AN OUTREACH PROGRAM THAT TRAVELS TO COMMUNITIES WITHIN KENTUCKY TO EDUCATE KENTUCKY YOUTH ABOUT THE ECONOMICS, HISTORY AND SIGNIFICANCE OF THE KENTUCKY DERBY. 6607259 1 1 0 0 0 0 0 1 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 13 0 1 138 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 1 0 0 KY X PATRICK ARMSTRONG 5026371111 PO BOX 21177 LOUISVILLE KY 402210177 PATRICK ARMSTRONG PRESIDENT & CEO 40.00 X 247813 0 8333 KATIE FUSSENEGGER EXECUTIVE VICE-PRESIDENT 40.00 X 148935 0 13981 DENNIS BURCH SENIOR DIRECTOR OF ACCOUNTING & FINANCE 40.00 X 120625 0 6700 JEFF KENNEDY SENIOR DIRECTOR OF TECHNOLOGY 40.00 X 104204 0 10901 DAVID NETT CHAIRMAN 5.00 X X 0 0 0 GLENN HAYGOOD PAST CHAIRMAN 5.00 X X 0 0 0 TODD SPENCER TREASURER 5.00 X X 0 0 0 BRIANA LATHON SECRETARY 5.00 X X 0 0 0 MIKE ANDERSON DIRECTOR 5.00 X 0 0 0 MARK BACON DIRECTOR 5.00 X 0 0 0 JILL BAFFERT DIRECTOR 5.00 X 0 0 0 TAWANA BAIN DIRECTOR 5.00 X 0 0 0 CLEO BATTLE DIRECTOR 5.00 X 0 0 0 BILL BEAM JR DIRECTOR 5.00 X 0 0 0 LISA BENSON DIRECTOR 5.00 X 0 0 0 RHONDA JO CONNER DIRECTOR 5.00 X 0 0 0 ASHLY DAVIS-SIGMAN DIRECTOR 5.00 X 0 0 0 PAT DAY DIRECTOR 5.00 X 0 0 0 CRAIG DILGER DIRECTOR 5.00 X 0 0 0 ANITA EBERT DIRECTOR 5.00 X 0 0 0 STEVE ESTEPP DIRECTOR 5.00 X 0 0 0 CLINTON GLASSCOCK DIRECTOR 5.00 X 0 0 0 MIKE GUENTHNER DIRECTOR 5.00 X 0 0 0 BRANDY HARMON DIRECTOR 5.00 X 0 0 0 LOREN HEBEL-OSBORNE DIRECTOR 5.00 X 0 0 0 JOSH HEIRD DIRECTOR 5.00 X 0 0 0 JA HILLENBRAND DIRECTOR 5.00 X 0 0 0 MICHAEL JUDAH DIRECTOR 5.00 X 0 0 0 EAMON O'BRIEN DIRECTOR 5.00 X 0 0 0 MASON RUMMEL DIRECTOR 5.00 X 0 0 0 SEEMA SHETH DIRECTOR 5.00 X 0 0 0 EDEN BRIDGEMAN SKLENAR DIRECTOR 5.00 X 0 0 0 FRANK THOMPSON DIRECTOR 5.00 X 0 0 0 HAROLD WORKMAN DIRECTOR 5.00 X 0 0 0 621577 0 39915 4 0 1 0 DOE ANDERSON 680 S 4TH STREET LOUISVILLE KY 40202 ADVERTISING 311327 DONNA LAWRENCE PRODUCTIONS PO BOX 4608 LOUISVILLE KY 40204 GREATEST RACE UPDATE 268980 BADGETT CONSTRUCTORS LLC 217 E BURNETT AVE LOUISVILLE KY 40208 GENERAL CONSTRUCTION 261007 SOLID LIGHT 800 SOUTH FIFTH STREET LOUISVILLE KY 40203 LIGHTS FOR EXHIBITS 209552 HENDERSON SERVICES LLC 4502 POLPAR LEVEL ROAD LOUISVILLE KY 40213 ELECTRICAL WORK 161397 5 624598 624598 ADMISSIONS 713990 3954516 3954516 CATERING INCOME 722320 539628 539628 MEMBERSHIP INCOME 713990 41697 41697 4535841 618168 618168 654076 583643 70433 70433 70433 56659 3000 0 11742 56659 -8742 47917 47917 790080 255845 534235 534235 5474997 2740493 2734504 1801319 933185 OTHER INCOME 900099 83519 83519 83519 9249215 6491112 933185 1200320 383471 383471 2754941 2201095 446759 107087 73974 55800 15431 2743 256969 204757 40269 11943 198730 140048 51868 6814 5284 5284 24400 24400 88943 88943 92378 88256 3922 200 604106 556436 45725 1945 531051 480691 49547 813 402511 323032 70978 8501 597712 597712 1669537 1328429 286385 54723 55276 35030 20200 46 441580 441580 EXHIBITION EXPENSE 136049 136049 PROGRAMMING EXPENSE 23306 23306 OTHER 17725 -4962 21099 1588 8357943 6607259 1554281 196403 7776 13775 2695955 2045607 133958 266198 1204433 911556 45669 106546 38007355 25115303 10736540 12892052 20134005 24632035 221692 271219 500 0 35180528 41138988 493696 557549 168403 1199784 662099 1757333 X 34518429 39381655 34518429 39381655 35180528 41138988 891272 3971954 0 X 0 1 X 1 0 X 330917 4949557 406994 1848690 624598 8160756 1862713 3134097 5201137 5723535 6503916 22425398 29132 574960 778873 821163 790080 2994208 2222762 8658614 6387004 8393388 7918594 33580362 5000 7000 12000 292667 515186 807853 297667 515186 7000 819853 32760509 350965 339011 430703 595651 618168 2334498 1179549 2169893 2892907 3484904 4160998 13888251 1530514 2508904 3323610 4080555 4779166 16222749 35417 83519 118936 3753276 11167518 9710614 12509360 12781279 49922047 0.65620 0.92930 0.32500 0.07070 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 51427 51427 19467594 10705924 8761670 437555 297811 139744 16760338 13876566 2883772 1290441 235002 1055439 12892052 X 13971714 3971954 839488 4811442 9160272 88943 88943 9249215 9108488 839488 839488 8269000 88943 88943 8357943 PART III, LINE 4: THE MUSEUM'S COLLECTIONS ARE MADE UP OF ARTIFACTS OF HISTORICAL SIGNIFICANCE AND ART OBJECTS THAT ARE HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. THE COLLECTIONS ARE SUBJECT TO A POLICY THAT REQUIRES PROCEEDS FROM THEIR SALES TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. PART X, LINE 2: THE MUSEUM IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE MUSEUM IS SUBJECT TO INCOME TAXES ON PROFITS GENERATED BY THE SALE OF ITEMS DEEMED UNRELATED TO THE MUSEUM'S EXEMPT OPERATING PURPOSE. THE MUSEUM HAS GENERATED NET TAX OPERATING LOSSES SINCE INCEPTION AND, AS SUCH, HAS PAID NO INCOME TAXES. THE MUSEUM HAS NET OPERATING LOSS CARRY FORWARDS OF $4,165,709 AND $3,936,658 (EXPIRING FROM 2025 THROUGH 2035) FOR 2024 AND 2023, RESPECTIVELY, AVAILABLE TO OFFSET FUTURE TAXABLE INCOME, IF ANY. THIS RESULTS IN A DEFERRED TAX ASSET OF $874,799 AND $826,699 FOR 2024 AND 2023, RESPECTIVELY, WHICH IS FULLY OFFSET BY A VALUATION ALLOWANCE SINCE MANAGEMENT CANNOT PREDICT WHEN, IF EVER, SUCH AN ASSET WOULD BE REALIZED. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 255,845. RENTAL EXPENSES 583,643. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 255,845. RENTAL EXPENSES 583,643. DERBY PARTY 238500 238500 44071 OAKS PARTY 238500 238500 44071 2 313080 313080 167703 790080 790080 255845 255845 534235 KY 1 0 0 0 0 0 1 X 0 0 0 0 0 0 0 0 0 PATRICK ARMSTRONG PRESIDENT & CEO 227813 0 20000 0 0 0 8333 0 0 0 256146 0 0 0 KATIE FUSSENEGGER EXECUTIVE VICE-PRESIDENT 136435 0 12500 0 0 0 5393 0 8588 0 162916 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE SENIOR DIRECTOR OF FINANCE, THE PRESIDENT, AND THE CEO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS MEETS ANNUALLY TO REVIEW THE PERFORMANCE AND DETERMINE ANY COMPENSATION CHANGES FOR THE PRESIDENT AND CEO. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.