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Nonprofit · EIN 31-1008135

KENTUCKY SCHOOL BOARDS INSURANCE TRUST

Tax-exempt · FRANKFORT, KY 40601

Financials

$7.4M$1.2M2023$7.5M$1.3M2024
Revenue Expenses · by fiscal year end
Financials of KENTUCKY SCHOOL BOARDS INSURANCE TRUST by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$7,532,126$1,277,997$6,254,129$10,766,899$330,110$10,436,789
December 31, 2023990$7,367,845$1,225,612$6,142,233$10,705,064$148,850$10,556,214
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$7,108,301
Investment income
$423,825
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$850,076
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Accounting fees
$25,500
Depreciation
$614
Program services (functional)
$850,076
Management and general (functional)
$427,921

Balance sheet and other

Total assets, start of year
$10,705,064
Total assets, end of year
$10,766,899
Total liabilities, end of year
$330,110
Net assets, end of year
$10,436,789
Land, buildings and equipment
$1,532
Publicly traded securities
$9,343,785
Gross receipts
$7,532,126
Employees
0
Volunteers
9
Year formed
1978
State of legal domicile
KY

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationFrom related orgsOther / benefits
KERRI SCHELLINGKSBA EXECUTIVE DIRECTOR
Officer
0.5$0$184,683$31,781
LEAH HERRERA FROM 124KSBA, CFO
Officer
2$0$100,005$16,783
PAMELA MOREHEADCHAIR ELECT
Trustee or director, Officer
0.5$0$0$0
DAVONNA PAGEPAST CHAIR
Trustee or director, Officer
1$0$0$0
THOMAS BLANDNOMINEE
Trustee or director
0.5$0$0$0
KRISTI WARDNOMINEE
Trustee or director
0.5$0$0$0
DAVID HALLNOMINEE
Trustee or director
0.5$0$0$0
KAREN BYRDCHAIR
Trustee or director, Officer
0.5$0$0$0
MICHAEL ROWENOMINEE
Trustee or director
0.5$0$0$0
MARK THOMASNOMINEE
Trustee or director
0.5$0$0$0
STEVE BECKERNOMINEE
Trustee or director
0.5$0$0$0
990 for the year ended December 31, 2023: 11 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
STEVE SMITHKSBA CHIEF FINANCIAL OFFIC
Officer
2$0$163,634$23,920
PAMELA MOREHEADCHAIR ELECT
Trustee or director, Officer
0.5$0$0$0
BRANDON RUTHERFORDNOMINEE
Trustee or director
0.5$0$0$0
DAVONNA PAGEPAST CHAIR
Trustee or director, Officer
1$0$0$0
THOMAS BLANDNOMINEE
Trustee or director
0.5$0$0$0
CHRIS MCINTYRETRUSTEE
Trustee or director
0.5$0$0$0
DAVID HALLNOMINEE
Trustee or director
0.5$0$0$0
KAREN BYRDCHAIR
Trustee or director, Officer
0.5$0$0$0
MICHAEL ROWENOMINEE
Trustee or director
0.5$0$0$0
MARK THOMASNOMINEE
Trustee or director
0.5$0$0$0
KERRI SCHELLINGKSBA EXECUTIVE DIRECTOR
Officer
0.5$0$0$0

Address and contacts

Address (IRS master file)
260 DEMOCRAT DR, FRANKFORT, KY 40601-9214
Principal officer (990 for 2024)
KAREN BYRD, 260 DEMOCRAT DRIVE, FRANKFORT, KY 40601
Signed the 990
KERRI SCHELLING, KSBA EXECUTIVE DIRECTOR
Phone
(502) 695-4630
Return prepared by
DEMING MALONE LIVESAY & OSTROFF PSC

Mission

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.

990 for the year ended December 31, 2024

Program accomplishments

  • 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.
    Expenses $850,076 · revenue $7,108,301

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
31-1008135
Tax-exempt status
501(c)(4): Social welfare organization
Donations deductible
No
Exempt since
1981
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$10,766,899
Income (IRS master file)
$7,532,126

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$7,532,126$1,277,997$10,766,899XML
990December 2023$7,367,845$1,225,612$10,705,064XML
990December 2022$7,165,748$1,949,063$9,195,507IRS
990December 2021–––IRS
990December 2020–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 31-1008135).

Questions about KENTUCKY SCHOOL BOARDS INSURANCE TRUST

What is the EIN of KENTUCKY SCHOOL BOARDS INSURANCE TRUST?
The employer identification number (EIN) of KENTUCKY SCHOOL BOARDS INSURANCE TRUST is 31-1008135.
Is KENTUCKY SCHOOL BOARDS INSURANCE TRUST tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1981.
Are donations to KENTUCKY SCHOOL BOARDS INSURANCE TRUST tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does KENTUCKY SCHOOL BOARDS INSURANCE TRUST file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of KENTUCKY SCHOOL BOARDS INSURANCE TRUST due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did KENTUCKY SCHOOL BOARDS INSURANCE TRUST last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of KENTUCKY SCHOOL BOARDS INSURANCE TRUST?
The 990 for the year ended December 31, 2024 names KAREN BYRD.
Who are the officers and directors of KENTUCKY SCHOOL BOARDS INSURANCE TRUST?
The 990 for the year ended December 31, 2024 lists 11 people; 0 received compensation from the organization.
How much revenue does KENTUCKY SCHOOL BOARDS INSURANCE TRUST have?
On its 990 for the year ended December 31, 2024 it reported revenue of $7,532,126, expenses of $1,277,997 and total assets of $10,766,899 at year end.

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