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CHARITY REVIEW
Issued: January 2025 Expires: January 2027

Commonwealth Fund For KET, Inc.

Accredited Charity
Accredited Charity

Meets Standards
(859) 258-7000
600 Cooper Dr
Lexington, KY, 40502-1669
https://ket.org/
📄 Full Report 🖨️ Print 📋 BBB Charity Standards

Standards For Charity Accountability

Governance

  1. Board Oversight
  2. Board Size
  3. Board Meetings
  4. Board Compensation
  5. Conflict of Interest

Measuring Effectiveness

  1. Effectiveness Policy
  2. Effectiveness Report

Finances

  1. Program Expenses
  2. Fundraising Expenses
  3. Accumulating Funds
  4. Audit Report
  5. Detailed Expense Breakdown
  6. Accurate Expense Reporting
  7. Budget Plan

Fundraising & Info

  1. Truthful Materials
  2. Annual Report
  3. Website Disclosures
  4. Donor Privacy
  5. Cause Marketing Disclosures
  6. Complaints

Commonwealth Fund For KET, Inc. meets the 20 Standards for Charity Accountability.

Stated Purpose:
Serving the public interest, KET enriches lives and builds stronger communities by educating, informing, inspiring, and connecting people of every age and circumstance through the power of public media.

Year, State Incorporated:
1994, KY

Serving the public’s interest, KET enriches lives and builds stronger communities by educating, informing, inspiring, and connecting people of every age and circumstance through the power of public media. Founded in 1968 with the purpose to equalize educational opportunity for all of Kentucky's citizens, KET continues to provide free, 24-hour, high-quality broadcast television to help children succeed in school and life. Additionally, KET’s education department supports school-readiness, student achievement, and an educated workforce through the creation and delivery of standards-aligned instructional resources and services. Serving two million unique users in eight states weekly, KET is one of the nation's largest public television networks--second largest in the world--and Kentucky's largest classroom, town hall, performance stage, science center, history museum, nature preserve, and more.

For the year ended June 30, 2024, Commonwealth Fund For KET, Inc.'s program expenses were:

Contributions to the Foundation $10,191,000
Total Program Expenses $10,191,000

Chief Executive
Michele Ripley, President

Chair of the Board
Mr. Nick Nicholson

Chair's Profession / Business Affiliation
Retired President, Keeneland

Board Size
17

Paid Staff Size
13

Method(s) Used:
Direct mail appeals, Telephone appeals, Invitations to fund raising events, Print advertisements (newspapers, magazines, etc.), Television, Grant proposals, Internet, Planned giving arrangements, Membership appeals, Appeals via Social Media (Facebook, etc.), Solicitations for Used Cars

% of Related Contributions on Fundraising: 9.53%

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

The following information is based on Commonwealth Fund For KET, Inc.'s audited financial statements for the year ended June 30, 2024.

Source of Funds
Fundraising revenue $7,224,259
Investment return, net $6,749,939
Private gifts and grants $5,382,679
Miscellaneous $27,618
Total Income $19,384,495

Programs: 79% Fundraising: 9% Administrative: 12%

Total Income $19,384,495
Total expenses: $12,939,550
  Program expenses $10,191,000
  Fundraising expenses $1,201,663
  Administrative expenses $1,546,887
  Other expenses $0
Income in Excess of Expenses $6,444,945
Beginning Net Assets $37,981,603
Other Changes In Net Assets $0
Ending Net Assets $44,426,548
Total Liabilities $724,074
Total Assets $45,150,622
Ending net assets as reported above include $39,778,046 in unrestricted net assets and $4,504,651 in restricted net assets.

Total assets as reported above include $193,021 in capital assets, net.

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.

This report is not to be used for fundraising or promotional purposes.

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Report completed by:
BBB serving Greater Kentucky and South Central Indiana