Kentucky Derby Museum
Meets Standards
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
Kentucky Derby Museum meets the 20 Standards for Charity Accountability.
Stated Purpose:
To engage, educate, and excite everyone about the extraordinary experience that is the Kentucky Derby.
Year, State Incorporated:
1981, KY
Kentucky Derby Museum welcomes guests from around the world to experience the Kentucky Derby. As the official tour provider of Churchill Downs Racetrack, the Museum offers exclusive tours, immersive exhibits, a 360° iconic film, and historic walking tours of the track. The Museum provides an authentic and immersive experience year-round.
For the year ended September 30, 2024, Kentucky Derby Museum's program expenses were:
| Auxiliary Services | $3,404,755 |
| Exhibitions | $1,233,984 |
| Marketing and Communications | $1,189,793 |
| Education | $394,846 |
| Collection | $383,881 |
| Total Program Expenses | $6,607,259 |
Chief Executive
Patrick Armstrong, President/CEO
Chair of the Board
Mr. David Nett
Chair's Profession / Business Affiliation
Retired, The Kroger Company
Board Size
22
Paid Staff Size
107
Method(s) Used:
Telephone appeals, Invitations to fund raising events, Print advertisements (newspapers, magazines, etc.), Grant proposals, Cause-related marketing (affinity credit cards, consumer product sales, etc.), Membership appeals, Appeals via Social Media (Facebook, etc.)
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 Kentucky Derby Museum's audited financial statements for the year ended September 30, 2024.
Source of Funds
| Admissions and rentals | $4,608,592 |
| Unrealized gains on investments | $3,971,954 |
| Gift shop revenue, net | $2,734,504 |
| Special events | $790,080 |
| Contributions, grants, sponsorships | $624,598 |
| Café and event catering commission income | $539,628 |
| Investment income, net | $529,225 |
| Other | $83,519 |
| Realized gains on investments | $56,659 |
| Memberships | $41,697 |
| Gain (loss) on disposal of property and equipment | $-8,742 |
| Total Income | $13,971,714 |
Programs: 73% Fundraising: 2% Administrative: 16%
| Total Income | $13,971,714 |
| Total expenses: | $9,108,488 |
| Program expenses | $6,607,259 |
| Fundraising expenses | $196,403 |
| Administrative expenses | $1,465,338 |
| Other expenses | $839,488 |
| Income in Excess of Expenses | $4,863,226 |
| Beginning Net Assets | $34,518,429 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $39,381,655 |
| Total Liabilities | $1,757,333 |
| Total Assets | $41,138,988 |
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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Meets Standards
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Standards Not Met
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Did Not Disclose
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Review in Progress
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Unable to Verify
Report completed by:
BBB serving Greater Kentucky and South Central Indiana